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Fair Value Measurement and Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2022
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 March 31, 2022 and December 31, 2021:
($ in thousands)Assets and Liabilities Measured at Fair Value on a Recurring Basis
as of March 31, 2022
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$637,974 $— $— $637,974 
U.S. government agency and U.S. government-sponsored enterprise debt securities— 304,395 — 304,395 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities— 600,323 — 600,323 
Residential mortgage-backed securities— 2,068,485 — 2,068,485 
Municipal securities— 298,659 — 298,659 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— 445,325 — 445,325 
Residential mortgage-backed securities— 806,782 — 806,782 
Corporate debt securities— 630,512 — 630,512 
Foreign government bonds— 253,811 — 253,811 
Asset-backed securities— 71,362 — 71,362 
Collateralized loan obligations (“CLOs”)— 611,803 — 611,803 
Total AFS debt securities
$637,974 $6,091,457 $— $6,729,431 
Investments in tax credit and other investments:
Equity securities$21,137 $4,357 $— $25,494 
Total investments in tax credit and other investments
$21,137 $4,357 $— $25,494 
Derivative assets:
Interest rate contracts$— $188,101 $— $188,101 
Foreign exchange contracts— 16,122 — 16,122 
Equity contracts— 5 309 314 
Commodity contracts— 484,563 — 484,563 
Gross derivative assets$— $688,791 $309 $689,100 
Netting adjustments (1)
$— $(190,316)$— $(190,316)
Net derivative assets$— $498,475 $309 $498,784 
Derivative liabilities:
Interest rate contracts$— $236,569 $— $236,569 
Foreign exchange contracts— 12,035 — 12,035 
Credit contracts— 67 — 67 
Commodity contracts— 443,358 — 443,358 
Gross derivative liabilities$— $692,029 $— $692,029 
Netting adjustments (1)
$— $(435,081)$— $(435,081)
Net derivative liabilities$— $256,948 $— $256,948 
($ in thousands)Assets and Liabilities Measured at Fair Value on a Recurring Basis
as of December 31, 2021
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$1,032,681 $— $— $1,032,681 
U.S. government agency and U.S. government-sponsored enterprise debt securities— 1,301,971 — 1,301,971 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities— 1,228,980 — 1,228,980 
Residential mortgage-backed securities— 2,928,283 — 2,928,283 
Municipal securities— 523,158 — 523,158 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities— 496,443 — 496,443 
Residential mortgage-backed securities— 881,931 — 881,931 
Corporate debt securities— 649,665 — 649,665 
Foreign government bonds— 257,733 — 257,733 
Asset-backed securities— 74,558 — 74,558 
CLOs— 589,950 — 589,950 
Total AFS debt securities
$1,032,681 $8,932,672 $— $9,965,353 
Investments in tax credit and other investments:
Equity securities$22,130 $4,474 $— $26,604 
Total investments in tax credit and other investments
$22,130 $4,474 $— $26,604 
Derivative assets:
Interest rate contracts$— $240,222 $— $240,222 
Foreign exchange contracts— 21,033 — 21,033 
Equity contracts— 5 215 220 
Commodity contracts— 222,709 — 222,709 
Gross derivative assets$— $483,969 $215 $484,184 
Netting adjustments (1)
$— $(100,953)$— $(100,953)
Net derivative assets$— $383,016 $215 $383,231 
Derivative liabilities:
Interest rate contracts$— $179,962 $— $179,962 
Foreign exchange contracts— 15,501 — 15,501 
Credit contracts— 141 — 141 
Commodity contracts— 194,567 — 194,567 
Gross derivative liabilities$— $390,171 $— $390,171 
Netting adjustments (1)
$— $(232,727)$— $(232,727)
Net derivative liabilities$— $157,444 $— $157,444 
(1)Represents balance sheet netting of derivative assets and liabilities and related cash collateral under master netting agreements or similar agreements. See Note 6 — Derivatives to the Consolidated Financial Statements in this Form 10-Q for additional information.
Schedule of the carrying and fair value estimates per the fair value hierarchy of financial instruments measured on a nonrecurring basis
The following tables present the fair value estimates for financial instruments as of March 31, 2022 and December 31, 2021, excluding financial instruments recorded at fair value on a recurring basis as they are included in the tables presented elsewhere in this Note. The carrying amounts in the following tables are recorded on the Consolidated Balance Sheet under the indicated captions, except for accrued interest receivable, restricted equity securities, at cost, and mortgage servicing rights that are included in Other assets, and accrued interest payable which is included in Accrued expenses and other liabilities. These financial assets and liabilities are measured on an amortized cost basis on the Company’s Consolidated Balance Sheet.
($ in thousands)March 31, 2022
Carrying
Amount		Level 1Level 2Level 3Estimated
Fair Value
Financial assets:
Cash and cash equivalents$3,848,700 $3,848,700 $— $— $3,848,700 
Interest-bearing deposits with banks$816,125 $— $816,125 $— $816,125 
Resale agreements$1,956,822 $— $1,906,530 $— $1,906,530 
HTM debt securities$2,997,702 $499,275 $2,316,693 $— $2,815,968 
Restricted equity securities, at cost$77,682 $— $77,682 $— $77,682 
Loans held-for-sale$631 $— $631 $— $631 
Loans held-for-investment, net$42,944,997 $— $— $42,698,185 $42,698,185 
Mortgage servicing rights$5,927 $— $— $9,853 $9,853 
Accrued interest receivable$155,730 $— $155,730 $— $155,730 
Financial liabilities:
Demand, checking, savings and money market deposits$46,708,274 $— $46,708,274 $— $46,708,274 
Time deposits$8,230,087 $— $8,202,829 $— $8,202,829 
FHLB advances$74,619 $— $75,265 $— $75,265 
Repurchase agreements$300,000 $— $309,225 $— $309,225 
Long-term debt$147,729 $— $148,298 $— $148,298 
Accrued interest payable$6,970 $— $6,970 $— $6,970 
($ in thousands)December 31, 2021
Carrying
Amount		Level 1Level 2Level 3Estimated
Fair Value
Financial assets:
Cash and cash equivalents$3,912,935 $3,912,935 $— $— $3,912,935 
Interest-bearing deposits with banks$736,492 $— $736,492 $— $736,492 
Resale agreements$2,353,503 $— $2,335,901 $— $2,335,901 
Restricted equity securities, at cost$77,434 $— $77,434 $— $77,434 
Loans held-for-sale$635 $— $635 $— $635 
Loans held-for-investment, net$41,152,202 $— $— $41,199,599 $41,199,599 
Mortgage servicing rights$5,706 $— $— $9,104 $9,104 
Accrued interest receivable$159,833 $— $159,833 $— $159,833 
Financial liabilities:
Demand, checking, savings and money market deposits$45,388,550 $— $45,388,550 $— $45,388,550 
Time deposits$7,961,982 $— $7,966,116 $— $7,966,116 
FHLB advances$249,331 $— $250,372 $— $250,372 
Repurchase agreements$300,000 $— $310,525 $— $310,525 
Long-term debt$147,658 $— $151,020 $— $151,020 
Accrued interest payable$11,435 $— $11,435 $— $11,435 
Fair Value, Measurements, Recurring  
Fair Value, Financial Assets and Liabilities Measured on Recurring and Nonrecurring Basis  
Reconciliation of the beginning and ending balances for equity warrants measured at fair value on a recurring basis using significant unobservable inputs (Level 3) The following table provides a reconciliation of the beginning and ending balances of these equity contracts for the three months ended March 31, 2022 and 2021:
($ in thousands)Three Months Ended March 31,
20222021
Equity contracts
Beginning balance$215 $273 
Total gains (losses) included in earnings (1)
3 (1)
Issuances91 — 
Ending balance$309 $272 
(1)Includes unrealized gains (losses) recorded in Lending fees on the Consolidated Statement of Income.
Schedule of quantitative information about significant unobservable inputs used in the valuation of Level 3 fair value measurements
The following table presents quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements as of March 31, 2022 and December 31, 2021. The significant unobservable inputs presented in the table below are those that the Company considers significant to the fair value of the Level 3 assets. The Company considers unobservable inputs to be significant if, by their exclusion, the fair value of the Level 3 assets would be impacted by a predetermined percentage change.
($ in thousands)Fair Value
Measurements
(Level 3)		Valuation
Technique		Unobservable
Inputs		Range of Inputs
Weighted-
Average of Inputs (1)
March 31, 2022
Derivative assets:
Equity contracts$309 
Black-Scholes option pricing model
Equity volatility
41% — 57%
48%
Liquidity discount47%47%
December 31, 2021
Derivative assets:
Equity contracts$215 
Black-Scholes option pricing model
Equity volatility
44% — 54%
49%
Liquidity discount47%47%
(1)Weighted-average of inputs is calculated based on the fair value of equity contracts as of March 31, 2022 and December 31, 2021.
Fair Value, Measurements, Nonrecurring  
Fair Value, Financial Assets and Liabilities Measured on Recurring and Nonrecurring Basis  
Schedule of quantitative information about significant unobservable inputs used in the valuation of Level 3 fair value measurements
The following table presents the quantitative information about the significant unobservable inputs used in the valuation of Level 3 fair value measurements that are measured on a nonrecurring basis as of March 31, 2022 and December 31, 2021:
($ in thousands)Fair Value
Measurements
(Level 3)		Valuation
Techniques		Unobservable
Inputs		Range of 
Inputs
Weighted-
Average of Inputs (1)
March 31, 2022
Loans held-for-investment$44,881 Discounted cash flowsDiscount
4% — 6%
4%
$34,570 Fair value of collateralDiscount
15% — 77%
30%
$24,186 Fair value of propertySelling cost
8%
8%
December 31, 2021
Loans held-for-investment$64,919 Discounted cash flowsDiscount
4% — 15%
7%
$38,537 Fair value of collateralDiscount
15% — 75%
41%
$23,528 Fair value of propertySelling cost
8%
8%
(1)Weighted-average of inputs is based on the relative fair value of the respective assets as of March 31, 2022 and December 31, 2021.
Schedule of carrying amounts of assets that were still held and had fair value changes measured on a nonrecurring basis
The following tables present the carrying amounts of assets that were still held and had fair value adjustments measured on a nonrecurring basis as of March 31, 2022 and December 31, 2021:
($ in thousands)Assets Measured at Fair Value on a Nonrecurring Basis
as of March 31, 2022
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:
Commercial and industrial (“C&I”)$— $— $78,354 $78,354 
Commercial real estate (“CRE”):
CRE— — 24,186 24,186 
Total commercial— — 102,540 102,540 
Consumer:
Residential mortgage:
Home equity lines of credit (“HELOCs”)— — 1,097 1,097 
Total consumer— — 1,097 1,097 
Total loans held-for-investment$— $— $103,637 $103,637 
($ in thousands)Assets Measured at Fair Value on a Nonrecurring Basis
as of December 31, 2021
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$— $— $102,349 $102,349 
CRE:
CRE— — 21,891 21,891 
Total commercial— — 124,240 124,240 
Consumer:
Residential mortgage:
HELOCs— — 2,744 2,744 
Total consumer— — 2,744 2,744 
Total loans held-for-investment$— $— $126,984 $126,984 
Other nonperforming assets$391 $— $— $391 
Schedule of increase (decrease) in fair value of assets for which a fair value adjustment has been recognized, nonrecurring basis
The following table presents the increase (decrease) in fair value of certain assets held at the end of the respective reporting periods, for which a nonrecurring fair value adjustment was recognized for the three months ended March 31, 2022 and 2021:
($ in thousands)Three Months Ended March 31,
20222021
Loans held-for-investment:
Commercial:
C&I$(10,424)$(5,309)
CRE:
CRE2,864 (7,062)
Multifamily residential— (16)
Construction and land— (71)
Total commercial(7,560)(12,458)
Consumer:
Residential mortgage:
HELOCs3 (37)
Total consumer3 (37)
Total loans held-for-investment$(7,557)$(12,495)
Other nonperforming assets$— $(3,890)