XML 96 R30.htm IDEA: XBRL DOCUMENT
v3.20.1

DERIVATIVES AND HEDGING (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Derivative Financial Instruments | The following table presents the total positions, notional and fair value of the Company's customer loans swaps with each party for the dates indicated:
(In thousands, except number of positions) |  |  |  | March 31, 2020 |  | December 31, 2019
| 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 |  | — |  |  | $ | — |  |  | $ | — |  |  | 10 |  |  | $ | 45,243 |  |  | $ | (514 | )
Receive fixed, pay variable |  | Other assets |  | 85 |  |  | 408,545 |  |  | 45,220 |  |  | 75 |  |  | 366,351 |  |  | 17,756 |
Pay fixed, receive variable |  | (Accrued interest and other liabilities) / other assets |  | 85 |  |  | 408,545 |  |  | (45,220 | ) |  | 85 |  |  | 411,594 |  |  | (17,242 | )
Total |  |  |  | 170 |  |  | $ | 817,090 |  |  | $ | — |  |  | 170 |  |  | $ | 823,188 |  |  | $ | — |
The Company's pipeline of mortgage loans with fixed-rate interest rate lock commitments for which it intends to sell the loan upon origination was as follows for the dates indicated:
|  |  |  | March 31, 2020 |  | December 31, 2019
(In thousands) |  | Presentation on Consolidated Statements of Condition |  | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Fixed-rate mortgage interest rate locks |  | Other assets |  | $ | 91,943 |  |  | $ | 2,241 |  |  | $ | 27,087 |  |  | $ | 480 |
Fixed-rate mortgage interest rate locks |  | Accrued interest and other liabilities |  | 36,538 |  |  | (264 | ) |  | 2,519 |  |  | (18 | )
Total |  |  |  | $ | 128,481 |  |  | $ | 1,977 |  |  | $ | 29,606 |  |  | $ | 462 |
The details of the interest rate swap for the dates indicated were as follows:
(Dollars in thousands) |  |  |  |  |  |  |  | March 31, 2020 |  | December 31, 2019
Trade Date |  | Maturity Date |  | Variable Index Paid |  | Fixed Rate Received |  | Presentation on Consolidated Statements of Condition |  | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
6/12/2019 |  | 6/10/2024 |  | 1-Month USD LIBOR |  | 1.693% |  | Other assets |  | $ | 100,000 |  |  | $ | 5,591 |  |  | $ | 100,000 |  |  | $ | 483 |
The Company's forward delivery commitments on loans held for sale for the dates indicated were as follows:
|  |  |  | March 31, 2020 |  | December 31, 2019
(In thousands) |  | Presentation on Consolidated Statements of Condition |  | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Forward delivery commitments ("best effort") |  | Other Assets |  | $ | 26,786 |  |  | $ | 1,185 |  |  | $ | 10,846 |  |  | $ | 312 |
Forward delivery commitments ("best effort") |  | Accrued interest and other liabilities |  | 1,570 |  |  | (30 | ) |  | 1,069 |  |  | (15 | )
Total |  |  |  | $ | 28,356 |  |  | $ | 1,155 |  |  | $ | 11,915 |  |  | $ | 297 |
The details of the junior subordinated debt interest rate swaps for the dates indicated were as follows:
(Dollars in thousands) |  |  |  |  |  |  |  | March 31, 2020 |  | December 31, 2019
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 |  |  | $ | (396 | ) |  | $ | 10,000 |  |  | $ | (299 | )
7/8/2009 |  | 6/30/2029 |  | 3-Month USD LIBOR |  | 5.84% |  | Accrued interest and other liabilities |  | 10,000 |  |  | (3,494 | ) |  | 10,000 |  |  | (2,318 | )
5/6/2010 |  | 6/30/2030 |  | 3-Month USD LIBOR |  | 5.71% |  | Accrued interest and other liabilities |  | 10,000 |  |  | (3,686 | ) |  | 10,000 |  |  | (2,384 | )
3/14/2011 |  | 3/30/2031 |  | 3-Month USD LIBOR |  | 4.35% |  | Accrued interest and other liabilities |  | 5,000 |  |  | (1,993 | ) |  | 5,000 |  |  | (1,279 | )
5/4/2011 |  | 7/7/2031 |  | 3-Month USD LIBOR |  | 4.14% |  | Accrued interest and other liabilities |  | 8,000 |  |  | (3,073 | ) |  | 8,000 |  |  | (1,907 | )
|  |  |  |  |  |  |  |  |  | $ | 43,000 |  |  | $ | (12,642 | ) |  | $ | 43,000 |  |  | $ | (8,187 | )
The details of the Company's interest rate swaps on borrowings for the dates indicated were as follows:
(Dollars in thousands) |  |  |  |  |  |  |  | March 31, 2020
Trade Date |  | Maturity Date |  | Variable Index Received |  | Fixed Rate Paid |  | Presentation on Consolidated Statements of Condition |  | Notional Amount |  | Fair Value
3/2/2020 |  | 3/1/2023 |  | Fed Funds Effective Rate |  | 0.705% |  | Accrued interest and other liabilities |  | $ | 50,000 |  |  | $ | (853 | )
3/26/2020 |  | 3/26/2030 |  | 3-Month USD LIBOR |  | 0.857% |  | Accrued interest and other liabilities |  | 50,000 |  |  | (762 | )
|  |  |  |  |  |  |  |  |  | $ | 100,000 |  |  | $ | (1,615 | )
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,
(In thousands) |  | 2020 |  | 2019
Derivatives designated as cash flow hedges: |  |  |  |
Effective portion of unrealized losses recognized within OCI during the period, net of tax |  | $ | (902 | ) |  | $ | (925 | )
Net reclassification adjustment for effective portion of cash flow hedges included in interest expense, gross |  | $ | 240 |  |  | $ | 119 |
Net reclassification adjustment for effective portion of cash flow hedges included in interest income, gross |  | $ | (52 | ) |  | $ | — |

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 Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsEffectOnOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration