Derivatives (Tables)

9 Months Ended

Sep. 30, 2017

Fair Values of Derivative Financial Instruments




			September 30, 2017					December 31, 2016
				Derivative (1)						Derivative (1)
(in thousands)	Type of Hedge		Notional or Contractual Amount	Assets		Liabilities		Notional or Contractual Amount		Assets		Liabilities
Derivatives designated as hedging instruments:
Interest rate swaps	Cash Flow	$	875,000	$	—	$	7,924	$	1,100,000	$	—	$	7,787
Interest rate swaps	Fair Value		363,000		—		823		—		—		—
		$	1,238,000	$	—	$	8,747	$	1,100,000	$	—	$	7,787
Derivatives not designated as hedging instruments:
Interest rate swaps (2)	N/A	$	1,172,752	$	16,855	$	17,420	$	979,391	$	18,405	$	18,362
Risk participation agreements	N/A		109,556		34		108		84,732		50		105
Forward commitments to sell residential mortgage loans	N/A		93,809		91		669		75,676		900		221
Interest rate-lock commitments on residential mortgage loans	N/A		71,786		534		71		46,840		189		228
Foreign exchange forward contracts	N/A		55,081		2,465		2,423		56,152		771		729
			1,502,984		19,979		20,691		1,242,791		20,315		19,645
Total derivatives		$	2,740,984	$	19,979	$	29,438	$	2,342,791	$	20,315	$	27,432
Less: netting adjustment (3)					(2,780)		(16,747)				—		—
Total derivative assets/liabilities				$	17,199	$	12,691			$	20,315	$	27,432

(1)

Derivative assets and liabilities are reported at fair value in other assets or other liabilities, respectively, in the consolidated balance sheets.

(2)

The notional amount represents both the customer accommodation agreements and offsetting agreements with unrelated financial institutions.

(3)

Represents balance sheet netting of derivative assets and liabilities for variation margin collateral held or placed with the same central clearing counterparty. See offsetting assets and liabilities for further information.

Offsetting Derivative Assets and Liabilities Subject to Master Netting Arrangements



(in thousands)			Gross Amounts		Net Amounts		Gross Amounts Not Offset in the Statement of Income
Description	Gross Amounts Recognized		Offset in the Statement of Income		Presented in the Statement of Income		Financial Instruments		Cash Collateral		Net Amount
As of September 30, 2017
Derivative Assets	$	5,271	$	(3,942)	$	1,329	$	1,329	$	—	$	—

Derivative Liabilities	$	21,889	$	(16,322)	$	5,567	$	1,329	$	7,318	$	(3,080)



(in thousands)			Gross Amounts		Net Amounts		Gross Amounts Not Offset in the Statement of Income
Description	Gross Amounts Recognized		Offset in the Statement of Income		Presented in the Statement of Income		Financial Instruments		Cash Collateral		Net Amount
As of December 31, 2016
Derivative Assets	$	4,788	$	—	$	4,788	$	4,788	$	—	$	—

Derivative Liabilities	$	26,846	$	—	$	26,846	$	4,788	$	19,095	$	2,963