Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 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)	December 31, 2015		December 31, 2014		December 31, 2015		December 31, 2014
Fair value hedges:
Interest rate contracts notional amount	$	4,407	$	4,589	$	22,187	$	26,899
Interest rate contracts fair value¹	$	3	$	61	$	1,658	$	1,996

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance



	Years ended December 31,
(in thousands)	2015			2014			2013
Increase (decrease) in value of designated interest rate swaps recognized in interest income	$	280		$	(377	)	$	3,680
Payment on interest rate swaps recorded in interest income	(918		)	(1,002		)	(1,422		)
Decrease (increase) in value of hedged loans recognized in interest income	(308		)	662			(3,971		)
Decrease in value of yield maintenance agreement recognized against interest income	(52		)	(91		)	(71		)
Net loss on derivatives recognized against interest income ²	$	(998	)	$	(808	)	$	(1,784	)

¹See Note 10 for valuation methodology.

² Includes hedge ineffectiveness loss of $80 thousand, gain of $194 thousand and loss of $362 thousand for the years December 31, 2015, 2014 and 2013, respectively. Changes in value of swaps were included in the assessment of hedge effectiveness.

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
							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
(in thousands)	Assets¹		Condition		of Condition¹		Instruments			Received		Net Amount
As of December 31, 2015
Derivatives by Counterparty
Counterparty A	$	3	$	—	$	3	$	(3	)	$	—	$	—
Counterparty B	—		—		—		—			—		—
Total	$	3	$	—	$	3	$	(3	)	$	—	$	—

As of December 31, 2014
Derivatives by Counterparty
Counterparty A	$	61	$	—	$	61	$	(61	)	$	—	$	—
Counterparty B	—		—		—		—			—		—
Total	$	61	$	—	$	61	$	(61	)	$	—	$	—

¹Amounts exclude accrued interest totaling $1 thousand at both December 31, 2015 and December 31, 2014, respectively.



Offsetting of Financial Liabilities and Derivative Liabilities
							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
(in thousands)	Liabilities²		Condition		Condition²		Instruments			Pledged			Net Amount
As of December 31, 2015
Derivatives by Counterparty
Counterparty A	$	1,390	$	—	$	1,390	$	(3	)	(1,387		)	$	—
Counterparty B	268		—		268		—			(268		)	—
Total	$	1,658	$	—	$	1,658	$	(3	)	$	(1,655	)	$	—

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

Offsetting Liabilities



Offsetting of Financial Liabilities and Derivative Liabilities
							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
(in thousands)	Liabilities²		Condition		Condition²		Instruments			Pledged			Net Amount
As of December 31, 2015
Derivatives by Counterparty
Counterparty A	$	1,390	$	—	$	1,390	$	(3	)	(1,387		)	$	—
Counterparty B	268		—		268		—			(268		)	—
Total	$	1,658	$	—	$	1,658	$	(3	)	$	(1,655	)	$	—

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

²Amounts exclude accrued interest totaling $27 thousand and $39 thousand at December 31, 2015 and December 31, 2014, respectively.