Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2019

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.

	March 31, 2019				December 31, 2018
	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Derivative Assets (included in other assets on the consolidated balance sheets):
Non-hedging interest rate derivatives:
Interest rate swap contracts	$	449.2	$	12.7	$	403.3	$	8.8
Interest rate lock commitments	76.9		1.9		51.0		1.3
Total derivative assets	$	526.1	$	14.6	$	454.3	$	10.1
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets):
Non-hedging interest rate derivatives:
Interest rate swap contracts	$	449.2	$	12.7	$	403.3	$	8.8
Forward loan sales contracts	90.4		0.8		64.6		0.6
Total derivative liabilities	$	539.6	$	13.5	$	467.9	$	9.4

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 March 31, 2019 and December 31, 2018:

	March 31, 2019
	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	$	12.7	$	—	$	12.7	$	2.0	$	7.5	$	3.2
Mortgage related derivatives	1.9		—		1.9		—		—		1.9
Total derivatives	14.6		—		14.6		2.0		7.5		5.1
Total assets	$	14.6	$	—	$	14.6	$	2.0	$	7.5	$	5.1
Financial Liabilities
Interest rate swap contracts	$	12.7	$	—	$	12.7	$	2.0	$	0.2	$	10.5
Mortgage related derivatives	0.8		—		0.8		—		—		0.8
Total derivatives	13.5		—		13.5		2.0		0.2		11.3
Repurchase agreements	672.6		—		672.6		—		672.6		—
Total liabilities	$	686.1	$	—	$	686.1	$	2.0	$	672.8	$	11.3

	December 31, 2018
	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	$	8.8	$	—	$	8.8	$	2.7	$	2.4	$	3.7
Mortgage related derivatives	1.3		—		1.3		—		—		1.3
Total derivatives	10.1		—		10.1		2.7		2.4		5.0
Total assets	$	10.1	$	—	$	10.1	$	2.7	$	2.4	$	5.0
Financial Liabilities
Interest rate swap contracts	$	8.8	$	—	$	8.8	$	2.7	$	4.1	$	2.0
Mortgage related derivatives	0.6		—		0.6		—		—		0.6
Total derivatives	9.4		—		9.4		2.7		4.1		2.6
Repurchase agreements	712.4		—		712.4		—		712.4		—
Total liabilities	$	721.8	$	—	$	721.8	$	2.7	$	716.5	$	2.6

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 other non-interest income in the Company’s statements of income for the periods indicated:

	Three Months Ended March 31,
	2019		2018
Non-hedging interest rate derivatives:
Amount of gain recognized in other non-interest income	$	—	$	0.3
Amount of net fee income recognized in other non-interest income	0.8		0.5
Amount of net gains recognized in mortgage banking revenues	0.4		(0.1		)