Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative financial instruments and their classification on Balance Sheet

The table below presents the fair value of the Corporation’s derivative financial instruments, as well as their classification on the Balance Sheet, as of September 30, 2015, and December 31, 2014.

Asset Derivatives

Liability Derivatives

September 30, 2015

December 31, 2014

September 30, 2015

December 31, 2014

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate contracts

Other Assets

$

39

Other Assets

$

137

Other Liabilities

$

3,822

Other Liabilities

$

2,650

Derivatives not designated as hedging instruments:

Interest rate contracts

Other Assets

$

6,505

Other Assets

$

3,730

Other Liabilities

$

6,801

Other Liabilities

$

3,887

Schedule of derivative instruments, gain (loss) in Income Statement

The tables below present the effect of the Corporation’s derivative financial instruments on the Income Statement for the three and nine months ended September 30, 2015, and 2014.

Derivatives Not Designated as Hedging Instruments under FASB ASC 815-10	Location of Gain (Loss) Recognized Income on Derivative	Amount of Gain (Loss) Recognized Income on Derivative			Amount of Gain (Loss) Recognized Income on Derivative
		Three Months Ended September 30, 2015			Three Months Ended September 30, 2014
Interest rate contracts	Other income	$	(194	)	$	43

Derivatives Not Designated as Hedging Instruments under FASB ASC 815-10	Location of Gain (Loss) Recognized Income on Derivative	Amount of Gain (Loss) Recognized Income on Derivative			Amount of Gain (Loss) Recognized Income on Derivative
		Nine Months Ended September 30, 2015			Nine Months Ended September 30, 2014
Interest rate contracts	Other income	$	(139	)	$	31

The amount of gain (loss) recognized in other comprehensive income is included in the table below for the periods indicated.

Derivatives in Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)
	Three Months Ended					Nine Months ended
	September 30, 2015			September 30, 2014		September 30, 2015			September 30, 2014
Interest Rate Products	$	(1,791	)	$	28	$	(2,260	)	$	(2,530	)

The amount of gain (loss) reclassified from other comprehensive income into income is included in the table below for the periods indicated.

Location of Loss Reclassified from Accumulated Other Comprehensive Income (Effective Portion)	Amount of Gain (Loss) Reclassified from Other Comprehensive Income into Income (Effective Portion)
	Three Months Ended						Nine Months ended
	September 30, 2015			September 30, 2014			September 30, 2015			September 30, 2014
Interest Expense	$	(362	)	$	(356	)	$	(1,074	)	(1,051	)