XML 47 R37.htm IDEA: XBRL DOCUMENT v3.19.2
Derivatives (Tables)
6 Months Ended
Jun. 30, 2019
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:
 
 
June 30, 2019
 
 
 
Notional Amount

 
Asset

 
Liability

Not designated as hedging:
 
 
 
 
 
 
Interest rate contracts
 
$
388,118

 
$
14,714

 
$
14,714

Forward commitments
 
704,588

 

 
4,216

Interest rate-lock commitments
 
608,730

 
9,041

 

Futures contracts
 
189,000

 
619

 

Option contracts
 
12,500

 
33

 

Total
 
$
1,902,936

 
$
24,407

 
$
18,930


 
 
December 31, 2018
 
 
 
Notional Amount

 
Asset

 
Liability

Not designated as hedging:
 
 
 
 
 
 
Interest rate contracts
 
$
295,333

 
$
6,679

 
$
6,679

Forward commitments
 
474,208

 

 
4,958

Interest rate-lock commitments
 
318,706

 
6,241

 

Futures contracts
 
166,000

 
649

 

Options contracts
 
3,800

 
26

 

Total
 
$
1,258,047

 
$
13,595

 
$
11,637

 
 
 
June 30, 2019
 
 
 
Notional Amount

 
Asset

 
Liability

Designated as hedging:
 
 
 
 
 
 
Interest rate swaps
 
$
30,000

 
$

 
$
491


 
 
December 31, 2018
 
 
 
Notional Amount

 
Asset

 
Liability

Designated as hedging:
 
 
 
 
 
 
Interest rate swaps
 
$
30,000

 
$
721

 
$

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 June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Not designated as hedging instruments (included in mortgage banking income):
 
 
 
 
 
 
 
 
Interest rate lock commitments
 
$
1,875

 
$
(684
)
 
$
3,755

 
$
2,727

Forward commitments
 
(5,264
)
 
635

 
(9,668
)
 
5,953

Futures contracts
 
4,107

 
(1,369
)
 
5,978

 
(3,816
)
Option contracts
 
31

 
(38
)
 
44

 
5

Total
 
$
749

 
$
(1,456
)
 
$
109

 
$
4,869

 
 
Three Months Ended June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Designated as hedging:
 
 
 
 
 
 
 
 
Amount of gain (loss) reclassified from other comprehensive
income and recognized in interest expense on
borrowings, net of taxes of ($42), $1, ($75), and $2
 
$
119

 
$
(4
)
 
$
213

 
$
(7
)
Gain included in interest expense on borrowings
 
39

 
16

 
94

 
44

Total
 
$
158

 
$
12

 
$
307

 
$
37

The following 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 June 30,
 
 
Six Months Ended June 30,
 
 
 
2019

 
2018

 
2019

 
2018

Designated as hedging:
 
 
 
 
 
 
 
 
Amount of (loss) gain recognized in other comprehensive
   income, net of tax
 
$
(564
)
 
$
198

 
$
(895
)
 
$
1,469