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Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2019

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 June 30, 2019 and December 31, 2018.

		June 30, 2019
		Derivative Assets						Derivative Liabilities
(amounts in thousands)		Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value
Derivatives designated as cash flow hedges:
Interest rate swaps		Other assets		$	—			Other liabilities		$	22,696
Total				$	—					$	22,696
Derivatives not designated as hedging instruments:
Interest rate swaps		Other assets		$	22,278			Other liabilities		$	23,841
Credit contracts		Other assets		256				Other liabilities		99
Residential mortgage loan commitments		Other assets		145				Other liabilities		—
Total				$	22,679					$	23,940

		December 31, 2018
		Derivative Assets						Derivative Liabilities
(amounts in thousands)		Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value
Derivatives designated as cash flow hedges:
Interest rate swaps		Other assets		$	256			Other liabilities		$	1,502
Total				$	256					$	1,502
Derivatives not designated as hedging instruments:
Interest rate swaps		Other assets		$	14,300			Other liabilities		$	14,730
Credit contracts		Other assets		68				Other liabilities		54
Residential mortgage loan commitments		Other assets		69				Other liabilities		—
Total				$	14,437					$	14,784

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 six months ended June 30, 2019 and 2018.

	Three Months Ended June 30, 2019
(amounts in thousands)	Income Statement Location		Amount of Income (Loss) Recognized in Earnings
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-interest income		$	386
Credit contracts	Other non-interest income		41
Residential mortgage loan commitments	Mortgage banking income		68
Total			$	495

	Three Months Ended June 30, 2018
(amounts in thousands)	Income Statement Location		Amount of Income (Loss) Recognized in Earnings
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-interest income		$	(51	)
Credit contracts	Other non-interest income		(15		)
Residential mortgage loan commitments	Mortgage banking income		50
Total			$	(16	)

	Six Months Ended June 30, 2019
(amounts in thousands)	Income Statement Location		Amount of Income Recognized in Earnings
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-interest income		$	98
Credit contracts	Other non-interest income		144
Residential mortgage loan commitments	Mortgage banking income		76
Total			$	318

	Six Months Ended June 30, 2018
(amounts in thousands)	Income Statement Location		Amount of Income (Loss) Recognized in Earnings
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-interest income		$	334
Credit contracts	Other non-interest income		(38		)
Residential mortgage loan commitments	Mortgage banking income		73
Total			$	369

	Three Months Ended June 30, 2019
(amounts in thousands)	Amount of Gain (Loss) Recognized in OCI on Derivatives (1)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	(10,435	)		Interest expense		$	(4	)

	Three Months Ended June 30, 2018
(amounts in thousands)	Amount of Gain (Loss) Recognized in OCI on Derivatives (1)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
Derivatives in cash flow hedging relationships:
Interest rate swaps	$	1,403			Interest expense		$	259

	Six Months Ended June 30, 2019
(amounts in thousands)	Amount of Gain (Loss) Recognized in OCI on Derivatives (1)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
Derivative in cash flow hedging relationships:
Interest rate swaps	$	(15,570	)		Interest expense		$	409

	Six Months Ended June 30, 2018
(amounts in thousands)	Amount of Gain (Loss) Recognized in OCI on Derivatives (1)				Location of Gain (Loss) Reclassified from Accumulated OCI into Income		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
Derivative in cash flow hedging relationships:
Interest rate swaps	$	2,049			Interest expense		$	128

(1) Amounts presented are net of taxes. See NOTE 4 - CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) for the total effect on other comprehensive income (loss) 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 June 30, 2019

	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
(amounts in thousands)													Financial Instruments				Cash Collateral Received				Net Amount
Description
Interest rate swap derivatives with institutional counterparties	$	736			$	—			$	736			$	—			$	—			$	736

Offsetting of Financial Assets and Derivative Assets

At December 31, 2018

	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
(amounts in thousands)													Financial Instruments				Cash Collateral Received				Net Amount
Description
Interest rate swap derivatives with institutional counterparties	$	7,529			$	—			$	7,529			$	—			$	1,860			$	5,669

Summary of Offsetting of Financial Liabilities and Derivative Liabilities

Offsetting of Financial Liabilities and Derivative Liabilities

At June 30, 2019

	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
(amounts in thousands)													Financial Instruments				Cash Collateral Pledged				Net Amount
Description
Interest rate swap derivatives with institutional counterparties	$	45,777			$	—			$	45,777			$	—			$	44,832			$	945

Offsetting of Financial Liabilities and Derivative Liabilities

At December 31, 2018

	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
(amounts in thousands)													Financial Instruments				Cash Collateral Pledged
Description
Interest rate swap derivatives with institutional counterparties	$	9,077			$	—			$	9,077			$	—			$	702			$	8,375

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