Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value Of Derivative Financial Instruments Designated As Cash Flow Hedges

The following table presents the notional amounts and fair values of derivative positions:



	At December 31, 2016								At December 31, 2015
	Asset Derivatives				Liability Derivatives				Asset Derivatives				Liability Derivatives
(In thousands)	Notional Amounts		Fair Value		Notional Amounts		Fair Value		Notional Amounts		Fair Value		Notional Amounts		Fair Value
Designated as hedging instruments:
Positions subject to a master netting agreement ⁽¹⁾
Interest rate derivatives	$	225,000	$	3,270	$	100,000	$	792	$	200,000	$	2,507	$	100,000	$	1,359

Not designated as hedging instruments:
Positions subject to a master netting agreement ⁽¹⁾
Interest rate derivatives	1,943,485		32,226		1,242,937		24,388		989,695		2,255		1,543,479		40,302
Other	10,634		231		14,265		120		8,237		183		4,561		66
Positions not subject to a master netting agreement ⁽²⁾
Interest rate derivatives	1,734,679		38,668		1,451,762		19,001		2,050,460		58,304		482,738		571
RPAs	86,037		139		87,273		166		41,798		153		92,985		245
Mortgage banking derivatives ⁽³⁾	103,440		3,084		59,895		711		62,514		819		—		—
Other	1,438		19		181		11		—		—		60		9
Total not designated as hedging instruments	3,879,713		74,367		2,856,313		44,397		3,152,704		61,714		2,123,823		41,193
Gross derivative instruments, before netting	$	4,104,713	77,637		$	2,956,313	45,189		$	3,352,704	64,221		$	2,223,823	42,552
Less: Legally enforceable master netting agreements			24,253				24,253				4,945				4,945
Less: Cash collateral posted			11,475				600				—				31,330
Total derivative instruments, after netting			$	41,909			$	20,336			$	59,276			$	6,277


(1)	The Company has elected to report derivative positions subject to a legally enforceable master netting agreement on a net basis, net of cash collateral. Refer to the Offsetting Derivatives section of this footnote for additional information.


(2)	Derivative positions not subject to a legally enforceable master netting agreement are reported on a gross basis in the accompanying Consolidated Balance Sheets.


(3)	Notional amounts include mandatory forward commitments of $99.0 million, while notional amounts do not include approved floating rate commitments of $27.8 million, at December 31, 2016.

Interest Rate Swaps And Caps Not Designated For Hedge Accounting

Changes in the fair value of derivatives not qualifying for hedge accounting treatment are reported as a component of other non-interest income in the accompanying Consolidated Statements of Income as follows:



	Years ended December 31,
(In thousands)	2016			2015			2014
Interest rate derivatives	$	8,668		$	4,361		$	4,482
RPA	(361		)	(33		)	51
Mortgage banking derivatives	1,553			801			(522		)
Other	(67		)	(63		)	(253		)
Total impact on other non-interest income	$	9,793		$	5,066		$	3,758

Offsetting Assets and Liabilities

The following table is presented on a gross basis, prior to the application of counterparty netting agreements. Derivative assets and liabilities are shown net of cash collateral:



	At December 31, 2016							At December 31, 2015
(In thousands)	Gross Amount		Amount Offset			Net Amount ^{(1) (2)}		Gross Amount		Amount Offset			Net Amount^{(1) (2)}
Derivative instrument assets
Hedged Accounting Positions	$	3,270	$	(3,270	)	$	—	$	2,507	$	(2,507	)	$	—
Non-Hedged Accounting Positions	32,457		(32,457		)	—		2,438		(2,438		)	—
Total	$	35,727	$	(35,727	)	$	—	$	4,945	$	(4,945	)	$	—

Derivative instrument liabilities
Hedged Accounting Positions	$	792	$	(792	)	$	—	$	1,359	$	(1,359	)	$	—
Non-Hedged Accounting Positions	24,508		(24,062		)	446		40,368		(34,916		)	5,452
Total	$	25,300	$	(24,854	)	$	446	$	41,727	$	(36,275	)	$	5,452


(1)	Net amount is net of $10.9 million and $31.3 million of cash collateral at December 31, 2016 and December 31, 2015, respectively, as presented in the accompanying Consolidated Balance Sheets.


(2)	Net amount excludes $42.5 million and $20.2 million of initial margin requirements posted at the derivative clearing organization at December 31, 2016 and December 31, 2015, respectively. Initial margin is recorded as a component of accrued interest receivable and other assets in the accompanying Consolidated Balance Sheets