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Derivative Financial Instruments and Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the notional amount and fair value of our derivatives designated as hedging instruments:
| Derivative Assets |  | Derivative Liabilities
(in thousands) | September 30, 2018 | December 31, 2017 |  | September 30, 2018 | December 31, 2017
Fair value hedges: |  |  |  |  |
Interest rate contracts notional amount | $ | 8,988 |  | $ | 4,019 |  |  | $ | 9,156 |  | $ | 14,810 |
Interest rate contracts fair value1 | $ | 436 |  | $ | 74 |  |  | $ | 163 |  | $ | 740 |
1 See Note 3, Fair Value of Assets and Liabilities, for valuation methodology. The following table presents the carrying amount and associated cumulative basis adjustment related to the application of fair value hedge accounting that is included in the carrying amount of hedged assets as of September 30, 2018:
(in thousands) | Carrying Amounts of Hedged Assets |  | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Loans |
Loans | $ | 17,651 |  | $ | (493 | )
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The following table presents the net gains (losses) recognized in interest income on loans on the consolidated statements of comprehensive income related to our derivatives designated as fair value hedges:
|  | Three months ended
(in thousands) |  | September 30, 2018 | September 30, 2017
Increase in value of designated interest rate swaps |  | $ | 222 |  | $ | 25 |
Payment on interest rate swaps |  | $ | (32 | ) | $ | (76 | )
Decrease in value of hedged loans |  | $ | (231 | ) | $ | (43 | )
Decrease in value of yield maintenance agreement |  | $ | (4 | ) | $ | (4 | )
Net loss on fair value hedging relationships recognized in interest income |  | $ | (45 | ) | $ | (98 | )
|  |  |  | Nine months ended
(in thousands) |  | September 30, 2018 | September 30, 2017
Increase in value of designated interest rate swaps |  | $ | 939 |  | $ | 7 |
Payment on interest rate swaps |  | $ | (127 | ) | $ | (261 | )
(Decrease) increase in value of hedged loans |  | $ | (924 | ) | $ | 35 |
Decrease in value of yield maintenance agreement |  | $ | (11 | ) | $ | (11 | )
Net loss on fair value hedging relationships recognized against interest income |  | $ | (123 | ) | $ | (230 | )
Offsetting Assets | The following table shows information on financial instruments that are eligible for offset in the consolidated statements of condition.
Offsetting of Financial Assets and Derivative Assets
|  | Gross Amounts | Net Amounts of | Gross Amounts Not Offset in |
| Gross Amounts | Offset in the | Assets Presented | the Statements of Condition |
| of Recognized | Statements of | in the Statements | Financial | Cash Collateral |
(in thousands) | Assets1 | Condition | of Condition1 | Instruments | Received | Net Amount
September 30, 2018 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 436 |  | $ | — |  | $ | 436 |  | $ | (163 | ) | $ | — |  | $ | 273 |
December 31, 2017 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 74 |  | $ | — |  | $ | 74 |  | $ | (74 | ) | $ | — |  | $ | — |
1 Amounts exclude accrued interest totaling less than $1 thousand at both September 30, 2018 and December 31, 2017.
Offsetting of Financial Liabilities and Derivative Liabilities
|  | Gross Amounts | Net Amounts of | Gross Amounts Not Offset in |
| Gross Amounts | Offset in the | Liabilities Presented | the Statements of Condition |
| of Recognized | Statements of | in the Statements | Financial | Cash Collateral |
(in thousands) | Liabilities2 | Condition | of Condition2 | Instruments | Pledged | Net Amount
September 30, 2018 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 163 |  | $ | — |  | $ | 163 |  | $ | (163 | ) |  |  | $ | — |
December 31, 2017 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 740 |  | $ | — |  | $ | 740 |  | $ | (74 | ) | $ | (666 | ) | $ | — |
Offsetting Liabilities |
Offsetting of Financial Liabilities and Derivative Liabilities
|  | Gross Amounts | Net Amounts of | Gross Amounts Not Offset in |
| Gross Amounts | Offset in the | Liabilities Presented | the Statements of Condition |
| of Recognized | Statements of | in the Statements | Financial | Cash Collateral |
(in thousands) | Liabilities2 | Condition | of Condition2 | Instruments | Pledged | Net Amount
September 30, 2018 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 163 |  | $ | — |  | $ | 163 |  | $ | (163 | ) |  |  | $ | — |
December 31, 2017 |  |  |  |  |  |
Derivatives by Counterparty: |  |  |  |  |  |
Counterparty A | $ | 740 |  | $ | — |  | $ | 740 |  | $ | (74 | ) | $ | (666 | ) | $ | — |
2 Amounts exclude accrued interest totaling $3 thousand and $8 thousand at September 30, 2018 and December 31, 2017, respectively.

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