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Derivatives (Tables)
12 Months Ended
Dec. 31, 2017
Derivatives [Abstract]  
Fair Values of Derivative Financial Instruments





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

Fair Values (1)



 

 

 

Notional Amounts

 

Assets

 

Liabilities



 

Type of

 

December 31,

 

December 31,

 

December 31,

(in thousands)

 

Hedge

 

2017

 

2016

 

2017

 

2016

 

2017

 

2016

Derivatives designated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

Cash Flow

 

$

875,000 

 

$

1,100,000 

 

$

 —

 

$

 —

 

$

14,020 

 

$

7,787 

Interest rate swaps

 

Fair Value

 

 

483,110 

 

 

 —

 

 

 —

 

 

 —

 

 

2,475 

 

 

 —



 

 

 

$

1,358,110 

 

$

1,100,000 

 

$

 —

 

$

 —

 

$

16,495 

 

$

7,787 

Derivatives not designated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps (2)

 

N/A

 

$

1,144,789 

 

$

979,391 

 

$

15,408 

 

$

18,405 

 

$

15,857 

 

$

18,362 

Risk participation agreements

 

N/A

 

 

119,951 

 

 

84,732 

 

 

23 

 

 

50 

 

 

109 

 

 

105 

Forward commitments to sell

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

residential mortgage loans

 

N/A

 

 

80,462 

 

 

75,676 

 

 

1,000 

 

 

900 

 

 

290 

 

 

221 

Interest rate-lock commitments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

on residential mortgage loans

 

N/A

 

 

53,724 

 

 

46,840 

 

 

186 

 

 

189 

 

 

782 

 

 

228 

Foreign exchange forward

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

contracts

 

N/A

 

 

42,260 

 

 

56,152 

 

 

2,453 

 

 

771 

 

 

2,419 

 

 

729 



 

 

 

$

1,441,186 

 

$

1,242,791 

 

$

19,070 

 

$

20,315 

 

$

19,457 

 

$

19,645 

Total derivatives

 

 

 

$

2,799,296 

 

$

2,342,791 

 

$

19,070 

 

$

20,315 

 

$

35,952 

 

$

27,432 

Less: netting adjustments (3)

 

 

 

 

 

 

 

 

 

 

(4,913)

 

 

 —

 

 

(21,563)

 

 

 —

Total derivate assets/liabilities

 

 

 

 

 

 

 

 

 

 

14,157 

 

 

20,315 

 

 

14,389 

 

 

27,432 



(1)

Derivative assets and liabilities are reported with 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



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Gross Amounts Offset in the

 

Net Amounts  Presented in the

 

Gross Amounts Not Offset in the
Statement of Financial Position

(in thousands)

 

Gross
Amounts
Recognized

 

Statement of
Financial
Position

 

Statement of
Financial
Position

 

Financial
Instruments

 

Cash
Collateral

 

Net
Amount

Derivative Assets

 

$

7,155 

 

$

(5,007)

 

$

2,148 

 

$

2,148 

 

$

 —

 

$

 —

Derivative Liabilities

 

$

24,015 

 

$

(20,077)

 

$

3,938 

 

$

2,148 

 

$

4,099 

 

$

(2,309)







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Gross Amounts Offset in the

 

Net Amounts  Presented in the

 

Gross Amounts Not Offset in the
Statement of Financial Position

(in thousands)

 

Gross
Amounts
Recognized

 

Statement of
Financial
Position

 

Statement of
Financial
Position

 

Financial
Instruments

 

Cash
Collateral

 

Net
Amount

Derivative Assets

 

$

4,788 

 

$

 —

 

$

4,788 

 

$

4,788 

 

$

 —

 

$

 —

Derivative Liabilities

 

$

26,846 

 

$

 —

 

$

26,846 

 

$

4,788 

 

$

19,095 

 

$

2,963