Derivatives (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional and gross fair values of derivatives

The following table presents the total notional and gross fair value of the Company’s derivatives as of March 31, 2018 and December 31, 2017. The derivative asset and liability balances are presented on a gross basis, prior to the application of master netting arrangements, as included in Other assets and Accrued expenses and other liabilities, respectively,on the Consolidated Balance Sheet.

($ in thousands)	March 31, 2018							December 31, 2017
	Notional Amount			Fair Value				Notional Amount			Fair Value
				Derivative Assets		Derivative  Liabilities					Derivative Assets		Derivative  Liabilities
Derivatives designated as hedging instruments:
Fair value hedges:
Interest rate swaps	$	35,811		$	—	$	8,251	$	35,811		$	—	$	6,799
Net investment hedges:
Foreign exchange forwards	97,464			—		1,154		—			—		—
Total derivatives designated as hedging instruments	$	133,275		$	—	$	9,405	$	35,811		$	—	$	6,799
Derivatives not designated as hedging instruments:
Interest rate swaps and options	$	10,155,401		$	51,933	$	72,893	$	9,333,860		$	58,633	$	57,958
Foreign exchange spot and forwards	895,788			6,087		4,066		770,215			5,840		10,170
Credit risk participation agreements	81,928			1		21		49,033			1		8
Equity warrants	—		(1)	1,513		—		—		(1)	1,672		—
Commodity options	—		(2)	297		288		—			—		—
Total derivatives not designated as hedging instruments	$	11,133,117		$	59,831	$	77,268	$	10,153,108		$	66,146	$	68,136

(1) The Company held four warrants in public companies and 24 warrants in private companies as of March 31, 2018. The Company held four warrants in public companies and 23 warrants in private companies as of December 31, 2017.

(2) The notional amount of the Company’s commodity option contracts entered with its customers and Chicago Mercantile Exchange (“CME”) totaled 216,000 barrels of oil each as of March 31, 2018.

Schedule of net gains (losses) recognized on the Consolidated Statement of Income related to derivatives designated as fair value hedge

The following table presents the net (losses) gains recognized on the Consolidated Statement of Income related to the derivatives designated as fair value hedges for the three months ended March 31, 2018 and 2017:

($ in thousands)	Three Months Ended March 31,
	2018			2017
(Losses) gains recorded in interest expense:
Recognized on interest rate swaps	$	(1,452	)	$	(817	)
Recognized on certificates of deposit	$	1,279		$	688

Schedule of the carrying amount and associated cumulative basis adjustment related to the application of fair value hedge accounting that is included in the carrying amount of the hedged certificates of deposit

The following table presents the carrying amount and associated cumulative basis adjustment related to the application of fair value hedge accounting that is included in the carrying amount of the hedged certificates of deposit as of March 31, 2018:

($ in thousands)	March 31, 2018
	Hedged Items Currently Designated
	Carrying Amount of the Hedged Assets (Liabilities) (1)			Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets (Liabilities)
Certificates of deposit	$	(29,779	)	$	6,024

(1) The balance represents the full carrying amount of the hedged certificates of deposit as of the balance sheet date.

Schedule of net gains (losses) recognized related to derivatives not designated on the Consolidated Statements of Income as hedging instruments

The following table presents the net gains (losses) recognized on the Company’s Consolidated Statement of Income related to derivatives not designated as hedging instruments for the three months ended March 31, 2018 and 2017:

($ in thousands)	Location in Consolidated Statement of Income	Three Months Ended March 31,
		2018			2017
Derivatives not designated as hedging instruments:
Interest rate swaps and options	Derivative fees and other income	$	1,106		$	(1,066	)
Foreign exchange spot and forwards	Letters of credit fees and foreign exchange income	3,857			5,838
Credit risk participation agreements	Derivative fees and other income	(13		)	1
Equity warrants	Ancillary loan fees and other income	(159		)	—
Commodity options	Derivative fees and other income	—			—
Net gains		$	4,791		$	4,773

Schedule of gross derivatives on the Consolidated Balance Sheets and the respective collateral received or pledged in the form of other financial instruments

The following tables present gross derivatives on the Consolidated Balance Sheet and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities and/or cash. The collateral amounts in these tables are limited to the outstanding balances of the related asset or liability (after netting is applied); thus instances of overcollateralization are not shown:

($ in thousands)	As of March 31, 2018
	Total		Contracts Not Subject to Master Netting Arrangements		Contracts Subject to Master Netting Arrangements
	Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Offset on the Consolidated Balance Sheet		Net Amounts Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet
											Derivative Amount				Collateral Received				Net Amount
Derivative Assets	$	59,831	$	20,954	$	38,877	$	—	$	38,877	$	(12,957	)	(1)	$	(23,810	)	(2)	$	2,110
	Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Offset on the Consolidated Balance Sheet		Net Amounts Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet
											Derivative Amount				Collateral  Posted				Net Amount
Derivative Liabilities	$	86,673	$	61,135	$	25,538	$	—	$	25,538	$	(12,957	)	(1)	$	(12,038	)	(3)	$	543

($ in thousands)	As of December 31, 2017
	Total		Contracts Not Subject to Master Netting Arrangements		Contracts Subject to Master Netting Arrangements
	Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Offset on the Consolidated Balance Sheet		Net Amounts Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet
											Derivative Amounts				Collateral Received				Net Amount
Derivative Assets	$	66,146	$	36,941	$	29,205	$	—	$	29,205	$	(18,955	)	(1)	$	(9,839	)	(2)	$	411
	Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Offset on the Consolidated Balance Sheet		Net Amounts Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet
											Derivative Amounts				Collateral  Posted				Net Amount
Derivative Liabilities	$	74,935	$	26,732	$	48,203	$	—	$	48,203	$	(18,955	)	(1)	$	(28,796	)	(3)	$	452

(1) Represents the netting of derivative receivable and payable balances for the same counterparty under enforceable master netting arrangements if the Company has elected to net.

(2) Represents cash and securities received against derivative assets with the same counterparty that are subject to enforceable master netting arrangements, including $6.9 million and $8.6 million of cash collateral received as of March 31, 2018 and December 31, 2017, respectively.

(3) Represents cash and securities pledged against derivative liabilities with the same counterparty that are subject to enforceable master netting arrangements, including $1.5 million and $10.7 million of cash collateral posted as of March 31, 2018 and December 31, 2017, respectively.