Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

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



	At September 30, 2019								At December 31, 2018
	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:
Interest rate derivatives ^{(1) (2)}	$	1,525,000	$	19,209	$	—	$	—	$	325,000	$	3,050	$	—	$	—
Not designated as hedging instruments:
Interest rate derivatives ⁽¹⁾	4,401,353		180,852		4,026,716		9,114		4,435,530		42,205		3,643,985		38,029
Mortgage banking derivatives ⁽³⁾	61,367		506		74,000		184		13,599		226		17,000		293
Other ⁽⁴⁾	107,022		776		151,219		762		85,432		797		140,601		688
Total not designated as hedging instruments	4,569,742		182,134		4,251,935		10,060		4,534,561		43,228		3,801,586		39,010
Gross derivative instruments, before netting	$	6,094,742	201,343		$	4,251,935	10,060		$	4,859,561	46,278		$	3,801,586	39,010
Less: Master netting agreements			6,240				6,240				2,495				2,495
Cash collateral			13,299				2,506				4,936				—
Total derivative instruments, after netting			$	181,804			$	1,314			$	38,847			$	36,515


(1)	Balances related to Chicago Mercantile Exchange (CME) are presented as a single unit of account. Notional amounts of interest rate swaps cleared through CME include $0.7 billion and $1.9 billion for asset derivatives and $2.8 billion and $1.1 billion for liability derivatives at September 30, 2019 and December 31, 2018, respectively. The related fair values approximate zero.


(2)	The increase in the notional amount is due to $1.0 billion interest rate floors purchased as part of the Company's balance sheet repositioning strategy.


(3)	Notional amounts related to residential loan commitments include mandatory forward commitments of $74.0 million, while notional amounts do not include approved floating rate commitments of $11.0 million, at September 30, 2019.

(4)

Other derivatives include foreign currency forward contracts related to lending arrangements and customer hedging activity, a Visa equity swap transaction, and risk participation agreements. Notional amounts of risk participation agreements include $65.0 million and $65.0 million for asset derivatives and $139.5 million and $96.3 million for liability derivatives at September 30, 2019 and December 31, 2018, respectively, that have insignificant related fair values.

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table presents fair value positions transitioned from gross to net upon application of counterparty netting agreements:



	At September 30, 2019
(In thousands)	Gross Amount		Offset Amount		Net Amount on Balance Sheet		Amounts Not Offset			Net Amounts
Asset derivatives	$	19,683	19,539		$	144	$	(201	)	$	(57	)
Liability derivatives	8,816		8,746		70		(104		)	(34		)

	At December 31, 2018
(In thousands)	Gross Amount		Offset Amount		Net Amount on Balance Sheet		Amounts Not Offset			Net Amounts
Asset derivatives	$	9,928	$	7,431	$	2,497	$	(755	)	$	1,742
Liability derivatives	2,566		2,495		71		—			71

Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item and the income statement effect of derivatives designated as cash flow hedges:



	Recognized In	Three months ended September 30,					Nine months ended September 30,
(In thousands)	Net Interest Income	2019			2018		2019			2018
Fair value hedges:
Recognized on derivatives	Long-term debt	$	10,624		$	—	$	26,436		$	—
Recognized on hedged items	Long-term debt	(10,624		)	—		(26,436		)	—
Net recognized on fair value hedges		$	—		$	—	$	—		$	—
Cash flow hedges:
Interest rate derivatives	Long-term debt	$	1,095		$	1,667	$	3,028		$	5,158
Interest rate derivatives	Interest and fees on loans and leases	515			—		527			—
Net recognized on cash flow hedges		$	1,610		$	1,667	$	3,555		$	5,158

Other Derivatives Not Designated For Hedge Accounting

Additional information related to fair value hedges:



Consolidated Balance Sheet Line Item in Which Hedged Item is Located	Carrying Amount of Hedged Item				Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount
	At September 30,				At September 30,
(In thousands)	2019		2018		2019		2018
Long-term debt	$	326,436	$	—	$	26,436	$	—

The following table presents the effect on the income statement for derivatives not designated as hedging instruments:



	Recognized In	Three months ended September 30,					Nine months ended September 30,
(In thousands)	Non-interest Income	2019		2018			2019		2018
Interest rate derivatives	Other income	$	784	$	1,623		$	5,906	$	7,372
Mortgage banking derivatives	Mortgage banking activities	347		(26		)	96		(95		)
Other	Other income	1,679		(204		)	1,603		1,230
Total not designated as hedging instruments		$	2,810	$	1,393		$	7,605	$	8,507