XML 44 R31.htm IDEA: XBRL DOCUMENT v3.19.2
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of information about derivative assets and liabilities
The following tables present information about derivative assets and liabilities at June 30, 2019 and December 31, 2018:
 
 
June 30, 2019
 
 
Notional
Amount
 
Weighted Average Maturity
 
Estimated Fair Value Asset (Liability)
 
 
(in thousands)
 
(in years)
 
(in thousands)
Cash flow hedges:
 
 

 
 
 
 

Interest rate cap agreements
 
$
90,000

 
3.6
 
$
174

Interest rate swap on deposits
 
50,000

 
4.8
 
(1,710
)
Total cash flow hedges
 
140,000

 
 
 
(1,536
)
 
 
 
 
 
 
 
Economic hedges:
 
 

 
 
 
 

Forward sale commitments
 
3,561

 
0.1
 
(30
)
Total economic hedges
 
3,561

 
 
 
(30
)
 
 
 
 
 
 
 
Non-hedging derivatives:
 
 

 
 
 
 

Interest rate lock commitments
 
8,082

 
0.1
 
71

Customer loan derivative liability
 
130,245

 
9.2
 
(6,887
)
Customer loan derivative asset
 
130,245

 
9.2
 
6,887

Total non-hedging derivatives
 
268,572

 

 
71

 
 
 
 
 
 
 
Total
 
$
412,133

 
 
 
$
(1,495
)

 
 
December 31, 2018
 
 
Notional
Amount
 
Weighted Average Maturity
 
Estimated Fair Value Asset (Liability)
 
 
(in thousands)
 
(in years)
 
(in thousands)
Cash flow hedges:
 
 

 
 
 
 

Interest rate cap agreements
 
$
90,000

 
4.1
 
$
803

Total cash flow hedges
 
90,000

 

 
803

 
 
 
 
 
 
 
Non-hedging derivatives:
 
 

 
 
 
 

Interest rate lock commitments
 
957

 
0.1
 
8

Customer loan derivative liability
 
45,641

 
9.9
 
(1,353
)
Customer loan derivative asset
 
45,641

 
9.9
 
1,353

Total non-hedging derivatives
 
92,239

 
 
 
8

 
 
 
 
 
 
 
Total
 
$
182,239

 
 
 
$
811


Information about derivative assets and liabilities for the three and six months ended June 30, 2019 and 2018 is, as follows:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in thousands)
 
2019
 
2018
 
2019
 
2018
Cash flow hedges:
 
 
 
 
 
 
 
 
Interest rate cap agreements
 
 
 
 
 
 
 
 
Realized gain (loss) in interest expense
 
$
(174
)
 
$
(122
)
 
$
(337
)
 
$
(230
)
 
 
 
 
 
 
 
 
 
Economic hedges:
 
 

 
 

 
 
 
 
Forward commitments
 
 

 
 

 
 
 
 
Realized (loss) gain in other non-interest income
 
35

 
(23
)
 
(30
)
 
147

 
 
 
 
 
 
 
 
 
Non-hedging derivatives:
 
  

 
 

 
  
 
 
Interest rate lock commitments
 
  

 
 

 
  
 
 
Realized gain in other non-interest income
 
57

 
1

 
63

 
9