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Derivatives (Tables)
9 Months Ended
Sep. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments

The following tables provide details on the Company’s derivative financial instruments as of the dates presented:

 

 

 

September 30, 2017

 

 

 

Notional Amount

 

 

Asset

 

 

Liability

 

Not designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

139,545

 

 

$

1,456

 

 

$

1,456

 

Forward commitments

 

 

851,000

 

 

 

154

 

 

 

 

Interest rate-lock commitments

 

 

540,672

 

 

 

8,423

 

 

 

 

Futures contracts

 

 

350,000

 

 

 

 

 

 

978

 

Total

 

$

1,881,217

 

 

$

10,033

 

 

$

2,434

 

 

 

 

December 31, 2016

 

 

 

Notional Amount

 

 

Asset

 

 

Liability

 

Not designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

22,243

 

 

$

586

 

 

$

586

 

Forward commitments

 

 

829,000

 

 

 

12,731

 

 

 

 

Interest rate-lock commitments

 

 

532,920

 

 

 

6,428

 

 

 

 

Futures contracts

 

 

 

 

 

 

 

 

 

Total

 

$

1,384,163

 

 

$

19,745

 

 

$

586

 

 

 

 

September 30, 2017

 

 

 

Notional Amount

 

 

Asset

 

 

Liability

 

Designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

$

130,000

 

 

$

283

 

 

$

 

Total

 

$

130,000

 

 

$

283

 

 

$

 

 

Schedule of Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments

 

Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate lock commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included in mortgage banking income

 

$

486

 

 

$

(1,043

)

 

$

1,995

 

 

$

10,922

 

Forward commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included in mortgage banking income

 

 

(4,221

)

 

 

(4,374

)

 

 

(11,469

)

 

 

(21,149

)

Futures contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included in mortgage banking income

 

 

66

 

 

 

 

 

 

66

 

 

 

 

Total

 

$

(3,669

)

 

$

(5,417

)

 

$

(9,408

)

 

$

(10,227

)

 


 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain reclassified from other comprehensive

   income and recognized in other interest

   expense

 

$

150

 

 

 

 

 

$

150

 

 

 

 

 

Schedule of Other Comprehensive Income (Loss), Net of Tax, for Derivative Instruments Designated as Cash Flow Hedges

The following table discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain recognized in other comprehensive

   income, net of tax

 

$

172

 

 

 

 

 

$

172