XML 38 R24.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | Information on our derivatives follows:
|  | Asset derivatives |  | Liability derivatives
(in thousands) |  | September 30, 2015 |  | December 31, 2014 |  | September 30, 2015 |  | December 31, 2014
Fair value hedges: |  |  |  |  |  |  |  |
Interest rate contracts notional amount |  | $ | — |  |  | $ | 4,589 |  |  | $ | 29,999 |  |  | $ | 26,899 |
Interest rate contracts fair value 1 |  | $ | — |  |  | $ | 61 |  |  | $ | 2,328 |  |  | $ | 1,996 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance |
| Three months ended
(in thousands) | September 30, 2015 |  |  | September 30, 2014
(Decrease) increase in value of designated interest rate swaps recognized in interest income | $ | (813 | ) |  |  | $ | 21 |
Payment on interest rate swaps recorded in interest income | (231 | ) |  |  | (251 | )
Increase (decrease) in value of hedged loans recognized in interest income | 905 |  |  |  | (54 | )
Decrease in value of yield maintenance agreement recognized against interest income | (13 | ) |  |  | (15 | )
Net loss on derivatives recognized against interest income 2 | $ | (152 | ) |  |  | $ | (299 | )
| Nine months ended
(in thousands) | September 30, 2015 |  | September 30, 2014
(Decrease) increase in value of designated interest rate swaps recognized in interest income | $ | (393 | ) |  | $ | 334 |
Payment on interest rate swaps recorded in interest income | (700 | ) |  | (755 | )
Increase (decrease) in value of hedged loans recognized in interest income | 453 |  |  | (133 | )
Decrease in value of yield maintenance agreement recognized against interest income | (39 | ) |  | (77 | )
Net loss on derivatives recognized against interest income 2 | $ | (679 | ) |  | $ | (631 | )
1 See Note 3 for valuation methodology. 2 Includes hedge ineffectiveness gain of $79 thousand and loss of $48 thousand for the quarters ended September 30, 2015 and September 30, 2014, respectively. Ineffectiveness gain of $21 thousand and $125 thousand was recorded in interest income during the nine months ended September 30, 2015 and September 30, 2014, respectively. Changes in value of swaps were included in the assessment of hedge effectiveness. Hedge ineffectiveness is the measure of the extent to which the change in the fair value of the hedging instruments does not offset the change in the fair value of the hedged items.
Offsetting Assets | Information on financial instruments that are eligible for offset in the consolidated statements of condition follows:
Offsetting of Financial Assets and Derivative Assets
(in thousands) |  |  | Gross Amounts Not Offset in the Statements of Condition |
|  | Gross Amounts | Net Amounts |  |  |
| Gross Amounts | Offset in the | of Assets Presented |  |  |
| of Recognized | Statements of | in the Statements | Financial | Cash Collateral |
| Assets 1 | Condition | of Condition 1 | Instruments | Received | Net Amount
As of September 30, 2015 |  |  |  |  |  |
Derivatives by Counterparty |  |  |  |  |  |
Counterparty A | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Counterparty B | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
As of December 31, 2014 |  |  |  |  |  |
Derivatives by Counterparty |  |  |  |  |  |
Counterparty A | $ | 61 |  | $ | — |  | $ | 61 |  | $ | (61 | ) | $ | — |  | $ | — |
Counterparty B | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 61 |  | $ | — |  | $ | 61 |  | $ | (61 | ) | $ | — |  | $ | — |
1 Amounts exclude accrued interest totaling zero and $1 thousand at September 30, 2015 and December 31, 2014, respectively.
Offsetting Liabilities |
Offsetting of Financial Liabilities and Derivative Liabilities
(in thousands) |  |  | Gross Amounts Not Offset in the Statements of Condition |
|  | Gross Amounts | Net Amounts of |  |  |
| Gross Amounts | Offset in the | Liabilities Presented |  |  |
| of Recognized | Statements of | in the Statements of | Financial | Cash Collateral |
| Liabilities 2 | Condition | Condition 2 | Instruments | Pledged | Net Amount
As of September 30, 2015 |  |  |  |  |  |
Derivatives by Counterparty |  |  |  |  |  |
Counterparty A | $ | 2,001 |  | $ | — |  | $ | 2,001 |  | $ | — |  | $ | (2,001 | ) | $ | — |
Counterparty B | 327 |  | — |  | 327 |  | — |  | (327 | ) | — |
Total | $ | 2,328 |  | $ | — |  | $ | 2,328 |  | $ | — |  | $ | (2,328 | ) | $ | — |
As of December 31, 2014 |  |  |  |  |  |
Derivatives by Counterparty |  |  |  |  |  |
Counterparty A | $ | 1,616 |  | $ | — |  | $ | 1,616 |  | $ | (61 | ) | $ | (1,360 | ) | $ | 195 |
Counterparty B | 380 |  | — |  | 380 |  | — |  | (380 | ) | — |
Total | $ | 1,996 |  | $ | — |  | $ | 1,996 |  | $ | (61 | ) | $ | (1,740 | ) | $ | 195 |
2 Amounts exclude accrued interest totaling $34 thousand and $40 thousand at September 30, 2015 and December 31, 2014, respectively.

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 derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details
Name: | us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration