DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Information About Derivative Assets and Liabilities

	March 31, 2020
			Weighted				Location Fair
	Notional		Average		Fair Value		Value Asset
	Amount		Maturity		Asset (Liability)		(Liability)
	(in thousands)		(in years)		(in thousands)
Cash flow hedges:
Interest rate swap on wholesale funding	$	100,000		4.3	$	(6,467)	Other liabilities
Total cash flow hedges		100,000		4.3		(6,467)
Fair value hedges:
Interest rate swap on securities		37,190		9.3		3,368	Other liabilities
Total fair value hedges		37,190				3,368
Economic hedges:
Forward sale commitments		53,751		0.2		(73)	Other liabilities
Customer Loan Swaps-MNA Counterparty		150,490		7.8		(15,463)	Other liabilities (1)
Customer Loan Swaps-RPA Counterparty		78,505		8.7		(9,470)	Other liabilities (1)
Customer Loan Swaps-Customer		228,995		8.1		24,933	Other liabilities (1)
Total economic hedges		511,741				(73)
Non-hedging derivatives:
Interest rate lock commitments		23,146		0.1		93	Other assets
Total non-hedging derivatives		23,146				93
Total	$	672,077			$	(3,079)

(1) Customer loan derivatives are subject to MNA or RPA arrangements with financial institution counterparties.

	December 31, 2019
			Weighted				Location Fair
	Notional		Average		Fair Value		Value Asset
	Amount		Maturity		Asset (Liability)		(Liability)
	(in thousands)		(in years)		(in thousands)
Cash flow hedges:
Interest rate swap on wholesale funding	$	100,000		4.6	$	(1,311)	Other liabilities
Total cash flow hedges		100,000				(1,311)
Fair value hedges:
Interest rate swap on securities		37,190		9.6		593	Other liabilities
Total fair value hedges		37,190				593
Economic hedges:
Forward sale commitments		11,228		0.1		(84)	Other liabilities
Customer Loan Swaps-MNA Counterparty		135,598		7.5		(4,669)	(1)
Customer Loan Swaps-RPA Counterparty		69,505		8.8		(3,377)	(1)
Customer Loan Swaps-Customer		205,103		8.1		8,046	(1)
Total economic hedges		421,434				(84)
Non-hedging derivatives:
Interest rate lock commitments		21,748		0.1		59	Other assets
Total non-hedging derivatives		21,748				59
Total	$	580,372			$	(743)

(1) Customer loan derivatives are subject to MNA or RPA arrangements with financial institution counterparties, thus assets and liabilities with the counterparty are netted for financial statement presentation.

Schedule of Amounts Recorded On The Balance Sheet

				Cumulative Amount of Fair
	Location of Hedged Item on	Carrying Amount of Hedged		Value Hedging Adjustment in
	Balance Sheet	Assets (Liabilities)		Carrying Amount
March 31, 2020
Fair value hedges:
Interest rate swap on securities	Securities Available for Sale	$	38,710	$	207
December 31, 2019
Fair value hedges:
Interest rate swap on securities	Securities Available for Sale	$	39,026	$	523

Schedule of Derivative Instruments Gain (Loss)

	Three Months Ended March 31, 2020
	Amount of			Amount of
	Gain (Loss)			Gain (Loss)
	Recognized in			Reclassified		Location of	Amount of
	Other		Location of Gain (Loss)	from Other		Gain (Loss)	Gain (Loss)
	Comprehensive		Reclassified from Other	Comprehensive		Recognized in	Recognized
(in thousands)	Income		Comprehensive Income	Income(1)		Income	in Income
Cash flow hedges:
Interest rate swap on wholesale funding	$	4,949	Other income	$	—	Interest expense	$	1
Total cash flow hedges		4,949			—			1
Fair value hedges:
Interest rate swap on securities		(2,736)	Interest income		—	Interest income		13
Total fair value hedges		(2,736)			—			13
Economic hedges:
Forward commitments		—	Other income		—	Other income		11
Total economic hedges		—			—			11
Non-hedging derivatives:
Interest rate lock commitments		—	Other Income		—	Other Income		34
Total non-hedging derivatives		—			—			34
Total	$	2,213		$	—		$	59

(1) As of March 31, 2020 the Company does not expect any gains or losses from accumulated other comprehensive income into earnings within the next 12 months.

	Three Months Ended March 31, 2019
	Amount of			Amount of
	Gain (Loss)			Gain (Loss)			Amount of
	Recognized in			Reclassified		Location of	Gain (Loss)
	Other		Location of Gain (Loss)	from Other		Gain (Loss)	Recognized
	Comprehensive		Reclassified from Other	Comprehensive		Recognized in	Recognized
(in thousands)	Income		Comprehensive Income	Income(1)		Income	in Income
Cash flow hedges:
Interest rate swap on wholesale funding	$	402	Other income	$	—	Interest expense	$	—
Interest rate cap agreements		2,494	Acquisition, restructuring, and other expenses			Interest expense		163
Total cash flow hedges		2,896			—			—
Economic hedges:
Forward commitments		—	Other income		—	Other income		(65)
Total economic hedges		—			—			—
Non-hedging derivatives:
Interest rate lock commitments		—	Other income		—	Other Income		6
Total non-hedging derivatives		—			—			6
Total	$	2,896		$	—		$	6

(1) As of March 31, 2019 the Company does not expect any gains or losses from accumulated other comprehensive income into earnings within the next 12 months.

Schedule of Offsetting Liabilities

	Gross Amounts Offset in the Consolidated Balance Sheet
	Derivative				Cash Collateral
(in thousands)	Liabilities		Derivative Assets		Pledged		Net Amount
As of March 31, 2020
Customer Loan Derivatives:
MNA counterparty	$	(15,463)	$	15,463	$	26,200	$	—
RPA counterparty		(9,470)		9,470		—		—
Total	$	(24,933)	$	24,933	$	26,200	$	—

	Gross Amounts Offset in the Consolidated Balance Sheet
	Derivative				Cash Collateral
(in thousands)	Liabilities		Derivative Assets		Pledged		Net Amount
As of December 31, 2019
Customer Loan Derivatives:
MNA counterparty	$	(4,669)	$	4,669	$	10,700	$	—
RPA counterparty		(3,377)		3,377		—		—
Total	$	(8,046)	$	8,046	$	10,700	$	—