Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position

The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2018 and 2017.

	December 31, 2018						December 31, 2017
	Asset derivatives			Liability derivatives			Asset derivatives			Liability derivatives
	Balance sheet location	Fair  value (1)		Balance sheet location	Fair  value (1)		Balance sheet location	Fair  value (1)		Balance sheet location	Fair  value (1)
	(In thousands)
Derivatives designated as hedging instruments:
Interest rate products	Other assets	$	553	Other liabilities	$	—	Other assets	$	555	Other liabilities	$	80
Derivatives not designated as hedging instruments:
Interest rate products	Other assets	21,889		Other liabilities	22,385		Other assets	18,575		Other liabilities	18,953
Foreign exchange contracts	Other assets	—		Other liabilities	—		Other assets	2		Other liabilities	2
Risk participation agreements	Other assets	2		Other liabilities	152		Other assets	1		Other liabilities	108
Total		$	22,444		$	22,537		$	19,133		$	19,143

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(1) For additional details, see Part II. Item 8. “Financial Statements and Supplementary Data - Note 21: Fair Value Measurements.”

Schedule of Derivative Instruments, Gain (Loss)

The following table presents the effect of the Company’s derivative financial instruments in the consolidated statement of operations for the years ended December 31, 2018 and 2017.

Derivatives in Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) (1) Years Ended December 31,				Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Years Ended December 31,
	2018		2017			2018			2017
(In thousands)
Interest rate products	$	990	$	336	Interest Expense	$	(907	)	$	(1,168	)
Total	$	990	$	336		$	(907	)	$	(1,168	)

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(1) There was an additional $11 thousand loss related to the ineffective portion for the year ended December 31, 2017. The guidance in ASU 2017-12 requires that amounts in accumulated other comprehensive income that are included in the assessment of effectiveness should be reclassified into earnings in the same period in which the hedged forecasted transactions impact earnings. Transition guidance for this ASU further states that upon adoption, previously recorded cumulative ineffectiveness for cash flow hedges existing at the adoption date be eliminated by means of a cumulative-effect adjustment to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the initial application date. There was a $5 thousand reclassification related to the adoption of ASU 2017-12 effective January 1, 2018.

Derivatives Not Designated as Hedging Instruments

The following table presents the effect of the Bank’s derivative financial instruments, not designated as hedging instruments, in the consolidated statement of operations for the years ended December 31, 2018, 2017 and 2016.

Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivatives	Amount of Gain or (Loss), Net, Recognized in Income on Derivatives for Years Ended December 31,
		2018			2017			2016
		(In thousands)
Interest rate products	Other income/(expense)	$	(118	)	$	(851	)	$	596
Risk participation agreements	Other income/(expense)	158			354			4
Total		$	40		$	(497	)	$	600