| 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.
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| 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 |
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