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Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Financial Instruments | The following table presents the fair value of Customers’ derivative financial instruments as well as their presentation on the consolidated balance sheets at December 31, 2019 and 2018.
|  | December 31, 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 |  | $ | 21,374 |
Total |  |  |  | $ | — |  |  |  |  | $ | 21,374 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate swaps |  | Other assets |  | $ | 23,301 |  |  | Other liabilities |  | $ | 24,797 |
Interest rate caps |  | Other assets |  | 9 |  |  | Other liabilities |  | 9 |
Credit contracts |  | Other assets |  | 219 |  |  | Other liabilities |  | (241) |
Residential mortgage loan commitments |  | Other assets |  | 79 |  |  | Other liabilities |  | — |
Total |  |  |  | $ | 23,608 |  |  |  |  | $ | 24,565 |
|  | 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 Instruments on Comprehensive Income | The following table presents amounts included in the consolidated statements of income related to derivatives not designated as hedges for the years ended December 31, 2019, 2018 and 2017.
|  |  | Amount of Income Recognized in Earnings For the Years Ended December 31, |  |  |  |
(amounts in thousands) | Income Statement Location |  | 2019 |  | 2018 |  | 2017
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Interest rate swaps (1) | Other non-interest income |  | $ | 2,549 |  |  | $ | 3,409 |  |  | $ | 604 |
Interest rate caps | Other non-interest income |  | 24 |  |  | — |  |  | — |
Credit contracts | Other non-interest income |  | 589 |  |  | 127 |  |  | 171 |
Residential mortgage loan commitments | Mortgage banking income |  | 10 |  |  | 9 |  |  | 15 |
Total |  |  | $ | 3,172 |  |  | $ | 3,545 |  |  | $ | 790 |
(1)Includes income recognized from discontinued cash flow hedges for the year ended December 31, 2018.
Effect of Derivative Instruments on Comprehensive Income The following table presents the effect of Customers' derivative financial instruments on comprehensive income for the years ended December 31, 2019, 2018 and 2017.
|  | For the Year Ended December 31, |  |  |  |  |  |  |  |  |  |  |  |
|  | 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 |  |  |  |
(amounts in thousands) |  | 2019 |  | 2018 |  | 2017 |  |  |  | 2019 |  | 2018 |  | 2017
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | (15,656) |  |  | $ | 1,477 |  |  | $ | 406 |  |  | Interest expense |  | $ | (1,407) |  |  | $ | 95 |  |  | $ | (2,634) |
|  |  |  |  |  |  |  | Other non-interest income (2) |  | — |  |  | 2,822 |  |  | — |
|  |  |  |  |  |  |  |  |  | $ | (1,407) |  |  | $ | 2,917 |  |  | $ | (2,634) |
(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. (2)Includes income recognized from discontinued cash flow hedges.
Summary of Offsetting of Financial Assets and Derivative Assets | The following tables present derivative instruments that are subject to enforceable master netting arrangements. Customers' interest rate swaps and interest rate caps with institutional counterparties are subject to master netting arrangements and are included in the table below. Interest rate swaps and interest rate caps with commercial banking customers and residential mortgage loan commitments are not subject to master netting arrangements and are excluded from the table below. Customers has not made a policy election to offset its derivative positions.
|  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheet |  |  |  |
(amounts in thousands) | Gross Amounts Recognized on the Consolidated Balance Sheets |  |  |  |  |  | Financial Instruments |  | Cash Collateral Received/(Posted) |  | Net Amount
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative assets with institutional counterparties | $ | 432 |  |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 432 |
Interest rate derivative liabilities with institutional counterparties | $ | 45,727 |  |  |  |  |  |  | $ | — |  |  | $ | (45,727) |  |  | $ | — |
|  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheet |  |  |  |
(amounts in thousands) | Gross Amounts Recognized on the Consolidated Balance Sheets |  |  |  |  |  | Financial Instruments |  | Cash Collateral Received/(Posted) |  | Net Amount
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative assets with institutional counterparties | $ | 7,529 |  |  |  |  |  |  | $ | — |  |  | $ | 1,860 |  |  | $ | 5,669 |
Interest rate derivative liabilities with institutional counterparties | $ | 9,077 |  |  |  |  |  |  | $ | — |  |  | $ | (702) |  |  | $ | 8,375 |
Summary of Offsetting of Financial Liabilities and Derivative Liabilities | The following tables present derivative instruments that are subject to enforceable master netting arrangements. Customers' interest rate swaps and interest rate caps with institutional counterparties are subject to master netting arrangements and are included in the table below. Interest rate swaps and interest rate caps with commercial banking customers and residential mortgage loan commitments are not subject to master netting arrangements and are excluded from the table below. Customers has not made a policy election to offset its derivative positions.
|  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheet |  |  |  |
(amounts in thousands) | Gross Amounts Recognized on the Consolidated Balance Sheets |  |  |  |  |  | Financial Instruments |  | Cash Collateral Received/(Posted) |  | Net Amount
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative assets with institutional counterparties | $ | 432 |  |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 432 |
Interest rate derivative liabilities with institutional counterparties | $ | 45,727 |  |  |  |  |  |  | $ | — |  |  | $ | (45,727) |  |  | $ | — |
|  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheet |  |  |  |
(amounts in thousands) | Gross Amounts Recognized on the Consolidated Balance Sheets |  |  |  |  |  | Financial Instruments |  | Cash Collateral Received/(Posted) |  | Net Amount
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative assets with institutional counterparties | $ | 7,529 |  |  |  |  |  |  | $ | — |  |  | $ | 1,860 |  |  | $ | 5,669 |
Interest rate derivative liabilities with institutional counterparties | $ | 9,077 |  |  |  |  |  |  | $ | — |  |  | $ | (702) |  |  | $ | 8,375 |

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