Derivatives (Tables)

6 Months Ended

Jun. 30, 2018

Fair Values of Derivative Financial Instruments





			June 30, 2018					December 31, 2017
				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	$	—	$	18,321	$	875,000	$	—	$	14,020
Interest rate swaps	Fair Value		483,110		—		4,003		483,110		—		2,475
			1,358,110		—		22,324		1,358,110		—		16,495
Derivatives not designated as hedging instruments:
Interest rate swaps (2)	N/A		1,227,663		25,797		25,700		1,144,789		15,408		15,857
Risk participation agreements	N/A		141,907		8		56		119,951		23		109
Forward commitments to sell residential mortgage loans	N/A		106,970		44		950		80,462		1,000		290
Interest rate-lock commitments on residential mortgage loans	N/A		69,935		555		16		53,724		186		782
Foreign exchange forward contracts	N/A		44,740		1,768		1,732		42,260		2,453		2,419
			1,591,215		28,172		28,454		1,441,186		19,070		19,457
Total derivatives		$	2,949,325	$	28,172	$	50,778	$	2,799,296	$	19,070	$	35,952
Less: netting adjustment (3)					(16,744)		(24,825)				(4,913)		(21,563)
Total derivative assets/liabilities				$	11,428	$	25,953			$	14,157	$	14,389

(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 June 30, 2018
Derivative Assets	$	22,669	$	(16,909)	$	5,760	$	1,118	$	—	$	4,642

Derivative Liabilities	$	24,128	$	(23,010)	$	1,118	$	1,118	$	3,033	$	(3,033)



(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, 2017
Derivative Assets	$	7,155	$	(5,007)	$	2,148	$	2,148	$	—	$	—

Derivative Liabilities	$	24,015	$	(20,077)	$	3,938	$	2,148	$	4,099	$	(2,309)

Effects of Derivative Instruments on the Statement of Income


			Three Months Ended				Six Months Ended
			June 30,				June 30,
Derivative Instruments:	Location of Gain (Loss) Recognized in the Statement of Income:		2018		2017		2018		2017
Interest rate swaps - cash flow hedges	Interest income	$	(946)	$	(210)	$	(1,565)	$	(96)
Interest rate swaps - fair value hedges	Interest expense		(519)		303		(646)		444
All other instruments	Other noninterest income		1,588		2,680		3,111		3,145
Total		$	123	$	2,773	$	900	$	3,493