Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Derivative Instruments [Table Text Block]


	March 31, 2020				December 31, 2019
	Notional		Net Carrying		Notional		Net Carrying
	Amount		Value ⁽¹⁾		Amount		Value ⁽¹⁾
	(In thousands)
Interest rate swaps (fair value hedge)	$	—	$	—	$	139,960	$	2,352
Interest rate swaps (fair value hedge)		323,525		(35,069)		186,009		(7,769)
Interest rate swaps (cash flow hedge)		866,500		(28,325)		541,500		(8,350)
Interest rate swaps (non-hedge)		18,000		(7,217)		18,000		(3,534)
Total derivatives	$	1,208,025	$	(70,611)	$	885,469	$	(17,301)

(1)	Derivatives in a positive position are recorded as “Other assets” and derivatives in a negative position are recorded as “Other liabilities” in the Consolidated Statements of Financial Condition.

Derivative Instruments, Gain (Loss) [Table Text Block]


	For the three months ended
	March 31,
(In thousands)	2020		2019
Financial Derivatives:
Interest rate swaps (non-hedge) ⁽¹⁾	$	(3,929)	$	(1,072)
Interest rate swaps (fair value hedge) ⁽²⁾		(2,249)		(292)
Interest rate swaps (cash flow hedge) ⁽³⁾		(391)		611
Net loss	$	(6,569)	$	(753)

(1)

Includes interest income (loss) recorded in “Interest and fees on loans” in the Consolidated Statements of Income of ($0.1) million and ($22,000) for the three months ended March 31, 2020 and 2019, respectively. Also includes net gains and (losses) recorded in “Net loss from fair value adjustments” in the Consolidated Statements of Income of ($3.9) million and ($1.1) million for the three months ended March 31, 2020 and 2019, respectively.

(2)

Includes interest income (loss) recorded in “Interest and fees on loans” in the Consolidated Statements of Income of ($0.2) million and $0.3 million for the three months ended March 31, 2020 and 2019, respectively. Also includes net gains and (losses) recorded in “Net loss from fair value adjustments” in the Consolidated Statements of Income of ($2.1) million and ($0.6) million for the three months ended March 31, 2020 and 2019, respectively.

(3)	Recorded as part of “Other interest expense” in the Consolidated Statements of Income.

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

March 31, 2020

Gross Amounts Not Offset in the

Consolidated Statement of

Gross Amount of

Gross Amount Offset in

Net Amount of Liabilities

Condition

Recognized

the Statement of

Presented in the Statement of

Financial

Cash Collateral

(In thousands)

Liabilities

Condition

Instruments

Pledged

Net Amount

Interest rate swaps

70,611

—

70,611

72,526

—

(1,915)

December 31, 2019

Gross Amounts Not Offset in the

Consolidated Statement of

Gross Amount Offset in

Net Amount of Assets

Condition

Gross Amount of

the Statement of

Presented in the Statement of

Financial

Cash Collateral

(In thousands)

Recognized Assets

Condition

Instruments

Received

Net Amount

Interest rate swaps

2,352

—

2,352

—

2,352

Gross Amounts Not Offset in the

Consolidated Statement of

Gross Amount of

Gross Amount Offset in

Net Amount of Liabilities

Condition

Recognized

the Statement of

Presented in the Statement of

Financial

Cash Collateral

(In thousands)

Liabilities

Condition

Instruments

Pledged

Net Amount

Interest rate swaps

19,653

—

19,653

19,265

—

388

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details