DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Schedule of Notional Amounts and Gross Fair Values of Derivative Assets and Derivative Liabilities

The following table presents notional amounts and gross fair values of our derivative assets and derivative liabilities:

	September 30, 2017						December 31, 2016
	Notional		Fair Value				Notional		Fair Value
(in thousands)	Amount		Asset		Liability		Amount		Asset		Liability
Gross Derivatives
Subject to master netting arrangements:
Interest rate contracts – designated	$	705,000	$	807	$	1,248	$	450,000	$	9,256	$	1,171
Interest rate swaps – not designated	2,061,003		491		13,864		1,689,157		12,720		34,046
Equity contracts – not designated	1,180		49		—		1,180		61		—
Total subject to master netting arrangements	2,767,183		1,347		15,112		2,140,337		22,037		35,217
Not subject to master netting arrangements:
Interest rate swaps – not designated	2,061,003		36,814		9,859		1,689,157		32,170		11,866
Interest rate lock commitments – not designated	159,437		4,569		56		—		—		—
Forward delivery commitments – not designated	202,040		705		199		—		—		—
Credit risk contracts – not designated	234,562		42		153		174,538		13		123
Equity contracts – not designated	1,180		—		49		1,180		—		61
Total not subject to master netting arrangements	2,658,222		42,130		10,316		1,864,875		32,183		12,050
Total	$	5,425,405	$	43,477	$	25,428	$	4,005,212	$	54,220	$	47,267

Summary of Amounts Reclassified from Accumulated Other Comprehensive Income (AOCI)

The following table shows amounts reclassified from accumulated other comprehensive income (AOCI) for the nine months ended September 30, 2017:

(in thousands)	Total		Net of Tax
Reclassified from AOCI to interest income	$	1,185	$	770
Reclassified from AOCI to interest expense	1,059		688

Derivative Assets

The following table presents information about derivative assets and derivative liabilities that are subject to enforceable master netting arrangements as well as those not subject to enforceable master netting arrangements:

(in thousands)	Gross Amount		Gross Amounts Offset in the Balance Sheet	Net Amount Presented in the Balance Sheet
September 30, 2017
Derivative Assets
Subject to master netting arrangements:
Interest rate contracts
Designated	$	807	—	$	807
Not designated	491		—	491
Equity contracts – not designated	49		—	49
Not subject to master netting arrangements:
Interest rate contracts – not designated	36,814		—	36,814
Interest rate lock commitments – not designated	4,569		—	4,569
Forward delivery commitments – not designated	705		—	705
Credit risk contracts – not designated	42		—	42
Total derivative assets	$	43,477	—	$	43,477

December 31, 2016
Derivative Assets
Subject to master netting arrangements:
Interest rate contracts
Designated	$	9,256	—	$	9,256
Not designated	12,720		—	12,720
Equity contracts – not designated	61		—	61
Not subject to master netting arrangements:
Interest rate contracts – not designated	32,170		—	32,170
Credit contracts – not designated	13		—	13
Total derivative assets	$	54,220	—	$	54,220

Derivative Liabilities

The following table presents information about derivative assets and derivative liabilities that are subject to enforceable master netting arrangements as well as those not subject to enforceable master netting arrangements:

(in thousands)	Gross Amount		Gross Amounts Offset in the Balance Sheet	Net Amount Presented in the Balance Sheet
September 30, 2017
Derivative Liabilities
Subject to master netting arrangements:
Interest rate contracts
Designated	$	1,248	—	$	1,248
Not designated	13,864		—	13,864
Not subject to master netting arrangements:
Interest rate contracts – not designated	9,859		—	9,859
Interest rate lock commitments – not designated	56		—	56
Forward delivery commitments – not designated	199		—	199
Credit risk contracts – not designated	153		—	153
Equity contracts – not designated	49		—	49
Total derivative liabilities	$	25,428	—	$	25,428

December 31, 2016
Derivative Liabilities
Subject to master netting arrangements:
Interest rate contracts
Designated	$	1,171	—	$	1,171
Not designated	34,046		—	34,046
Not subject to master netting arrangements:
Interest rate contracts – not designated	11,866		—	11,866
Credit contracts – not designated	123		—	123
Equity contracts – not designated	61		—	61
Total derivative liabilities	$	47,267	—	$	47,267

Effect of Derivative Financial Instruments on Income Statement

The following table presents the effect of certain derivative financial instruments on the income statement:

		Nine Months Ended September 30,
(in thousands)	Income Statement Location	2017			2016
Interest Rate Contracts	Interest income - loans and leases	$	1,185		$	2,030
Interest Rate Contracts	Interest expense – short-term borrowings	1,059			554
Interest Rate Swaps	Other income	(592		)	(467		)
Credit Risk Contracts	Other income	(1		)	(172		)

Collateral Held By Counterparty [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Derivative Assets

The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheets to the net amounts that would result in the event of offset:

			Amount Not Offset in the Balance Sheet
(in thousands)	Net Amount Presented in the Balance Sheet		Financial Instruments		Cash Collateral	Net Amount
September 30, 2017
Derivative Assets
Interest rate contracts:
Designated	$	807	$	807	—	$	—
Not designated	491		491		—	—
Equity contracts – not designated	49		49		—	—
Total	$	1,347	$	1,347	—	$	—

December 31, 2016
Derivative Assets
Interest rate contracts:
Designated	$	9,256	$	843	$	8,413	$	—
Not designated	12,720		474		12,132		114
Equity contracts – not designated	61		61		—		—
Total	$	22,037	$	1,378	$	20,545	$	114

Derivative Liabilities

The following table presents a reconciliation of the net amounts of derivative assets and derivative liabilities presented in the balance sheets to the net amounts that would result in the event of offset:

			Amount Not Offset in the Balance Sheet
(in thousands)	Net Amount Presented in the Balance Sheet		Financial Instruments		Cash Collateral	Net Amount
September 30, 2017
Derivative Liabilities
Interest rate contracts:
Designated	$	1,248	$	1,248	—	$	—
Not designated	13,864		12,973		—	891
Total	$	15,112	$	14,221	—	$	891

December 31, 2016
Derivative Liabilities
Interest rate contracts:
Designated	$	1,171	$	1,171	$	—	$	—
Not designated	34,046		15,490		17,651		905
Total	$	35,217	$	16,661	$	17,651	$	905

Designated as Hedging Instrument [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Summary of Key Data Related to Interest Rate

Following is a summary of key data related to interest rate contracts:

(in thousands)	September 30, 2017		December 31, 2016
Notional amount	$	705,000	$	450,000
Fair value included in other assets	807		9,256
Fair value included in other liabilities	1,248		1,171

Not Designated as Hedging Instrument [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Summary of Key Data Related to Interest Rate

Following is a summary of key data related to interest rate swaps:

(in thousands)	September 30, 2017		December 31, 2016
Notional amount	$	4,122,006	$	3,378,314
Fair value included in other assets	37,305		44,890
Fair value included in other liabilities	23,723		45,912