| Schedule of Interest Rate Contract Derivative Financial Instruments and Related Hedged Items |
The following tables set forth certain information concerning the Company’s interest rate contract derivative financial instruments and related hedged items at the dates indicated (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2016 | | | | Weighted Average Pay Rate | | Weighted Average Receive Rate | | Weighted Average Remaining Life in Years | | | | | | | | | | | | | Notional Amount | | Balance Sheet Location | | Fair Value | | Hedged Item | | | | | | | Asset | | Liability | Derivatives designated as cash flow hedges: | | | | | | | | | |
| | | | |
| | |
| Pay-fixed interest rate swaps | Variability of interest cash flows on variable rate borrowings | | 1.58% | | 3-Month Libor | | 3.6 | | $ | 1,665,000 |
| | Other Assets / Other liabilities | | $ | 313 |
| | $ | (24,650 | ) | Pay-fixed forward-starting interest rate swaps | Variability of interest cash flows on variable rate borrowings | | 3.43% | | 3-Month Libor | | 10.7 | | 300,000 |
| | Other liabilities | | — |
| | (54,373 | ) | Derivatives not designated as hedges: | | | | | | | | | | | | | | | | Pay-fixed interest rate swaps | | | 3.75% | | Indexed to 1-month Libor | | 7.0 | | 893,472 |
| | Other liabilities | | — |
| | (55,194 | ) | Pay-variable interest rate swaps | | | Indexed to 1-month Libor | | 3.75% | | 7.0 | | 893,472 |
| | Other assets | | 55,194 |
| | — |
| Interest rate caps purchased, indexed to 1-month Libor | | | | | 2.72% | | 2.1 | | 130,415 |
| | Other assets | | 50 |
| | — |
| Interest rate caps sold, indexed to 1-month Libor | | | 2.72% | | | | 2.1 | | 130,415 |
| | Other liabilities | | — |
| | (50 | ) | | | | | | | | | | $ | 4,012,774 |
| | | | $ | 55,557 |
| | $ | (134,267 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | December 31, 2015 | | | | Weighted Average Pay Rate | | Weighted Average Receive Rate | | Weighted Average Remaining Life in Years | | | | | | | | | | | | | Notional Amount | | Balance Sheet Location | | Fair Value | | Hedged Item | | | | | | | Asset | | Liability | Derivatives designated as cash flow hedges: | | | | | | | | | |
| | | | |
| | |
| Pay-fixed interest rate swaps | Variability of interest cash flows on variable rate borrowings | | 1.62% | | 3-Month Libor | | 2.6 | | $ | 1,805,000 |
| | Other assets / Other liabilities | | $ | 3,442 |
| | $ | (12,347 | ) | Pay-fixed forward-starting interest rate swaps | Variability of interest cash flows on variable rate borrowings | | 3.43% | | 3-Month Libor | | 11.5 | | 300,000 |
| | Other liabilities | | — |
| | (26,274 | ) | Derivatives not designated as hedges: | | |
| |
| |
| |
|
| | | |
|
| |
|
| Pay-fixed interest rate swaps | | | 4.08% | | Indexed to 1-month Libor | | 7.0 | | 663,311 |
| | Other assets / Other liabilities | | 225 |
| | (30,514 | ) | Pay-variable interest rate swaps | | | Indexed to 1-month Libor | | 4.08% | | 7.0 | | 663,311 |
| | Other assets / Other liabilities | | 30,514 |
| | (225 | ) | Interest rate caps purchased, indexed to 1-month Libor | | |
| | 2.85% | | 2.2 | | 139,786 |
| | Other assets | | 164 |
| | — |
| Interest rate caps sold, indexed to 1-month Libor | | | 2.85% | | | | 2.2 | | 139,786 |
| | Other liabilities | | — |
| | (164 | ) | | | | | | | | | | $ | 3,711,194 |
| | | | $ | 34,345 |
| | $ | (69,524 | ) |
|
| Schedule of Interest Rate Swaps Subject to Master Netting Agreements |
Information on interest rate swaps subject to these agreements is as follows at the dates indicated (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2016 | | |
| Gross Amounts Offset in Balance
Sheet |
| Net Amounts Presented in
Balance Sheet |
| Gross Amounts Not Offset in Balance Sheet |
| | | Gross Amounts Recognized |
|
|
| Derivative Instruments |
| Collateral Pledged |
| Net Amount |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative assets | $ | 363 |
| | $ | — |
| | $ | 363 |
| | $ | (363 | ) | | $ | — |
| | $ | — |
| Derivative liabilities | (134,217 | ) | | — |
| | (134,217 | ) | | 363 |
| | 133,854 |
| | — |
| | $ | (133,854 | ) | | $ | — |
| | $ | (133,854 | ) | | $ | — |
| | $ | 133,854 |
| | $ | — |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2015 | | | | Gross Amounts Offset in Balance
Sheet | | Net Amounts Presented in
Balance Sheet | | Gross Amounts Not Offset in Balance Sheet | | | | Gross Amounts Recognized | | | | Derivative Instruments | | Collateral Pledged | | Net Amount | | | | | | | | | | | | | Derivative assets | $ | 3,830 |
| | $ | — |
| | $ | 3,830 |
| | $ | (3,605 | ) | | $ | — |
| | $ | 225 |
| Derivative liabilities | (69,135 | ) | | — |
| | (69,135 | ) | | 3,605 |
| | 65,530 |
| | — |
| | $ | (65,305 | ) | | $ | — |
| | $ | (65,305 | ) | | $ | — |
| | $ | 65,530 |
| | $ | 225 |
|
|