Derivatives and Hedging

12 Months Ended

Dec. 31, 2016

Derivative [Line Items]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

DERIVATIVES AND HEDGING ACTIVITIES

The notional amounts and estimated fair values of the Company's interest rate swap contracts are presented in the following table.

	December 31, 2016				December 31, 2015
	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Derivative Assets (included in other assets on the consolidated balance sheets)
Derivatives designated as hedges:
Interest rate swap contracts	$	—	$	—	$	100,000	$	165
Non-hedging interest rate derivatives:
Interest rate swap contracts	53,593		1,332		9,369		788
Interest rate lock commitments	73,422		1,131		—		—
Forward loan sales contracts	126,836		286		—		—
Total derivative assets	$	253,851	$	2,749	$	109,369	$	953
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets)
Derivatives designated as hedges:
Interest rate swap contracts	$	100,000	$	33	$	—	$	—
Non-hedging interest rate derivatives:
Interest rate swap contracts	53,593		1,281		9,369		829
Total derivative liabilities	$	153,593	$	1,314	$	9,369	$	829

On September 22, 2015, the Company entered into a forward starting interest rate swap with a notional amount of $100,000 that was designated as a cash flow hedge. Under the terms of the interest rate swap contract, the Company pays a fixed interest rate of 1.94% and the counterparty pays to the Company a variable interest rate equal to the three-month LIBOR. No cash is exchanged until the effective date, which begins on September 15, 2017 and ends on September 15, 2020. The Company designated the interest payments related to future FHLB or other borrowings as the cash flow hedge. The hedge was fully effective during all periods presented. As such, no amount of ineffectiveness was included in the Company's consolidated statements of income in 2016 or 2015. The fair value of the interest rate swap is included in other liabilities in the Company's consolidated balance sheets with changes in fair value recorded in other comprehensive income. The Company expects the hedge to remain highly effective during the remaining term of the interest rate swap.

The following table presents the pre-tax gains or losses related to the interest rate swap derivative contracts recorded in accumulated other comprehensive income and other non-interest income in the Company's statements of income:

As of or For The Year Ended December 31,	2016			2015			2014
Derivatives designated as hedges:
Amount of gain recognized in other comprehensive income (effective portion)	$	(198	)	$	165		$	—
Non-hedging interest rate derivatives:
Amount of gain (loss) recognized in other non-interest income	92			(43		)	2
Amount of net fee income recognized in other non-interest income	933			139			70
Amount of net gains recognized in mortgage banking revenues	1,417			—			—