Commitments, Contingencies and Derivatives (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

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,
	2017		2016
Lending-Related Instruments:
Loan origination commitments and unadvanced lines of credit:
Home equity	$	477,401	$	454,225
Commercial and commercial real estate	49,482		83,103
Residential	41,368		17,795
Letters of credit	2,848		2,580
Other commitments	523		432
Derivative Financial Instruments:
Customer loan swaps	$	703,336	$	532,526
FHLBB advance interest rate swaps	50,000		50,000
Junior subordinated debt interest rate swaps	43,000		43,000
Fixed-rate mortgage interest rate lock commitments	21,746		15,249
Forward delivery commitments	8,065		15,125

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,
		2017					2016
	Balance Sheet Location	Notional		Fair Value			Notional		Fair Value
Fixed-rate mortgage interest rate locks	Other assets	$	19,886	$	307		$	12,310	$	202
Fixed-rate mortgage interest rate locks	Accrued interest and other liabilities	1,860		(22		)	2,939		(15		)
Total		$	21,746	$	285		$	15,249	$	187

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,
		2017						2016
	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)	42	$	226,884	$	(5,036	)	50	$	266,263	$	(1,945	)
Receive fixed, pay variable	Other assets / (accrued interest and other liabilities)	23	124,784		1,799			—	—		—
Pay fixed, receive variable	Other assets / (accrued interest and other liabilities)	65	351,668		3,237			50	266,263		1,945
Total		130	$	703,336	$	—		100	$	532,526	$	—

Summary of Contractual and Notional Amounts of Company's Financial Instruments

The Company's forward delivery commitments on loans held for sale was as follows for the periods indicated:

		December 31,
		2017					2016
	Balance Sheet Location	Notional		Fair Value			Notional		Fair Value
Forward delivery commitments ("best-effort")	Other assets	$	6,692	$	158		$	14,250	$	587
Forward delivery commitments ("best-effort")	Accrued interest and other liabilities	1,373		(16		)	875		(309		)
Total		$	8,065	$	142		$	15,125	$	278

The details of the junior subordinated debt interest rate swaps for the periods indicated were as follows:

						December 31,
						2017			2016
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%	$	(527	)	$	(806	)
10,000		7/8/2009	6/30/2029	3-Month USD LIBOR	5.84%	(2,133		)	(2,321		)
10,000		5/6/2010	6/30/2030	3-Month USD LIBOR	5.71%	(2,129		)	(2,290		)
5,000		3/14/2011	3/30/2031	3-Month USD LIBOR	4.35%	(1,137		)	(1,211		)
8,000		5/4/2011	7/7/2031	3-Month USD LIBOR	4.14%	(1,645		)	(1,744		)
$	43,000					$	(7,571	)	$	(8,372	)

(1) Presented within accrued interest and other liabilities on the consolidated statements of condition.

The details of the FHLBB advance interest rate swaps for the periods indicated were as follows:

						December 31,
						2017		2016
Notional Amount		Trade Date	Maturity Date	Variable Index Received	Fixed Rate Paid	Fair Value(1)		Fair Value(2)
$	25,000	2/25/2015	2/25/2018	1-Month USD LIBOR	1.54%	$	20	$	(152	)
25,000		2/25/2015	2/25/2019	1-Month USD LIBOR	1.74%	1		(237		)
$	50,000					$	21	$	(389	)

(1) Presented within other assets on the consolidated statements of condition.

(2) Presented within accrued interest and other liabilities on the consolidated statements of condition.

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,
	2017			2016			2015
Derivatives designated as cash flow hedges
Effective portion of unrealized losses recognized within AOCI during the period, net of tax	$	(248	)	$	(637	)	$	(1,533	)
Net reclassification adjustment for effective portion of cash flow hedges included in interest expense, gross(1)	$	1,592		$	2,026		$	1,695

(1) Reclassified into the consolidated statements of income within interest expense.