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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2013
Summary of Derivative Instruments [Abstract]  
Impact of Derivatives on Balance Sheet
The impact of derivative instruments on the consolidated balance sheets at December 31, 2013 and 2012 is presented below.
 
Fair Value of Derivative Assets
 
Fair Value of Derivative Liabilities
 
 
 
December 31,
 
 
 
December 31,

(in thousands)
Location on Consolidated Balance Sheet
 
2013
 
2012
 
Location on Consolidated Balance Sheet
 
2013
 
2012
Derivatives not designated
  as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
Other assets
 
$
38,482

 
61,869

 
Other liabilities
 
39,436

 
62,912

Mortgage derivatives
Other assets
 
1,522

 
2,793

 
Other liabilities
 
—

 
525

Visa Derivative
 
 
—

 
—

 
Other liabilities
 
2,706

 
2,956

Total derivatives not designated as hedging instruments
 
 
$
40,004

 
64,662

 
 
 
42,142

 
66,393

 
 
 
 
 
 
 
 
 
 
 
 
Effect of Cash Flow Hedges on Consolidated Statements of Income

See "Part II - Item 8. Financial Statements and Supplementary Data - Consolidated Statements of Comprehensive Income (Loss)" for the effect of the amortization of previously terminated cash flow hedges on the consolidated statements of income for the years ended December 31, 2013, 2012 and 2011.
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 years ended December 31, 2013, 2012 and 2011 is presented below.
 
Derivative
 
Location of Gain (Loss) Recognized in Income
 
Gain (Loss) Recognized in Income
 
 
Twelve Months Ended December 31,
(in thousands)
 
2013
 
2012
 
2011
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
Interest rate contracts(1)    
Other Non-
 Interest Income
 
$
89

 
1,419

 
(819
)
Mortgage derivatives(2)    
Mortgage
Banking Income
 
$
(745
)
 
2,364

 
393

Total
 
 
$
(656
)
 
3,783

 
(426
)
 
 
 
 
 
 
 
 

(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.