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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2016
Derivative Financial Instruments  
Summary of notional amounts and fair values of derivatives held

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2016

 

December 31, 2015

 

 

 

 

 

 

Fair Value

 

 

 

 

Fair Value

 

 

 

Notional

 

Asset

 

Liability

 

Notional

 

Asset

 

Liability

 

(dollars in thousands)

    

Amount

    

Derivatives (1)

    

Derivatives (2)

    

Amount

    

Derivatives (1)

    

Derivatives (2)

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

$
202,394

 

$

 —

 

$
(9,119)

 

$
232,867

 

$

 —

 

$
(8,996)

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

 
1,062,236

 

 
32,350

 

 
(35,584)

 

 
682,621

 

 
10,909

 

 
(14,126)

 

Funding swap

 

 
35,784

 

 

 —

 

 
(7,926)

 

 

 —

 

 

 —

 

 

 —

 

Foreign exchange contracts

 

 
3,566

 

 
43

 

 

 —

 

 
4,821

 

 
93

 

 

 —

 

(1)   The positive fair value of derivative assets are included in other assets.

(2)   The negative fair value of derivative liabilities are included in other liabilities.

 

Schedule of gains and losses recognized in income related to derivatives in fair value hedging relationships

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

(dollars in thousands)

    

2016

    

2015

    

2016

    

2015

 

Losses recorded in net interest income

 

$
(279)

 

$
(547)

 

$
(973)

 

$
(2,011)

 

(Losses) gains recorded in noninterest income:

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognized on derivatives

 

 
479

 

 
(977)

 

 
(1,039)

 

 
1,015

 

Recognized on hedged item

 

 
(481)

 

 
957

 

 
1,065

 

 
(923)

 

Net (losses) gains recognized on fair value hedges (ineffective portion)

 

 
(2)

 

 
(20)

 

 
26

 

 
92

 

Net losses recognized on fair value hedges

 

$
(281)

 

$
(567)

 

$
(947)

 

$
(1,919)

 

 

Summary of effect of cash flow hedging relationships

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

(dollars in thousands)

    

2016

    

2015

    

2016

    

2015

 

Pretax gains (losses) recognized in other comprehensive loss on derivatives (effective portion)

 

$
1,545

 

$
(819)

 

$
917

 

$
(550)

 

Pretax gain reclassified from accumulated other comprehensive income

 

$

 —

 

$

 —

 

$

 —

 

$
(457)

 

 

Summary of impact on pretax earnings of derivatives not designated as hedges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Gains (Losses) Recognized

 

Three Months Ended

 

Nine Months Ended

 

 

 

in the Consolidated Statements

 

September 30, 

 

September 30, 

 

(dollars in thousands)

  

of Income Line Item

   

2016

    

2015

    

2016

    

2015

 

Derivatives Not Designated As Hedging Instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps

 

Other noninterest income

 

$
378

 

$
(225)

 

$
(17)

 

$
(433)

 

Funding swaps

 

Other noninterest income

 

$
6

 

$

 —

 

$
25

 

$

 —

 

Foreign exchange contracts

 

Other noninterest income

 

$
72

 

$
14

 

$
(50)

 

$
14