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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts and Estimated Fair Values The notional amounts and estimated fair values as of December 31, 2018 and 2017 were as follows:

 

 

 

December 31, 2018

 

 

December 31, 2017

 

 

 

 

 

 

 

Fair Value

 

 

 

 

 

 

Fair Value

 

(In thousands)

 

Notional Amount

 

 

Other Assets

 

 

Other Liabilities

 

 

Notional Amount

 

 

Other Assets

 

 

Other Liabilities

 

Derivatives designated as hedging instruments (cash flow hedges):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial loan interest rate swaps

 

$

650,000

 

 

$

—

 

 

$

23,968

 

 

$

1,032,000

 

 

$

—

 

 

$

21,394

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial loan interest rate swaps

 

 

1,155,942

 

 

 

4,439

 

 

 

1,777

 

 

 

737,533

 

 

 

2,056

 

 

 

2,056

 

Commercial loan interest rate caps

 

 

88,430

 

 

 

239

 

 

 

239

 

 

 

186,290

 

 

 

153

 

 

 

153

 

Commercial loan interest rate floors

 

 

652,822

 

 

 

5,587

 

 

 

5,587

 

 

 

330,764

 

 

 

1,054

 

 

 

1,054

 

Commercial loan interest rate collars

 

 

80,000

 

 

 

96

 

 

 

96

 

 

 

—

 

 

 

—

 

 

 

—

 

Mortgage loan held for sale interest rate lock commitments

 

 

5,286

 

 

 

72

 

 

 

—

 

 

 

6,119

 

 

 

50

 

 

 

—

 

Mortgage loan forward sale commitments

 

 

1,959

 

 

 

5

 

 

 

—

 

 

 

4,565

 

 

 

10

 

 

 

—

 

Mortgage loan held for sale floating commitments

 

 

14,690

 

 

 

—

 

 

 

—

 

 

 

11,800

 

 

 

—

 

 

 

—

 

Foreign exchange contracts

 

 

46,971

 

 

 

698

 

 

 

683

 

 

 

41,688

 

 

 

635

 

 

 

623

 

Total derivatives not designated as hedging instruments

 

 

2,046,100

 

 

 

11,136

 

 

 

8,382

 

 

 

1,318,759

 

 

 

3,958

 

 

 

3,886

 

Total derivatives

 

$

2,696,100

 

 

$

11,136

 

 

$

32,350

 

 

$

2,350,759

 

 

$

3,958

 

 

$

25,280

 

 
Schedule of Gain (Loss) in Consolidated Statements of Income Related to Derivative Instruments

Pre-tax gain (loss) included in the consolidated statements of income related to derivative instruments for each of the three years ended December 31,:

 

 

 

For the Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

(In thousands)

 

OCI

 

 

Reclassified

from AOCI to

interest income

 

 

Noninterest

income

 

 

OCI

 

 

Reclassified

from AOCI to

interest income

 

 

Noninterest

income

 

 

OCI

 

 

Reclassified

from AOCI to

interest income

 

 

Noninterest

income

 

Derivatives designated as hedging instruments

   (cash flow hedges):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial loan interest rate swaps

 

$

(7,711

)

 

$

(5,164

)

 

$

—

 

 

$

(1,426

)

 

$

3,705

 

 

$

—

 

 

$

(7,444

)

 

$

11,255

 

 

$

166

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage loans held for sale interest rate lock

commitments

 

$

—

 

 

$

—

 

 

$

22

 

 

$

—

 

 

$

—

 

 

$

(39

)

 

$

—

 

 

$

—

 

 

$

24

 

Foreign exchange contracts

 

 

—

 

 

 

—

 

 

 

2,222

 

 

 

—

 

 

 

—

 

 

 

2,271

 

 

 

—

 

 

 

—

 

 

 

1,264

 

 
Schedule of Interest Rate Swap Agreements In June 2015 and March 2016, the Company entered into the following interest rate swap agreements to manage overall cash flow changes related to interest rate risk exposure on benchmark interest rate loans.  

 

Effective Date

 

Maturity Date

 

Notional Amount

(In Thousands)

 

 

Fixed Rate

 

 

Variable Rate

June 30, 2015

 

December 31, 2019

 

$

300,000

 

 

 

1.5120

%

 

1 Month LIBOR

March 8, 2016

 

February 27, 2026

 

 

175,000

 

 

 

1.5995

 

 

1 Month LIBOR

March 8, 2016

 

February 27, 2026

 

 

175,000

 

 

 

1.5890

 

 

1 Month LIBOR