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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Balances of Assets and Liabilities Measured at Fair Value on a Recurring and Non-recurring Basis
The balances of assets and liabilities measured at fair value on a recurring basis were as follows:
December 31, 2020
(In thousands)Level 1Level 2Level 3Total
Assets
Investment securities available-for-sale$— $8,284,219 $504 $8,284,723 
Loans held-for-sale— 221,784 — 221,784 
Interest-only strips— — 7,823 7,823 
Derivative assets:(1)
Interest rate contracts— 248,267 — 248,267 
Risk participation agreements— 62 — 62 
Forward foreign exchange contracts— 11 — 11 
Interest rate lock commitments— 14,565 — 14,565 
   Forward loan sales commitments— 37 — 37 
Power Equity CDs— 459 — 459 
Total derivative assets— 263,401 — 263,401 
Assets held in trust for deferred compensation plans48,659 — — 48,659 
Total assets at fair value$48,659 $8,769,404 $8,327 $8,826,390 
Liabilities
Derivative liabilities:(1)
Interest rate contracts$— $14,681 $— $14,681 
Risk participation agreements— 125 — 125 
Forward foreign exchange contracts— 2,386 — 2,386 
Interest rate lock commitments— 4 — 4 
   Forward loan sales commitments— 3,411 — 3,411 
Power Equity CDs— 459 — 459 
Swap agreement— — 66 66 
Total derivative liabilities— 21,066 66 21,132 
Liabilities held in trust for deferred compensation plans48,659 — — 48,659 
Total liabilities at fair value$48,659 $21,066 $66 $69,791 
(1)As permitted under GAAP, the Corporation has elected to net derivative assets and derivative liabilities when a legally enforceable master netting agreement exists as well as the related cash collateral received and paid. For purposes of this table, the derivative assets and derivative liabilities are presented gross of this netting adjustment.
December 31, 2019
(In thousands)Level 1Level 2Level 3Total
Assets
Investment securities available-for-sale$— $6,719,568 $433 $6,720,001 
Loans held-for-sale— 91,202 — 91,202 
Interest-only strips— — 12,813 12,813 
Derivative assets:(1)
Interest rate contracts— 102,893 — 102,893 
Risk participation agreements— 202 — 202 
Interest rate lock commitments— 2,772 — 2,772 
Forward loan sales commitments— 41 — 41 
Power Equity CDs— 734 — 734 
Total derivative assets— 106,642 — 106,642 
Forward loan sales commitments, non-derivative— 46 — 46 
Assets held in trust for deferred compensation plans43,743 — — 43,743 
Total assets at fair value$43,743 $6,917,458 $13,246 $6,974,447 
Liabilities
Derivative liabilities:(1)
Interest rate contracts$— $6,040 $— $6,040 
Risk participation agreements— 354 — 354 
Forward foreign exchange contracts— 6,519 — 6,519 
Interest rate lock commitments— 20 — 20 
Forward loan sales commitments— 289 — 289 
Power Equity CDs— 734 — 734 
Swap agreement— — 356 356 
Total derivative liabilities— 13,956 356 14,312 
Liabilities held in trust for deferred compensation plans43,743 — — 43,743 
Total liabilities at fair value$43,743 $13,956 $356 $58,055 
(1)As permitted under GAAP, the Corporation has elected to net derivative assets and derivative liabilities when a legally enforceable master netting agreement exists as well as the related cash collateral received and paid. For purposes of this table, the derivative assets and derivative liabilities are presented gross of this netting adjustment.
Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis
The changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:
(In thousands)Investment securities available-for-saleLoans
held-for-sale		Interest-only stripsInterest rate lock commitmentsSwap agreementForward loan sales commitments
Asset (liability) balance, December 31, 2017$6 $3,356 $21,386 $223 $(615)$63 
Total net gains (losses) included in:
Net income— 454 2,616 401 (274)(89)
Other comprehensive income (loss)— — 1,195 — — — 
Sales— (332,288)— — — — 
Originations— 346,560 4,797 — — — 
Principal paydowns / settlements(2)(12)(13,159)— 306 — 
Asset (liability) balance, December 31, 2018$4 $18,070 $16,835 $624 $(583)$(26)
Unrealized gains (losses) included in other comprehensive income for assets held at the end of the period— — 1,195 — — — 
Asset (liability) balance, beginning of period$4 $18,070 $16,835 $624 $(583)$(26)
Total net gains (losses) included in:
Net income1 534 2,568 778 (68)(119)
Other comprehensive income (loss)(21)— (262)— — — 
Acquired450 — — — — — 
Sales— (164,693)— — — — 
Originations— 175,304 2,789 — — — 
Principal paydowns / settlements(1)(4)(9,117)— 295 — 
Transfers out of Level 3 (1)
— (29,211)— (1,402)— 145 
Asset (liability) balance, December 31, 2019$433 $— $12,813 $— $(356)$— 
Unrealized gains (losses) included in other comprehensive income for assets held at the end of the period$(21)$— $(262)$— $— $— 
Asset (liability) balance, beginning of period$433 $— $12,813 $— $(356)$— 
Total net gains (losses) included in:
Net income3 — 1,009 — (1)— 
Other comprehensive income (loss)68 — (242)— — — 
Acquired— — — — — — 
Sales— — — — — — 
Originations— — — — — — 
Principal paydowns / settlements— — (5,757)— 291 — 
Transfers out of Level 3 (1)
— — — — — — 
Asset (liability) balance, December 31, 2020$504 $— $7,823 $— $(66)$— 
Unrealized gains (losses) included in other comprehensive income for assets held at the end of the period$68 $— $(242)$— $— $— 
(1)Certain assets (liabilities) previously classified as Level 3 were transferred to Level 2 because current period prices are derived from Level 2 observable market data.
Schedule of Differences Between the Aggregate Fair Value and Aggregate Unpaid Principal Balance on Loans Held for Sale
The balances of assets measured at fair value on a non-recurring basis were as follows. There were no liabilities measured at fair value on a non-recurring basis at December 31, 2020 and December 31, 2019.
(In thousands)Level 1Level 2Level 3Total
At December 31, 2020
Loans and leases$— $— $592,133 $592,133 
Loan servicing rights— — 38,303 38,303 
Other real estate owned— — 14,575 14,575 
Repossessed and returned assets— 7,332 — 7,332 
Total non-recurring fair value measurements$— $7,332 $645,011 $652,343 
At December 31, 2019
Loans and leases$— $— $141,199 $141,199 
Loan servicing rights— — 56,298 56,298 
Other real estate owned— — 17,577 17,577 
Repossessed and returned assets— 6,968 — 6,968 
Total non-recurring fair value measurements$— $6,968 $215,074 $222,042 
The difference between the aggregate fair value and aggregate unpaid principal balance of these loans held-for-sale was as follows:
At December 31,
(In thousands)20202019
Fair value carrying amount$221,784 $91,202 
Aggregate unpaid principal amount210,311 88,192 
Fair value carrying amount less aggregate unpaid principal$11,473 $3,010 
Fair Value of Assets and Liabilities, Including Hierarchy Level
At December 31, 2020
CarryingEstimated Fair Value
(In thousands)AmountLevel 1 Level 2 Level 3 Total
Financial instrument assets
FHLB and FRB stocks$320,436 $— $320,436 $— $320,436 
Investment securities held-to-maturity184,359 — 190,141 3,413 193,554 
Loans and leases held-for-sale244 — — 248 248 
Net loans(1)
31,164,287 — — 31,434,749 31,434,749 
Securitization receivable(2)
19,949 — — 19,916 19,916 
Deferred fees on commitments to extend credit20,002 — 20,002 — 20,002 
Total financial instrument assets$31,709,277 $— $530,579 $31,458,326 $31,988,905 
Financial instrument liabilities
Certificates of deposits$5,524,381 $— $5,534,751 $— $5,534,751 
Long-term borrowings1,374,732 — 1,416,355 — 1,416,355 
Total financial instrument liabilities$6,899,113 $— $6,951,106 $— $6,951,106 
At December 31, 2019
Carrying Estimated Fair Value
(In thousands)  AmountLevel 1 Level 2 Level 3 Total
Financial instrument assets
FHLB and FRB stocks$442,440 $— $442,440 $— $442,440 
Investment securities held-to-maturity139,445 — 141,168 3,676 144,844 
Loans held-for-sale108,584 — 110,252 2,273 112,525 
Net loans(1)
31,699,285 — — 31,804,513 31,804,513 
Securitization receivable(2)
19,689 — — 19,466 19,466 
Deferred fees on commitments to extend credit(2)
19,300 — 19,300 — 19,300 
Total financial instrument assets$32,428,743 $— $713,160 $31,829,928 $32,543,088 
Financial instrument liabilities
Certificates of deposits$7,455,556 $— $7,460,577 $— $7,460,577 
Long-term borrowings2,354,448 — 2,368,469 — 2,368,469 
Deferred fees on standby letters of credit(3)
56 — 56 — 56 
Total financial instrument liabilities$9,810,060 $— $9,829,102 $— $9,829,102 
(1)Expected credit losses are included in the carrying amount and estimated fair values.
(2)Carrying amounts is included in other assets.
(3)Carrying amounts are included in other liabilities.