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Commitments And Contingencies (Tables)
12 Months Ended
Dec. 31, 2016
Derivatives, Fair Value [Line Items]  
Summary of Contractual and Notional Amounts of Financial Instruments
The following is a summary of the contractual and notional amounts of the Company’s financial instruments:
 
December 31,
  
2016
 
2015
Lending-Related Instruments:
  

 
  

Loan origination commitments and unadvanced lines of credit:
  

 
  

Home equity
$
454,225

 
$
464,701

Commercial and commercial real estate
83,103

 
94,791

Residential
17,795

 
16,256

Letters of credit
2,580

 
4,468

Other commitments
432

 
433

Derivative Financial Instruments:
 
 
 
Customer loan swaps
532,526

 
285,888

FHLBB advance interest rate swaps
50,000

 
50,000

Junior subordinated debt interest rate swaps
43,000

 
43,000

Interest rate lock commitments
15,249

 
20,735

Forward delivery commitments
15,125

 



Summary of Contractual and Notional Amounts of Company's Financial Instruments
The details of its interest rate swap agreements are outlined in the table below:
 
 
 
 
 
 
 
 
 
 
December 31,
 
 
 
 
 
 
 
 
 
 
2016
 
2015
Notional
 Amount
 
Trade
 Date
 
Maturity Date
 
Variable Index
Received
 
Fixed Rate
Paid
 
Fair Value(1)
 
Fair Value(1)
$
10,000

 
3/18/2009
 
6/30/2021
 
3-Month USD LIBOR
 
5.09%
 
$
(806
)
 
$
(1,038
)
10,000

 
7/8/2009
 
6/30/2029
 
3-Month USD LIBOR
 
5.84%
 
(2,321
)
 
(2,537
)
10,000

 
5/6/2010
 
6/30/2030
 
3-Month USD LIBOR
 
5.71%
 
(2,290
)
 
(2,477
)
5,000

 
3/14/2011
 
3/30/2031
 
3-Month USD LIBOR
 
4.35%
 
(1,211
)
 
(1,301
)
8,000

 
5/4/2011
 
7/7/2031
 
3-Month USD LIBOR
 
4.14%
 
(1,744
)
 
(1,876
)
$
43,000

 
 
 
 
 
 
 
 
 
$
(8,372
)
 
$
(9,229
)

(1) Presented within accrued interest and other liabilities on the consolidated statements of condition.
 
 
 
 
 
 
 
 
 
 
December 31,
 
 
 
 
 
 
 
 
 
 
2016
 
2015
Notional
Amount
 
Trade
Date
 
Maturity Date
 
Variable Index
Received
 
Fixed Rate
Paid
 
Fair Value(1)
 
Fair Value(1)
$
25,000

 
2/25/2015
 
2/25/2018
 
1-Month USD LIBOR
 
1.54%
 
$
(152
)
 
$
(230
)
25,000

 
2/25/2015
 
2/25/2019
 
1-Month USD LIBOR
 
1.74%
 
(237
)
 
(346
)
$
50,000

 
 
 
 
 
 
 
 
 
$
(389
)
 
$
(576
)
The Company's forward delivery commitments on loans held for sale was as follows for the periods indicated:
 
 
 
 
December 31,
 
 
 
 
2016
 
2015
 
 
Balance Sheet Location
 
Notional
 
Fair
Value
 
Notional
 
Fair
Value
Forward delivery commitments ("best-effort")
 
Other assets
 
$
14,250

 
$
587

 
$

 
$

Forward delivery commitments ("best-effort")
 
Accrued interest and other liabilities
 
875

 
(309
)
 

 

Total
 
 
 
$
15,125

 
$
278

 
$

 
$

Schedule of Interest Rate Derivatives
Our pipeline of mortgage loans with fixed-rate interest rate lock commitments were as follows for the periods indicated:
 
 
 
 
December 31,
 
 
 
 
2016
 
2015
 
 
Balance Sheet Location
 
Notional
 
Fair
Value
 
Notional
 
Fair
Value
Fixed-rate mortgage interest rate locks
 
Other assets
 
$
12,310

 
$
202

 
$
12,669

 
$
229

Fixed-rate mortgage interest rate locks
 
Accrued interest and other liabilities
 
2,939

 
(15
)
 
8,066

 
(90
)
Total
 
 
 
$
15,249

 
$
187

 
$
20,735

 
$
139

The following table presents the total positions, notional and fair value of the Bank's customer loans swaps with its commercial customers and the corresponding interest rate swap agreements with counterparty for the periods indicated:
 
 
 
 
December 31,
 
 
 
 
2016
 
2015
 
 
Balance Sheet Location
 
Number of Positions
 
Notional
 
Fair Value
 
Number of Positions
 
Notional
 
Fair Value
Receive fixed, pay variable
 
Other assets / (accrued interest and other liabilities)
 
50

 
$
266,263

 
$
(1,945
)
 
28

 
$
142,944

 
$
3,166

Pay fixed, received variable
 
Other assets / (accrued interest and other liabilities)
 
50

 
266,263

 
1,945

 
28

 
142,944

 
(3,166
)
Total
 
 
 
100

 
$
532,526

 
$

 
56

 
$
285,888

 
$

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The table below presents the effect of the Company’s derivative financial instruments included in OCI and current earnings for the periods indicated:
 
 
For The Year Ended
December 31,
 
 
2016
 
2015
 
2014
Derivatives designated as cash flow hedges
 
 
 
 
 
 
Effective portion of unrealized losses recognized within AOCI during the period, net of tax
 
$
(637
)
 
$
(1,533
)
 
$
(4,515
)
Net reclassification adjustment for effective portion of cash flow hedges included in interest expense, gross(1)
 
$
2,026

 
$
1,695

 
$
1,714