Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts and Estimated Fair Values of Derivatives

The notional amounts and estimated fair values of the Company's derivatives are presented in the following table. Fair value estimates are obtained from third parties and are based on pricing models.

	September 30, 2017				December 31, 2016
	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Derivative Assets (included in other assets):
Non-hedging interest rate derivatives:
Interest rate swap contracts	$	327,569	$	8,764	$	53,593	$	1,332
Interest rate lock commitments	78,720		1,627		73,422		1,131
Forward loan sales contracts	104,543		330		126,836		286
Total derivative assets	$	510,832	$	10,721	$	253,851	$	2,749
Derivative Liabilities (included in accounts payable and accrued expenses):
Derivatives designated as hedges:
Interest rate swap contracts	$	—	$	—	$	100,000	$	33
Non-hedging interest rate derivatives:
Interest rate swap contracts	327,569		9,099		53,593		1,281
Total derivative liabilities	$	327,569	$	9,099	$	153,593	$	1,314

Offsetting Assets and Liabilities

The following table illustrates the potential effect of the Company's master netting arrangements, by type of financial instrument, on the Company's consolidated balance sheets as of September 30, 2017 and December 31, 2016:

	September 30, 2017
	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts in the Balance Sheet		Financial Instruments		Fair Value of Financial Collateral in the Balance Sheet		Net Amount
Financial Assets
Interest rate swap contracts	$	8,764	$	—	$	8,764	$	1,530	$	—	$	7,234
Mortgage related derivatives	1,957		—		1,957		—		—		1,957
Total derivatives	10,721		—		10,721		1,530		—		9,191
Total assets	$	10,721	$	—	$	10,721	$	1,530	$	—	$	9,191
Financial Liabilities
Interest rate swap contracts	$	9,099	$	—	$	9,099	$	1,530	$	7,569	$	—
Total derivatives	9,099		—		9,099		1,530		7,569		—
Repurchase agreements	635,288		—		635,288		—		635,288		—
Total liabilities	$	644,387	$	—	$	644,387	$	1,530	$	642,857	$	—

	December 31, 2016
	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts in the Balance Sheet		Financial Instruments		Fair Value of Financial Collateral in the Balance Sheet		Net Amount
Financial Assets
Interest rate swap contracts	$	1,332	$	—	$	1,332	$	479	$	—	$	853
Mortgage related derivatives	1,417		—		1,417		—		—		1,417
Total derivatives	2,749		—		2,749		479		—		2,270
Total assets	$	2,749	$	—	$	2,749	$	479	$	—	$	2,270
Financial Liabilities
Interest rate swap contracts	$	1,314	$	—	$	1,314	$	479	$	—	$	835
Total derivatives	1,314		—		1,314		479		—		835
Repurchase agreements	537,556		—		537,556		—		537,556		—
Total liabilities	$	538,870	$	—	$	538,870	$	479	$	537,556	$	835

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Derivatives designated as hedges:
Amount of loss recognized in other comprehensive income (effective portion)	$	(658	)	$	512		$	(1,095	)	$	(2,490	)
Reclassification adjustment for derivatives net (gains) losses included in income	1,128			—			1,128			—
Non-hedging interest rate derivatives:
Amount of gain (loss) recognized in other non-interest income	24			(3		)	(49		)	(82		)
Amount of net fee income recognized in other non-interest income	162			—			441			245
Amount of net gains recognized in mortgage banking revenues	358			752			539			1,970