Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts and Estimated Fair Values of Interest Rate Derivative Contracts Outstanding

The notional amounts and estimated fair values of interest rate derivative contracts are presented in the following table. The Corporation obtains dealer quotations to value its interest rate derivative contracts designated as hedges of cash flows, while the fair values of other interest rate derivative contracts are estimated utilizing internal valuation models with observable market data inputs.

	June 30, 2014					December 31, 2013
	Notional Amount		Estimated Fair Value			Notional Amount		Estimated Fair Value
Derivatives designated as hedges of fair value:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	$	34,244	$	705		$	50,965	$	1,386
Loan/lease interest rate swaps – liabilities	50,616		(3,779		)	43,631		(4,191		)
Non-hedging interest rate derivatives:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	185,596		3,776			195,234		9,573
Loan/lease interest rate swaps – liabilities	628,254		(36,318		)	626,980		(32,469		)
Loan/lease interest rate caps – assets	73,058		1,397			53,058		1,309
Customer counterparties:
Loan/lease interest rate swaps – assets	628,254		36,272			626,980		32,426
Loan/lease interest rate swaps – liabilities	185,596		(3,776		)	195,234		(9,573		)
Loan/lease interest rate caps – liabilities	73,058		(1,397		)	53,058		(1,309		)

Schedule of Weighted-Average Rates Paid and Received for Interest Rate Swaps Outstanding

The weighted-average rates paid and received for interest rate swaps outstanding at June 30, 2014 were as follows:

	Weighted-Average
	Interest Rate Paid		Interest Rate Received
Interest rate swaps:
Fair value hedge loan/lease interest rate swaps	2.56	%	0.15	%
Non-hedging interest rate swaps – financial institution counterparties	4.13	%	1.72	%
Non-hedging interest rate swaps – customer counterparties	4.06	%	1.67	%

Schedule of Notional Amounts and Estimated Fair Values of Commodity Derivative Positions

The notional amounts and estimated fair values of non-hedging commodity swap and option derivative positions outstanding are presented in the following table. The Corporation obtains dealer quotations and uses internal valuation models with observable market data inputs to value its commodity derivative positions.

		June 30, 2014				December 31, 2013
	Notional Units	Notional Amount	Estimated Fair Value			Notional Amount	Estimated Fair Value
Financial institution counterparties:
Oil – assets	Barrels	281	$	188		356	$	1,004
Oil – liabilities	Barrels	1,130	(6,523		)	1,574	(2,704		)
Natural gas – assets	MMBTUs	8,540	2,126			14,240	2,903
Natural gas – liabilities	MMBTUs	27,630	(4,527		)	22,510	(3,212		)
Customer counterparties:
Oil – assets	Barrels	1,130	6,608			1,574	2,818
Oil – liabilities	Barrels	281	(188		)	356	(991		)
Natural gas – assets	MMBTUs	27,630	4,688			22,850	3,301
Natural gas – liabilities	MMBTUs	8,540	(2,124		)	13,900	(2,805		)

Notional Amounts and Fair Values of Open Foreign Currency Forward Contracts

The notional amounts and fair values of open foreign currency forward contracts were as follows:

		June 30, 2014				December 31, 2013
	Notional Currency	Notional Amount	Estimated Fair Value			Notional Amount	Estimated Fair Value
Financial institution counterparties:
Forward contracts – assets	EUR	—	$	—		1,175	$	5
Forward contracts – assets	CAD	—	—			18,886	85
Forward contracts – liabilities	GBP	548	(9		)	—	—
Forward contracts – liabilities	EUR	1,078	(8		)	494	(4		)
Forward contracts – liabilities	CAD	27,637	(437		)	14,078	(23		)
Customer counterparties:
Forward contracts – assets	CAD	27,599	475			14,055	45
Forward contracts – liabilities	CAD	—	—			18,859	(58		)

Schedule of Amounts Related to Interest Rate Derivatives Designated as Hedges of Fair Value

Amounts included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows:

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2014			2013			2014			2013
Commercial loan/lease interest rate swaps:
Amount of gain (loss) included in interest income on loans	$	(516	)	$	(609	)	$	(1,055	)	$	(1,232	)
Amount of (gain) loss included in other non-interest expense	(9		)	(9		)	—			6

Schedule of Amounts Related to Interest Rate Derivatives Included in Income Designated as Hedges of Cash Flows

Amounts included in the consolidated statements of income and in other comprehensive income for the period related to interest rate derivatives designated as hedges of cash flows were as follows:

	Three Months Ended   June 30,					Six Months Ended   June 30,
	2014		2013			2014		2013
Interest rate swaps/caps/floors on variable-rate loans:
Amount reclassified from accumulated other comprehensive income to interest income on loans	$	9,345	$	9,345		$	18,690	$	18,690
Interest rate swaps on junior subordinated deferrable interest debentures:
Amount reclassified from accumulated other comprehensive income to interest expense on junior subordinated deferrable interest debentures	—		1,103			—		2,188
Amount of gain (loss) recognized in other comprehensive income	—		(33		)	—		(33		)

Schedule of Amounts Related to Non-Hedging Interest Rate and Commodity Derivatives

Amounts included in the consolidated statements of income related to non-hedging interest rate, commodity and foreign currency derivative instruments are presented in the table below.

	Three Months Ended   June 30,					Six Months Ended   June 30,
	2014		2013			2014		2013
Non-hedging interest rate derivatives:
Other non-interest income	$	644	$	67		$	865	$	185
Other non-interest expense	2		(37		)	2		(55		)
Non-hedging commodity derivatives:
Other non-interest income	11		89			93		256
Non-hedging foreign currency derivatives:
Other non-interest income	38		21			75		73