COMMITMENTS, CONTINGENCIES AND DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2019

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 off-balance sheet financial instruments:

	March 31, 2019		December 31,   2018
Lending-Related Instruments:
Commitments to extend credit	$	669,193	$	654,575
Standby letters of credit	5,938		3,063
Derivative Financial Instruments:
Customer loan swaps	$	802,580	$	833,030
Junior subordinated debt interest rate swaps	43,000		43,000
Fixed-rate mortgage interest rate lock commitments	22,840		12,077
Forward delivery commitments	8,711		4,315
FHLBB advance interest rate swaps	—		25,000

Summary of Derivative Financial Instruments

The following table presents the total positions, notional and fair value of the Company's customer loans swaps with its commercial customers and the corresponding interest rate swap agreements with counterparty for the periods indicated:

		March 31, 2019						December 31, 2018
	Presentation on Consolidated Statements of Condition	Number of Positions	Notional Amount		Fair Value			Number of Positions	Notional Amount		Fair Value
Receive fixed, pay variable	Accrued interest and other liabilities	36	$	149,813	$	(3,320	)	57	$	297,624	$	(7,841	)
Receive fixed, pay variable	Other assets	46	251,477		7,722			25	118,891		3,467
Pay fixed, receive variable	(Accrued interest and other liabilities)/other assets	82	401,290		(4,402		)	82	416,515		4,374
Total		164	$	802,580	$	—		164	$	833,030	$	—

The Company's pipeline of mortgage loans with fixed-rate interest rate lock commitments for which it intends to sell the loan upon origination were as follows for the dates indicated:

		March 31, 2019					December 31, 2018
	Presentation on Consolidated Statements of Condition	Notional Amount		Fair Value			Notional Amount		Fair Value
Fixed-rate mortgage interest rate locks	Other assets	$	18,465	$	293		$	8,239	$	95
Fixed-rate mortgage interest rate locks	Accrued interest and other liabilities	4,375		(45		)	3,838		(28		)
Total		$	22,840	$	248		$	12,077	$	67

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

					March 31, 2019					December 31, 2018
Trade Date	Maturity Date	Variable Index Received	Fixed Rate Paid	Presentation on Consolidated Statements of Condition	Notional Amount		Fair Value			Notional Amount		Fair Value
3/18/2009	6/30/2021	3-Month USD LIBOR	5.09%	Accrued interest and other liabilities	$	10,000	$	(303	)	$	10,000	$	(272	)
7/8/2009	6/30/2029	3-Month USD LIBOR	5.84%	Accrued interest and other liabilities	10,000		(1,932		)	10,000		(1,655		)
5/6/2010	6/30/2030	3-Month USD LIBOR	5.71%	Accrued interest and other liabilities	10,000		(1,938		)	10,000		(1,636		)
3/14/2011	3/30/2031	3-Month USD LIBOR	4.35%	Accrued interest and other liabilities	5,000		(1,036		)	5,000		(877		)
5/4/2011	7/7/2031	3-Month USD LIBOR	4.14%	Accrued interest and other liabilities	8,000		(1,502		)	8,000		(1,242		)
					$	43,000	$	(6,711	)	$	43,000	$	(5,682	)

Forward Delivery Commitments

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

		March 31, 2019					December 31, 2018
	Balance Sheet Location	Notional		Fair Value			Notional		Fair Value
Forward delivery commitments ("best effort")	Other Assets	$	5,811	$	129		$	2,593	$	32
Forward delivery commitments ("best effort")	Accrued interest and other liabilities	2,900		(31		)	1,722		(17		)
Total		$	8,711	$	98		$	4,315	$	15

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 Three Months Ended March 31,
	2019			2018
Derivatives designated as cash flow hedges:
Effective portion of unrealized (losses) gains recognized within OCI during the period, net of tax	$	(925	)	$	1,328
Net reclassification adjustment for effective portion of cash flow hedges included in interest expense, gross	$	119		$	64