Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Notes Tables

Summary of information regarding the Company's derivative financial instruments

	September 30, 2021				December 31, 2020
	Notional		Net Carrying		Notional		Net Carrying
	Amount		Value (1)		Amount		Value (1)
	(In thousands)
Interest rate swaps (non-hedge)	$	114,835	$	3,225	$	62,779	$	1,319
Interest rate swaps (cash flow hedge)		355,000		4,168		—		—
Interest rate swaps (fair value hedge)		308,350		(15,296)		316,051		(28,689)
Interest rate swaps (cash flow hedge)		641,500		(14,675)		1,021,500		(25,300)
Interest rate swaps (non-hedge)		114,835		(3,225)		80,779		(6,998)
Total derivatives	$	1,534,520	$	(25,803)	$	1,481,109	$	(59,668)

(1)Derivatives in a positive position are recorded as “Other assets” and derivatives in a negative position are recorded as “Other liabilities” in the Consolidated Statements of Financial Condition.

Schedule of effect of derivative instruments on the Consolidated Statements of Income

		For the three months ended				For the nine months ended
		September 30,				September 30,
(In thousands)	Affected Line Item in the Statement Where Net income is Presented	2021		2020		2021		2020
Financial Derivatives:
	Other interest expense	$	(33)	$	(132)	$	(305)	$	(298)
	Net gain (loss) from fair value adjustments		(445)		590		978		(3,220)
Interest rate swaps (non-hedge)			(478)		458		673		(3,518)
Interest rate swaps (fair value hedge)	Interest and fees on loans		(1,206)		(1,158)		(3,231)		(4,863)
Interest rate swaps (cash flow hedge)	Other interest expense		(2,737)		(2,511)		(7,942)		(4,057)
Net loss		$	(4,421)	$	(3,211)	$	(10,500)	$	(12,438)

Schedule of effect of the master netting arrangements on the presentation of the derivative assets and liabilities in the Consolidated Statements of Condition

September 30, 2021

Gross Amounts Not Offset in the

Consolidated Statement of

Gross Amount Offset in

Net Amount of Assets

Condition

Gross Amount of

the Statement of

Presented in the Statement of

Financial

Cash Collateral

(In thousands)

Recognized Assets

Condition

Condition

Instruments

Received

Net Amount

Interest rate swaps

$

7,393

$

—

$

7,393

$

—

$

—

$

7,393

Gross Amounts Not Offset in the

Consolidated Statement of

Gross Amount of

Gross Amount Offset in

Net Amount of Liabilities

Condition

Recognized

the Statement of

Presented in the Statement of

Financial

Cash Collateral

(In thousands)

Liabilities

Condition

Condition

Instruments

Pledged

Net Amount

Interest rate swaps

$

33,196

$

—

$

33,196

$

—

$

29,067

$

4,129

December 31, 2020

Gross Amounts Not Offset in the

Consolidated Statement of

Gross Amount Offset in

Net Amount of Assets

Condition

Gross Amount of

the Statement of

Presented in the Statement of

Financial

Cash Collateral

(In thousands)

Recognized Assets

Condition

Condition

Instruments

Received

Net Amount

Interest rate swaps

$

1,319

$

—

$

1,319

$

—

$

—

$

1,319

Gross Amounts Not Offset in the

Consolidated Statement of

Gross Amount of

Gross Amount Offset in

Net Amount of Liabilities

Condition

Recognized

the Statement of

Presented in the Statement of

Financial

Cash Collateral

(In thousands)

Liabilities

Condition

Condition

Instruments

Pledged

Net Amount

Interest rate swaps

$

60,987

$

—

$

60,987

$

99

$

63,517

$

(2,629)