Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative financial instruments

The following table provides details on the Company’s derivative financial instruments as of the dates presented:

		Fair Value
	Balance Sheet Location	June 30, 2013		December 31, 2012
Derivative assets:
Designated as hedging instruments:
Interest rate swap	Other Assets	$	10	$	—
Totals		$	10	$	—
Not designated as hedging instruments:
Interest rate contracts	Other Assets	$	1,824	$	3,083
Interest rate lock commitments	Other Assets	76		1,571
Forward commitments	Other Assets	$	4,599	$	—
Totals		$	6,499	$	4,654
Derivative liabilities:
Designated as hedging instruments:
Interest rate swap	Other Liabilities	$	232	$	2,164
Totals		$	232	$	2,164
Not designated as hedging instruments:
Interest rate contracts	Other Liabilities	$	1,826	$	3,152
Interest rate lock commitments	Other Liabilities	606		—
Forward commitments	Other Liabilities	—		198
Totals		$	2,432	$	3,350

Gains (losses) on derivative financial instruments included in the Consolidated Statements of Income

Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the periods presented:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Derivatives designated as hedging instruments:
Interest rate swaps (terminated May 2010):
Included in interest income on loans	$	80		$	152		$	165		$	304
Total	$	80		$	152		$	165		$	304
Derivatives not designated as hedging instruments:
Interest rate contracts:
Included in interest income on loans	$	801		$	549		$	1,600		$	883
Included in other noninterest expense	(25		)	23			67			34
Interest rate lock commitments:
Included in gains on sales of mortgage loans held for sale	(2,284		)	923			(2,101		)	522
Forward commitments
Included in gains on sales of mortgage loans held for sale	4,678			(888		)	4,876			(943		)
Total	$	3,170		$	607		$	4,442		$	496

Offsetting

Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet when the "right of setoff" exists or when the instruments are subject to an enforceable master netting agreement, which includes the right of the non-defaulting party or non-affected party to offset recognized amounts, including collateral posted with the counterparty, to determine a net receivable or net payable upon early termination of the agreement. Certain of the Company's derivative instruments are subject to master netting agreements; however, the Company has not elected to offset such financial instruments in the consolidated balance sheets. The following table presents the Company's gross derivative positions as recognized in the consolidated balance sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement:

	Offsetting Derivative Assets				Offsetting Derivative Liabilities
	June 30, 2013		December 31, 2012		June 30, 2013		December 31, 2012
Gross amounts recognized	$	6,509	$	4,654	$	2,664	$	5,514
Gross amounts offset in the consolidated balance sheets	—		—		—		—
Net amounts presented in the consolidated balance sheets	6,509		4,654		2,664		5,514
Gross amounts not offset in the consolidated balance sheets
Financial instruments	849		—		849		—
Financial collateral pledged	—		—		237		4,950
Net amounts	$	5,660	$	4,654	$	1,578	$	564

Schedule of gross derivative positions as recognized in the balance sheet

The following table presents the Company's gross derivative positions as recognized in the consolidated balance sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement:

	Offsetting Derivative Assets				Offsetting Derivative Liabilities
	June 30, 2013		December 31, 2012		June 30, 2013		December 31, 2012
Gross amounts recognized	$	6,509	$	4,654	$	2,664	$	5,514
Gross amounts offset in the consolidated balance sheets	—		—		—		—
Net amounts presented in the consolidated balance sheets	6,509		4,654		2,664		5,514
Gross amounts not offset in the consolidated balance sheets
Financial instruments	849		—		849		—
Financial collateral pledged	—		—		237		4,950
Net amounts	$	5,660	$	4,654	$	1,578	$	564