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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of derivative instruments outstanding
The following is a summary of the interest rate swaps outstanding as of the dates set forth:
 
December 31, 2017
 
Notional Amount
 
Fixed Rate
 
Floating Rate
 
Maturity
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
Non-hedging derivative instruments:
 
 
 
 
 
 
 
 
 
Customer interest rate derivatives:
 
 
 
 
 
 
 
 
 
Interest rate swaps - receive fixed/pay floating
$
173,304

 
2.19 - 5.72%
 
LIBOR 1 month + 0% - 4.25%
 
Wtd. Avg.
2.8 years
 
$
880

Interest rate caps and collars
$
37,466

 
4.55 - 6.00%
 
LIBOR 1 month + 3% - 3.75%
 
Wtd. Avg.
1.7 years
 
$
75

 
 
 
 
 
 
 
 
 
 
Correspondent interest rate derivatives:
 
 
 
 
 
 
 
 
 
Interest rate swaps - pay fixed/receive floating
$
173,304

 
2.19 - 5.72%
 
LIBOR 1 month + 0% - 4.25%
 
Wtd. Avg.
2.8 years
 
$
(901
)
Interest rate caps and collars
$
37,466

 
4.55 - 6.00%
 
LIBOR 1 month + 3% - 3.75%
 
Wtd. Avg.
1.7 years
 
$
(75
)
 
December 31, 2016
 
Notional
Amount
 
Fixed Rate
 
Floating Rate
 
Maturity
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
Non-hedging derivative instruments:
 
 
 
 
 
 
 
 
 
Customer interest rate derivatives:
 
 
 
 
 
 
 
 
 
Interest rate swaps - receive fixed/pay floating
$
185,637

 
2.19 - 5.72%
 
LIBOR 1 month + 0% - 4.25%
 
Wtd. Avg.
3.4 years
 
$
609

Interest rate caps
$
16,482

 
6.00%
 
LIBOR 1 month + 3%
 
Wtd. Avg.
2.0 years
 
$
5

 
 
 
 
 
 
 
 
 
 
Correspondent interest rate derivatives:
 
 
 
 
 
 
 
 
 
Interest rate swaps - pay fixed/receive floating
$
185,637

 
2.19 - 5.72%
 
LIBOR 1 month + 0% - 4.25%
 
Wtd. Avg.
3.4 years
 
$
(691
)
Interest rate caps
$
16,482

 
6.00%
 
LIBOR 1 month + 3%
 
Wtd. Avg.
2.0 years
 
$
(5
)
Notional amounts and estimated fair values of non-hedging derivative instruments by classification
 
December 31, 2017
 
December 31, 2016
 
 
 
Estimated Fair Value
 
 
 
Estimated Fair Value
 
Notional
Amount
 
Asset Derivative
 
Liability Derivative
 
Notional
Amount
 
Fair Value
 
Liability Derivative
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
Non-hedging interest rate derivatives:
 
 
 
 
 
 
 
 
 
 
 
Financial institution counterparty:
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
173,304

 
$
1,326

 
$
448

 
$
185,637

 
$
698

 
$
1,389

Interest rate caps and collars
37,466

 
75

 

 
16,482

 
5

 

Commercial customer counterparty:
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
173,304

 
423

 
1,325

 
185,637

 
1,307

 
698

Interest rate caps and collars
37,446

 

 
75

 
16,482

 

 
5

Gross derivatives
 
 
$
1,824

 
$
1,848

 
 
 
$
2,010

 
$
2,092

Offsetting derivative assets/liabilities
 
 
(369
)
 
(369
)
 
 
 
(698
)
 
(698
)
Net derivatives in the consolidated balance sheets
 
 
$
1,455

 
$
1,479

 
 
 
$
1,312

 
$
1,394