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Fair Value Measurement and Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value, Financial Assets and Liabilities Measured on Recurring and Nonrecurring Basis  
Schedule of financial assets (liabilities) measured at fair value on a recurring basis
The following tables present financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2020 and 2019:
($ in thousands)Assets and Liabilities Measured at Fair Value on a Recurring Basis
as of December 31, 2020
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
Fair Value
AFS debt securities:
U.S. Treasury securities$50,761 $— $— $50,761 
U.S. government agency and U.S. government sponsored enterprise debt securities
— 814,319 — 814,319 
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities— 1,153,770 — 1,153,770 
Residential mortgage-backed securities— 1,660,894 — 1,660,894 
Municipal securities— 396,073 — 396,073 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— 239,842 — 239,842 
Residential mortgage-backed securities— 289,775 — 289,775 
Corporate debt securities— 405,968 — 405,968 
Foreign government bonds— 182,531 — 182,531 
Asset-backed securities— 63,231 — 63,231 
Collateralized loan obligations (“CLOs”)— 287,494 — 287,494 
Total AFS debt securities$50,761 $5,493,897 $— $5,544,658 
Investments in tax credit and other investments:
Equity securities (1)
$22,548 $8,724 $— $31,272 
Total investments in tax credit and other investments
$22,548 $8,724 $— $31,272 
Derivative assets:
Interest rate contracts$— $489,132 $— $489,132 
Foreign exchange contracts— 30,300 — 30,300 
Credit contracts— 13 — 13 
Equity contracts— 585 273 858 
Commodity contracts— 82,451 — 82,451 
Gross derivative assets$— $602,481 $273 $602,754 
Netting adjustments (2)
$— $(101,512)$— $(101,512)
Net derivative assets$— $500,969 $273 $501,242 
Derivative liabilities:
Interest rate contracts$— $317,698 $— $317,698 
Foreign exchange contracts— 22,759 — 22,759 
Credit contracts— 206 — 206 
Commodity contracts— 84,165 — 84,165 
Gross derivative liabilities$— $424,828 $— $424,828 
Netting adjustments (2)
$— $(184,697)$— $(184,697)
Net derivative liabilities$— $240,131 $— $240,131 
(1)Equity securities consist of mutual funds with readily determinable fair values.
(2)Represents balance sheet netting of derivative assets and liabilities and related cash collateral under master netting agreements or similar agreements. See Note 5 — Derivatives to the Consolidated Financial Statements in this Form 10-K for additional information.
($ in thousands)Assets and Liabilities Measured at Fair Value on a Recurring Basis
as of December 31, 2019
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
Fair Value
AFS debt securities:
U.S. Treasury securities$176,422 $— $— $176,422 
U.S. government agency and U.S. government sponsored enterprise debt securities
— 581,245 — 581,245 
U.S. government agency and U.S. government sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities— 603,471 — 603,471 
Residential mortgage-backed securities— 1,003,897 — 1,003,897 
Municipal securities— 102,302 — 102,302 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— 88,550 — 88,550 
Residential mortgage-backed securities— 46,548 — 46,548 
Corporate debt securities— 11,149 — 11,149 
Foreign government bonds— 354,172 — 354,172 
Asset-backed securities— 64,752 — 64,752 
CLOs— 284,706 — 284,706 
Total AFS debt securities$176,422 $3,140,792 $— $3,317,214 
Investments in tax credit and other investments:
Equity securities (1)
$21,746 $9,927 $— $31,673 
Total investments in tax credit and other investments
$21,746 $9,927 $— $31,673 
Derivative assets:
Interest rate contracts$— $192,883 $— $192,883 
Foreign exchange contracts— 54,637 — 54,637 
Credit contracts— 2 — 2 
Equity contracts— 993 421 1,414 
Commodity contracts— 81,380 — 81,380 
Gross derivative assets$— $329,895 $421 $330,316 
Netting adjustments (2)
$— $(125,319)$— $(125,319)
Net derivative assets$— $204,576 $421 $204,997 
Derivative liabilities:
Interest rate contracts$— $127,317 $— $127,317 
Foreign exchange contracts— 48,610 — 48,610 
Credit contracts— 84 — 84 
Commodity contracts— 80,517 — 80,517 
Gross derivative liabilities$— $256,528 $— $256,528 
Netting adjustments (2)
$— $(159,799)$— $(159,799)
Net derivative liabilities$— $96,729 $— $96,729 
(1)Equity securities consist of mutual funds with readily determinable fair values.
(2)Represents balance sheet netting of derivative assets and liabilities and related cash collateral under master netting agreements or similar agreements. See Note 5 — Derivatives to the Consolidated Financial Statements in this Form 10-K for additional information.
Reconciliation of the beginning and ending balances for warrants measured at fair value on a recurring basis using significant unobservable inputs (Level 3) The following table provides a reconciliation of the beginning and ending balances of these equity warrants for the years ended December 31, 2020, 2019 and 2018:
($ in thousands)Year Ended December 31,
202020192018
Equity Contracts
Beginning balance$421 $673 $679 
Total gains included in earnings (1)
8,225 563 162 
Issuances— 114 65 
Settlements— (929)(233)
Transfers out of Level 3 (2)
(8,373)— — 
Ending balance$273 $421 $673 
(1)Includes unrealized gains (losses) of $8.2 million, $(292) thousand and $225 thousand for the years ended December 31, 2020, 2019 and 2018, respectively. The realized/unrealized gains (losses) of equity contracts are included in Lending fees on the Consolidated Statement of Income.
(2)During the year ended December 31, 2020, the Company transferred $8.4 million of equity contracts measured on a recurring basis out of Level 3 into Level 2 after the corresponding issuer of the equity warrant, which was previously a private company, completed its initial public offering and became a public company.
Schedule of quantitative information about significant unobservable inputs used in the valuation of level 3 fair value measurements
The following table presents quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements as of December 31, 2020 and 2019, respectively. The significant unobservable inputs presented in the table below are those that the Company considers significant to the fair value of the Level 3 assets. The Company considers unobservable inputs to be significant if, by their exclusion, the fair value of the Level 3 assets would be impacted by a predetermined percentage change.
($ in thousands)Fair Value
Measurements
(Level 3)		Valuation
Technique		Unobservable
Inputs		Range of
Inputs
Weighted-
 Average (1)
December 31, 2020
Derivative assets:
Equity contracts$273 
Black-Scholes option pricing model
Equity volatility
46% — 61%
53%
Liquidity discount47%47%
December 31, 2019
Derivative assets:
Equity contracts$421 
Black-Scholes option pricing model
Equity volatility
39% — 44%
42%
Liquidity discount47%47%
(1)Weighted-average is calculated based on fair value of equity warrants as of December 31, 2020 and 2019, respectively.
Schedule of the carrying and fair value estimates per the fair value hierarchy of financial instruments measured on a nonrecurring basis
The following tables present the fair value estimates for financial instruments as of December 31, 2020 and 2019, excluding financial instruments recorded at fair value on a recurring basis as they are included in the tables presented elsewhere in this Note. The carrying amounts in the following tables are recorded on the Consolidated Balance Sheet under the indicated captions, except for accrued interest receivable and mortgage servicing rights that are included in Other assets, and accrued interest payable that is included in Accrued expenses and other liabilities. These financial assets and liabilities are measured at amortized cost basis on the Company’s Consolidated Balance Sheet.
($ in thousands)December 31, 2020
Carrying
Amount		Level 1Level 2Level 3Estimated
Fair Value
Financial assets:
Cash and cash equivalents$4,017,971 $4,017,971 $— $— $4,017,971 
Interest-bearing deposits with banks$809,728 $— $809,728 $— $809,728 
Resale agreements (1)
$1,460,000 $— $1,464,635 $— $1,464,635 
Restricted equity securities, at cost$83,046 $— $83,046 $— $83,046 
Loans held-for-sale$1,788 $— $1,788 $— $1,788 
Loans held-for-investment, net$37,770,972 $— $— $37,803,940 $37,803,940 
Mortgage servicing rights$5,522 $— $— $8,435 $8,435 
Accrued interest receivable$150,140 $— $150,140 $— $150,140 
Financial liabilities:
Demand, checking, savings and money market deposits
$35,862,403 $— $35,862,403 $— $35,862,403 
Time deposits$9,000,349 $— $9,016,884 $— $9,016,884 
Short-term borrowings$21,009 $— $21,009 $— $21,009 
FHLB advances$652,612 $— $659,631 $— $659,631 
Repurchase agreements (1)
$300,000 $— $317,850 $— $317,850 
Long-term debt$147,376 $— $150,131 $— $150,131 
Accrued interest payable$11,956 $— $11,956 $— $11,956 
($ in thousands)December 31, 2019
Carrying
Amount		Level 1Level 2Level 3Estimated
Fair Value
Financial assets:
Cash and cash equivalents$3,261,149 $3,261,149 $— $— $3,261,149 
Interest-bearing deposits with banks$196,161 $— $196,161 $— $196,161 
Resale agreements (1)
$860,000 $— $856,025 $— $856,025 
Restricted equity securities, at cost$78,580 $— $78,580 $— $78,580 
Loans held-for-sale$434 $— $434 $— $434 
Loans held-for-investment, net$34,420,252 $— $— $35,021,300 $35,021,300 
Mortgage servicing rights$6,068 $— $— $8,199 $8,199 
Accrued interest receivable$144,599 $— $144,599 $— $144,599 
Financial liabilities:
Demand, checking, savings and money market deposits
$27,109,951 $— $27,109,951 $— $27,109,951 
Time deposits$10,214,308 $— $10,208,895 $— $10,208,895 
Short-term borrowings$28,669 $— $28,669 $— $28,669 
FHLB advances$745,915 $— $755,371 $— $755,371 
Repurchase agreements (1)
$200,000 $— $232,597 $— $232,597 
Long-term debt$147,101 $— $152,641 $— $152,641 
Accrued interest payable$27,246 $— $27,246 $— $27,246 
(1)Resale and repurchase agreements are reported net pursuant to ASC 210-20-45-11, Balance Sheet Offsetting: Repurchase and Reverse Repurchase Agreements. As of December 31, 2020, none of the $300.0 million of gross repurchase agreements were eligible for netting against gross resale agreements. Out of $450.0 million of gross repurchase agreements, $250.0 million were eligible for netting against gross resale agreements as of December 31, 2019.
Fair Value, Measurements, Nonrecurring  
Fair Value, Financial Assets and Liabilities Measured on Recurring and Nonrecurring Basis  
Schedule of quantitative information about significant unobservable inputs used in the valuation of level 3 fair value measurements
The following table presents the quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements that are measured on a nonrecurring basis as of December 31, 2020 and 2019:
($ in thousands)Fair Value
Measurements
(Level 3)		Valuation
Techniques		Unobservable
Inputs		Range of
Inputs
Weighted-
Average (1)
December 31, 2020
Loans held-for-investment$104,783 Discounted cash flowsDiscount
3% — 15%
11%
$22,207 Fair value of collateralDiscount
10% — 26%
15%
$15,879 Fair value of collateralContract valueNMNM
$46,993 Fair value of propertySelling cost
7% — 26%
10%
Investments in tax credit and other investments, net$3,140 Individual analysis of each investmentExpected future tax
benefits and distributions		NMNM
OREO$15,824 Fair value of propertySelling cost8%8%
December 31, 2019
Loans held-for-investment$27,841 Discounted cash flowsDiscount
4% — 15%
14%
$1,014 Fair value of collateralDiscount
8% — 20%
19%
$20,824 Fair value of collateralContract valueNMNM
Investments in tax credit and other investments, net$3,076 Individual analysis of each investmentExpected future tax
benefits and distributions		NMNM
OREO$125 Fair value of propertySelling cost8%8%
Other nonperforming assets$1,167 Fair value of collateralContract valueNMNM
NM — Not meaningful.
(1)Weighted-average of inputs is based on the relative fair value of the respective assets as of December 31, 2020 and 2019.
Schedule of carrying amounts of assets that were still held and had fair value changes measured on a nonrecurring basis
The following tables present the carrying amounts of assets that were still held and had fair value changes measured on a nonrecurring basis as of December 31, 2020 and 2019:
($ in thousands)Assets Measured at Fair Value on a Nonrecurring Basis
as of December 31, 2020
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair Value Measurements
Loans held-for-investment:
Commercial:
C&I$— $— $143,331 $143,331 
CRE:
CRE— — 42,894 42,894 
Total commercial— — 186,225 186,225 
Consumer:
Residential mortgage:
HELOCs— — 1,146 1,146 
Other consumer— — 2,491 2,491 
Total consumer— — 3,637 3,637 
Total loans held-for-investment$— $— $189,862 $189,862 
Investments in tax credit and other investments, net$— $— $3,140 $3,140 
OREO (1)
$— $— $15,824 $15,824 
($ in thousands)Assets Measured at Fair Value on a Nonrecurring Basis
as of December 31, 2019
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair Value Measurements
Loans held-for-investment:
Commercial:
C&I$— $— $47,554 $47,554 
CRE:
CRE— — 753 753 
Total commercial— — 48,307 48,307 
Consumer:
Residential mortgage:
HELOCs— — 1,372 1,372 
Total consumer— — 1,372 1,372 
Total loans held-for-investment$— $— $49,679 $49,679 
Investments in tax credit and other investments, net$— $— $3,076 $3,076 
OREO (1)
$— $— $125 $125 
Other nonperforming assets$— $— $1,167 $1,167 
(1)Amounts are included in Other assets on the Consolidated Balance Sheet and represent the carrying value of OREO properties that were written down subsequent to their initial classification as OREO.
Schedule of increase (decrease) in fair value of assets for which a nonrecurring fair value adjustment has been recognized
The following table presents the increase (decrease) in fair value of assets for which a nonrecurring fair value adjustment has been recognized for the years ended December 31, 2020, 2019 and 2018:
($ in thousands)Year Ended December 31,
202020192018
Loans held-for-investment:
Commercial:
C&I$(48,154)$(35,365)$(9,341)
CRE:
CRE(11,289)9 270 
Total commercial(59,443)(35,356)(9,071)
Consumer:
Residential mortgage:
Single-family residential— — 15 
HELOCs(175)(2)— 
Other consumer2,491 — — 
Total consumer$2,316 $(2)$15 
Total loans held-for-investment$(57,127)$(35,358)$(9,056)
Investments in tax credit and other investments, net$(3,868)$(13,023)$— 
OREO$(3,680)$(8)$— 
Other nonperforming assets$— $(3,000)$—