Derivative Instruments and Hedge Activities (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition

The following tables present the fair value of the Company’s derivative financial instruments and classification on the Consolidated Statements of Financial Condition as of December 31, 2017 and 2016:

	2017						2016
			Fair Value						Fair Value
	Notional Amount		Other Assets		Other Liabilities		Notional Amount		Other Assets		Other Liabilities
Derivatives designated as hedging instruments
Interest rate swaps designated as cash flow hedges	$	250,000	$	5,030	$	38	$	100,000	$	3,719	$	—
Derivatives not designated as hedging instruments
Other interest rate swaps		94,726		951		956		51,213		598		559
Total derivatives	$	344,726	$	5,981	$	994	$	151,213	$	4,317	$	559

Summary of Net Gains (Losses) Recorded in Accumulated Other Comprehensive Income (Loss) and Consolidated Statements of Operations Relating to Cash Flow Derivative Instruments

The following table reflects the net gains (losses) recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the year ended December 31, 2017:

Amount of

Gain

Recognized in

OCI

(Effective

Portion)

Amount of

Loss

Reclassified

from OCI to

Income as an

Increase to

Interest

Expense

Amount of

Gain (Loss)

Recognized in

Other

Non-Interest

Income

(Ineffective

Portion)

Interest rate swaps

688

(579

)

—

Summary of Other Interest Rate Swaps

The following table reflects other interest rate swaps as of December 31, 2017:

Notional amounts	$	94,726
Derivative assets fair value		951
Derivative liabilities fair value		956
Weighted average pay rates		4.38	%
Weighted average receive rates		3.73	%
Weighted average maturity	6.3 years

Summary of Company's Interest Rate Derivative and Offsetting Positions

The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative asset and liabilities on the Consolidated Statements of Financial Condition. The table below summarizes the Company’s interest rate derivatives and offsetting positions as of December 31, 2017:

	Derivative Assets Fair Value			Derivative Liabilities Fair Value
Gross amounts recognized	$	5,981		$	994
Less: Amounts offset in the Consolidated Statements of Financial Condition		—			—
Net amount presented in the Consolidated Statements of Financial Condition	$	5,981		$	994
Gross amounts not offset in the Consolidated Statements of Financial Condition
Offsetting derivative positions		(232	)		(232	)
Collateral posted		(5,371	)		(745	)
Net credit exposure	$	378		$	17

Cash Flow Hedges

Summary of Cash Flow Hedges

The following table reflects the cash flow hedges as of December 31, 2017:

Notional amounts	$	250,000
Derivative assets fair value		5,030
Derivative liabilities fair value		38
Weighted average pay rates		1.67	%
Weighted average receive rates		1.63	%
Weighted average maturity	4.2 years