XML 60 R47.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2013
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Notional Amounts and Fair Values of Derivatives Not Designated as Hedging Instruments

The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the consolidated balance sheets at December 31, 2013 and 2012:

 

                                                                          
            Derivative Assets      Derivative Liabilities  
(Dollars in thousands)    Notional
Amount
     Balance Sheet
Classification
     Fair
Value
     Balance Sheet
Classification
     Fair
Value
 

At December 31, 2013

              

Interest rate locks with customers

   $ 15,176         Other Assets       $ 321         —         $   —     

Forward loan sale commitments

     17,425         Other Assets         25         —           —     
  

 

 

       

 

 

       

 

 

 

Total

   $ 32,601          $ 346          $ —     
  

 

 

       

 

 

       

 

 

 

At December 31, 2012

              

Interest rate locks with customers

   $ 51,768         Other Assets       $ 1,547         —         $ —     

Forward loan sale commitments

     56,263         —           —           Other Liabilities         54   
  

 

 

       

 

 

       

 

 

 

Total

   $ 108,031          $ 1,547          $ 54   
Notional Amounts and Fair Values of Derivatives Designated as Hedging Instruments

The following table presents the notional amounts and fair values of derivatives designated as hedging instruments recorded on the consolidated balance sheets at December 31, 2013 and 2012:

   

            Derivative Assets      Derivative Liabilities  
(Dollars in thousands)    Notional
Amount
     Balance Sheet
Classification
     Fair
Value
     Balance Sheet
Classification
     Fair
Value
 

At December 31, 2013

              

Interest rate swap – cash flow hedge

   $ —           —         $ —           —         $ —     
  

 

 

       

 

 

       

 

 

 

Total

   $ —            $ —            $ —     
  

 

 

       

 

 

       

 

 

 

At December 31, 2012

              

Interest rate swap – cash flow hedge

   $   20,000         —         $ —           Other Liabilities       $ 1,909   
  

 

 

       

 

 

       

 

 

 

Total

   $ 20,000          $ —            $ 1,909   
  

 

 

       

 

 

       

 

 

Income for Derivatives Not Designated as Hedging Instruments

The following table presents amounts included in the consolidated statements of income for derivatives not designated as hedging instruments for the periods indicated:

 

        For the Years Ended December 31,  
(Dollars in thousands)  

Statement of Income Classification

  2013     2012     2011  

Interest rate locks with customers

  Net (loss) gain on mortgage banking activities   $ (1,226   $ 467      $ 549   

Forward loan sale commitments

  Net gain (loss) on mortgage banking activities     79        248        (572
   

 

 

   

 

 

   

 

 

 

Total

    $ (1,147   $ 715      $ (23
   

 

 

   

 

 

   

 

 

Income for Derivatives Designated as Hedging Instruments

The following table presents amounts included in the consolidated statements of income for derivatives designated as hedging instruments for the periods indicated:

 

    Statement of Income   For the Years Ended December 31,  
(Dollars in thousands)  

Classification

  2013     2012     2011  

Interest rate swap – cash flow hedge – loss on termination

  Net loss on termination of interest rate swap   $ (1,866   $ —        $ —     

Interest rate swap – cash flow hedge – interest payments

  Interest expense     124        448        475   

Interest rate swap – cash flow hedge – ineffectiveness

  Interest expense     —          —          —     
   

 

 

   

 

 

   

 

 

 

Net loss

    $ (1,990   $ (448   $ (475
   

 

 

   

 

 

   

 

 

Amounts Included in Accumulated Other Comprehensive (Loss) Income for Derivatives Designated as Hedging Instruments

The following table presents amounts included in accumulated other comprehensive (loss) income for derivatives designated as hedging instruments for the periods indicated:

 

    Accumulated Other   For the Years Ended December 31,  
(Dollars in thousands)  

Comprehensive (Loss) Income

  2013     2012     2011  

Interest rate swap – cash flow hedge

  Fair value, net of taxes   $ —        $ (1,241   $ (932
   

 

 

   

 

 

   

 

 

 

Total

    $ —        $ (1,241   $ (932