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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Sep. 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 September 30, 2019 and December 31, 2018:
 
 
September 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

 
3.4
 
$
89

Interest rate swap on deposits
 
50,000

 
4.5
 
(2,179
)
Total cash flow hedges
 
140,000

 
 
 
(2,090
)
 
 
 
 
 
 
 
Economic hedges:
 
 

 
 
 
 

Forward sale commitments
 
7,762

 
0.1
 
(61
)
Total economic hedges
 
7,762

 
 
 
(61
)
 
 
 
 
 
 
 
Non-hedging derivatives:
 
 

 
 
 
 

Interest rate lock commitments
 
12,242

 
0.1
 
78

Customer loan derivative liability
 
169,569

 
9.8
 
(10,923
)
Customer loan derivative asset
 
169,569

 
9.8
 
10,923

Total non-hedging derivatives
 
351,380

 

 
78

 
 
 
 
 
 
 
Total
 
$
499,142

 
 
 
$
(2,073
)

 
 
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 nine months ended September 30, 2019 and 2018 is, as follows:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in thousands)
 
2019
 
2018
 
2019
 
2018
Cash flow hedges:
 
 
 
 
 
 
 
 
Interest rate cap agreements
 
 
 
 
 
 
 
 
Realized loss in interest expense
 
$
(183
)
 
$
(137
)
 
$
(521
)
 
$
(367
)
Interest rate swap on deposits
 
 
 
 
 
 
 
 
Realized gain in interest expense
 
17

 
—

 
17

 
—

 
 
 
 
 
 
 
 
 
Economic hedges:
 
 

 
 

 
 
 
 
Forward commitments
 
 

 
 

 
 
 
 
Realized (loss) gain in other non-interest income
 
(31
)
 
43

 
(61
)
 
190

 
 
 
 
 
 
 
 
 
Non-hedging derivatives:
 
  

 
 

 
  
 
 
Interest rate lock commitments
 
  

 
 

 
  
 
 
Realized gain in other non-interest income
 
7

 
—

 
70

 
9