DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2018

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 which are not offset in the balance sheet.

	March 31, 2018						December 31, 2017
	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	$	—	$	3,662	$	705,000	$	228	$	1,982
Interest rate swaps – not designated	2,422,236		3,481		9,117		2,245,442		1,169		11,599
Equity contracts – not designated	1,180		26		—		1,180		51		—
Total subject to master netting arrangements	3,128,416		3,507		12,779		2,951,622		1,448		13,581
Not subject to master netting arrangements:
Interest rate swaps – not designated	2,422,236		15,176		38,787		2,245,442		27,233		15,303
Interest rate lock commitments – not designated	78,368		1,380		5		88,107		1,594		5
Forward delivery commitments – not designated	94,996		209		231		106,572		233		148
Credit risk contracts – not designated	206,747		20		64		235,196		39		109
Equity contracts – not designated	1,180		—		26		1,180		—		51
Total not subject to master netting arrangements	2,803,527		16,785		39,113		2,676,497		29,099		15,616
Total	$	5,931,943	$	20,292	$	51,892	$	5,628,119	$	30,547	$	29,197

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

The following table shows amounts reclassified from accumulated other comprehensive income for the three months ended March 31, 2018:

(in thousands)	Total			Net of Tax
Reclassified from AOCI to interest income	$	93		$	73
Reclassified from AOCI to interest expense	(129		)	(102		)

Effect of Derivative Financial Instruments on Income Statement

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

		Three Months Ended March 31,
(in thousands)	Income Statement Location	2018			2017
Interest Rate Contracts	Interest income - loans and leases	$	93		$	506
Interest Rate Contracts	Interest expense – short-term borrowings	(129		)	148
Interest Rate Swaps	Other income	(160		)	(219		)
Credit Risk Contracts	Other income	27			19

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)	March 31, 2018		December 31, 2017
Notional amount	$	705,000	$	705,000
Fair value included in other assets	—		228
Fair value included in other liabilities	3,662		1,982

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)	March 31, 2018		December 31, 2017
Notional amount	$	4,844,472	$	4,490,884
Fair value included in other assets	18,657		28,402
Fair value included in other liabilities	47,904		26,902

Counter Party [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
March 31, 2018
Derivative Assets
Interest rate contracts:
Designated	$	—	$	—	—	$	—
Not designated	3,481		3,451		—	30
Equity contracts – not designated	26		26		—	—
Total	$	3,507	$	3,477	—	$	30

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	$	—	$	—

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
March 31, 2018
Derivative Liabilities
Interest rate contracts:
Designated	$	3,662	$	3,662	—	$	—
Not designated	9,117		8,592		—	525
Total	$	12,779	$	12,254	—	$	525

December 31, 2017
Derivative Liabilities
Interest rate contracts:
Designated	$	1,982	$	1,982	$	—	$	—
Not designated	11,599		10,940		—		659
Total	$	13,581	$	12,922	$	—	$	659