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Derivative Instruments and Hedging Activities
 12 Months Ended
Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
The following table indicates the amounts representing the value of derivative assets and derivative liabilities at December 31:
 
Derivatives (included in
Other Assets)
 
Derivatives (included
in Other Liabilities)
(dollars in thousands)
2017
 
2016
 
2017
 
2016
Derivatives not Designated as Hedging Instruments
 
 
 
 
 
 
 
Interest Rate Swap Contracts—Commercial Loans
 
 
 
 
 
 
 
Fair value
$
3,074

 
$
6,960

 
$
3,055

 
$
6,958

Notional amount
263,841

 
282,930

 
263,841

 
282,930

Collateral posted
—

 
—

 
1,448

 
14,340

Interest Rate Lock Commitments—Mortgage Loans
 
 
 
 
 
 
 
Fair value
226

 
236

 
—

 
—

Notional amount
6,860

 
8,490

 
—

 
—

Forward Sale Contracts—Mortgage Loans
 
 
 
 
 
 
 
Fair value
—

 
—

 
5

 
27

Notional amount
—

 
—

 
6,580

 
8,216


Presenting offsetting derivatives that are subject to legally enforceable netting arrangements with the same party is permitted. For example, we may have a derivative asset and a derivative liability with the same counterparty to a swap transaction and are permitted to offset the asset position and the liability position resulting in a net presentation.
The following table indicates the gross amounts of commercial loan swap derivative assets and derivative liabilities, the amounts offset and the carrying values in the Consolidated Balance Sheets at December 31:
 
Derivatives (included
in Other Assets)
 
Derivatives (included
in Other Liabilities)
(dollars in thousands)
2017
 
2016
 
2017
 
2016
Derivatives not Designated as Hedging Instruments
 
 
 
 
 
 
 
Gross amounts recognized
$
4,974

 
$
8,590

 
$
4,955

 
$
8,588

Gross amounts offset
(1,900
)
 
(1,630
)
 
(1,900
)
 
(1,630
)
Net amounts presented in the Consolidated Balance Sheets
3,074

 
6,960

 
3,055

 
6,958

Gross amounts not offset(1)
—

 
—

 
(1,448
)
 
(14,340
)
Net Amount
$
3,074

 
$
6,960

 
$
1,607

 
$
(7,382
)
(1)Amounts represent posted collateral.



NOTE 11. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - continued
The following table indicates the gain or loss recognized in income on derivatives for the years ended December 31:
(dollars in thousands)
2017

 
2016

 
2015

Derivatives not Designated as Hedging Instruments
 
 
 
 
 
Interest rate swap contracts—commercial loans
$
17

 
$
(16
)
 
$
(8
)
Interest rate lock commitments—mortgage loans
(11
)
 
(25
)
 
26

Forward sale contracts—mortgage loans
52

 
(22
)
 
52

Total Derivative (Loss) Gain
$
58

 
$
(63
)
 
$
70