Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Financial Instruments

The tables below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition at June 30, 2019 and December 31, 2018 (in thousands):

	At June 30, 2018
	Asset Derivatives			Liability Derivatives
	Consolidated Statements of Financial Condition	Fair Value		Consolidated Statements of Financial Condition	Fair Value
Derivatives not designated as a hedging instrument:
Interest rate products	Other assets	$	33,252	Other liabilities	36,104
Credit contracts	Other assets	410		Other liabilities	—
Total derivatives not designated as a hedging instrument		$	33,662		36,104
Derivatives designated as a hedging instrument:
Interest rate products	Other assets	$	(78)	Other liabilities	—
Total derivatives designated as a hedging instrument		$	(78)		—

	At December 31, 2018
	Asset Derivatives			Liability Derivatives
	Consolidated Statements of Financial Condition	Fair Value		Consolidated Statements of Financial Condition	Fair Value
Derivatives not designated as a hedging instrument:
Interest rate products	Other assets	$	14,154	Other liabilities	14,766
Credit contracts	Other assets	251		Other liabilities	—
Total derivatives not designated as a hedging instrument		$	14,405		14,766
Derivatives designated as a hedging instrument:
Interest rate products	Other assets	$	1,229	Other liabilities	—
Total derivatives designated as a hedging instrument		$	1,229		—

Effect of the derivative financial instruments on the Income Statement

The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income during the three and six months ended June 30, 2019 and 2018 (in thousands).

		Gain (loss) recognized in income on derivatives for the three months ended
	Consolidated Statements of Income	June 30, 2019		June 30, 2018
Derivatives not designated as a hedging instrument:
Interest rate products	Other income	$	1,422	(64)
Credit contracts	Other income	19		81
Total		$	1,441	17
Derivatives designated as a hedging instrument:
Interest rate products	Interest expense	$	147	74
Total		$	147	74

		Gain (loss) recognized in income on derivatives for the six months ended
	Consolidated Statements of Income	June 30, 2019		June 30, 2018
Derivatives not designated as a hedging instrument:
Interest rate products	Other income	$	(2,096)	238
Credit contracts	Other income	15		81
Total		$	(2,081)	319
Derivatives designated as a hedging instrument:
Interest rate products	Interest expense	$	309	80
Total		$	309	80