Derivative Financial Instruments (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2017

Dec. 31, 2016

DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]

Derivative financial instruments according to type of hedge designation

Our derivative financial instruments according to the type of hedge in which they are designated follows:

	September 30, 2017
	Notional Amount		Average Maturity (years)		Fair Value
	(Dollars in thousands)
Cash flow hedge - pay-fixed interest rate swap agreement	$	15,000		3.9	$	105
No hedge designation
Rate-lock mortgage loan commitments	$	36,580		0.1	$	769
Mandatory commitments to sell mortgage loans		74,750		0.1		26
Pay-fixed interest rate swap agreements		52,586		7.1		52
Pay-variable interest rate swap agreements		52,586		7.1		(52	)
Purchased options		3,119		3.8		277
Written options		3,119		3.8		(277	)
Total	$	222,740		3.5	$	795

	December 31, 2016
	Notional Amount		Average Maturity (years)		Fair Value
	(Dollars in thousands)
No hedge designation
Rate-lock mortgage loan commitments	$	26,658		0.1	$	646
Mandatory commitments to sell mortgage loans		61,954		0.1		630
Pay-fixed interest rate swap agreements		46,121		8.6		249
Pay-variable interest rate swap agreements		46,121		8.6		(249	)
Purchased options		3,119		4.5		238
Written options		3,119		4.5		(238	)
Total	$	187,092		4.4	$	1,276

Our derivative financial instruments according to the type of hedge in which they are designated at December 31 follow:

	2016
	Notional Amount		Average Maturity (years)		Fair Value
	(Dollars in thousands)
No hedge designation
Rate-lock mortgage loan commitments	$	26,658		0.1	$	646
Mandatory commitments to sell mortgage loans		61,954		0.1		630
Pay-fixed interest rate swap agreements		46,121		8.6		249
Pay-variable interest rate swap agreements		46,121		8.6		(249	)
Purchased options		3,119		4.5		238
Written options		3,119		4.5		(238	)
Total	$	187,092		4.4	$	1,276

	2015
	Notional Amount		Average Maturity (years)		Fair Value
	(Dollars in thousands)
No hedge designation
Rate-lock mortgage loan commitments	$	20,581		0.1	$	550
Mandatory commitments to sell mortgage loans		46,320		0.1		69
Pay-fixed interest rate swap agreements		27,587		8.0		(497	)
Pay-variable interest rate swap agreements		27,587		8.0		497
Purchased options		2,098		5.7		122
Written options		2,098		5.7		(122	)
Total	$	126,271		3.7	$	619

Fair value of derivative instruments

Fair Values of Derivative Instruments

	Asset Derivatives						Liability Derivatives
	September 30, 2017			December 31, 2016			September 30, 2017			December 31, 2016
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(In thousands)
Derivatives designated as hedging instruments
Pay-fixed interest rate swap agreements	Other assets	$	105	Other assets	$	—	Other liabilities	$	—	Other liabilities	$	—
Derivatives not designated as hedging instruments
Rate-lock mortgage loan commitments	Other assets		769	Other assets		646	Other liabilities		—	Other liabilities		—
Mandatory commitments to sell mortgage loans	Other assets		26	Other assets		630	Other liabilities		—	Other liabilities		—
Pay-fixed interest rate swap agreements	Other assets		424	Other assets		493	Other liabilities		372	Other liabilities		244
Pay-variable interest rate swap agreements	Other assets		372	Other assets		244	Other liabilities		424	Other liabilities		493
Purchased options	Other assets		277	Other assets		238	Other liabilities		—	Other liabilities		—
Written options	Other assets		—	Other assets		—	Other liabilities		277	Other liabilities		238
Total			1,868			2,251			1,073			975
Total derivatives		$	1,973		$	2,251		$	1,073		$	975

Fair Values of Derivative Instruments

	Asset Derivatives						Liability Derivatives
	December 31,						December 31,
	2016			2015			2016			2015
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
	(In thousands)
Derivatives not designated as hedging instruments
Rate-lock mortgage loan commitments	Other assets	$	646	Other assets	$	550	Other liabilities	$	—	Other liabilities	$	—
Mandatory commitments to sell mortgage loans	Other assets		630	Other assets		69	Other liabilities		—	Other liabilities		—
Pay-fixed interest rate swap agreements	Other assets		493	Other assets		—	Other liabilities		244	Other liabilities		497
Pay-variable interest rate swap agreements	Other assets		244	Other assets		497	Other liabilities		493	Other liabilities		—
Purchased options	Other assets		238	Other assets		122	Other liabilities		—	Other liabilities		—
Written options	Other assets		—	Other assets		—	Other liabilities		238	Other liabilities		122
Total derivatives		$	2,251		$	1,238		$	975		$	619

Effect of derivative financial instruments on condensed consolidated statement of operation

The effect of derivative financial instruments on the Condensed Consolidated Statements of Operations follows:

Three Month Periods Ended September 30,
	Gain Recognized in Other Comprehensive Income (Effective Portion)				Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)					Location of Gain (Loss) Recognized in Income⁽¹⁾	Gain (Loss) Recognized in Income⁽¹⁾
	2017		2016			2017			2016			2017			2016
	(In thousands)
Cash Flow Hedges
Pay-fixed interest rate swap agreements	$	95	$	—	Interest expense	$	(5	)	$	—		$	5		$	—
Total	$	95	$	—		$	(5	)	$	—		$	5		$	—
No hedge designation
Rate-lock mortgage loan commitments											Net gains on on mortage loans	$	(313	)	$	264
Mandatory commitments to sell mortgage loans											Net gains on on mortage loans		2			94
Pay-fixed interest rate swap agreements											Interest income		52			196
Pay-variable interest rate swap agreements											Interest income		(52	)		(196	)
Purchased options											Interest expense		5			13
Written options											Interest expense		(5	)		(13	)
Total												$	(311	)	$	358

(1)

For cash flow hedges, this location and amount refers to the ineffective portion.

Nine Month Periods Ended September 30,
	Gain Recognized in Other Comprehensive Income (Effective Portion)				Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)					Location of Gain (Loss) Recognized in Income⁽¹⁾	Gain (Loss) Recognized in Income⁽¹⁾
	2017		2016			2017			2016			2017			2016
	(In thousands)
Cash Flow Hedges
Pay-fixed interest rate swap agreements	$	95	$	—	Interest expense	$	(5	)	$	—		$	5		$	—
Total	$	95	$	—		$	(5	)	$	—		$	5		$	—

No hedge designation
Rate-lock mortgage loan commitments											Net gains on on mortage loans	$	123		$	613
Mandatory commitments to sell mortgage loans											Net gains on on mortage loans		(604	)		(352	)
Pay-fixed interest rate swap agreements											Interest income		(197	)		(1,512	)
Pay-variable interest rate swap agreements											Interest income		197			1,512
Purchased options											Interest expense		39			94
Written options											Interest expense		(39	)		(94	)
Total												$	(481	)	$	261

(1)

For cash flow hedges, this location and amount refers to the ineffective portion.

The effect of derivative financial instruments on the Consolidated Statements of Operations follows:

	Year Ended December 31,
	Loss Recognized in Other Comprehensive Income (Loss) (Effective Portion)						Location of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)	Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)							Location of Gain (Loss) Recognized in Income⁽¹⁾	Gain (Loss) Recognized in Income⁽¹⁾
	2016		2015		2014			2016		2015		2014				2016			2015			2014
	(In thousands)
Cash Flow Hedges
Pay-fixed interest rate swap agreements	$	—	$	—	$	—	Interest expense	$	—	$	—	$	(380	)	Interest expense	$	—		$	—		$	—
Total	$	—	$	—	$	—		$	—	$	—	$	(380	)		$	—		$	—		$	—

No hedge designation
Rate-lock mortgage loan commitments															Net gains on mortgage loans	$	96		$	113		$	71
Mandatory commitments to sell mortgage loans															Net gains on mortgage loans		561			253			(312	)

Pay-fixed interest rate swap agreements															Interest income		746			(315	)		(182	)

Pay-variable interest rate swap agreements															Interest income		(746	)		315			182

Purchased options															Interest expense		116			122			—

Written options															Interest expense		(116	)		(122	)		—

UST short position															Net gains on securities		—			—			295
Total																$	657		$	366		$	54

(1)

For cash flow hedges, this location and amount refers to the ineffective portion.