XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.19.1

Derivative Instruments | 3 Months Ended
--- | ---
Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | Derivative Instruments As of March 31, 2019 and December 31, 2018, the Company primarily utilizes non-hedging derivative financial instruments with commercial banking customers to facilitate their interest rate management strategies. For these instruments, the Company acts as an intermediary for its customers and has offsetting contracts with financial institution counterparties. Changes in the fair value of these underlying derivative contracts generally offset each other and do not significantly impact the Company's results of operations. The following table summarizes the notional and fair value of these derivative instruments (in thousands):
| March 31, 2019 | December 31, 2018
| Notional Amount | Fair Value | Notional Amount | Fair Value
Non-hedging interest rate derivatives: |  |  |  |
Customer counterparties: |  |  |  |
Loan interest rate swap - assets | $ | 235,217 |  | $ | 6,475 |  | $ | 132,146 |  | $ | 3,131 |
Loan interest rate swap - liabilities | 275,227 |  | 7,007 |  | 372,223 |  | 13,774 |
Non-hedging interest rate derivatives: |  |  |  |
Financial institution counterparties: |  |  |  |
Loan interest rate swap - assets | 280,823 |  | 7,077 |  | 403,500 |  | 13,902 |
Loan interest rate swap - liabilities | 235,217 |  | 6,475 |  | 132,146 |  | 3,131 |
The following table summarizes the change in fair value of these derivative instruments (in thousands):
| Three months ended March 31,
2019 | 2018
Change in Fair Value Non-Hedging Interest Rate Derivatives: |  |
Other income - derivative assets | $ | (2,879 | ) | $ | 7,101 |
Other income - derivative liabilities | 2,879 |  | (7,101 | )
Other expense - derivative liabilities | 58 |  | 90 |
Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements. The Company's derivative transactions with financial institution counterparties are generally executed under International Swaps and Derivative Association ("ISDA") master agreements which include "right of setoff" provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Company does not generally offset financial instruments for financial reporting purposes. Information about financial instruments that are eligible for offset in the consolidated balance sheet as of March 31, 2019 is presented in the following tables (in thousands):
|  |  |  | Gross Amounts |  |
|  |  |  | Not Offset in the |  |
|  |  |  | Balance Sheet |  |
|  |  |  |  |  | Total |
|  |  |  |  |  | of Gross |
|  |  |  |  |  | Amounts |
|  |  |  |  |  | Not Offset in |
|  |  |  |  |  | the Statement |
|  |  |  |  |  | of Financial |
|  |  |  |  |  | Position |
|  |  |  | Netting |  | Including |
| Gross | Gross | Net Amounts | Adjustment |  | Applicable |
| Amounts | Amounts | of Assets | per |  | Netting |
| Recognized in | Offset in the | Presented in | Applicable |  | Agreement |
| Statement of | Statement of | the Statement | Master | Fair Value | and Fair |
| Financial | Financial | of Financial | Netting | of Financial | Value of |
Description | Position | Position | Position | Arrangements | Collateral | Collateral | Net Amount
Non-hedging derivative assets: |  |  |  |  |  |
Interest rate swap agreements - customer counterparties (1) | $ | 6,475 |  | $ | — |  | $ | 6,475 |  | $ | — |  | $ | 6,475 |  | $ | 6,475 |  | $ | — |
Interest rate swap agreements - financial institution counterparties (2) | 7,077 |  | — |  | 7,077 |  | 5,645 |  | — |  | 5,645 |  | 1,432 |
Non-hedging derivative liabilities: |  |  |  |  |  |
Interest rate swap agreements - customer counterparties (1) | 7,007 |  | — |  | 7,007 |  | — |  | 7,007 |  | 7,007 |  | — |
Interest rate swap agreements - financial institution counterparties (3) | 6,475 |  | — |  | 6,475 |  | 5,645 |  | 830 |  | 6,475 |  | — |
* For instances where the fair value of financial collateral meets or exceeds the amounts presented in the Consolidated Balance Sheets, no value is displayed to represent full collateralization.
(1) The underlying collateral on the loan serves as collateral for the derivative financial instrument.
(2) The financial institution counterparty posts collateral to the Company.
(3) The Company posts collateral to the financial institution counterparty.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration