Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Summary of Derivative Instruments [Abstract]

The impact of derivative instruments on the Consolidated Balance Sheets at March 31, 2017 and December 31, 2016 is presented below.



	Fair Value of Derivative Assets				Fair Value of Derivative Liabilities
(in thousands)	Location on Consolidated Balance Sheets	March 31, 2017		December 31, 2016	Location on Consolidated Balance Sheets	March 31, 2017	December 31, 2016
Derivatives not designated as hedging instruments:
Interest rate contracts	Other assets	$	15,548	17,157	Other liabilities	15,923	17,531
Mortgage derivatives	Other assets	2,243		3,466	Other liabilities	561	—
Visa derivative		—		—	Other liabilities	5,412	5,768
Total derivatives not designated as hedging instruments		$	17,791	20,623		21,896	23,299

Effect of Fair Value Hedges on Consolidated Statements of Income

The pre-tax effect of fair value hedges on the Consolidated Statements of Income for the three months ended March 31, 2017 and 2016 is presented below.



		Gain (Loss) Recognized in Income
(in thousands)		Three Months Ended March 31,
Derivatives not designated as hedging instruments	Location of Gain (Loss) Recognized in Income	2017			2016
Interest rate contracts⁽¹⁾	Other non-interest income	$	(1	)	6
Mortgage derivatives⁽²⁾	Mortgage banking income	(1,784		)	(151	)
Total		$	(1,785	)	(145	)

⁽¹⁾ Gain (loss) represents net fair value adjustments (including credit related adjustments) for customer swaps and offsetting positions.

⁽²⁾ Gain (loss) represents net fair value adjustments recorded for interest rate lock commitments and commitments to sell mortgage loans to third-party investors.