DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 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.

TABLE 9.1

	September 30, 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	$	855,000	$	—	$	4,760	$	705,000	$	228	$	1,982
Interest rate swaps – not designated	2,674,906		5,353		6,147		2,245,442		1,169		11,599
Equity contracts – not designated	1,180		23		—		1,180		51		—
Total subject to master netting arrangements	3,531,086		5,376		10,907		2,951,622		1,448		13,581
Not subject to master netting arrangements:
Interest rate swaps – not designated	2,674,906		12,214		64,006		2,245,442		27,233		15,303
Interest rate lock commitments – not designated	67,079		772		21		88,107		1,594		5
Forward delivery commitments – not designated	90,861		362		33		106,572		233		148
Credit risk contracts – not designated	201,781		23		51		235,196		39		109
Equity contracts – not designated	1,180		—		23		1,180		—		51
Total not subject to master netting arrangements	3,035,807		13,371		64,134		2,676,497		29,099		15,616
Total	$	6,566,893	$	18,747	$	75,041	$	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 nine months ended September 30, 2018:

TABLE 9.3

(in thousands)	Total			Net of Tax
Reclassified from AOCI to interest income	$	(130	)	$	(103	)
Reclassified from AOCI to interest expense	(1,693		)	(1,337		)

Effect of Derivative Financial Instruments on Income Statement

The following table presents the effect of certain derivative financial instruments on the Income Statement:

TABLE 9.6

		Nine Months Ended September 30,
(in thousands)	Income Statement Location	2018			2017
Interest Rate Contracts	Interest income - loans and leases	$	(130	)	$	1,185
Interest Rate Contracts	Interest expense – short-term borrowings	(1,693		)	1,059
Interest Rate Swaps	Other income	956			(592		)
Credit Risk Contracts	Other income	42			(1		)

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:

TABLE 9.2

(in thousands)	September 30, 2018		December 31, 2017
Notional amount	$	855,000	$	705,000
Fair value included in other assets	—		228
Fair value included in other liabilities	4,760		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:

TABLE 9.4

(in thousands)	September 30, 2018		December 31, 2017
Notional amount	$	5,349,812	$	4,490,884
Fair value included in other assets	17,567		28,402
Fair value included in other liabilities	70,153		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
September 30, 2018
Derivative Assets
Interest rate contracts:
Designated	$	—	$	—	—	$	—
Not designated	5,353		5,279		—	74
Equity contracts – not designated	23		23		—	—
Total	$	5,376	$	5,302	—	$	74

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
September 30, 2018
Derivative Liabilities
Interest rate contracts:
Designated	$	4,760	$	4,760	—	$	—
Not designated	6,147		5,840		—	307
Total	$	10,907	$	10,600	—	$	307

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