XML 43 R30.htm IDEA: XBRL DOCUMENT v3.8.0.1
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of information about derivative assets and liabilities
Information about derivative assets and liabilities at September 30, 2017, follows:

 
 
 
 
Weighted Average Maturity
 
Estimated Fair Value Asset (Liability)
 
 
Notional
Amount
 
 
 
 
(In thousands)
 
(In years)
 
(In thousands)
Cash flow hedges:
 
 

 
 
 
 

Interest rate caps agreements
 
$
90,000

 
5.4
 
$
793

Total cash flow hedges
 
90,000

 
5.4
 
793

 
 
 
 
 
 
 
Economic hedges:
 
 

 
 
 
 

Forward sale commitments
 
16,547

 
0.2
 
(173
)
Total economic hedges
 
16,547

 
0.2
 
(173
)
 
 
 
 
 
 
 
Non-hedging derivatives:
 
 

 
 
 
 

Interest rate lock commitments
 
16,742

 
0.2
 
16

Total non-hedging derivatives
 
16,742

 
0.2
 
16

 
 
 
 
 
 
 
Total
 
$
123,289

 
 
 
$
636


As of December 31, 2016, the Company had interest rate cap agreements totaling $90 million (notional amount), with a weighted average maturity of 6.1 years, and an estimated fair value of $1,748.


Information about derivative assets and liabilities for the three and nine months ended September 30, 2017 and September 30, 2016, follows:

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In thousands)
 
2017
 
2016
 
2017
 
2016
Cash flow hedges:
 
 
 
 
 
 
 
 
Interest rate cap agreements
 
 
 
 
 
 
 
 
Realized in interest expense
 
$
74

 
$
14

 
$
168

 
$
24

 
 
 
 
 
 
 
 
 
Economic hedges:
 
 

 
 

 
 
 
 
Forward commitments
 
 

 
 

 
 
 
 
Realized loss in other non-interest income
 
58

 
—

 
(29
)
 
—

 
 
 
 
 
 
 
 
 
Non-hedging derivatives:
 
  

 
 

 
  
 
 
Interest rate lock commitments
 
  

 
 

 
  
 
 
Realized loss in other non-interest income
 
19

 
—

 
(5
)
 
—