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Derivative Instruments and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Financial Instruments and Classification on the 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 December 31, 2019 and December 31, 2018.
 
Asset Derivatives

Liability Derivatives
 
December 31, 2019

December 31, 2018

December 31, 2019

December 31, 2018
 
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

$
—


Other Assets

$
135


Other Liabilities

$
1,444


Other Liabilities

$
688

Derivatives not designated as hedging instruments:
 

 

 

 

 

 

 

 
Interest rate contracts
Other Assets

$
27,855


Other Assets

$
11,948


Other Liabilities

$
27,855


Other Liabilities

$
11,948
Amount of Gain (Loss) Recognized in Other Comprehensive Income
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)
For the Year Ended December 31,
2019

2018
Interest rate products
$
(1,072
)

$
247
Effect of Derivative Financial Instruments on the Income Statement
The tables below present the effect of the Corporation’s derivative financial instruments on the Income Statement for the years ended December 31, 2019, 2018 and 2017.
Derivatives Designated as Hedging
Instruments under
FASB ASC 815-10
Location of Loss Reclassified from Accumulated Other Comprehensive Income (Effective Portion)
Amount of Loss Reclassified from Other Comprehensive Income into Income (Effective Portion)
2019

2018

2017
Interest rate contracts
Interest expense
$
(334
)

$
(470
)

$
(985
)