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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Financial Instruments
The following table presents the fair value of Customers' derivative financial instruments as well as their presentation on the balance sheet as of September 30, 2016 and December 31, 2015.
 
 
 
September 30, 2016
 
 
Derivative Assets
 
Derivative Liabilities
 
 
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
(amounts in thousands)
 
 
 
 
 
 
 
 
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
 
 
Interest rate swaps
 
Other assets
 
$
—

 
Other liabilities
 
$
5,695

Total
 
 
 
$
—

 
 
 
$
5,695

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
Interest rate swaps
 
Other assets
 
$
18,453

 
Other liabilities
 
$
19,739

Credit contracts
 
Other assets
 
251

 
Other liabilities
 
32

Residential mortgage loan commitments
 
Other assets
 
85

 
Other liabilities
 
—

Total
 
 
 
$
18,789

 
 
 
$
19,771

 
 
December 31, 2015
 
 
Derivative Assets
 
Derivative Liabilities
 
 
Balance Sheet
 
 
 
Balance Sheet
 
 
 
 
Location
 
Fair Value
 
Location
 
Fair Value
(amounts in thousands)
 
 
 
 
 
 
 
 
Derivatives designated as cash flow hedges:
 
 
 
 
 
 
 
 
     Interest rate swaps
 
Other assets
 
$
—

 
Other liabilities
 
$
4,477

          Total
 
 
 
$
—

 
 
 
$
4,477

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
     Interest rate swaps
 
Other assets
 
$
9,088

 
Other liabilities
 
$
9,455

     Credit contracts
 
Other assets
 
162

 
Other liabilities
 
—

     Residential mortgage loan commitments
 
Other assets
 
45

 
Other liabilities
 
—

          Total
 
 
 
$
9,295

 
 
 
$
9,455
Effect of Derivative Financial Instruments on Comprehensive Income
The following tables present the effect of Customers' derivative financial instruments on comprehensive income for the three and nine months ended September 30, 2016 and 2015.
 
Three Months Ended September 30, 2016
 
Income Statement Location
 
Amount of Income (Loss)
Recognized in Earnings
(amounts in thousands)
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Interest rate swaps
Other non-interest income
 
$
1,737

Credit contracts
Other non-interest income
 
(15
)
Residential mortgage loan commitments
Mortgage loan and banking income                
 
(71
)
Total
 
 
$
1,651


 
Three Months Ended September 30, 2015
 
Income Statement Location
 
Amount of Income (Loss)
Recognized in Earnings
(amounts in thousands)
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Interest rate swaps
Other non-interest income                
 
$
192

Credit contracts
Other non-interest income
 
51

Residential mortgage loan commitments
Mortgage loan and banking income                
 
(1
)
Total
 
 
$
242


 
Nine Months Ended September 30, 2016
 
Income Statement Location
 
Amount of Income (Loss)
Recognized in Earnings
(amounts in thousands)
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Interest rate swaps
Other non-interest income                
 
$
1,250

Credit contracts
Other non-interest income
 
257

Residential mortgage loan commitments
Mortgage loan and banking income                
 
41

Total
 
 
$
1,548

 
 
 
 
 
Nine Months Ended September 30, 2015
 
Income Statement Location
 
Amount of Income (Loss)
Recognized in Earnings
(amounts in thousands)
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Interest rate swaps
Other non-interest income                
 
$
902

Credit contracts
Other non-interest income
 
15

Residential mortgage loan commitments
Mortgage loan and banking income                
 
27

Total
 
 
$
944

 
 
 
 
 
Three Months Ended September 30, 2016
 
Amount of Gain (Loss)
Recognized in OCI on
Derivatives (Effective Portion) (1)
 
Location of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
(amounts in thousands)
 
 
 
 
 
Derivatives in cash flow hedging relationships:
 
 
 
 
 
Interest rate swaps
$
556

 
Interest expense
 
$
(703
)

 
Three Months Ended September 30, 2015
 
Amount of Gain (Loss)
Recognized in OCI on
Derivatives (Effective Portion) (1)
 
Location of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
(amounts in thousands)
 
 
 
 
 
Derivatives in cash flow hedging relationships:
 
 
 
 
 
Interest rate swaps
$
(1,464
)
 
Interest expense
 
$
—


(1)
Amounts presented are net of taxes
 
Nine Months Ended September 30, 2016
 
Amount of Gain (Loss)
Recognized in OCI on
Derivatives (Effective Portion) (1)
 
Location of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
(amounts in thousands)
 
 
 
 
 
Derivative in cash flow hedging relationships:
 
 
 
 
 
Interest rate swaps
$
(1,577
)
 
Interest expense
 
$
(1,306
)
 
Nine Months Ended September 30, 2015
 
Amount of Gain (Loss)
Recognized in OCI on
Derivatives (Effective Portion) (1)
 
Location of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated OCI into
Income (Effective Portion)
(amounts in thousands)
 
 
 
 
 
Derivative in cash flow hedging relationships:
 
 
 
 
 
Interest rate swaps
$
(2,353
)
 
Interest expense
 
$
—
Summary of Offsetting of Financial Assets and Derivative Assets
Offsetting of Financial Assets and Derivative Assets
At December 31, 2015
 
Gross
Amount of
Recognized
Assets
 
Gross
Amounts
Offset in the
Consolidated
Balance
Sheet
 
Net
Amounts of
Assets
Presented
in the
Consolidated
Balance
Sheet
 
Gross Amounts
Not Offset in the
Consolidated
Balance Sheet
 
Net
Amount
 
Financial
Instruments
 
Cash
Collateral
Received
 
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap derivatives with institutional counterparties
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Offsetting of Financial Assets and Derivative Assets
At September 30, 2016
 
Gross
Amount of
Recognized
Assets
 
Gross
Amounts
Offset in the
Consolidated
Balance
Sheet
 
Net
Amounts of
Assets
Presented
in the
Consolidated
Balance
Sheet
 
Gross Amounts
Not Offset in the
Consolidated
Balance Sheet
 
Net
Amount
 
Financial
Instruments
 
Cash
Collateral
Received
 
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap derivatives with institutional counterparties
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—
Summary of Offsetting of Financial Liabilities and Derivative Liabilities
Offsetting of Financial Liabilities and Derivative Liabilities
At December 31, 2015
 
Gross
Amount of
Recognized
Liabilities
 
Gross
Amounts
Offset in the
Consolidated
Balance
Sheet
 
Net
Amounts of
Liabilities
Presented
in the
Consolidated
Balance
Sheet
 
Gross Amounts
Not Offset in the
Consolidated
Balance Sheet
 
Net
Amount
 
Financial
Instruments
 
Cash
Collateral
Pledged
 
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap derivatives with institutional counterparties
$
13,932

 
$
—

 
$
13,932

 
$
—

 
$
13,932

 
$
—

Offsetting of Financial Liabilities and Derivative Liabilities
At September 30, 2016
 
Gross
Amount of
Recognized
Liabilities
 
Gross
Amounts
Offset in the
Consolidated
Balance
Sheet
 
Net
Amounts of
Liabilities
Presented
in the
Consolidated
Balance
Sheet
 
Gross Amounts
Not Offset in the
Consolidated
Balance Sheet
 
 
 
Financial
Instruments
 
Cash
Collateral
Pledged
 
Net
Amount
(amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap derivatives with institutional counterparties
$
25,434

 
$
—

 
$
25,434

 
$
—

 
$
25,434

 
$
—