Derivative Instruments (Tables)
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3 Months Ended |
Mar. 31, 2018 |
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| Derivative Instrument Detail [Abstract] |
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| Schedule Of Notional Amounts Of Derivative Instruments |
| | | | | | | |
(In thousands) | March 31, 2018 | December 31, 2017 | Interest rate swaps | $ | 1,787,029 |
| $ | 1,741,412 |
| Interest rate caps | 31,630 |
| 31,776 |
| Credit risk participation agreements | 153,219 |
| 133,488 |
| Foreign exchange contracts | 10,907 |
| 11,826 |
| Mortgage loan commitments | 16,297 |
| 17,110 |
| Mortgage loan forward sale contracts | 688 |
| 2,566 |
| Forward TBA contracts | 16,500 |
| 25,000 |
| Total notional amount | $ | 2,016,270 |
| $ | 1,963,178 |
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| Schedule Of Fair Values Of Derivative Instruments |
The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Information about the valuation methods used to determine fair value is provided in Note 15 on Fair Value Measurements in the 2017 Annual Report on Form 10-K.
The Company's policy is to present its derivative assets and derivative liabilities on a gross basis in its consolidated balance sheets, and these are reported in other assets and other liabilities. However, in January 2017, a clearinghouse rule change required that variation margin on centrally cleared derivatives, formerly treated as collateral, be treated as settlements of derivative exposure. As a result, the fair values of the respective derivative contracts must be reduced by variation margin payments and reported as a single, net amount. Accordingly, at March 31, 2018 in the table below, the positive fair values of cleared swaps were reduced by $12.2 million and the negative fair values of cleared swaps were reduced by $484 thousand. At December 31, 2017, the positive fair values of cleared swaps were reduced by $4.5 million and the negative fair values of cleared swaps were reduced by $4.3 million. | | | | | | | | | | | | | | | | Asset Derivatives | | Liability Derivatives | | Mar. 31, 2018 | Dec. 31, 2017 | | Mar. 31, 2018 | Dec. 31, 2017 | (In thousands) | Fair Value | | Fair Value | Derivative instruments: | | | | | | Interest rate swaps | $ | 4,403 |
| $ | 7,674 |
| | $ | (16,120 | ) | $ | (7,857 | ) | Interest rate caps | 26 |
| 16 |
| | (26 | ) | (16 | ) | Credit risk participation agreements | 29 |
| 46 |
| | (91 | ) | (123 | ) | Foreign exchange contracts | 51 |
| 21 |
| | (61 | ) | (40 | ) | Mortgage loan commitments | 582 |
| 580 |
| | — |
| — |
| Mortgage loan forward sale contracts | 1 |
| 8 |
| | — |
| (7 | ) | Forward TBA contracts | — |
| 4 |
| | (75 | ) | (31 | ) | Total | $ | 5,092 |
| $ | 8,349 |
| | $ | (16,373 | ) | $ | (8,074 | ) |
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| Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income |
The effects of derivative instruments on the consolidated statements of income are shown in the table below. | | | | | | | | | |
| Location of Gain or (Loss) Recognized in Income on Derivatives | Amount of Gain or (Loss) Recognized in Income on Derivatives |
| | | For the Three Months Ended March 31 | (In thousands) | | | 2018 | 2017 | Derivative instruments: | | | | | Interest rate swaps | Other non-interest income | | $ | 505 |
| $ | 143 |
| Credit risk participation agreements | Other non-interest income | | 164 |
| 10 |
| Foreign exchange contracts | Other non-interest income | | 9 |
| (20 | ) | Mortgage loan commitments | Loan fees and sales | | 1 |
| 554 |
| Mortgage loan forward sale contracts | Loan fees and sales | | — |
| 66 |
| Forward TBA contracts | Loan fees and sales | | 542 |
| (98 | ) | Total | | | $ | 1,221 |
| $ | 655 |
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| Balance Sheet Offsetting, Derivatives [Table Text Block] |
| | | | | | | | | | | | | | | | | | | | | | | | Gross Amounts Not Offset in the Balance Sheet | | (In thousands) | Gross Amount Recognized | Gross Amounts Offset in the Balance Sheet | Net Amounts Presented in the Balance Sheet | Financial Instruments Available for Offset | Collateral Received/Pledged | Net Amount | March 31, 2018 | | | | | | | Assets: | | | | | | | Derivatives subject to master netting agreements | $ | 4,471 |
| $ | — |
| $ | 4,471 |
| $ | (451 | ) | $ | (1,505 | ) | $ | 2,515 |
| Derivatives not subject to master netting agreements | 621 |
| — |
| 621 |
| | | | Total derivatives | 5,092 |
| — |
| 5,092 |
| | | | Liabilities: | | | | | | | Derivatives subject to master netting agreements | $ | 16,237 |
| $ | — |
| $ | 16,237 |
| $ | (451 | ) | $ | (1,188 | ) | $ | 14,598 |
| Derivatives not subject to master netting agreements | 136 |
| — |
| 136 |
| | | | Total derivatives | 16,373 |
| — |
| 16,373 |
| | | | December 31, 2017 | | | | | | | Assets: | | | | | | | Derivatives subject to master netting agreements | $ | 7,726 |
| $ | — |
| $ | 7,726 |
| $ | (233 | ) | $ | (824 | ) | $ | 6,669 |
| Derivatives not subject to master netting agreements | 623 |
| — |
| 623 |
| | | | Total derivatives | 8,349 |
| — |
| 8,349 |
| | | | Liabilities: | | | | | | | Derivatives subject to master netting agreements | $ | 7,935 |
| $ | — |
| $ | 7,935 |
| $ | (233 | ) | $ | (1,570 | ) | $ | 6,132 |
| Derivatives not subject to master netting agreements | 139 |
| — |
| 139 |
| | | | Total derivatives | 8,074 |
| — |
| 8,074 |
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