Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

	Three Months Ended September 30,				Nine Months Ended September 30,				Location of Gain (Loss) in Consolidated Statements of Income
	2020		2019		2020		2019
Fair value adjustment on derivatives	$	(738)	$	(382)	$	3,290	$	(382)	Interest expense on borrowings
Fair value adjustment on hedged items	763		362		(3,309)		362		Interest expense on borrowings
Gain (loss) recognized on fair value hedges (ineffective portion)	$	25	$	(20)	$	(19)	$	(20)

The following table provides information about the hedged items related to derivatives designated as fair value hedges at the dates indicated (in thousands):

Derivative and Hedging Activities - Carrying Value of Hedged Item and Cumulative Fair Value Adjustments [Table Text Block]

The following table provides information about the hedged items related to derivatives designated as fair value hedges at the dates indicated (in thousands):

	September 30, 2020		December 31, 2019		Location in Consolidated Balance Sheets
Contractual balance outstanding of hedged item	$	250,000	$	250,000	FHLB and PPPLF borrowings
Cumulative fair value hedging adjustments	$	2,810	$	(499)	FHLB and PPPLF borrowings

Schedule of Interest Rate Contract Derivative Financial Instruments and Related Hedged Items

The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at the dates indicated (dollars in thousands):

	September 30, 2020
		Weighted Average Pay Rate	Weighted Average Receive Rate	Weighted Average Remaining Life in Years
					Notional Amount		Balance Sheet Location	Fair Value
	Hedged Item							Asset		Liability
Derivatives designated as cash flow hedges:
Pay-fixed interest rate swaps	Variability of interest cash flows on variable rate borrowings	2.41%	3-Month LIBOR	2.6	$	2,921,000	Other liabilities	$	—	$	(6,566)
Derivatives designated as fair value hedges:
Receive-fixed interest rate swaps	Variability of fair value of fixed rate borrowings	3-Month LIBOR	1.55%	0.8	250,000		Other liabilities	—		—
Derivatives not designated as hedges:
Pay-fixed interest rate swaps		3.68%	Indexed to 1-month LIBOR	5.9	1,528,952		Other assets / Other liabilities	—		(42,916)
Pay-variable interest rate swaps		Indexed to 1-month LIBOR	3.68%	5.9	1,528,952		Other assets	138,332		—
Interest rate caps purchased, indexed to 1-month LIBOR			3.71%	0.7	25,955		Other assets	—		—
Interest rate caps sold, indexed to 1-month LIBOR		3.71%		0.7	25,955		Other liabilities	—		—
					$	6,280,814		$	138,332	$	(49,482)

	December 31, 2019
		Weighted Average Pay Rate	Weighted Average Receive Rate	Weighted Average Remaining Life in Years
					Notional Amount		Balance Sheet Location	Fair Value
	Hedged Item							Asset		Liability
Derivatives designated as cash flow hedges:
Pay-fixed interest rate swaps	Variability of interest cash flows on variable rate borrowings	2.37%	3-Month LIBOR	3.2	$	3,131,000	Other liabilities	$	—	$	(1,607)
Derivatives not designated as hedges:
Receive-fixed interest rate swaps	Variability of interest cash flows on fixed rate borrowings	3-Month LIBOR	1.55%	1.6	250,000		Other liabilities	—		—
Derivatives not designated as hedges
Pay-fixed interest rate swaps		3.72%	Indexed to 1-month LIBOR	6.4	1,460,355		Other assets / Other liabilities	876		(15,307)
Pay-variable interest rate swaps		Indexed to 1-month LIBOR	3.72%	6.4	1,460,355		Other assets / Other liabilities	42,810		(2,115)
Interest rate caps purchased, indexed to 1-month LIBOR			3.30%	0.6	61,004		Other assets	—		—
Interest rate caps sold, indexed to 1-month LIBOR		3.30%		0.6	61,004		Other liabilities	—		—
					$	6,423,718		$	43,686	$	(19,029)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table provides information about the amount of gain (loss) related to derivatives designated as cash flow hedges reclassified from AOCI into interest expense for the periods indicated (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,				Location of Gain (Loss) Reclassified from AOCI into Income
	2020		2019		2020		2019
Interest rate contracts	$	(15,893)	$	509	$	(30,458)	$	4,920	Interest expense on borrowings

Schedule of Interest Rate Swaps Subject to Master Netting Agreements

The Company does not offset assets and liabilities under master netting agreements for financial reporting purposes. Information on interest rate swaps subject to these agreements is as follows at the dates indicated (dollars in thousands):

	September 30, 2020
			Gross Amounts Offset in Balance Sheet		Net Amounts Presented in Balance Sheet		Gross Amounts Not Offset in Balance Sheet
	Gross Amounts Recognized						Derivative Instruments		Collateral Pledged		Net Amount
Derivative assets	$	—	$	—	$	—	$	—	$	—	$	—
Derivative liabilities	(49,482)		—		(49,482)		—		49,482		—
	$	(49,482)	$	—	$	(49,482)	$	—	$	49,482	$	—

	December 31, 2019
			Gross Amounts Offset in Balance Sheet		Net Amounts Presented in Balance Sheet		Gross Amounts Not Offset in Balance Sheet
	Gross Amounts Recognized						Derivative Instruments		Collateral Pledged		Net Amount
Derivative assets	$	876	$	—	$	876	$	(876)	$	—	$	—
Derivative liabilities	(16,914)		—		(16,914)		876		16,038		—
	$	(16,038)	$	—	$	(16,038)	$	—	$	16,038	$	—