XML 48 R37.htm IDEA: XBRL DOCUMENT v3.19.1
Derivatives (Tables)
 3 Months Ended
Mar. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts and Estimated Fair Values The notional amounts and estimated fair values as of March 31, 2019 and December 31, 2018 were as follows:

 

 

March 31, 2019

 

 

December 31, 2018

 

 

 

 

 

 

 

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

 

 

$

—

 

 

$

15,814

 

 

$

650,000

 

 

$

—

 

 

$

23,968

 

Commercial loan interest rate collars

 

 

4,000,000

 

 

 

169,277

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total derivatives designated as hedging instruments

 

 

4,650,000

 

 

 

169,277

 

 

 

15,814

 

 

 

650,000

 

 

 

—

 

 

 

23,968

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial loan interest rate swaps

 

 

1,127,780

 

 

 

5,672

 

 

 

1,078

 

 

 

1,155,942

 

 

 

4,439

 

 

 

1,777

 

Commercial loan interest rate caps

 

 

112,194

 

 

 

176

 

 

 

176

 

 

 

88,430

 

 

 

239

 

 

 

239

 

Commercial loan interest rate floors

 

 

673,340

 

 

 

6,503

 

 

 

6,503

 

 

 

652,822

 

 

 

5,587

 

 

 

5,587

 

Commercial loan interest rate collars

 

 

80,000

 

 

 

128

 

 

 

128

 

 

 

80,000

 

 

 

96

 

 

 

96

 

Mortgage loan held for sale interest rate lock commitments

 

 

10,320

 

 

 

145

 

 

 

—

 

 

 

5,286

 

 

 

72

 

 

 

—

 

Mortgage loan forward sale commitments

 

 

4,069

 

 

 

14

 

 

 

—

 

 

 

1,959

 

 

 

5

 

 

 

—

 

Mortgage loan held for sale floating commitments

 

 

2,518

 

 

 

—

 

 

 

—

 

 

 

14,690

 

 

 

—

 

 

 

—

 

Foreign exchange contracts

 

 

50,552

 

 

 

372

 

 

 

347

 

 

 

46,971

 

 

 

698

 

 

 

683

 

Total derivatives not designated as hedging instruments

 

 

2,060,773

 

 

 

13,010

 

 

 

8,232

 

 

 

2,046,100

 

 

 

11,136

 

 

 

8,382

 

Total derivatives

 

$

6,710,773

 

 

$

182,287

 

 

$

24,046

 

 

$

2,696,100

 

 

$

11,136

 

 

$

32,350

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
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 the three months ended March 31, 2019 and 2018 were as follows:

 

 

 

For the Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

(In thousands)

 

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

 

$

6,646

 

 

$

(1,508

)

 

$

—

 

 

$

(11,278

)

 

$

(333

)

 

$

—

 

Commercial loan interest rate collars

 

 

41,477

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage loans held for sale interest rate lock commitments

 

 

—

 

 

 

—

 

 

 

69

 

 

 

—

 

 

 

—

 

 

 

61

 

Foreign exchange contracts

 

 

—

 

 

 

—

 

 

 

1,140

 

 

 

—

 

 

 

—

 

 

 

508

 

 
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