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Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Financial Instruments

The following tables present the fair value of Customers' derivative financial instruments as well as their presentation on the balance sheet as of September 30, 2017 and December 31, 2016.

		September 30, 2017
		Derivative Assets						Derivative Liabilities
		Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value
(amounts in thousands)
Derivatives designated as cash flow hedges:
Interest rate swaps		Other assets		$	355			Other liabilities		$	2,001
Total				$	355					$	2,001
Derivatives not designated as hedging instruments:
Interest rate swaps		Other assets		$	9,861			Other liabilities		$	10,083
Credit contracts		Other assets		128				Other liabilities		8
Residential mortgage loan commitments		Other assets		103				Other liabilities		—
Total				$	10,092					$	10,091

		December 31, 2016
		Derivative Assets						Derivative Liabilities
		Balance Sheet						Balance Sheet
		Location		Fair Value				Location		Fair Value
(amounts in thousands)
Derivatives designated as cash flow hedges:
Interest rate swaps		Other assets		$	—			Other liabilities		$	3,624
Total				$	—					$	3,624
Derivatives not designated as hedging instruments:
Interest rate swaps		Other assets		$	10,683			Other liabilities		$	10,537
Credit contracts		Other assets		136				Other liabilities		11
Residential mortgage loan commitments		Other assets		45				Other liabilities		—
Total				$	10,864					$	10,548

Effect of Derivative Financial Instruments on Comprehensive Income

The following tables present the effect of Customers' derivative financial instruments on comprehensive income for the three and nine months ended September 30, 2017 and 2016.

	Three Months Ended September 30, 2017
	Income Statement Location		Amount of Income (Loss) Recognized in Earnings
(amounts in thousands)
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-interest income		$	91
Credit contracts	Other non-interest income		(6		)
Residential mortgage loan commitments	Mortgage banking income		1
Total			$	86

	Three Months Ended September 30, 2016
	Income Statement Location		Amount of Income (Loss) Recognized in Earnings
(amounts in thousands)
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-interest income		$	1,737
Credit contracts	Other non-interest income		(15		)
Residential mortgage loan commitments	Mortgage banking income		(71		)
Total			$	1,651

	Nine Months Ended September 30, 2017
	Income Statement Location		Amount of Income (Loss) Recognized in Earnings
(amounts in thousands)
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-interest income		$	429
Credit contracts	Other non-interest income		(5		)
Residential mortgage loan commitments	Mortgage banking income		58
Total			$	482

	Nine Months Ended September 30, 2016
	Income Statement Location		Amount of Income Recognized in Earnings
(amounts in thousands)
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-interest income		$	1,250
Credit contracts	Other non-interest income		257
Residential mortgage loan commitments	Mortgage banking income		41
Total			$	1,548

	Three Months Ended September 30, 2017
	Amount of Gain Recognized in OCI on Derivatives (Effective Portion) (1)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
(amounts in thousands)
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	104			Interest expense		$	(572	)

	Three Months Ended September 30, 2016
	Amount of Gain Recognized in OCI on Derivatives (Effective Portion) (1)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
(amounts in thousands)
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	556			Interest expense		$	(703	)

	Nine Months Ended September 30, 2017
	Amount of Loss Recognized in OCI on Derivatives (Effective Portion) (1)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
(amounts in thousands)
Derivative in cash flow hedging relationships:
Interest rate swaps	$	(115	)		Interest expense		$	(2,166	)

	Nine Months Ended September 30, 2016
	Amount of Loss Recognized in OCI on Derivatives (Effective Portion) (1)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
(amounts in thousands)
Derivative in cash flow hedging relationships:
Interest rate swaps	$	(1,577	)		Interest expense		$	(1,306	)

(1) Amounts presented are net of taxes. See NOTE 6 - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME for total effect on other comprehensive income from derivatives designated as cash flow hedges for the periods presented.

Summary of Offsetting of Financial Assets and Derivative Assets

Offsetting of Financial Assets and Derivative Assets

At December 31, 2016

	Gross Amount of Recognized Assets				Gross Amounts Offset in the Consolidated Balance Sheet				Net Amounts of Assets Presented in the Consolidated Balance Sheet				Gross Amounts Not Offset in the Consolidated Balance Sheet								Net Amount
													Financial Instruments				Cash Collateral Received
(amounts in thousands)
Description
Interest rate swap derivatives with institutional counterparties	$	4,723			$	—			$	4,723			$	—			$	—			$	4,723

Offsetting of Financial Assets and Derivative Assets

At September 30, 2017

	Gross Amount of Recognized Assets				Gross Amounts Offset in the Consolidated Balance Sheet				Net Amounts of Assets Presented in the Consolidated Balance Sheet				Gross Amounts Not Offset in the Consolidated Balance Sheet								Net Amount
													Financial Instruments				Cash Collateral Received
(amounts in thousands)
Description
Interest rate swap derivatives with institutional counterparties	$	4,190			$	—			$	4,190			$	—			$	1,900			$	2,290

Summary of Offsetting of Financial Liabilities and Derivative Liabilities

Offsetting of Financial Liabilities and Derivative Liabilities

At December 31, 2016

	Gross Amount of Recognized Liabilities				Gross Amounts Offset in the Consolidated Balance Sheet				Net Amounts of Liabilities Presented in the Consolidated Balance Sheet				Gross Amounts Not Offset in the Consolidated Balance Sheet								Net Amount
													Financial Instruments				Cash Collateral Pledged
(amounts in thousands)
Description
Interest rate swap derivatives with institutional counterparties	$	9,825			$	—			$	9,825			$	—			$	4,472			$	5,353

Offsetting of Financial Liabilities and Derivative Liabilities

At September 30, 2017

	Gross Amount of Recognized Liabilities				Gross Amounts Offset in the Consolidated Balance Sheet				Net Amounts of Liabilities Presented in the Consolidated Balance Sheet				Gross Amounts Not Offset in the Consolidated Balance Sheet
													Financial Instruments				Cash Collateral Pledged				Net Amount
(amounts in thousands)
Description
Interest rate swap derivatives with institutional counterparties	$	8,400			$	—			$	8,400			$	—			$	8,262			$	138

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Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312

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-Topic 210
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

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