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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Notion Amoutns and Fair Values of Derivative Financial Instruments
The following table presents a summary of the notional amounts and fair values of derivative financial instruments as of December 31:
 
2012
 
2011
 
Notional
Amount
 
Asset
(Liability)
Fair Value
 
Notional
Amount
 
Asset
(Liability)
Fair Value
 
(in thousands)
Interest Rate Locks with Customers
 
 
 
 
 
 
 
Positive fair values
$
314,416

 
$
6,912

 
$
181,583

 
$
3,888

Negative fair values
9,714

 
(155
)
 
1,593

 
(10
)
Net interest rate locks with customers
 
 
6,757

 
 
 
3,878

Forward Commitments
 
 
 
 
 
 
 
Positive fair values
79,152

 
707

 
3,178

 
13

Negative fair values
236,500

 
(915
)
 
173,208

 
(2,724
)
Net forward commitments
 
 
(208
)
 
 
 
(2,711
)
Interest Rate Swaps
 
 
 
 
 
 
 
Interest rate swaps with customers
130,841

 
7,090

 
33,846

 
2,744

Interest rate swaps with counterparties
130,841

 
(7,090
)
 
33,846

 
(2,744
)
Foreign Exchange Contracts with Customers
 
 
 
 
 
 
 
Positive fair values
1,941

 
137

 
45,143

 
1,413

Negative fair values
10,199

 
(348
)
 
13,984

 
(137
)
Net foreign exchange contracts with customers
 
 
(211
)
 
 
 
1,276

Foreign Exchange Contracts with Correspondent Banks
 
 
 
 
 
 
 
Positive fair values
60,106

 
1,064

 
37,678

 
749

Negative fair values
37,557

 
(1,121
)
 
68,081

 
(2,454
)
Net foreign exchange contracts with correspondent banks
 
 
(57
)
 
 
 
(1,705
)
Net derivative fair value asset
 
 
$
6,281

 
 
 
$
738

Summary of Fair Value Gains and Losses on Derivative Financial Instruments
The following table presents a summary of the fair value gains and losses on derivative financial instruments:
 
2012
 
2011
 
2010
 
Statements of Income Classification
 
(in thousands)
 
 
Interest rate locks with customers
$
2,879

 
$
3,861

 
$
428

 
Mortgage banking income
Forward commitments
2,503

 
(11,190
)
 
7,195

 
Mortgage banking income
Interest rate swaps with customers
4,346

 
2,744

 

 
Other service charges and fees
Interest rate swaps with counterparties
(4,346
)
 
(2,744
)
 

 
Other service charges and fees
Foreign exchange contracts with customers
(1,487
)
 
1,295

 
(535
)
 
Other service charges and fees
Foreign exchange contracts with correspondent banks
1,648

 
(2,133
)
 
268

 
Other service charges and fees
Net fair value gains (losses) on derivative financial instruments
$
5,543

 
$
(8,167
)
 
$
7,356

 
 
Fair Value, Option, Qualitative Disclosures Related to Election [Table Text Block]
The Corporation has elected to record mortgage loans held for sale at fair value to more accurately reflect the results of its mortgage banking activities in its consolidated financial statements. The following table presents a summary of the Corporation’s mortgage loans held for sale and the impact of the fair value election on the consolidated financial statements as of and for the years ended December 31, 2012 and 2011:
 
Cost (1)
 
Fair Value
 
Balance Sheet
Classification
 
Fair Value
Gain
 
Statements of Income Classification
 
(in thousands)
December 31, 2012:
 
 
 
 
 
 
 
 
 
Mortgage loans held for sale
$
65,745

 
$
67,899

 
Loans held for sale
 
$
469

 
Mortgage banking income
December 31, 2011:
 
 
 
 
 
 
 
 
 
Mortgage loans held for sale
45,324

 
47,009

 
Loans held for sale
 
2,349

 
Mortgage banking income
 
(1)
Cost basis of mortgage loans held for sale represents the unpaid principal balance.