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Derivatives and Hedging Activities | 12 Months Ended
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Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives and Hedging Activities | DERIVATIVES AND HEDGING ACTIVITIES 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.
| December 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 | $ | 503.2 |  | $ | 21.9 |  |  | $ | 403.3 |  | $ | 8.8 |
Interest rate lock commitments | 67.8 |  | 1.3 |  |  | 51.0 |  | 1.3 |
Total derivative assets | $ | 571.0 |  | $ | 23.2 |  |  | $ | 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 | $ | 503.2 |  | $ | 21.9 |  |  | $ | 403.3 |  | $ | 8.8 |
Forward loan sales contracts | 128.0 |  | 0.3 |  |  | 64.6 |  | 0.6 |
Total derivative liabilities | $ | 631.2 |  | $ | 22.2 |  |  | $ | 467.9 |  | $ | 9.4 |
The Company did no t hold derivatives designated as hedging instruments at December 31, 2019 and 2018. Derivative assets and liabilities are recorded at fair value on the balance sheet and do not take into account the effects of master netting arrangements. Master netting arrangements allow the Company to settle all contracts held with a single counterparty on a net basis and to offset net contract position with related collateral where applicable. 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 December 31, 2019 and December 31, 2018:
| December 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 | $ | 21.9 |  |  | $ | — |  |  | $ | 21.9 |  |  | $ | 0.1 |  |  | $ | 18.0 |  |  | $ | 3.8 |
Mortgage related derivatives | 1.3 |  |  | — |  |  | 1.3 |  |  | — |  |  | — |  |  | 1.3 |
Total derivatives | 23.2 |  |  | — |  |  | 23.2 |  |  | 0.1 |  |  | 18.0 |  |  | 5.1 |
Total assets | $ | 23.2 |  |  | $ | — |  |  | $ | 23.2 |  |  | $ | 0.1 |  |  | $ | 18.0 |  |  | $ | 5.1 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts | $ | 21.9 |  |  | $ | — |  |  | $ | 21.9 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 21.8 |
Mortgage related derivatives | 0.3 |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Total derivatives | 22.2 |  |  | — |  |  | 22.2 |  |  | 0.1 |  |  | — |  |  | 22.1 |
Repurchase agreements | 697.6 |  |  | — |  |  | 697.6 |  |  | — |  |  | 697.6 |  |  | — |
Total liabilities | $ | 719.8 |  |  | $ | — |  |  | $ | 719.8 |  |  | $ | 0.1 |  |  | $ | 697.6 |  |  | $ | 22.1 |
| 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 |
The following table presents the pre-tax gains or losses related to derivative contracts that were recorded in accumulated other comprehensive income and other non-interest income in the Company’s statements of income:
As of or For The Year Ended December 31, | 2019 |  | 2018 |  | 2017
Derivatives designated as hedges: |  |  |  |  |
Amount of loss recognized in other comprehensive income (effective portion) | $ | — |  |  | $ | — |  |  | $ | (1.1 | )
Reclassification adjustment for derivative net (gains) losses included in income | — |  |  | — |  |  | 1.1 |
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 | 2.5 |  |  | 1.3 |  |  | 0.8 |
Amount of net gains (losses) recognized in mortgage banking revenues | $ | 0.3 |  |  | $ | (0.5 | ) |  | $ | (1.7 | )

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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