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Derivative Financial Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2016
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, 2016 |  | December 31, 2015 |  | December 31, 2016 |  | December 31, 2015 |
Fair value hedges: |  |  |  |
Interest rate contracts notional amount | $ | 4,217 |  | $ | 4,407 |  | $ | 15,495 |  | $ | 22,187 |
Interest rate contracts fair value 1 | $ | 55 |  | $ | 3 |  | $ | 933 |  | $ | 1,658 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance |
| Years ended December 31,
(in thousands) | 2016 |  | 2015 |  | 2014 |
Increase (decrease) in value of designated interest rate swaps due to LIBOR interest rate movements recognized in interest income | $ | 778 |  | $ | 280 |  | $ | (377 | )
Payment on interest rate swaps recorded in interest income | (556 | ) | (918 | ) | (1,002 | )
(Decrease) increase in value of hedged loans recognized in interest income | (571 | ) | (308 | ) | 662 |
Decrease in value of yield maintenance agreement recognized against interest income | (94 | ) | (52 | ) | (91 | )
Net loss on derivatives recognized against interest income 2 | $ | (443 | ) | $ | (998 | ) | $ | (808 | )
1 See Note 9, Fair Value of Assets and Liabilities for valuation methodology. 2 Includes hedge ineffectiveness gain of $113 thousand, loss of $80 thousand and gain of $194 thousand for the years December 31, 2016, 2015 and 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 exactly offset the change in the fair value of the hedged items from period to period.
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) | Assets 1 | Condition | of Condition 1 | Instruments | Received | Net Amount
December 31, 2016 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 55 |  |  | $ | 55 |  | $ | (55 | ) |  | $ | — |
Total | $ | 55 |  | $ | — |  | $ | 55 |  | $ | (55 | ) | $ | — |  | $ | — |
December 31, 2015 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 3 |  | $ | — |  | $ | 3 |  | $ | (3 | ) | $ | — |  | $ | — |
Total | $ | 3 |  | $ | — |  | $ | 3 |  | $ | (3 | ) | $ | — |  | $ | — |
1 Amounts exclude accrued interest totaling $1 thousand at both December 31, 2016 and December 31, 2015, 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) | Liabilities 2 | Condition | Condition 2 | Instruments | Pledged | Net Amount
December 31, 2016 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 933 |  |  | $ | 933 |  | $ | (55 | ) | (878 | ) | $ | — |
Total | $ | 933 |  | $ | — |  | $ | 933 |  | $ | (55 | ) | $ | (878 | ) | $ | — |
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 | ) | $ | — |
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) | Liabilities 2 | Condition | Condition 2 | Instruments | Pledged | Net Amount
December 31, 2016 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 933 |  |  | $ | 933 |  | $ | (55 | ) | (878 | ) | $ | — |
Total | $ | 933 |  | $ | — |  | $ | 933 |  | $ | (55 | ) | $ | (878 | ) | $ | — |
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 | ) | $ | — |
2 Amounts exclude accrued interest totaling $12 thousand and $27 thousand at December 31, 2016 and December 31, 2015, respectively.

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