Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of derivative positions for interest rate swaps which qualify as hedges for accounting purposes

The following table reflects the Company’s derivative positions for the periods indicated below for interest rate swaps which qualify as cash flow hedges for accounting purposes:

March 31, 2013
Notional Amount		Trade Date	Effective Date	Maturity Date	Receive (Variable) Index	Current  Rate Received		Pay Fixed Swap Rate		Fair Value
(Dollars in thousands)
$	25,000	16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.28	%	5.04	%	$	(4,145	)
25,000		16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.28	%	5.04	%	(4,145		)
25,000		8-Dec-08	10-Dec-08	10-Dec-13	3 Month LIBOR	0.28	%	2.65	%	(408		)
25,000		9-Dec-08	10-Dec-08	10-Dec-13	3 Month LIBOR	0.28	%	2.59	%	(397		)
25,000		9-Dec-08	10-Dec-08	10-Dec-18	3 Month LIBOR	0.28	%	2.94	%	(2,601		)
50,000		17-Nov-09	20-Dec-10	20-Dec-14	3 Month LIBOR	0.28	%	3.04	%	(2,309		)
25,000		5-May-11	10-Jun-11	10-Jun-15	3 Month LIBOR	0.28	%	1.71	%	(713		)
$	200,000									$	(14,718	)
December 31, 2012
Notional Amount		Trade Date	Effective Date	Maturity Date	Receive (Variable) Index	Current  Rate Received		Pay Fixed Swap Rate		Fair Value
				(Dollars in thousands)
$	25,000	16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.31	%	5.04	%	$	(4,416	)
25,000		16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.31	%	5.04	%	(4,417		)
25,000		8-Dec-08	10-Dec-08	10-Dec-13	3 Month LIBOR	0.31	%	2.65	%	(553		)
25,000		9-Dec-08	10-Dec-08	10-Dec-13	3 Month LIBOR	0.31	%	2.59	%	(539		)
25,000		9-Dec-08	10-Dec-08	10-Dec-18	3 Month LIBOR	0.31	%	2.94	%	(2,819		)
50,000		17-Nov-09	20-Dec-10	20-Dec-14	3 Month LIBOR	0.31	%	3.04	%	(2,647		)
25,000		5-May-11	10-Jun-11	10-Jun-15	3 Month LIBOR	0.31	%	1.71	%	(798		)
$	200,000									$	(16,189	)

Summary of net amortization income recognized

The table below presents the net amortization income recognized as an offset to interest expense related to previously terminated swaps for the periods indicated:

	Three Months Ended
	March 31
	2013		2012
	(Dollars in thousands)
Net amortization income	$	61	$	61

Summary of customer related derivative positions, not designated as hedging

The following table reflects the Company’s customer related derivative positions for the periods indicated below for those derivatives not designated as hedging:

		Notional Amount Maturing
	# of Positions (1)	2013		2014	2015	2016	Thereafter	Total		Fair Value
	March 31, 2013
	(Dollars in thousands)
Loan level swaps
Receive fixed, pay variable	149	$	15,820	58,632	103,510	44,619	292,650	$	515,231	$	25,773
Pay fixed, receive variable	143	$	15,820	58,632	103,510	44,619	292,650	$	515,231	$	(25,765	)
Foreign exchange contracts
Buys foreign exchange, sells US currency	14	$	37,692	542	—	—	—	$	38,234	$	(567	)
Buys US currency, sells foreign exchange	14	$	37,715	543	—	—	—	$	38,258	$	591
	December 31, 2012
	(Dollars in thousands)
Loan level swaps
Receive fixed, pay variable	143	$	16,766	65,344	105,939	45,267	268,932	$	502,248	$	28,678
Pay fixed, receive variable	137	$	16,766	65,344	105,939	45,267	268,932	$	502,248	$	(28,663	)
Foreign exchange contracts
Buys foreign exchange, sells US currency	16	$	42,516	—	—	—	—	$	42,516	$	1,748
Buys US currency, sells foreign exchange	16	$	42,516	—	—	—	—	$	42,516	$	(1,718	)

(1) The Company may enter into one swap agreement which offsets multiple reverse swap agreements. The positions will offset and the terms will be identical.

Fair value of derivative financial instruments as well as their classification on the balance sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheet at the periods indicated:

	Asset Derivatives					Liability Derivatives
	Balance Sheet Location	Fair Value at March 31,  2013		Fair Value at December 31, 2012		Balance Sheet Location	Fair Value at March 31,  2013		Fair Value at December 31, 2012
	(Dollars in thousands)
Derivatives designated as hedges
Interest rate swaps	Other assets	$	—	$	—	Other liabilities	$	14,718	$	16,189
Derivatives not designated as hedges
Customer Related Positions:
Loan level swaps	Other assets	$	25,773	$	28,678	Other liabilities	$	25,765	$	28,663
Foreign exchange contracts	Other assets	803		1,748		Other liabilities	779		1,718
Total		$	26,576	$	30,426		$	26,544	$	30,381

Effect of derivative financial instruments included in OCI and current earnings

The table below presents the effect of the Company’s derivative financial instruments included in OCI and current earnings for the periods indicated:

	Three Months Ended
	March 31
	2013			2012
	(Dollars in thousands)
Derivatives designated as hedges
Loss(Gain) in OCI on derivatives (effective portion), net of tax	$	(3	)	$	31
Loss reclassified from OCI into interest expense (effective portion)	$	(1,414	)	$	(1,293	)
Loss recognized in income on derivatives (ineffective portion & amount excluded from
effectiveness testing)
Interest expense	$	—		$	—
Other expense	—			—
Total	$	—		$	—
Derivatives not designated as hedges
Changes in fair value of customer related positions
Other income	$	12		$	22
Other expense	(25		)	(10		)
Total	$	(13	)	$	12

Summary of credit risk contingent instruments

Offsetting Assets

The following table presents the Company's asset derivative positions and the potential effect of netting arrangements on its financial position, as of the periods indicated:

							Gross Amounts Not Offset in the Statement of Financial Position
Description	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets Presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Received		Net Amount
	(Dollars in thousands)
	March 31, 2013
Interest rate swaps	$	—	$	—	$	—	$	—	$	—	$	—
Customer loan level swaps	25,773		—		25,773		—		—		25,773
Customer foreign exchange contracts	803		—		803		108		—		695
	$	26,576	$	—	$	26,576	$	108	$	—	$	26,468
	December 31, 2012
Interest rate swaps	$	—	$	—	$	—	$	—	$	—	$	—
Customer loan level swaps	28,678		—		28,678		—		—		28,678
Customer foreign exchange contracts	1,748		—		1,748		—		—		1,748
	$	30,426	$	—	$	30,426	$	—	$	—	$	30,426

Offsetting Liabilities

The following table presents the Company's liability derivative positions and the potential effect of netting arrangements on its financial position, as of the periods indicated:

							Gross Amounts Not Offset in the Statement of Financial Position
Description	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities Presented in the Statement of Financial Position		Financial Instruments		Cash Collateral Pledged		Net Amount
	(Dollars in thousands)
	March 31, 2013
Interest rate swaps	$	14,718	$	—	$	14,718	$	—	$	17,013	$	(2,295	)
Customer loan level swaps	25,765		—		25,765		—		30,477		(4,712		)
Customer foreign exchange contracts	779		—		779		108		—		671
	$	41,262	$	—	$	41,262	$	108	$	47,490	$	(6,336	)
	December 31, 2012
Interest rate swaps	$	16,189	$	—	$	16,189	$	—	$	19,185	$	(2,996	)
Customer loan level swaps	28,663		—		28,663		—		31,771		(3,108		)
Customer foreign exchange contracts	1,718		—		1,718		—		—		1,718
	$	46,570	$	—	$	46,570	$	—	$	50,956	$	(4,386	)

Summary of fair value of residential mortgage loans commitments, forward sales agreements, and loans held for sale

The table below summarizes the fair value of residential mortgage loans commitments, forward sales agreements, and loans held for sale at the periods indicated:

	March 31, 2013			December 31, 2012
	(Dollars in thousands)
Interest rate lock commitments	$	131		$	102
Forward sales agreements	$	(112	)	$	(223	)
Loans held for sale fair value adjustments	$	(19	)	$	121

Summary of changes in fair value of residential mortgage loans commitments, forward sales agreements, and loans held for sale

The table below summarizes the changes in the fair value of residential mortgage loans commitments, forward sales agreements, and loans held for sale at the periods indicated:

	Three Months Ended
	March 31
	2013			2012
	(Dollars in thousands)
Interest rate lock commitments	$	29		$	(284	)
Forward sales agreements	111			554
Loans held for sale fair value adjustments	(140		)	(270		)
Total change in fair value	$	—		$	—