Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

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 fair values of interest rate derivative contracts are estimated utilizing internal valuation models with observable market data inputs, or as determined by the Chicago Mercantile Exchange (“CME”) for centrally cleared derivative contracts. CME rules legally characterize variation margin payments for centrally cleared derivatives as settlements of the derivatives' exposure rather than collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting and financial reporting purposes. Variation margin, as determined by the CME, is settled daily. As a result, derivative contracts that clear through the CME have an estimated fair value of zero as of September 30, 2019 and December 31, 2018.

	September 30, 2019					December 31, 2018
	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	$	5,583	$	15		$	10,941	$	207
Loan/lease interest rate swaps – liabilities	6,356		(179		)	3,885		(199		)
Non-hedging interest rate derivatives:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	94,855		65			496,887		2,384
Loan/lease interest rate swaps – liabilities	1,008,173		(24,268		)	691,143		(8,921		)
Loan/lease interest rate caps – assets	102,634		233			122,791		509
Customer counterparties:
Loan/lease interest rate swaps – assets	1,008,173		55,529			691,143		16,706
Loan/lease interest rate swaps – liabilities	94,855		(175		)	496,887		(8,891		)
Loan/lease interest rate caps – liabilities	102,634		(233		)	122,791		(509		)

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 September 30, 2019 were as follows:

	Weighted-Average
	Interest Rate Paid		Interest Rate Received
Interest rate swaps:
Fair value hedge loan/lease interest rate swaps	2.33	%	2.05	%
Non-hedging interest rate swaps – financial institution counterparties	4.17		3.71
Non-hedging interest rate swaps – customer counterparties	3.71		4.17

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. We obtain dealer quotations and use internal valuation models with observable market data inputs to value our commodity derivative positions.

		September 30, 2019				December 31, 2018
	Notional Units	Notional Amount	Estimated Fair Value			Notional Amount	Estimated Fair Value
Financial institution counterparties:
Oil – assets	Barrels	2,280	$	12,884		2,416	$	24,332
Oil – liabilities	Barrels	727	(1,363		)	415	(646		)
Natural gas – assets	MMBTUs	8,716	2,053			5,745	417
Natural gas – liabilities	MMBTUs	3,439	(191		)	9,314	(1,272		)
Customer counterparties:
Oil – assets	Barrels	730	1,392			415	646
Oil – liabilities	Barrels	2,277	(12,572		)	2,416	(24,009		)
Natural gas – assets	MMBTUs	3,543	205			10,236	1,373
Natural gas – liabilities	MMBTUs	8,613	(1,960		)	4,823	(393		)

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:

		September 30, 2019				December 31, 2018
	Notional Currency	Notional Amount	Estimated Fair Value			Notional Amount	Estimated Fair Value
Financial institution counterparties:
Forward contracts – liabilities	CAD	5,283	$	(11	)	11,003	$	(13	)
Forward contracts – liabilities	GBP	—	—			142	(2		)
Forward contracts – liabilities	MXN	—	—			3,015	(132		)
Customer counterparties:
Forward contracts – assets	CAD	5,271	24			10,979	40
Forward contracts – assets	GBP	—	—			145	4
Forward contracts – assets	MXN	—	—			3,000	149

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   September 30,					Nine Months Ended   September 30,
	2019			2018		2019		2018
Commercial loan/lease interest rate swaps:
Amount of gain (loss) included in interest income on loans	$	24		$	12	$	78	$	1
Amount of (gain) loss included in other non-interest expense	(1		)	—		—		(1		)

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   September 30,				Nine Months Ended   September 30,
	2019		2018		2019		2018
Non-hedging interest rate derivatives:
Other non-interest income	$	215	$	699	$	1,188	$	2,889
Other non-interest expense	—		2		—		(2		)
Non-hedging commodity derivatives:
Other non-interest income	109		456		322		492
Non-hedging foreign currency derivatives:
Other non-interest income	12		53		41		203