XML 33 R28.htm IDEA: XBRL DOCUMENT v3.3.0.814
Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2015
Summary of Derivative Instruments [Abstract]  
Impact of Derivatives on Balance Sheet
The impact of derivative instruments on the consolidated balance sheets at September 30, 2015 and December 31, 2014 is presented below.
 
Fair Value of Derivative Assets
 
Fair Value of Derivative Liabilities

(in thousands)
Location on Consolidated Balance Sheet
 
September 30, 2015
 
December 31, 2014
 
Location on Consolidated Balance Sheet
 
September 30, 2015
 
December 31, 2014
Derivatives not designated
  as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
Other assets
 
32,710

 
30,904

 
Other liabilities
 
33,158

 
31,398

Mortgage derivatives
Other assets
 
1,845

 
1,213

 
Other liabilities
 
1,110

 
753

Visa derivative
 
 
—

 
—

 
Other liabilities
 
1,415

 
1,401

 Total derivatives not
  designated as hedging
  instruments    
 
 
$
34,555

 
32,117

 
 
 
$
35,683

 
33,552

 
 
 
 
 
 
 
 
 
 
 
 
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 nine and three months ended September 30, 2015 and 2014 is presented below.
 
Location of Gain (Loss) Recognized in Income
 
Gain (Loss) Recognized in Income
(in thousands)
 
Nine Months Ended September 30,
Derivatives not designated as hedging instruments
 
2015
 
2014
Interest rate contracts(1)    
Other non-interest income
 
10

 
449

Mortgage derivatives(2)    
Mortgage banking income
 
276

 
(704
)
Total
 
 
$
286

 
(255
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Location of Gain (Loss) Recognized in Income
 
Gain (Loss) Recognized in Income
(in thousands)
 
Three Months Ended September 30,
Derivatives not designated as hedging instruments
 
2015
 
2014
Interest rate contracts(1)    
Other non-interest income
 
170

 
65

Mortgage derivatives(2)    
Mortgage banking income
 
(1,955
)
 
51

Total
 
 
$
(1,785
)
 
116

 
 
 
 
 
 
(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.