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Derivatives (Tables)
12 Months Ended
Dec. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments

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

 

 

 

December 31, 2017

 

 

 

Notional Amount

 

 

Asset

 

 

Liability

 

Not designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

146,754

 

 

$

1,146

 

 

$

1,146

 

Forward commitments

 

 

870,574

 

 

 

 

 

 

553

 

Interest rate-lock commitments

 

 

504,156

 

 

 

6,768

 

 

 

 

Futures contracts

 

 

283,000

 

 

 

315

 

 

 

 

Option contracts

 

 

6,000

 

 

 

29

 

 

 

 

Total

 

$

1,810,484

 

 

$

8,258

 

 

$

1,699

 

 

 

 

 

 

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

 

 

 

 

December 31, 2017

 

 

 

Notional Amount

 

 

Asset

 

 

Liability

 

Designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

$

130,000

 

 

$

1,432

 

 

$

 

Total

 

$

130,000

 

 

$

1,432

 

 

$

 

 

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:

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Not designated as hedging instruments (included in mortgage banking income):

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate lock commitments

 

$

340

 

 

$

835

 

 

$

2,073

 

Forward commitments

 

 

(11,987

)

 

 

10,497

 

 

 

(3,600

)

Futures contracts

 

 

315

 

 

 

 

 

 

 

Option contracts

 

 

22

 

 

 

 

 

 

 

Total

 

$

(11,310

)

 

$

11,332

 

 

$

(1,527

)

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain reclassified from other comprehensive

   income and recognized in interest expense on long-term debt

 

$

168

 

 

$

 

 

$

 

Included in loss on sale of mortgage servicing rights

 

 

 

 

 

(5,569

)

 

 

 

Total

 

$

168

 

 

$

(5,569

)

 

$

 

 

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

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Designated as hedging:

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain recognized in other comprehensive

   income, net of tax

 

$

685

 

 

$

 

 

$