XML 62 R42.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
DERIVATIVES (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Derivative Financial Instruments and Balances
The following table details the location and amounts recognized in the Consolidated Balance Sheets for client derivatives:
  
 
 
 
December 31, 2019
 
December 31, 2018
 
 
 
 
 
 
Estimated fair value
 
 
 
Estimated fair value
(Dollars in thousands)
 
Balance
Sheet Classification
 
Notional
amount
 
Gain
 
Loss
 
Notional
amount
 
Gain
 
Loss
Client derivatives-instruments associated with loans
 
 
 
 
 
 
 
 
 
 
 
 
Matched interest rate swaps with borrower
 
Accrued interest and other assets and other liabilities
 
$
1,923,375

 
$
70,799

 
$
(2,636
)
 
$
1,359,990

 
$
17,402

 
$
(11,787
)
Matched interest rate swaps with counterparty
 
Accrued interest and other liabilities
 
1,923,375

 
2,636

 
(70,808
)
 
1,359,990

 
11,787

 
(17,401
)
Foreign exchange contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Matched foreign exchange contracts with customers
 
Accrued interest and other assets
 
1,869,934

 
28,739

 
(10,433
)
 
0

 
0

 
0

Match foreign exchange contracts with counterparty
 
Accrued interest and other liabilities
 
1,869,934

 
10,433

 
(28,739
)
 
0

 
0

 
0

Total
 
 
 
$
7,586,618

 
$
112,607

 
$
(112,616
)
 
$
2,719,980

 
$
29,189

 
$
(29,188
)
Disclosure by Type of Financial Instrument [Table Text Block]
The following table discloses the gross and net amounts of client derivative liabilities recognized in the Consolidated Balance Sheets:
 
 
December 31, 2019
 
December 31, 2018
(Dollars in thousands)
 
Gross amounts of recognized liabilities
 
Gross amounts offset in the Consolidated Balance Sheets
 
Net amounts of (assets)/liabilities presented in the Consolidated Balance Sheets
 
Gross amounts of recognized liabilities
 
Gross amounts offset in the Consolidated Balance Sheets
 
Net amounts of (assets)/liabilities presented in the Consolidated Balance Sheets
Client derivatives
 
 
 
 
 
 
 
 
 
 
 
 
Matched interest rate swaps
 
$
73,444

 
$
(147,193
)
 
$
(73,749
)
 
$
29,189

 
$
(14,577
)
 
$
14,612

Foreign exchange contracts with counterparty
 
39,172

 
(41,202
)
 
(2,030
)
 
0

 
0

 
0

Total
 
$
112,616

 
$
(188,395
)
 
$
(75,779
)
 
$
29,189

 
$
(14,577
)
 
$
14,612
Derivative Financial Instruments, Average Remaining Maturity and the Weighted-Average Interest Rates being Paid and Received
The following table details the derivative financial instruments, the average remaining maturities and the weighted-average interest rates being paid and received by First Financial at December 31, 2019:
 
 
 
 
 
 
 
(Dollars in thousands)
 
Notional
amount
 
Average
maturity
(years)
 
Fair
value
Client derivatives-interest rate contracts
 
 
 
 
 
 
Receive fixed, matched interest rate swaps with borrower
 
$
1,923,375

 
6.0
 
$
68,163

Pay fixed, matched interest rate swaps with counterparty
 
1,923,375

 
6.0
 
(68,172
)
Client derivatives-foreign exchange contracts
 
 
 
 
 
 
Foreign exchange contracts - pay USD
 
1,869,934

 
0.6
 
18,306

Foreign exchange contracts - receive USD
 
1,869,934

 
0.6
 
(18,306
)
Total client derivatives
 
$
7,586,618

 
3.3
 
$
(9
)