XML 44 R34.htm IDEA: XBRL DOCUMENT v3.19.1
Derivative and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2019
Schedule of Cumulative Basis Adjustment for Fair Value Hedges
As of March 31, 2019, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges. The Company did not have any derivative instruments of December 31, 2018:
 
(in thousands)
 March 31, 2019 
Line Item in the Consolidated Statement of
Financial Condition in which the Hedge Item is Included
 Carrying Amount
of the
Hedged Assets		  Cumulative Amount
of Fair Value
Hedging Adjustments
Included in the
Carrying Amount of
the Hedged Assets		 
Total loans and leases, net 
(1)
 $2,018,532  $18,532 
 
(1)
These amounts include the amortized cost basis of closed portfolios used to designated hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At March 31, 2019, the amortized cost basis of the closed portfolios used in these hedging relationships was $ 4.7 billion; the cumulative basis adjustments associated with these hedging relationships was $18.5 million; and the amount of the designated hedged items was $2.0 billion.
Company's derivative financial instruments
The following table sets forth information regarding the Company’s derivative financial instruments at March 31, 2019. The Company had no derivative financial instruments at December 31, 2018.
 
 
 
March 31, 2019
 
 
 
 
 
 
Fair Value
 
(in thousands)
 
Notional
Amount
 
 
Other
Assets
 
 
Other
Liabilities
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Fair value hedge interest rate swap
 
$
2,000,000
 
 
$
—
 
 
$
—
 
Total derivatives designated as hedging instruments
 
$
2,000,000
 
 
$
—
 
 
$
—
 
Consolidated Statements of Income and Comprehensive Income
The following table sets forth the effect of derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the periods indicated:

 
 
 
For the Three Months Ended
March 31,
 
(in thousands)
 
2019
 
 
2018
 
Derivative – interest rate swap:
 
 
 
 
 
 
 
 
Interest income
 
$
(18,532
)
 
$
—
 
Hedged item – loans:
 
 
 
 
 
 
 
 
Interest income
 
$
18,532
 
 
$
—