Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2015

Summary of Derivative Instruments [Abstract]

The impact of derivative instruments on the consolidated balance sheets at June 30, 2015 and December 31, 2014 is presented below.



	Fair Value of Derivative Assets				Fair Value of Derivative Liabilities
(in thousands)	Location on Consolidated Balance Sheet	June 30, 2015		December 31, 2014	Location on Consolidated Balance Sheet	June 30, 2015		December 31, 2014
Derivatives not designated as hedging instruments:
Interest rate contracts	Other assets	$	27,948	30,904	Other liabilities	$	28,566	31,398
Mortgage derivatives	Other assets	2,691		1,213	Other liabilities	—		753
Visa derivative		—		—	Other liabilities	1,415		1,401
Total derivatives not designated as hedging instruments		$	30,639	32,117		$	29,981	33,552

Effect of Fair Value Hedges on Consolidated Statements of Income

The pre-tax effect of fair value hedges on the consolidated statements of income for the six and three months ended June 30, 2015 and 2014 is presented below.



	Location of Gain (Loss) Recognized in Income	Gain (Loss) Recognized in Income
(in thousands)		Six Months Ended June 30,
Derivatives not designated as hedging instruments		2015			2014
Interest rate contracts⁽¹⁾	Other non-interest income	(124		)	384
Mortgage derivatives⁽²⁾	Mortgage banking income	2,231			(755	)
Total		$	2,107		(371	)


	Location of Gain (Loss) Recognized in Income	Gain (Loss) Recognized in Income
(in thousands)		Three Months Ended June 30,
Derivatives not designated as hedging instruments		2015			2014
Interest rate contracts⁽¹⁾	Other non-interest income	$	55		281
Mortgage derivatives⁽²⁾	Mortgage banking income	1,128			(435	)
Total		$	1,183		(154	)

⁽¹⁾ Gain (loss) represents net fair value adjustments (including credit related adjustments) for customer swaps and offsetting positions.

⁽²⁾ Gain (loss) represents net fair value adjustments recorded for interest rate lock commitments and commitments to sell mortgage loans to third-party investors.