Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Derivative Instruments [Abstract]

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



	Fair Value of Derivative Assets				Fair Value of Derivative Liabilities
		December 31,				December 31,
(in thousands)	Location on Consolidated Balance Sheet	2015		2014	Location on Consolidated Balance Sheet	2015	2014
Derivatives not designated as hedging instruments:
Interest rate contracts	Other assets	$	25,580	30,904	Other liabilities	26,030	31,398
Mortgage derivatives	Other assets	1,559		1,213	Other liabilities	—	753
Visa derivative		—		—	Other liabilities	1,415	1,401
Total derivatives not designated as hedging instruments		$	27,139	32,117		27,445	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 years ended December 31, 2015, 2014 and 2013 is presented below.



	Derivative
	Location of Gain (Loss) Recognized in Income	Gain (Loss) Recognized in Income
		Twelve Months Ended December 31,
(in thousands)		2015		2014		2013
Derivatives not designated as hedging instruments
Interest rate contracts⁽¹⁾	Other Non- Interest Income	$	44	460		89
Mortgage derivatives⁽²⁾	Mortgage Banking Income	$	1,099	(1,062	)	(745	)
Total		$	1,143	(602	)	(656	)

⁽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.