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Derivative Instruments and Hedging Activities
 12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
The following table indicates the amounts representing the value of derivative assets and derivative liabilities at December 31:
 
Derivatives (included in
Other Assets)
 
Derivatives (included
in Other Liabilities)
(dollars in thousands)
2018
 
2017
 
2018
 
2017
Derivatives not Designated as Hedging Instruments
 
 
 
 
 
 
 
Interest Rate Swap Contracts—Commercial Loans
 
 
 
 
 
 
 
Fair value
$
5,504

 
$
3,074

 
$
5,340

 
$
3,055

Notional amount
325,750

 
263,841

 
325,750

 
263,841

Collateral posted
160

 
—

 
—

 
1,448

Interest Rate Lock Commitments—Mortgage Loans
 
 
 
 
 
 
 
Fair value
251

 
226

 
—

 
—

Notional amount
6,054

 
6,860

 
—

 
—

Forward Sale Contracts—Mortgage Loans
 
 
 
 
 
 
 
Fair value
55

 
—

 
—

 
5

Notional amount
6,000

 
—

 
—

 
6,580


Presenting offsetting derivatives that are subject to legally enforceable netting arrangements with the same party is permitted. For example, we may have a derivative asset and a derivative liability with the same counterparty to a swap transaction and are permitted to offset the asset position and the liability position resulting in a net presentation.
The following table indicates the gross amounts of commercial loan swap derivative assets and derivative liabilities, the amounts offset and the carrying values in the Consolidated Balance Sheets at December 31:
 
Derivatives (included
in Other Assets)
 
Derivatives (included
in Other Liabilities)
(dollars in thousands)
2018
 
2017
 
2018
 
2017
Derivatives not Designated as Hedging Instruments
 
 
 
 
 
 
 
Gross amounts recognized
$
8,733

 
$
4,974

 
$
8,569

 
$
4,955

Gross amounts offset
(3,229
)
 
(1,900
)
 
(3,229
)
 
(1,900
)
Net amounts presented in the Consolidated Balance Sheets
5,504

 
3,074

 
5,340

 
3,055

Gross amounts not offset(1)
(160
)
 
—

 
—

 
(1,448
)
Net Amount
$
5,344

 
$
3,074

 
$
5,340

 
$
1,607

(1)Amounts represent collateral received for the periods presented.



NOTE 11. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - continued
The following table indicates the gain or loss recognized in income on derivatives for the years ended December 31:
(dollars in thousands)
2018

 
2017

 
2016

Derivatives not Designated as Hedging Instruments
 
 
 
 
 
Interest rate swap contracts—commercial loans
$
145

 
$
17

 
$
(16
)
Interest rate lock commitments—mortgage loans
25

 
(11
)
 
(25
)
Forward sale contracts—mortgage loans
60

 
52

 
(22
)
Total Derivative Gain/ (Loss)
$
230

 
$
58

 
$
(63
)