Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position

The fair value of derivative contracts, after taking into account the effects of master netting agreements, is included in other assets or other liabilities on the Consolidated Balance Sheets, as indicated in the following table:

	June 30, 2020						December 31, 2019						June 30, 2019
			Fair Value						Fair Value						Fair Value
	Notional Amount		Derivative Assets		Derivative Liabilities		Notional Amount		Derivative Assets		Derivative Liabilities		Notional Amount		Derivative Assets		Derivative Liabilities
	(in thousands)
Derivatives designated as hedging instruments:
Fair value hedges
Interest rate swaps	$	856,948	$	5,966	$	101,315	$	862,952	$	1,778	$	55,471	$	958,298	$	1,436	$	62,754
Total	856,948		5,966		101,315		862,952		1,778		55,471		958,298		1,436		62,754
Netting adjustments (1)	—		—		—		—		21		21		—		163		163
Net derivatives in the balance sheet	$	856,948	$	5,966	$	101,315	$	862,952	$	1,757	$	55,450	$	958,298	$	1,273	$	62,591
Derivatives not designated as hedging instruments:
Foreign currency contracts	$	24,949	$	293	$	262	$	6,711	$	44	$	18	$	25,151	$	263	$	147
Interest rate swaps	2,932		249		249		2,932		81		81		2,348		83		83
Total	$	27,881	$	542	$	511	$	9,643	$	125	$	99	$	27,499	$	346	$	230

(1)

Netting adjustments represent the amounts recorded to convert the Company's derivative balances from a gross basis to a net basis in accordance with the applicable accounting guidance.

Largest Exposure To Individual Counterparty

The following table summarizes the Company's largest exposure to an individual counterparty at the dates indicated:

	June 30, 2020		December 31, 2019		June 30, 2019
	(in thousands)
Largest gross exposure (derivative asset) to an individual counterparty	$	3,874	$	1,757	$	1,273
Collateral posted by this counterparty	—		1,610		1,100
Derivative liability with this counterparty	—		—		—
Collateral pledged to this counterparty	—		—		—
Net exposure after netting adjustments and collateral	$	3,874	$	147	$	173