Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Financial Instruments

The tables below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition at March 31, 2020 and December 31, 2019 (in thousands):

	At March 31, 2020
	Asset Derivatives			Liability Derivatives
	Consolidated Statements of Financial Condition	Fair Value		Consolidated Statements of Financial Condition	Fair Value
Derivatives not designated as a hedging instrument:
Interest rate products	Other assets	$	118,787	Other liabilities	120,176
Credit contracts	Other assets	90		Other liabilities	—
Total derivatives not designated as a hedging instrument		$	118,877		120,176
Derivatives designated as a hedging instrument:
Interest rate products	Other assets	$	(7,269)	Other liabilities	—
Total derivatives designated as a hedging instrument		$	(7,269)		—

	At December 31, 2019
	Asset Derivatives			Liability Derivatives
	Consolidated Statements of Financial Condition	Fair Value		Consolidated Statements of Financial Condition	Fair Value
Derivatives not designated as a hedging instrument:
Interest rate products	Other assets	$	38,830	Other liabilities	39,356
Credit contracts	Other assets	47		Other liabilities	—
Total derivatives not designated as a hedging instrument		$	38,877		39,356
Derivatives designated as a hedging instrument:
Interest rate products	Other assets	$	428	Other liabilities	—
Total derivatives designated as a hedging instrument		$	428		—

Effect of the derivative financial instruments on the Income Statement

The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income during the three months ended March 31, 2020 and 2019 (in thousands).

		Gain (loss) recognized in income on derivatives for the three months ended
	Consolidated Statements of Income	March 31, 2020		March 31, 2019
Derivatives not designated as a hedging instrument:
Interest rate products	Other income	$	(819)	(673)
Credit contracts	Other income	(1)		(4)
Total		$	(820)	(677)
Derivatives designated as a hedging instrument:
Interest rate products	Interest expense	$	106	162
Total		$	106	162