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Derivatives Instruments and Hedging Activities Disclosure (Tables)
 9 Months Ended
Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Designated as Hedging Instruments
At September 30, 2014, December 31, 2013, and September 30, 2013, the notional values or contractual amounts and fair value of the Corporation's derivatives designated in hedge relationships were as follows:
 
Asset Derivatives
 
 
Liability Derivatives
 
September 30, 2014
 
December 31, 2013
 
September 30, 2013
 
 
September 30, 2014
 
December 31, 2013
 
September 30, 2013
(In thousands)
Notional/ Contract Amount
 
Fair Value (a)
 
Notional/ Contract Amount
 
Fair Value (a)
 
Notional/ Contract Amount
 
Fair Value (a)
 
 
Notional/ Contract Amount
 
Fair Value (b)
 
Notional/ Contract Amount
 
Fair Value (b)
 
Notional/ Contract Amount
 
Fair Value (b)
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value hedges
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
 
$
100,490

 
$
7,584

 
$
126,637

 
$
11,574

 
$
133,159

 
$
13,289

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(a) Included in "Other assets" on the Consolidated Balance Sheets
(b) Included in "Other liabilities" on the Consolidated Balance Sheet
Derivative Instruments not Designated as Hedging Instruments
As of September 30, 2014, December 31, 2013, and September 30, 2013, the notional values or contractual amounts and fair value of the Corporation's derivatives not designated in hedge relationships were as follows:
 
Asset Derivatives
 
 
Liability Derivatives
 
September 30, 2014
 
December 31, 2013
 
September 30, 2013
 
 
September 30, 2014
 
December 31, 2013
 
September 30, 2013
(In thousands)
Notional/ Contract Amount
 
Fair Value (a)
 
Notional/ Contract Amount
 
Fair Value (a)
 
Notional/ Contract Amount
 
Fair Value (a)
 
 
Notional/ Contract Amount
 
Fair Value (b)
 
Notional/ Contract Amount
 
Fair Value (b)
 
Notional/ Contract Amount
 
Fair Value (b)
Interest rate swaps
$
1,655,371

 
$
40,937

 
$
1,622,525

 
$
46,577

 
$
1,546,228

 
$
51,044

 
 
$
1,655,371

 
$
40,937

 
$
1,622,531

 
$
46,577

 
$
1,546,228

 
$
51,044

Mortgage loan commitments
167,634

 
1,975

 
90,541

 
891

 
144,572

 
2,729

 
 
—

 
—

 
—

 
—

 
—

 
—

Forward sales contracts
—

 
—

 
40,906

 
384

 
—

 
—

 
 
67,528

 
91

 
—

 
—

 
68,581

 
1,081

Credit contracts
20,504

 
—

 
—

 
—

 
—

 
—

 
 
58,157

 
—

 
49,914

 
—

 
50,336

 
—

Foreign exchange
14,745

 
185

 
6,478

 
50

 
5,716

 
66

 
 
14,074

 
153

 
6,893

 
50

 
6,295

 
92

Equity swap
—

 
—

 
—

 
—

 
—

 
—

 
 
61,145

 
515

 
63,813

 
—

 
54,763

 
—

Total
$
1,858,254

 
$
43,097

 
$
1,760,450

 
$
47,902

 
$
1,696,516

 
$
53,839

 
 
$
1,856,275

 
$
41,696

 
$
1,743,151

 
$
46,627

 
$
1,726,203

 
$
52,217

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(a) Included in "Other assets" on the Consolidated Balance Sheets
(b) Included in "Other liabilities" on the Consolidated Balance Sheets
Derivative Instruments, Gain (Loss)
Gains and losses recognized in income on non-designated hedging instruments for the three and nine months ended September 30, 2014 and 2013 are as follows:
Derivatives not
designated as hedging
instruments
 
Location of Gain/(Loss)
Recognized
in Income on
Derivative
 
Amount of Gain / (Loss) Recognized in Income on Derivatives (In thousands)
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2014
 
2013
 
2014
 
2013
Mortgage loan commitments
 
Other operating income
 
$
(516
)
 
$
1,950

 
$
1,084

 
$
(1,672
)
Forward sales contracts
 
Other operating income
 
454

 
(5,538
)
 
(476
)
 
(1,019
)
Foreign exchange contracts
 
Other operating income
 
320

 
195

 
1,012

 
(118
)
Equity swap
 
Other operating expense
 
515

 
—

 
515

 
—

Total
 
 
 
$
773

 
$
(3,393
)
 
$
2,135

 
$
(2,809
)
 
 
 
 
 
 
 
 
 
 
 
Offsetting disclosure for derivatives contracts
The following tables illustrate the potential effect of the Corporation's derivative master netting arrangements, by type of financial instrument, on the Corporation's statement of financial position as of September 30, 2014, December 31, 2013, and September 30, 2013. The swap agreements the Corporation has in place with its commercial customers are not subject to enforceable master netting arrangements, and, therefore, are excluded from these tables.
 
As of September 30, 2014
 
Gross amounts recognized
 
Gross amounts offset in the consolidated balance sheet
 
Net amounts presented in the consolidated balance sheet
 
Gross amounts not offset in the consolidated balance sheet
 
Net amount
(In thousands)
 
 
 
Financial instruments (a)
 
Collateral (b)
 
Derivative Assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - non-designated
$
1,498

 
$
—

 
$
1,498

 
$
(1,498
)
 
$
—

 
$
—

Foreign exchange
180

 
—

 
180

 
—

 
(180
)
 
—

    Total derivative assets
$
1,678

 
$
—

 
$
1,678

 
$
(1,498
)
 
$
(180
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - designated
$
7,584

 
$
—

 
$
7,584

 
$
—

 
$
(7,584
)
 
$
—

Interest rate swaps - non-designated
39,439

 
—

 
39,439

 
(1,498
)
 
(37,941
)
 
—

Foreign exchange
—

 
—

 
—

 
—

 
—

 
—

    Total derivative liabilities
$
47,023

 
$
—

 
$
47,023

 
$
(1,498
)
 
$
(45,525
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2013
 
Gross amounts recognized
 
Gross amounts offset in the consolidated balance sheet
 
Net amounts presented in the consolidated balance sheet
 
Gross amounts not offset in the consolidated balance sheet
 
Net amount
(In thousands)
 
 
 
Financial instruments (a)
 
Collateral (b)
 
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - non-designated
$
4,791

 
$
—

 
$
4,791

 
$
(4,791
)
 
$
—

 
$
—

Foreign exchange
4

 
—

 
4

 
(4
)
 
—

 
—

    Total derivative assets
$
4,795

 
$
—

 
$
4,795

 
$
(4,795
)
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - designated
$
11,574

 
$
—

 
$
11,574

 
$
—

 
$
(11,574
)
 
$
—

Interest rate swaps - non-designated
41,787

 
—

 
41,787

 
(4,791
)
 
(36,996
)
 
—

Foreign exchange
46

 
—

 
46

 
(4
)
 
(42
)
 
—

    Total derivative liabilities
$
53,407

 
$
—

 
$
53,407

 
$
(4,795
)
 
$
(48,612
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
As of September 30, 2013
 
Gross amounts recognized
 
Gross amounts offset in the consolidated balance sheet
 
Net amounts presented in the consolidated balance sheet
 
Gross amounts not offset in the consolidated balance sheet
 
Net amount
(In thousands)
 
 
 
Financial instruments (a)
 
Collateral (b)
 
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - non-designated
$
2,585

 
$
—

 
$
2,585

 
$
(2,585
)
 
$
—

 
$
—

Foreign exchange
66

 
—

 
66

 
(92
)
 
26

 
—

Total derivative assets
$
2,651

 
$
—

 
$
2,651

 
$
(2,677
)
 
$
26

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Derivative liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - designated
$
13,289

 
$
—

 
$
13,289

 
$
—

 
$
(13,289
)
 
$
—

Interest rate swaps - non-designated
48,458

 
—

 
48,458

 
(2,585
)
 
(45,873
)
 
—

Foreign exchange
92

 
—

 
92

 
(92
)
 
—

 
—

Total derivative liabilities
$
61,839

 
$
—

 
$
61,839

 
$
(2,677
)
 
$
(59,162
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
(a) For derivative assets, this includes any derivative liability fair values that could be offset in the event of counterparty default. For derivative liabilities, this includes any derivative asset fair values that could be offset in the event of counterparty default.
(b) For derivate assets, this includes the fair value of collateral received by the Corporation from the counterparty. Securities received as collateral are not included in the Consolidated Balance Sheets unless the counterparty defaults. For derivative liabilities, this includes the fair value of securities pledged by the Corporation to the counterparty. These securities are included in the Consolidated Balance Sheets unless the Corporation defaults.