DERIVATIVES AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2014

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:

December 31, 2014
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	0.24	%	5.04	%	$	(2,093	)
25,000		16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.24	%	5.04	%	(2,094		)
25,000		9-Dec-08	10-Dec-08	10-Dec-18	3 Month LIBOR	0.24	%	2.94	%	(1,383		)
$	75,000									$	(5,570	)
December 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	0.24	%	5.04	%	$	(3,151	)
25,000		16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.24	%	5.04	%	(3,152		)
25,000		9-Dec-08	10-Dec-08	10-Dec-18	3 Month LIBOR	0.24	%	2.94	%	(1,493		)
50,000		17-Nov-09	20-Dec-10	20-Dec-14	3 Month LIBOR	0.25	%	3.04	%	(1,341		)
25,000		5-May-11	10-Jun-11	10-Jun-15	3 Month LIBOR	0.24	%	1.71	%	(493		)
$	150,000									$	(9,630	)

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 hedges for accounting purposes:

	Number of Positions (1)	Notional Amount Maturing
		Less than 1 year		Less than 2 years	Less than 3 years	Less than 4 years	Thereafter	Total		Fair Value
	December 31, 2014
	(Dollars in thousands)
Loan level derivatives
Receive fixed, pay variable	174	$	88,147	46,854	40,958	38,108	403,208	$	617,275	$	17,840
Pay fixed, receive variable	168	$	88,147	46,854	40,958	38,108	403,208	$	617,275	$	(17,837	)
Foreign exchange contracts
Buys foreign currency, sells U.S. currency	23	$	57,112	—	—	—	—	$	57,112	$	4,007
Buys U.S. currency, sells foreign currency	23	$	57,112	—	—	—	—	$	57,112	$	(3,984	)
	December 31, 2013
	(Dollars in thousands)
Loan level derivatives
Receive fixed, pay variable	168	$	48,882	97,975	42,957	42,116	329,554	$	561,484	$	9,484
Pay fixed, receive variable	162	$	48,882	97,975	42,957	42,116	329,554	$	561,484	$	(9,523	)
Foreign exchange contracts
Buys foreign currency, sells U.S. currency	6	$	11,367	—	—	—	—	$	11,367	$	396
Buys U.S. currency, sells foreign currency	6	$	11,367	—	—	—	—	$	11,367	$	(390	)

(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
		Fair Value at		Fair Value at			Fair Value at		Fair Value at
	Balance Sheet Location	December 31, 2014		December 31, 2013		Balance Sheet Location	December 31, 2014		December 31, 2013
	(Dollars in thousands)
Derivatives designated as hedges
Interest rate derivatives	Other assets	$	—	$	—	Other liabilities	$	5,570	$	9,630
Derivatives not designated as hedges
Customer Related Positions:
Loan level derivatives	Other assets	18,383		16,301		Other liabilities	18,380		16,340
Foreign exchange contracts	Other assets	4,007		396		Other liabilities	3,984		390
Mortgage Derivatives
Interest rate lock commitments	Other assets	295		204		Other liabilities	—		—
Forward TBA mortgage contracts	Other assets	$	—	$	64	Other liabilities	$	16	$	—
Forward sales agreements	Other assets	3		—		Other liabilities	—		35
		$	22,688	$	16,965		$	22,380	$	16,765
Total		$	22,688	$	16,965		$	27,950	$	26,395

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:

	Years Ended December 31
	2014			2013			2012
	(Dollars in thousands)
Derivatives designated as hedges
Gain in OCI on derivatives (effective portion), net of tax	$	2,256		$	3,735		$	1,082
Loss reclassified from OCI into interest expense (effective portion)	3,662			5,723			5,417
Loss reclassified from OCI into noninterest expense (loss on termination)	$	1,122		$	—		$	—
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	$	63		$	38		$	134
Other expense	(4		)	(116		)	(49		)
Changes in fair value of mortgage derivatives
Mortgage banking income	$	49		$	354		$	141
Total	$	108		$	276		$	226