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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2013
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts and Estimated Fair Values of Interest Rate Derivative Contracts Outstanding | The notional amounts and estimated fair values of interest rate derivative contracts are presented in the following table. The Corporation obtains dealer quotations to value its interest rate derivative contracts designated as hedges of cash flows, while the fair values of other interest rate derivative contracts are estimated utilizing internal valuation models with observable market data inputs.
|  | June 30, 2013 |  |  | December 31, 2012 |
|  | Notional Amount |  |  | Estimated Fair Value |  |  | Notional Amount |  |  | Estimated Fair Value |
Derivatives designated as hedges of fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial institution counterparties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan/lease interest rate swaps – assets |  | $ | 52,235 |  |  | $ | 1,214 |  |  | $ | 14,748 |  |  | $ | 24 |
Loan/lease interest rate swaps – liabilities |  |  | 55,405 |  |  |  | (5,091 | ) |  |  | 84,577 |  |  |  | (7,186 | )
Derivatives designated as hedges of cash flows: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial institution counterparties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap on junior subordinated deferrable interest debentures |  |  | 120,000 |  |  |  | (2,201 | ) |  |  | 120,000 |  |  |  | (4,365 | )
Non-hedging interest rate derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial institution counterparties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan/lease interest rate swaps – assets |  |  | 212,361 |  |  |  | 6,610 |  |  |  | — |  |  |  | — |
Loan/lease interest rate swaps – liabilities |  |  | 542,431 |  |  |  | (40,051 | ) |  |  | 797,311 |  |  |  | (60,994 | )
Loan/lease interest-rate caps – assets |  |  | 53,058 |  |  |  | 1,122 |  |  |  | 30,000 |  |  |  | 12 |
Customer counterparties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loan/lease interest rate swaps – assets |  |  | 542,431 |  |  |  | 39,967 |  |  |  | 797,311 |  |  |  | 60,854 |
Loan/lease interest rate swaps – liabilities |  |  | 212,361 |  |  |  | (6,610 | ) |  |  | — |  |  |  | — |
Loan/lease interest-rate caps – liabilities |  |  | 53,058 |  |  |  | (1,122 | ) |  |  | 30,000 |  |  |  | (12 | )
Schedule of Weighted-Average Rates Paid and Received for Interest Rate Swaps Outstanding | The weighted-average rates paid and received for interest rate swaps outstanding at June 30, 2013 were as follows:
|  | Weighted-Average |
|  | Interest Rate Paid |  |  | Interest Rate Received |
Interest rate swaps: |  |  |  |  |  |  |  |
Fair value hedge loan/lease interest rate swaps |  |  | 2.57 | % |  |  | 0.19 | %
Cash flow hedge interest rate swaps on junior subordinated deferrable interest debentures |  |  | 5.47 |  |  |  | 1.82 |
Non-hedging interest rate swaps – financial institution counterparties |  |  | 4.48 |  |  |  | 1.81 |
Non-hedging interest rate swaps – customer counterparties |  |  | 1.81 |  |  |  | 4.48 |
Schedule of Notional Amounts and Estimated Fair Values of Commodity Derivative Positions | The notional amounts and estimated fair values of non-hedging commodity swap and option derivative positions outstanding are presented in the following table. The Corporation obtains dealer quotations and uses internal valuation models with observable market data inputs to value its commodity derivative positions.
|  |  |  |  | June 30, 2013 |  |  | December 31, 2012 |
|  | Notional |  |  | Notional |  |  | Estimated |  |  | Notional |  |  | Estimated |
|  | Units |  |  | Amount |  |  | Fair Value |  |  | Amount |  |  | Fair Value |
Financial institution counterparties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil – assets |  |  | Barrels |  |  |  | 673 |  |  | $ | 1,389 |  |  |  | 464 |  |  | $ | 2,188 |
Oil – liabilities |  |  | Barrels |  |  |  | 607 |  |  |  | (965 | ) |  |  | 402 |  |  |  | (1,590 | )
Natural gas – assets |  |  | MMBTUs |  |  |  | 10,600 |  |  |  | 3,435 |  |  |  | 120 |  |  |  | 19 |
Natural gas – liabilities |  |  | MMBTUs |  |  |  | 5,470 |  |  |  | (829 | ) |  |  | 120 |  |  |  | (24 | )
Customer counterparties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Oil – assets |  |  | Barrels |  |  |  | 387 |  |  |  | 595 |  |  |  | 402 |  |  |  | 1,636 |
Oil – liabilities |  |  | Barrels |  |  |  | 567 |  |  |  | (1,309 | ) |  |  | 464 |  |  |  | (2,139 | )
Natural gas – assets |  |  | MMBTUs |  |  |  | 5,796 |  |  |  | 1,236 |  |  |  | 120 |  |  |  | 24 |
Natural gas – liabilities |  |  | MMBTUs |  |  |  | 10,600 |  |  |  | (3,330 | ) |  |  | 120 |  |  |  | (19 | )
Notional Amounts and Fair Values of Open Foreign Currency Forward Contracts | The notional amounts and fair values of open foreign currency forward contracts were as follows:
|  |  |  |  | June 30, 2013 |  |  | December 31, 2012 |
|  | Notional |  |  | Notional |  |  | Estimated |  |  | Notional |  |  | Estimated |
|  | Currency |  |  | Amount |  |  | Fair Value |  |  | Amount |  |  | Fair Value |
Financial institution counterparties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts – assets |  |  | EUR |  |  |  | 1,077 |  |  | $ | 2 |  |  |  | 1,093 |  |  | $ | 3 |
Forward contracts – assets |  |  | CAD |  |  |  | 19,573 |  |  |  | 588 |  |  |  | — |  |  |  | — |
Customer counterparties: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward contracts – liabilities |  |  | CAD |  |  |  | 19,552 |  |  |  | (567 | ) |  |  | — |  |  |  | — |
Schedule of Amounts Related to Interest Rate Derivatives Designated as Hedges of Fair Value | Amounts included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Commercial loan/lease interest rate swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain (loss) included in interest income on loans |  | $ | (609 | ) |  | $ | (648 | ) |  | $ | (1,232 | ) |  | $ | (1,315 | )
Amount of (gain) loss included in other non-interest expense |  |  | (9 | ) |  |  | 5 |  |  |  | 6 |  |  |  | 17 |
Schedule of Amounts Related to Interest Rate Derivatives Included in Income Designated as Hedges of Cash Flows | Amounts included in the consolidated statements of income and in other comprehensive income for the period related to interest rate derivatives designated as hedges of cash flows were as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Interest rate swaps/caps/floors on variable-rate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from accumulated other comprehensive income to interest income on loans |  | $ | 9,345 |  |  | $ | 9,345 |  |  | $ | 18,690 |  |  | $ | 18,690 |
Interest rate swaps on junior subordinated deferrable interest debentures: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount reclassified from accumulated other comprehensive income to interest expense on junior subordinated deferrable interest debentures |  |  | 1,103 |  |  |  | 1,044 |  |  |  | 2,188 |  |  |  | 2,077 |
Amount of gain (loss) recognized in other comprehensive income |  |  | (33 | ) |  |  | (64 | ) |  |  | (33 | ) |  |  | (491 | )
Schedule of Amounts Related to Non-Hedging Interest Rate and Commodity Derivatives | Amounts included in the consolidated statements of income related to non-hedging interest rate, commodity and foreign currency derivative instruments are presented in the table below.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Non-hedging interest rate derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-interest income |  | $ | 67 |  |  | $ | 197 |  |  | $ | 185 |  |  | $ | 979 |
Other non-interest expense |  |  | (37 | ) |  |  | 10 |  |  |  | (55 | ) |  |  | (37 | )
Non-hedging commodity derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-interest income |  |  | 89 |  |  |  | 27 |  |  |  | 256 |  |  |  | 64 |
Non-hedging foreign currency derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other non-interest income |  |  | 21 |  |  |  | 5 |  |  |  | 73 |  |  |  | 5 |

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