Derivatives (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Financial Instruments

The table below presents the notional or contractual amounts and fair values of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets at June 30, 2019 and December 31, 2018.

		June 30, 2019								December 31, 2018
				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	$	1,075,000	$	25,328		$	—		$	875,000	$	3,954		$	9,173
Interest rate swaps	Fair Value		163,110		—			290			483,110		—			2,089
			1,238,110		25,328			290			1,358,110		3,954			11,262
Derivatives not designated as hedging instruments:
Interest rate swaps ⁽²⁾	N/A		1,495,638		51,255			52,573			1,277,404		23,670			24,669
Risk participation agreements	N/A		181,100		11			70			171,222		10			131
Forward commitments to sell residential mortgage loans	N/A		124,987		48			742			77,208		110			664
Interest rate-lock commitments on residential mortgage loans	N/A		91,325		576			42			59,119		464			67
Foreign exchange forward contracts	N/A		40,230		466			434			37,749		751			718
Visa Class B derivative contract	N/A		43,753		—			6,602			43,753		—			7,304
			1,977,033		52,356			60,463			1,666,455		25,005			33,553
Total derivatives		$	3,215,143	$	77,684		$	60,753		$	3,024,565	$	28,959		$	44,815
Less: netting adjustment ⁽³⁾					(26,075	)		(41,505	)				(11,979	)		(22,588	)
Total derivative assets/liabilities				$	51,609		$	19,248				$	16,980		$	22,227

(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.

Effects of Derivative Instruments on the Statement of Income

		Three Months Ended						Six Months
		June 30,						June 30,
Derivative Instruments:	Location of Gain (Loss) Recognized in the Statement of Income:	2019			2018			2019			2018
Interest rate swaps - cash flow hedges	Interest income	$	(1,660	)	$	(946	)	$	(3,676	)	$	(1,565	)
Interest rate swaps - fair value hedges	Interest expense	$	(461	)		(519	)		(1,449	)		(646	)
All other instruments	Other noninterest income	$	3,600			1,588			4,409			3,111
Total		$	1,479		$	123		$	(716	)	$	900

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, 2019
Derivative Assets	$	26,558	$	(26,405	)	$	153	$	153	$	—	$	—
Derivative Liabilities	$	51,833	$	(41,325	)	$	10,508	$	153	$	15,304	$	(4,949	)

(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, 2018
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	)