DERIVATIVES AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of derivative positions for interest rate swaps which qualify as hedges for accounting purposes

The following table reflects the Company’s derivative positions for the periods indicated below for interest rate swaps which qualify as hedges for accounting purposes:

December 31, 2013
Notional Amount		Trade Date	Effective Date	Maturity Date	Receive (Variable) Index	Current Rate Received		Pay Fixed Swap Rate		Fair Value
(Dollars in thousands)
$	25,000	16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.24	%	5.04	%	$	(3,151	)
25,000		16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.24	%	5.04	%	(3,152		)
25,000		9-Dec-08	10-Dec-08	10-Dec-18	3 Month LIBOR	0.24	%	2.94	%	(1,493		)
50,000		17-Nov-09	20-Dec-10	20-Dec-14	3 Month LIBOR	0.25	%	3.04	%	(1,341		)
25,000		5-May-11	10-Jun-11	10-Jun-15	3 Month LIBOR	0.24	%	1.71	%	(493		)
$	150,000									$	(9,630	)
December 31, 2012
Notional Amount		Trade Date	Effective Date	Maturity Date	Receive (Variable) Index	Current Rate Received		Pay Fixed Swap Rate		Fair Value
(Dollars in thousands)
$	25,000	16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.31	%	5.04	%	$	(4,416	)
25,000		16-Feb-06	28-Dec-06	28-Dec-16	3 Month LIBOR	0.31	%	5.04	%	(4,417		)
25,000		8-Dec-08	10-Dec-08	10-Dec-13	3 Month LIBOR	0.31	%	2.65	%	(553		)
25,000		9-Dec-08	10-Dec-08	10-Dec-13	3 Month LIBOR	0.31	%	2.59	%	(539		)
25,000		9-Dec-08	10-Dec-08	10-Dec-18	3 Month LIBOR	0.31	%	2.94	%	(2,819		)
50,000		17-Nov-09	20-Dec-10	20-Dec-14	3 Month LIBOR	0.31	%	3.04	%	(2,647		)
25,000		5-May-11	10-Jun-11	10-Jun-15	3 Month LIBOR	0.31	%	1.71	%	(798		)
$	200,000									$	(16,189	)

Summary of customer related derivative positions, not designated as hedging

The following table reflects the Company’s customer related derivative positions for the periods indicated below for those derivatives not designated as hedges for accounting purposes:

	Number of Positions (1)	Notional Amount Maturing
		Less than 1 year		Less than 2 years	Less than 3 years	Less than 4 years	Thereafter	Total		Fair Value
	December 31, 2013
	(Dollars in thousands)
Loan level swaps
Receive fixed, pay variable	168	$	48,882	97,975	42,957	42,116	329,554	$	561,484	$	9,484
Pay fixed, receive variable	162	$	48,882	97,975	42,957	42,116	329,554	$	561,484	$	(9,523	)
Foreign exchange contracts
Buys foreign currency, sells U.S. currency	6	$	11,367	—	—	—	—	$	11,367	$	396
Buys U.S. currency, sells foreign currency	6	$	11,367	—	—	—	—	$	11,367	$	(390	)
	December 31, 2012
	(Dollars in thousands)
Loan level swaps
Receive fixed, pay variable	143	$	16,766	65,344	105,939	45,267	268,932	$	502,248	$	28,678
Pay fixed, receive variable	137	$	16,766	65,344	105,939	45,267	268,932	$	502,248	$	(28,663	)
Foreign exchange contracts
Buys foreign currency, sells U.S. currency	16	$	42,516	—	—	—	—	$	42,516	$	1,748
Buys U.S. currency, sells foreign currency	16	$	42,516	—	—	—	—	$	42,516	$	(1,718	)

(1)     The Company may enter into one swap agreement which offsets multiple reverse swap agreements. The positions will offset and the terms will be identical.

Fair value of derivative financial instruments as well as their classification on the balance sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheet at the periods indicated:

	Asset Derivatives					Liability Derivatives
	Balance Sheet Location	Fair Value at December 31, 2013		Fair Value at December 31, 2012		Balance Sheet Location	Fair Value at December 31, 2013		Fair Value at December 31, 2012
	(Dollars in thousands)
Derivatives designated as hedges
Interest rate swaps	Other assets	$	—	$	—	Other liabilities	$	9,630	$	16,189
Derivatives not designated as hedges
Customer related positions
Loan level swaps	Other assets	$	16,301	$	28,678	Other liabilities	$	16,340	$	28,663
Foreign exchange contracts	Other assets	396		1,748		Other liabilities	390		1,718
Total		$	16,697	$	30,426		$	16,730	$	30,381

Effect of derivative financial instruments included in OCI and current earnings

The table below presents the effect of the Company’s derivative financial instruments included in OCI and current earnings for the periods indicated:

	Years Ended December 31
	2013			2012			2011
	(Dollars in thousands)
Derivatives designated as hedges
Gain (loss) in OCI on derivative (effective portion), net of tax	$	350		$	(2,122	)	$	(7,021	)
Net loss reclassified from OCI into income (effective portion)	$	(5,723	)	$	(5,417	)	$	(5,472	)
Loss recognized in income on derivative (ineffective portion & amount excluded from effectiveness testing):
Interest expense	$	—		$	—		$	—
Other expense	—			—			—
Total	$	—		$	—		$	—
Derivatives not designated as hedges
Changes in fair value of customer related positions:
Other income	$	38		$	134		$	164
Other expense	(116		)	(49		)	(56		)
Total	$	(78	)	$	85		$	108

Summary of fair value of residential mortgage loans commitments, forward sales agreements, and loans held for sale

The table below summarizes the fair value of mortgage derivatives at the periods indicated:

	December 31
	2013			2012
	(Dollars in thousands)
Mortgage derivative assets
Interest rate lock commitments	$	204		$	102
Forward TBA mortgage contracts	64			—
Total mortgage derivative assets	$	268		$	102
Mortgage derivative liabilities
Forward sales agreements	$	(35	)	$	(223	)
Total mortgage derivative liabilities	$	(35	)	$	(223	)