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Derivative and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of December 31, 2017 and 2016 (in thousands):
 
 
As of December 31, 2017
 
 
Asset Derivatives
 
Liability Derivatives
 
 
Consolidated Statements of Financial Condition
 
Fair
Value
 
Consolidated Statements of Financial Condition
 
Fair
Value
Derivatives not designated as a hedging instruments:
 
 
 
 
 
 
 
 
Interest rate products
 
Other assets
 
$
6,303

 
Other liabilities
 
$
6,315

Credit contracts
 
Other assets
 
1

 
 
 

Total derivatives not designated as hedging instruments
 
 
 
$
6,304

 
 
 
$
6,315

 
 
 
 
 
 
 
 
 
Derivatives designated as a hedging instrument:
 
 
 
 
 
 
 
 
Interest rate products
 
Other assets
 
$
915

 
Other liabilities
 
$

Total derivatives designated as hedging instruments
 
 
 
$
915

 
 
 
$


 
 
As of December 31, 2016
 
 
Asset Derivatives
 
Liability Derivatives
 
 
Consolidated Statements of Financial Condition
 
Fair
Value
 
Consolidated Statements of Financial Condition
 
Fair
Value
Derivatives not designated as a hedging instruments:
 
 
 
 
 
 
 
 
Interest rate products
 
Other assets
 
$
7,156

 
Other liabilities
 
$
6,750

Credit contracts
 
Other assets
 
3

 
 
 

Total derivatives not designated as hedging instruments
 
 
 
$
7,159

 
 
 
$
6,750

 
 
 
 
 
 
 
 
 
Derivatives designated as a hedging instrument:
 
 
 
 
 
 
 
 
Interest rate products
 
Other assets
 
$
282

 
Other liabilities
 
$

Total derivatives designated as hedging instruments
 
 
 
$
282

 
 
 
$

Derivative Instruments, Gain (Loss)
The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the years ended December 31, 2017, 2016 and 2015 (in thousands).
 
 
 
 
Gain (loss) recognized in Income on derivatives
 
 
 
 
For the Year Ended December 31,
 
 
Consolidated Statements of Income
 
2017
 
2016
 
2015
Derivatives not designated as a hedging instruments:
 
 
 
 
 
 
 
 
Interest rate products
 
Other income
 
$
(422
)
 
$
186

 
$
238

Credit contracts
 
Other income
 
2

 
120

 
(1
)
Total derivatives not designated as hedging instruments
 
 
 
$
(420
)
 
$
306

 
$
237

 
 
 
 
 
 
 
 
 
Derivatives designated as a hedging instruments:
 
 
 
 
 
 
 
 
Interest rate products
 
Interest expense
 
(205
)
 
(394
)
 
(122
)
Total derivatives designated as a hedging instruments
 
 
 
$
(205
)
 
$
(394
)
 
$
(122
)