Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of the notional amount and fair value of the derivative financial instruments

The notional amount and fair value of the Company’s derivative financial instruments as of September 30, 2019 and December 31, 2018 were as follows:

	September 30, 2019						December 31, 2018
(dollars in thousands)	Notional Amount			Fair Value			Notional Amount			Fair Value
Interest Rate Lock Commitments		$	110,702	$	2,788			$	33,133	$	871
Forward Commitments		130,815		201				34,102		(352		)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		763,316		37,289				505,034		(2,537		)
Pay Fixed/Receive Variable Swaps		763,316		(8,166		)		505,034		6,082
Foreign Exchange Contracts		72,683		(405		)		55,663		793
Conversion Rate Swap Agreement		104,816		(453		)		80,746		—

Derivative financial instruments, their fair values, and balance sheet location

The following table presents the Company’s derivative financial instruments, their fair values, and their location in the consolidated statements of condition as of September 30, 2019 and December 31, 2018:

Derivative Financial Instruments	September 30, 2019				December 31, 2018
Not Designated as Hedging Instruments 1	Asset		Liability		Asset		Liability
(dollars in thousands)	Derivatives		Derivatives		Derivatives		Derivatives
Interest Rate Lock Commitments	$	2,788	$	—	$	877	$	6
Forward Commitments	391		190		4		356
Interest Rate Swap Agreements	37,472		8,349		12,915		9,370
Foreign Exchange Contracts	41		446		808		15
Conversion Rate Swap Agreement	—		453		—		—
Total	$	40,692	$	9,438	$	14,604	$	9,747

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Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition.

Derivative financial instruments and the amount and location of the net gains or losses recognized in the statements of income

The following table presents the Company’s derivative financial instruments and the amount and location of the net gains or losses recognized in the consolidated statements of income for the three and nine months ended September 30, 2019 and 2018:

	Location of
Derivative Financial Instruments	Net Gains (Losses)	Three Months Ended					Nine Months Ended
Not Designated as Hedging Instruments	Recognized in the	September 30,					September 30,
(dollars in thousands)	Statements of Income	2019			2018		2019			2018
Interest Rate Lock Commitments	Mortgage Banking	$	4,381		$	729	$	9,667		$	2,227
Forward Commitments	Mortgage Banking	(282		)	207		(2,257		)	1,131
Interest Rate Swap Agreements	Other Noninterest Income	2,967			558		5,863			1,308
Foreign Exchange Contracts	Other Noninterest Income	480			681		2,546			2,640
Conversion Rate Swap Agreement	Investment Securities Gains (Losses), Net	(453		)	—		(453		)	(1,000		)
Total		$	7,093		$	2,175	$	15,366		$	6,306