Interest Rate Swaps (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Amounts and Locations of Activity Related to Interest Rate Swaps

The following tables provide information about the amounts and locations of activity related to the interest rate swaps designated as cash flow hedges within the Corporation’s consolidated balance sheet and statement of income as of December 31, 2018 and 2017 and for the years ended December 31, 2018, 2017, and 2016:



As of December 31	Liability Derivative
	Balance Sheet	Fair value
	Location	2018	2017
Interest rate contract	Accrued interest payable and other liabilities	$(201)	$(161)
For the Year Ended December 31, 2018	(a)	(b)		(c)	(d)	(e)
Interest rate contract	$(32)	Interest expense – subordinated debentures		$(164)	Other income	$0
For the Year Ended December 31, 2017
Interest rate contract	$194	Interest expense – subordinated debentures		$(288)	Other income	$0
For the Year Ended December 31, 2016
Interest rate contract	$180	Interest expense – subordinated debentures		$(340)	Other income	$0


(a)	Amount of Gain or (Loss) Recognized in Other Comprehensive Loss on Derivative (Effective Portion), net of tax


(b)	Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)


(c)	Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion)


(d)	Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)


(e)	Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)

Amounts and Locations of Activity Related to Back-to-Back Interest Rate Swaps

The following table provides information about the amounts and locations of activity related to the back-to-back interest rate swaps within the Corporation’s consolidated balance sheet as of December 31, 2018 and 2017:



	Notional Amount			Average Maturity (in years)	Weighted Average Fixed Rate		Weighted Average Variable Rate	Fair Value
December 31, 2018
3^rd Party interest rate swaps	$	23,152		7.2	3.85	%	1 month LIBOR + 2.24%	485 (a)
Customer interest rate swaps	(23,152		)	7.2	3.85	%	1 month LIBOR + 2.24%	(485) (b)
December 31, 2017
3^rd Party interest rate swaps	$	11,848		8.0	4.51	%	1 month LIBOR + 2.37%	149 (a)
Customer interest rate swaps	(11,848		)	8.0	4.51	%	1 month LIBOR + 2.37%	(149) (b)


(a)	Reported in accrued interest receivable and other assets within the consolidated balance sheets


(b)	Reported in accrued interest payable and other liabilities within the consolidated balance sheets

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details