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Securities (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Debt Securities, Available-for-sale
The following tables present the amortized cost, gross unrealized gains and losses and fair value by major categories of AFS and HTM debt securities as of March 31, 2022 and December 31, 2021:
($ in thousands)March 31, 2022
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
AFS debt securities:
U.S. Treasury securities$676,330 $64 $(38,420)$637,974 
U.S. government agency and U.S. government-sponsored enterprise debt securities326,555 119 (22,279)304,395 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities632,660 1,185 (33,522)600,323 
Residential mortgage-backed securities2,180,621 733 (112,869)2,068,485 
Municipal securities317,952 749 (20,042)298,659 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities468,203 647 (23,525)445,325 
Residential mortgage-backed securities855,502 7 (48,727)806,782 
Corporate debt securities683,502 2,107 (55,097)630,512 
Foreign government bonds260,846 635 (7,670)253,811 
Asset-backed securities72,160 — (798)71,362 
CLOs617,250 — (5,447)611,803 
Total AFS debt securities7,091,581 6,246 (368,396)6,729,431 
HTM debt securities:
U.S. Treasury securities$519,989 $— $(20,714)$499,275 
U.S. government agency and U.S. government-sponsored enterprise debt securities946,763 — (67,477)879,286 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities515,966 — (31,678)484,288 
Residential mortgage-backed securities824,713 — (44,690)780,023 
Municipal securities190,271 — (17,175)173,096 
Total HTM debt securities2,997,702 — (181,734)2,815,968 
Total debt securities$10,089,283 $6,246 $(550,130)$9,545,399 
($ in thousands)December 31, 2021
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
AFS debt securities:
U.S. Treasury securities$1,049,238 $130 $(16,687)$1,032,681 
U.S. government agency and U.S. government-sponsored enterprise debt securities1,333,984 2,697 (34,710)1,301,971 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities1,242,043 15,791 (28,854)1,228,980 
Residential mortgage-backed securities2,968,789 8,629 (49,135)2,928,283 
Municipal securities519,381 10,065 (6,288)523,158 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities498,920 3,000 (5,477)496,443 
Residential mortgage-backed securities889,937 971 (8,977)881,931 
Corporate debt securities657,516 8,738 (16,589)649,665 
Foreign government bonds260,447 767 (3,481)257,733 
Asset-backed securities74,674 185 (301)74,558 
CLOs592,250 52 (2,352)589,950 
Total AFS debt securities $10,087,179 $51,025 $(172,851)$9,965,353 
Debt Securities, Held-to-maturity
The following tables present the amortized cost, gross unrealized gains and losses and fair value by major categories of AFS and HTM debt securities as of March 31, 2022 and December 31, 2021:
($ in thousands)March 31, 2022
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
AFS debt securities:
U.S. Treasury securities$676,330 $64 $(38,420)$637,974 
U.S. government agency and U.S. government-sponsored enterprise debt securities326,555 119 (22,279)304,395 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities632,660 1,185 (33,522)600,323 
Residential mortgage-backed securities2,180,621 733 (112,869)2,068,485 
Municipal securities317,952 749 (20,042)298,659 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities468,203 647 (23,525)445,325 
Residential mortgage-backed securities855,502 7 (48,727)806,782 
Corporate debt securities683,502 2,107 (55,097)630,512 
Foreign government bonds260,846 635 (7,670)253,811 
Asset-backed securities72,160 — (798)71,362 
CLOs617,250 — (5,447)611,803 
Total AFS debt securities7,091,581 6,246 (368,396)6,729,431 
HTM debt securities:
U.S. Treasury securities$519,989 $— $(20,714)$499,275 
U.S. government agency and U.S. government-sponsored enterprise debt securities946,763 — (67,477)879,286 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities515,966 — (31,678)484,288 
Residential mortgage-backed securities824,713 — (44,690)780,023 
Municipal securities190,271 — (17,175)173,096 
Total HTM debt securities2,997,702 — (181,734)2,815,968 
Total debt securities$10,089,283 $6,246 $(550,130)$9,545,399 
($ in thousands)December 31, 2021
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
AFS debt securities:
U.S. Treasury securities$1,049,238 $130 $(16,687)$1,032,681 
U.S. government agency and U.S. government-sponsored enterprise debt securities1,333,984 2,697 (34,710)1,301,971 
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities1,242,043 15,791 (28,854)1,228,980 
Residential mortgage-backed securities2,968,789 8,629 (49,135)2,928,283 
Municipal securities519,381 10,065 (6,288)523,158 
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities498,920 3,000 (5,477)496,443 
Residential mortgage-backed securities889,937 971 (8,977)881,931 
Corporate debt securities657,516 8,738 (16,589)649,665 
Foreign government bonds260,447 767 (3,481)257,733 
Asset-backed securities74,674 185 (301)74,558 
CLOs592,250 52 (2,352)589,950 
Total AFS debt securities $10,087,179 $51,025 $(172,851)$9,965,353 
Schedule of fair value and associated gross unrealized losses of AFS debt securities
The following tables present the fair value and the associated gross unrealized losses of the Company’s AFS debt securities, aggregated by investment category and the length of time that the securities have been in a continuous unrealized loss position as of March 31, 2022 and December 31, 2021.
($ in thousands)March 31, 2022
Less Than 12 Months12 Months or MoreTotal
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
AFS debt securities:
U.S. Treasury securities$452,031 $(23,354)$162,785 $(15,066)$614,816 $(38,420)
U.S. government agency and U.S. government sponsored enterprise debt securities283,790 (21,418)13,639 (861)297,429 (22,279)
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities428,714 (22,960)94,653 (10,562)523,367 (33,522)
Residential mortgage-backed securities1,651,592 (77,331)363,817 (35,538)2,015,409 (112,869)
Municipal securities243,211 (20,042)— — 243,211 (20,042)
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities360,543 (17,424)67,676 (6,101)428,219 (23,525)
Residential mortgage-backed securities724,439 (42,033)81,681 (6,694)806,120 (48,727)
Corporate debt securities279,491 (16,008)275,912 (39,089)555,403 (55,097)
Foreign government bonds19,022 (43)77,195 (7,627)96,217 (7,670)
Asset-backed securities71,362 (798)— — 71,362 (798)
CLOs320,603 (2,647)291,200 (2,800)611,803 (5,447)
Total AFS debt securities$4,834,798 $(244,058)$1,428,558 $(124,338)$6,263,356 $(368,396)
($ in thousands)December 31, 2021
Less Than 12 Months12 Months or MoreTotal
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
AFS debt securities:
U.S. Treasury securities$935,776 $(14,689)$47,881 $(1,998)$983,657 $(16,687)
U.S. government agency and U.S. government-sponsored enterprise debt securities773,647 (18,000)402,907 (16,710)1,176,554 (34,710)
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Commercial mortgage-backed securities440,734 (13,589)257,745 (15,265)698,479 (28,854)
Residential mortgage-backed securities2,138,542 (37,691)330,522 (11,444)2,469,064 (49,135)
Municipal securities177,065 (5,682)17,003 (606)194,068 (6,288)
Non-agency mortgage-backed securities:
Commercial mortgage-backed securities301,925 (4,158)40,013 (1,319)341,938 (5,477)
Residential mortgage-backed securities707,792 (8,966)6,431 (11)714,223 (8,977)
Corporate debt securities183,916 (3,084)251,494 (13,505)435,410 (16,589)
Foreign government bonds27,097 (5)133,279 (3,476)160,376 (3,481)
Asset-backed securities24,885 (301)— — 24,885 (301)
CLOs221,586 (64)291,712 (2,288)513,298 (2,352)
Total AFS debt securities$5,932,965 $(106,229)$1,778,987 $(66,622)$7,711,952 $(172,851)
Schedule of the gross realized gains and tax expense related to the sales of AFS debt securities
The following table presents the gross realized gains and tax expense related to the sales of AFS debt securities for the three months ended March 31, 2022 and 2021:
($ in thousands)Three Months Ended March 31,
20222021
Gross realized gains$1,278 $192 
Related tax expense$378 $57 
Schedule of contractual maturities and weighted average yields of AFS and HTM debt securities
The following tables present the contractual maturities, amortized cost, fair value and weighted average yields of AFS and HTM debt securities as of March 31, 2022. Expected maturities will differ from contractual maturities on certain securities as the issuers and borrowers of the underlying collateral may have the right to call or prepay obligations with or without prepayment penalties.
($ in thousands)Within One Year
After One Year through Five Years
After Five Years through Ten Years After Ten Years Total
AFS debt securities:
U.S. Treasury securities
Amortized cost$— $576,650 $99,680 $— $676,330 
Fair value— 547,431 90,543 — 637,974 
Weighted-average yield (1)
— %1.28 %0.74 %— %1.20 %
U.S. government agency and U.S. government-sponsored enterprise debt securities
Amortized cost— 29,199 125,000 172,356 326,555 
Fair value— 27,969 115,734 160,692 304,395 
Weighted-average yield (1)
— %1.64 %1.16 %2.09 %1.70 %
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities:
Amortized cost— 12,508 190,547 2,610,226 2,813,281 
Fair value— 12,538 185,605 2,470,665 2,668,808 
Weighted-average yield (1)
— %3.08 %2.62 %1.78 %1.85 %
Municipal securities
Amortized cost1,841 36,444 18,691 260,976 317,952 
Fair value1,844 35,640 18,174 243,001 298,659 
Weighted-average yield (1) (2)
2.72 %2.41 %2.60 %2.23 %2.28 %
Non-agency mortgage-backed securities
Amortized cost10,807 202,260 45,103 1,065,535 1,323,705 
Fair value10,798 198,659 44,661 997,989 1,252,107 
Weighted-average yield (1)
3.07 %3.25 %1.16 %2.00 %2.17 %
Corporate debt securities
Amortized cost— 10,000 331,502 342,000 683,502 
Fair value— 9,848 322,115 298,549 630,512 
Weighted average yield (1)
— %1.55 %3.67 %2.05 %2.83 %
Foreign government bonds
Amortized cost113,979 46,867 50,000 50,000 260,846 
Fair value113,864 47,315 50,131 42,501 253,811 
Weighted-average yield (1)
1.88 %3.01 %0.42 %1.50 %1.73 %
Asset-backed securities:
Amortized cost— — — 72,160 72,160 
Fair value— — — 71,362 71,362 
Weighted-average yield (1)
— %— %— %1.50 %1.50 %
CLOs
Amortized cost— — — 617,250 617,250 
Fair value— — — 611,803 611,803 
Weighted average yield (1)
— %— %— %1.41 %1.41 %
Total AFS debt securities
Amortized cost$126,627 $913,928 $860,523 $5,190,503 $7,091,581 
Fair value$126,506 $879,400 $826,963 $4,896,562 $6,729,431 
Weighted-average yield (1)
1.99 %1.89 %2.39 %1.83 %1.91 %
($ in thousands)Within One Year
After One Year through Five Years
After Five Years through Ten YearsAfter Ten YearsTotal
HTM debt securities:
U.S. Treasury securities
Amortized cost$—$24,415$495,574$—$519,989
Fair value—23,492475,783—499,275
Weighted-average yield (1)
— %0.76 %1.06 %— %1.05 %
U.S. government agency and U.S. government-sponsored enterprise debt securities
Amortized cost——162,903783,860946,763
Fair value——153,074726,212879,286
Weighted-average yield (1)
— %— %1.43 %1.86 %1.79 %
U.S. government agency and U.S. government-sponsored enterprise mortgage-backed securities
Amortized cost——88,1141,252,5651,340,679
Fair value——83,8161,180,4951,264,311
Weighted-average yield (1)
— %— %1.61 %1.62 %1.62 %
Municipal securities
Amortized cost———190,271190,271
Fair value———173,096173,096
Weighted-average yield (1) (2)
— %— %— %1.97 %1.97 %
Total HTM debt securities
Amortized cost$—$24,415$746,591$2,226,696$2,997,702
Fair value$—$23,492$712,673$2,079,803$2,815,968
Weighted-average yield (1)
— %0.76 %1.21 %1.73 %1.59 %
(1)Weighted-average yields are computed based on amortized cost balances.
(2)Yields on tax-exempt securities are not presented on a tax-equivalent basis.
Schedule of restricted equity securities
The following table presents the restricted equity securities included in Other assets on the Consolidated Balance Sheet as of March 31, 2022 and December 31, 2021:
($ in thousands)March 31, 2022December 31, 2021
Federal Reserve Bank of San Francisco (“FRBSF”) stock$60,432 $60,184 
FHLB stock17,250 17,250 
Total restricted equity securities$77,682 $77,434