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Commitments, Contingencies and Derivatives (Tables)
 12 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Summary of Contractual and Notional Amounts of Financial Instruments
The following is a summary of the contractual and notional amounts of the Company’s financial instruments:
 
December 31,
  
2018
 
2017
Lending-Related Instruments:
  

 
  

Loan origination commitments and unadvanced lines of credit:
  

 
  

Home equity
$
548,784

 
$
477,401

Commercial and commercial real estate
67,235

 
49,482

Residential
36,109

 
41,368

Letters of credit
3,063

 
2,848

Other commitments
2,447

 
523

Derivative Financial Instruments:
 
 
 
Customer loan swaps
$
833,030

 
$
703,336

Junior subordinated debt interest rate swaps
43,000

 
43,000

FHLBB advance interest rate swaps
25,000

 
50,000

Fixed-rate mortgage interest rate lock commitments
12,077

 
21,746

Forward delivery commitments
4,315

 
8,065
Schedule of Interest Rate Derivatives
The following table presents the total positions, notional and fair value of the Bank's customer loans swaps with its commercial customers and the corresponding interest rate swap agreements with counterparty for the periods indicated:
 
 
 
 
December 31,
 
 
 
 
2018
 
2017
 
 
Balance Sheet Location
 
Number of Positions
 
Notional
 
Fair Value
 
Number of Positions
 
Notional
 
Fair Value
Receive fixed, pay variable
 
Accrued interest and other liabilities
 
57

 
$
297,624

 
$
(7,841
)
 
42

 
$
226,884

 
$
(5,036
)
Receive fixed, pay variable
 
Other assets
 
25

 
118,891

 
3,467

 
23

 
124,784

 
1,799

Pay fixed, receive variable
 
Other assets
 
82

 
416,515

 
4,374

 
65

 
351,668

 
3,237

Total
 
 
 
164

 
$
833,030

 
$
—

 
130

 
$
703,336

 
$
—

The Company's pipeline of mortgage loans with fixed-rate interest rate lock commitments were as follows for the periods indicated:
 
 
 
 
December 31,
 
 
 
 
2018
 
2017
 
 
Presentation on Consolidated Statements of Condition
 
Notional
 
Fair
Value
 
Notional
 
Fair
Value
Fixed-rate mortgage interest rate locks
 
Other assets
 
$
8,239

 
$
95

 
$
19,886

 
$
307

Fixed-rate mortgage interest rate locks
 
Accrued interest and other liabilities
 
3,838

 
(28
)
 
1,860

 
(22
)
Total
 
 
 
$
12,077

 
$
67

 
$
21,746

 
$
285
Summary of Contractual and Notional Amounts of Company's Financial Instruments
The details of the FHLBB advance interest rate swaps for the periods indicated were as follows:
 
 
 
 
 
 
 
 
 
 
December 31,
 
 
 
 
 
 
 
 
 
 
2018
 
2017
Trade
Date
 
Maturity
Date
 
Variable Index
Received
 
Fixed Rate
Paid
 
Presentation on Consolidated Statements of Condition
 
Notional
Amount
 
Fair
Value
 
Notional
Amount
 
Fair
Value
2/25/2015
 
2/25/2018
 
1-Month USD LIBOR
 
1.54%
 
Other assets
 
$
—

 
$
—

 
$
25,000

 
$
20

2/25/2015
 
2/25/2019
 
1-Month USD LIBOR
 
1.74%
 
Other assets
 
25,000

 
30

 
25,000

 
1

 
 
 
 
 
 
 
 
 
 
$
25,000

 
$
30

 
$
50,000

 
$
21


The details of the junior subordinated debt interest rate swaps for the periods indicated were as follows:
 
 
 
 
 
 
 
 
 
 
December 31,
 
 
 
 
 
 
 
 
 
 
2018
 
2017
Trade
 Date
 
Maturity Date
 
Variable Index
Received
 
Fixed Rate
Paid
 
Presentation on Consolidated Statements of Condition
 
Notional
 Amount
 
Fair
Value
 
Notional
 Amount
 
Fair
Value
3/18/2009
 
6/30/2021
 
3-Month USD LIBOR
 
5.09%
 
Accrued interest and other liabilities
 
$
10,000

 
$
(272
)
 
$
10,000

 
$
(527
)
7/8/2009
 
6/30/2029
 
3-Month USD LIBOR
 
5.84%
 
Accrued interest and other liabilities
 
10,000

 
(1,655
)
 
10,000

 
(2,133
)
5/6/2010
 
6/30/2030
 
3-Month USD LIBOR
 
5.71%
 
Accrued interest and other liabilities
 
10,000

 
(1,636
)
 
10,000

 
(2,129
)
3/14/2011
 
3/30/2031
 
3-Month USD LIBOR
 
4.35%
 
Accrued interest and other liabilities
 
5,000

 
(877
)
 
5,000

 
(1,137
)
5/4/2011
 
7/7/2031
 
3-Month USD LIBOR
 
4.14%
 
Accrued interest and other liabilities
 
8,000

 
(1,242
)
 
8,000

 
(1,645
)
 
 
 
 
 
 
 
 
 
 
$
43,000

 
$
(5,682
)
 
$
43,000

 
$
(7,571
)
The Company's forward delivery commitments on loans held for sale was as follows for the periods indicated:
 
 
 
 
December 31,
 
 
 
 
2018
 
2017
 
 
Balance Sheet Location
 
Notional
 
Fair
Value
 
Notional
 
Fair
Value
Forward delivery commitments ("best-effort")
 
Other assets
 
$
2,593

 
$
32

 
$
6,692

 
$
158

Forward delivery commitments ("best-effort")
 
Accrued interest and other liabilities
 
1,722

 
(17
)
 
1,373

 
(16
)
Total
 
 
 
$
4,315

 
$
15

 
$
8,065

 
$
142
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The table below presents the effect of the Company’s derivative financial instruments included in OCI and current earnings for the periods indicated:
 
 
For The Year Ended
December 31,
 
 
2018
 
2017
 
2016
Derivatives designated as cash flow hedges
 
 
 
 
 
 
Effective portion of unrealized losses recognized within AOCI during the period, net of tax
 
$
837

 
$
(248
)
 
$
(637
)
Net reclassification adjustment for effective portion of cash flow hedges included in interest expense, gross(1)
 
$
831

 
$
1,592

 
$
2,026


(1)
Reclassified into the consolidated statements of income within interest expense.