Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Summary of Derivative Instruments [Abstract]

The impact of derivative instruments on the consolidated balance sheets at March 31, 2016 and December 31, 2015 is presented below.



	Fair Value of Derivative Assets				Fair Value of Derivative Liabilities
(in thousands)	Location on Consolidated Balance Sheet	March 31, 2016		December 31, 2015	Location on Consolidated Balance Sheet	March 31, 2016	December 31, 2015
Derivatives not designated as hedging instruments:
Interest rate contracts	Other assets	$	33,788	25,580	Other liabilities	34,232	26,030
Mortgage derivatives	Other assets	2,170		1,559	Other liabilities	762	—
Visa derivative		—		—	Other liabilities	1,415	1,415
Total derivatives not designated as hedging instruments		$	35,958	27,139		36,409	27,445

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, 2016 and 2015 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	2016			2015
Interest rate contracts⁽¹⁾	Other non-interest income	$	6		(179	)
Mortgage derivatives⁽²⁾	Mortgage banking income	(151		)	1,102
Total		$	(145	)	923

⁽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.