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Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2014
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.
 
March 31, 2014
 
December 31, 2013
 
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
$
51,386

 
$
1,164

 
$
50,965

 
$
1,386

Loan/lease interest rate swaps – liabilities
37,779

 
(3,882
)
 
43,631

 
(4,191
)
Non-hedging interest rate derivatives:
 
 
 
 
 
 
 
Financial institution counterparties:
 
 
 
 
 
 
 
Loan/lease interest rate swaps – assets
203,258

 
6,860

 
195,234

 
9,573

Loan/lease interest rate swaps – liabilities
570,928

 
(33,029
)
 
626,980

 
(32,469
)
Loan/lease interest rate caps – assets
73,058

 
1,838

 
53,058

 
1,309

Customer counterparties:
 
 
 
 
 
 
 
Loan/lease interest rate swaps – assets
570,928

 
32,985

 
626,980

 
32,426

Loan/lease interest rate swaps – liabilities
203,258

 
(6,860
)
 
195,234

 
(9,573
)
Loan/lease interest rate caps – liabilities
73,058

 
(1,838
)
 
53,058

 
(1,309
)
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 March 31, 2014 were as follows:
 
Weighted-Average
 
Interest
Rate
Paid
 
Interest
Rate
Received
Interest rate swaps:
 
 
 
Fair value hedge loan/lease interest rate swaps
2.63
%
 
0.15
%
Non-hedging interest rate swaps – financial institution counterparties
3.67
%
 
2.11
%
Non-hedging interest rate swaps – customer counterparties
2.11
%
 
3.67
%
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.
 
 
 
March 31, 2014
 
December 31, 2013
 
Notional
Units
 
Notional
Amount
 
Estimated
Fair Value
 
Notional
Amount
 
Estimated
Fair Value
Financial institution counterparties:
 
 
 
 
 
 
 
 
 
Oil – assets
Barrels
 
369

 
$
553

 
356

 
$
1,004

Oil – liabilities
Barrels
 
1,363

 
(3,757
)
 
1,574

 
(2,704
)
Natural gas – assets
MMBTUs
 
8,920

 
2,627

 
14,240

 
2,903

Natural gas – liabilities
MMBTUs
 
31,390

 
(5,868
)
 
22,510

 
(3,212
)
Customer counterparties:
 
 
 
 
 
 
 
 
 
Oil – assets
Barrels
 
1,363

 
3,863

 
1,574

 
2,818

Oil – liabilities
Barrels
 
369

 
(549
)
 
356

 
(991
)
Natural gas – assets
MMBTUs
 
31,390

 
6,076

 
22,850

 
3,301

Natural gas – liabilities
MMBTUs
 
8,920

 
(2,623
)
 
13,900

 
(2,805
)
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:
 
 
 
March 31, 2014
 
December 31, 2013
 
Notional
Currency
 
Notional
Amount
 
Estimated
Fair Value
 
Notional
Amount
 
Estimated
Fair Value
Financial institution counterparties:
 
 
 
 
 
 
 
 
 
Forward contracts – assets
EUR
 
—

 
$
—

 
1,175

 
$
5

Forward contracts – assets
CAD
 
—

 
—

 
18,886

 
85

Forward contracts – assets
GBP
 
545

 
2

 
—

 
—

Forward contracts – liabilities
EUR
 
1,136

 
(1
)
 
494

 
(4
)
Forward contracts – liabilities
CAD
 
28,670

 
(249
)
 
14,078

 
(23
)
Customer counterparties:
 
 
 
 
 
 
 
 
 
Forward contracts – assets
CAD
 
28,633

 
287

 
14,055

 
45

Forward contracts – liabilities
CAD
 
—

 
—

 
18,859

 
(58
)
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 
 March 31,
 
2014
 
2013
Commercial loan/lease interest rate swaps:
 
 
 
Amount of gain (loss) included in interest income on loans
$
(539
)
 
$
(623
)
Amount of (gain) loss included in other non-interest expense
9

 
15
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 
 March 31,
 
2014
 
2013
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

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
—

 
1,085

Amount of gain (loss) recognized in other comprehensive income
—

 
—
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 
 March 31,
 
2014
 
2013
Non-hedging interest rate derivatives:
 
 
 
Other non-interest income
$
221

 
$
118

Other non-interest expense
—

 
(18
)
Non-hedging commodity derivatives:
 
 
 
Other non-interest income
82

 
167

Non-hedging foreign currency derivatives:
 
 
 
Other non-interest income
37

 
52