Derivative Instruments and Balance Sheet Offsetting (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule reflecting the amount and fair value of risk management derivatives and mortgage banking and customer initiated derivatives

The following table presents the notional amount and fair value of the Corporation’s derivative instruments held or issued in connection with customer-initiated and mortgage banking activities. 

	September 30, 2016						December 31, 2015
			Fair Value						Fair Value
(Dollars in thousands)	Notional Amount (1)		Gross Derivative Assets (2)		Gross Derivative Liabilities (2)		Notional Amount (1)		Gross Derivative Assets (2)		Gross Derivative Liabilities (2)
Customer-initiated and mortgage banking derivatives:
Customer-initiated derivatives	$	559,458	$	12,250	$	12,787	$	—	$	—	$	—
Forward contracts related to mortgage loans to be delivered for sale	197,874		89		944		33,787		144		57
Interest rate lock commitments	157,743		2,674		56		23,421		42		90
Power Equity CD	36,372		2,183		2,183		33,703		1,832		1,832
Total gross derivatives	$	951,447	$	17,196	$	15,970	$	90,911	$	2,018	$	1,979

(1) Notional or contract amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement.  These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the Consolidated Statements of Financial Position.

(2) Derivative assets are included within “Other assets”  and derivative liabilities are included within “Other liabilities” on the Consolidated Statements of Financial Position.  Included in the fair value of the derivative assets are credit valuation adjustments for counterparty credit risk totaling $745 thousand at September 30, 2016 and $0 at December 31, 2015.

Schedule reflecting the net gains (losses) relating to derivative instruments related to the changes in fair value

The following table presents the net gains (losses) related to derivative instruments reflecting the changes in fair value.

		Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars in thousands)	Location of Gain (Loss)	2016			2015			2016			2015
Forward contracts related to mortgage loans to be delivered for sale	Mortgage banking revenue	$	(156	)	$	(384	)	$	(798	)	$	(24	)
Interest rate lock commitments	Mortgage banking revenue	(179		)	308			307			39
Power Equity CD	Other noninterest income	—			—			—			—
Customer-initiated derivatives	Other noninterest income	(60		)	—			(60		)	—
Total gain (loss) recognized in income		$	(395	)	$	(76	)	$	(551	)	$	15

Schedule of the Company's financial instruments eligible for offset, offsetting assets

The tables below present information about the Corporation’s financial instruments that are eligible for offset. There were no financial instruments eligible for offset as of December 31, 2015.

							Gross amounts not offset in the statements of financial position
(Dollars in thousands)	Gross amounts recognized		Gross amounts offset in the statements of financial condition		Net amounts presented in the statements of financial position		Financial instruments		Collateral (received)/posted		Net Amount
September 30, 2016
Offsetting derivative assets
Derivative assets	$	12,247	$	—	$	12,247	$	—	$	—	$	12,247
Offsetting derivative liabilities
Derivative liabilities	12,785		—		12,785		—		12,530		255

Schedule of the Company's financial instruments eligible for offset, offsetting liabilities

The tables below present information about the Corporation’s financial instruments that are eligible for offset. There were no financial instruments eligible for offset as of December 31, 2015.

							Gross amounts not offset in the statements of financial position
(Dollars in thousands)	Gross amounts recognized		Gross amounts offset in the statements of financial condition		Net amounts presented in the statements of financial position		Financial instruments		Collateral (received)/posted		Net Amount
September 30, 2016
Offsetting derivative assets
Derivative assets	$	12,247	$	—	$	12,247	$	—	$	—	$	12,247
Offsetting derivative liabilities
Derivative liabilities	12,785		—		12,785		—		12,530		255