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COMMITMENTS, CONTINGENCIES AND DERIVATIVES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
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 off-balance sheet financial instruments:
| March 31, 2019 |  | December 31, 2018
Lending-Related Instruments: |  |  |  |  |
Commitments to extend credit | $ | 669,193 |  |  | $ | 654,575 |
Standby letters of credit | 5,938 |  |  | 3,063 |
Derivative Financial Instruments: |  |  |  |
Customer loan swaps | $ | 802,580 |  |  | $ | 833,030 |
Junior subordinated debt interest rate swaps | 43,000 |  |  | 43,000 |
Fixed-rate mortgage interest rate lock commitments | 22,840 |  |  | 12,077 |
Forward delivery commitments | 8,711 |  |  | 4,315 |
FHLBB advance interest rate swaps | — |  |  | 25,000 |
Summary of Derivative Financial Instruments | The following table presents the total positions, notional and fair value of the Company's customer loans swaps with its commercial customers and the corresponding interest rate swap agreements with counterparty for the periods indicated:
|  |  |  | March 31, 2019 |  | December 31, 2018
|  | Presentation on Consolidated Statements of Condition |  | Number of Positions |  | Notional Amount |  | Fair Value |  | Number of Positions |  | Notional Amount |  | Fair Value
Receive fixed, pay variable |  | Accrued interest and other liabilities |  | 36 |  |  | $ | 149,813 |  |  | $ | (3,320 | ) |  | 57 |  |  | $ | 297,624 |  |  | $ | (7,841 | )
Receive fixed, pay variable |  | Other assets |  | 46 |  |  | 251,477 |  |  | 7,722 |  |  | 25 |  |  | 118,891 |  |  | 3,467 |
Pay fixed, receive variable |  | (Accrued interest and other liabilities)/other assets |  | 82 |  |  | 401,290 |  |  | (4,402 | ) |  | 82 |  |  | 416,515 |  |  | 4,374 |
Total |  |  |  | 164 |  |  | $ | 802,580 |  |  | $ | — |  |  | 164 |  |  | $ | 833,030 |  |  | $ | — |
The Company's pipeline of mortgage loans with fixed-rate interest rate lock commitments for which it intends to sell the loan upon origination were as follows for the dates indicated:
|  |  |  | March 31, 2019 |  | December 31, 2018
|  | Presentation on Consolidated Statements of Condition |  | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Fixed-rate mortgage interest rate locks |  | Other assets |  | $ | 18,465 |  |  | $ | 293 |  |  | $ | 8,239 |  |  | $ | 95 |
Fixed-rate mortgage interest rate locks |  | Accrued interest and other liabilities |  | 4,375 |  |  | (45 | ) |  | 3,838 |  |  | (28 | )
Total |  |  |  | $ | 22,840 |  |  | $ | 248 |  |  | $ | 12,077 |  |  | $ | 67 |
The details of the junior subordinated debt interest rate swaps for the periods indicated were as follows:
|  |  |  |  |  |  |  |  |  | March 31, 2019 |  | December 31, 2018
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 |  |  | $ | (303 | ) |  | $ | 10,000 |  |  | $ | (272 | )
7/8/2009 |  | 6/30/2029 |  | 3-Month USD LIBOR |  | 5.84% |  | Accrued interest and other liabilities |  | 10,000 |  |  | (1,932 | ) |  | 10,000 |  |  | (1,655 | )
5/6/2010 |  | 6/30/2030 |  | 3-Month USD LIBOR |  | 5.71% |  | Accrued interest and other liabilities |  | 10,000 |  |  | (1,938 | ) |  | 10,000 |  |  | (1,636 | )
3/14/2011 |  | 3/30/2031 |  | 3-Month USD LIBOR |  | 4.35% |  | Accrued interest and other liabilities |  | 5,000 |  |  | (1,036 | ) |  | 5,000 |  |  | (877 | )
5/4/2011 |  | 7/7/2031 |  | 3-Month USD LIBOR |  | 4.14% |  | Accrued interest and other liabilities |  | 8,000 |  |  | (1,502 | ) |  | 8,000 |  |  | (1,242 | )
|  |  |  |  |  |  |  |  |  | $ | 43,000 |  |  | $ | (6,711 | ) |  | $ | 43,000 |  |  | $ | (5,682 | )
Forward Delivery Commitments | The Company's forward delivery commitments on loans held for sale was as follows for the periods indicated:
|  |  |  | March 31, 2019 |  | December 31, 2018
|  | Balance Sheet Location |  | Notional |  | Fair Value |  | Notional |  | Fair Value
Forward delivery commitments ("best effort") |  | Other Assets |  | $ | 5,811 |  |  | $ | 129 |  |  | $ | 2,593 |  |  | $ | 32 |
Forward delivery commitments ("best effort") |  | Accrued interest and other liabilities |  | 2,900 |  |  | (31 | ) |  | 1,722 |  |  | (17 | )
Total |  |  |  | $ | 8,711 |  |  | $ | 98 |  |  | $ | 4,315 |  |  | $ | 15 |
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 Three Months Ended March 31,
|  | 2019 |  | 2018
Derivatives designated as cash flow hedges: |  |  |  |
Effective portion of unrealized (losses) gains recognized within OCI during the period, net of tax |  | $ | (925 | ) |  | $ | 1,328 |
Net reclassification adjustment for effective portion of cash flow hedges included in interest expense, gross |  | $ | 119 |  |  | $ | 64 |

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