Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2017

Derivative [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 which are not offset in the balance sheet.

December 31	2017						2016
	Notional Amount		Fair Value				Notional Amount		Fair Value
(in thousands)			Asset		Liability				Asset		Liability
Gross Derivatives
Subject to master netting arrangements:
Interest rate contracts – designated	$	705,000	$	228	$	1,982	$	450,000	$	9,256	$	1,171
Interest rate swaps – not designated	2,245,442		1,169		11,599		1,689,157		12,720		34,046
Equity contracts – not designated	1,180		51		—		1,180		61		—
Total subject to master netting arrangements	2,951,622		1,448		13,581		2,140,337		22,037		35,217
Not subject to master netting arrangements:
Interest rate swaps – not designated	2,245,442		27,233		15,303		1,689,157		32,170		11,866
Interest rate lock commitments – not designated	88,107		1,594		5		—		—		—
Forward delivery commitments – not designated	106,572		233		148		—		—		—
Credit risk contracts – not designated	235,196		39		109		174,538		13		123
Equity contracts – not designated	1,180		—		51		1,180		—		61
Total not subject to master netting arrangements	2,676,497		29,099		15,616		1,864,875		32,183		12,050
Total	$	5,628,119	$	30,547	$	29,197	$	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):

December 31	2017				2016
(in thousands)	Total		Net of Tax		Total		Net of Tax
Reclassified from AOCI to interest income	$	1,446	$	940	$	2,659	$	1,728
Reclassified from AOCI to interest expense	1,374		893		703		457

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
December 31, 2017
Derivative Assets
Interest rate contracts:
Designated	$	228	$	228	$	—	$	—
Not designated	1,169		1,169		—		—
Equity contracts – not designated	51		51		—		—
Total	$	1,448	$	1,448	$	—	$	—

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
Derivative Liabilities
Interest rate contracts:
Designated	$	1,982	$	1,982	$	—	$	—
Not designated	11,599		10,940		—		659
Total	$	13,581	$	12,922	$	—	$	659

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

Effect of Derivative Financial Instruments on Income Statement

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

		Year Ended December 31,
(in thousands)	Income Statement Location	2017			2016
Interest Rate Contracts	Interest income – loans and leases	$	1,446		$	2,659
Interest Rate Contracts	Interest expense – short-term borrowings	1,374			703
Interest Rate Swaps	Other income	(592		)	(529		)
Credit Risk Contracts	Other income	40			16

Designated as Hedging Instrument

Derivative [Line Items]

Summary of Key Data Related to Interest Rate

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

December 31	2017		2016
(in thousands)
Notional amount	$	705,000	$	450,000
Fair value included in other assets	228		9,256
Fair value included in other liabilities	1,982		1,171

Not Designated as Hedging Instrument

Derivative [Line Items]

Summary of Key Data Related to Interest Rate

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

December 31	2017		2016
(in thousands)
Notional amount	$	4,490,884	$	3,378,314
Fair value included in other assets	28,402		44,890
Fair value included in other liabilities	26,902		45,912