XML 54 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivatives (Tables)
 12 Months Ended
Dec. 31, 2018
Derivatives [Abstract]  
Fair Values of Derivative Financial Instruments





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

December 31, 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 

 

$

 3,954 

 

$

 9,173 

 

$

 875,000 

 

$

 —

 

$

 14,020 

 

Interest rate swaps

 

Fair Value

 

 

 483,110 

 

 

 —

 

 

 2,089 

 

 

 483,110 

 

 

 —

 

 

 2,475 

 



 

 

 

$

 1,358,110 

 

$

 3,954 

 

$

 11,262 

 

$

 1,358,110 

 

$

 —

 

$

 16,495 

 

Derivatives not designated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps (2)

 

N/A

 

$

 1,277,404 

 

$

 23,670 

 

$

 24,669 

 

$

 1,144,789 

 

$

 15,408 

 

$

 15,857 

 

Risk participation agreements

 

N/A

 

 

 171,222 

 

 

 10 

 

 

 131 

 

 

 119,951 

 

 

 23 

 

 

 109 

 

Forward commitments to sell

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

residential mortgage loans

 

N/A

 

 

 77,208 

 

 

 110 

 

 

 664 

 

 

 80,462 

 

 

 1,000 

 

 

 290 

 

Interest rate-lock commitments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

on residential mortgage loans

 

N/A

 

 

 59,119 

 

 

 464 

 

 

 67 

 

 

 53,724 

 

 

 186 

 

 

 782 

 

Foreign exchange forward

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

contracts

 

N/A

 

 

 37,749 

 

 

 751 

 

 

 718 

 

 

 42,260 

 

 

 2,453 

 

 

 2,419 

 

Visa Class B derivative contract

 

N/A

 

 

 43,753 

 

 

 —

 

 

 7,304 

 

 

 —

 

 

 —

 

 

 —

 



 

 

 

$

 1,666,455 

 

$

 25,005 

 

$

 33,553 

 

$

 1,441,186 

 

$

 19,070 

 

$

 19,457 

 

Total derivatives

 

 

 

$

 3,024,565 

 

$

 28,959 

 

$

 44,815 

 

$

 2,799,296 

 

$

 19,070 

 

$

 35,952 

 

Less: netting adjustments (3)

 

 

 

 

 

 

 

 (11,979)

 

 

 (22,588)

 

 

 

 

 

 (4,913)

 

 

 (21,563)

 

Total derivate assets/liabilites

 

 

 

 

 

 

 

 16,980 

 

 

 22,227 

 

 

 

 

 

 14,157 

 

 

 14,389 

 



(1)

Derivative assets and liabilities are reported 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.
Effect of Derivative Instruments on the Statements of Income



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 



 

 

Year Ended



 

 

December 31,

Derivative Instruments:

Location of Gain (Loss) Recognized in the Statement of Income:

 

2018

 

2017

 

2016

  Interest rate swaps - cash flow hedges

Interest income

 

$

 (4,497)

 

$

 (280)

 

$

 2,310 

  Interest rate swaps - fair value hedges

Interest expense

 

 

 (2,343)

 

 

 829 

 

 

 -

  All other instruments

Other noninterest income

 

 

 5,368 

 

 

 5,870 

 

 

 5,196 

Total

 

 

$

 (1,472)

 

$

 6,419 

 

$

 7,506 



Offsetting Derivative Assets and Liabilities Subject to Master Netting Arrangements



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

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

 

$

 16,167 

 

$

 (12,842)

 

$

 3,325 

 

$

 1,846 

 

$

 —

 

$

 1,479 

Derivative Liabilities

 

$

 23,811 

 

$

 (21,651)

 

$

 2,160 

 

$

 1,846 

 

$

 2,871 

 

$

 (2,557)







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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)