Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2017

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 June 30, 2017								At December 31, 2016
	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	$	2,198	$	100,000	$	367	$	225,000	$	3,270	$	100,000	$	792
Not designated as hedging instruments:
Positions subject to a master netting agreement ⁽¹⁾
Interest rate derivatives	2,132,888		6,740		1,205,406		4,224		1,943,485		32,226		1,242,937		24,388
Other	3,566		109		22,588		395		10,634		231		14,265		120
Positions not subject to a master netting agreement
Interest rate derivatives	1,822,285		38,495		1,516,009		15,915		1,734,679		38,668		1,451,762		19,001
RPAs	85,447		119		97,528		145		86,037		139		87,273		166
Mortgage banking derivatives ⁽²⁾	88,120		998		52,491		293		103,440		3,084		59,895		711
Other	—		—		1,857		106		1,438		19		181		11
Total not designated as hedging instruments	4,132,306		46,461		2,895,879		21,078		3,879,713		74,367		2,856,313		44,397
Gross derivative instruments, before netting	$	4,357,306	48,659		$	2,995,879	21,445		$	4,104,713	77,637		$	2,956,313	45,189
Less: Legally enforceable master netting agreements			3,802				3,802				24,252				24,254
Less: Cash collateral posted			1,680				999				11,475				600
Total derivative instruments, after netting			$	43,177			$	16,644			$	41,910			$	20,335


(1)	One of Webster's counterparty relationships was impacted by a Chicago Mercantile Exchange rulebook amendment, resulting in the presentation of that relationship on a settlement basis, as a single unit of account at June 30, 2017, versus a netting basis at December 31, 2016.

(2)

Notional amounts include mandatory forward commitments of $77.9 million, while notional amounts do not include approved floating rate commitments of $22.8 million, at June 30, 2017.

Other Derivatives Not Designated For Hedge Accounting

Changes in the fair value of derivatives not qualifying for hedge accounting treatment were recognized as follows:



	Three months ended June 30,						Six months ended June 30,
(In thousands)	2017			2016			2017			2016
Interest rate derivatives	$	30		$	3,574		$	279		$	5,907
RPAs	53			(167		)	106			(253		)
Mortgage banking derivatives	374			(162		)	(1,667		)	(363		)
Other	(283		)	216			(627		)	(297		)
Total impact on other non-interest income	$	174		$	3,461		$	(1,909	)	$	4,994

Offsetting Liabilities

The following table is presented on a gross basis, prior to the application of counterparty netting agreements:



	At June 30, 2017								At December 31, 2016
(In thousands)	Gross Amount		Relationship Offset		Cash Collateral Offset		Net Amount		Gross Amount		Relationship Offset		Cash Collateral Offset		Net Amount
Derivative instrument gains:
Hedge accounting	$	2,198	$	1,046	$	398	$	754	$	3,270	$	2,335	$	935	$	—
Non-hedge accounting	4,319		2,756		1,282		281		32,457		21,917		10,540		—
Total assets	$	6,517	$	3,802	$	1,680	$	1,035	$	35,727	$	24,252	$	11,475	$	—

Derivative instrument losses:
Hedge accounting	$	367	$	367	$	—	$	—	$	792	$	792	$	—	$	—
Non-hedge accounting	4,620		3,435		999		186		24,508		23,462		600		446
Total liabilities	$	4,987	$	3,802	$	999	$	186	$	25,300	$	24,254	$	600	$	446