Derivatives (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Financial Instruments

Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the notional or contractual amounts and fair values of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets at December 31, 2022 and 2021.

		December 31, 2022								December 31, 2021
				Derivative (1)								Derivative (1)
($ in thousands)	Type of Hedge	Notional or Contractual Amount		Assets			Liabilities			Notional or Contractual Amount		Assets			Liabilities
Derivatives designated as hedging instruments:
Interest rate swaps - variable rate loans	Cash Flow	$	2,100,000	$	2,301		$	112,262		$	1,125,000	$	5,884		$	4,421
Interest rate swaps - securities	Fair Value		716,000		43,501			—			1,837,650		22,138			10,690
		$	2,816,000	$	45,802		$	112,262		$	2,962,650	$	28,022		$	15,111
Derivatives not designated as hedging instruments:
Interest rate swaps	N/A	$	4,620,544	$	172,242		$	169,712		$	5,193,991	$	75,819		$	75,861
Risk participation agreements	N/A		298,729		1			13			217,437		11			35
Forward commitments to sell residential mortgage loans	N/A		10,930		8			113			46,739		1			645
Interest rate-lock commitments on residential mortgage loans	N/A		13,819		161			8			82,037		1,525			1
To Be Announced (TBA) securities	N/A		10,000		78			7			55,000		15			53
Foreign exchange forward contracts	N/A		123,106		1,643			1,594			48,364		778			758
Visa Class B derivative contract	N/A		43,111		—			1,883			43,439		—			4,116
		$	5,120,239	$	174,133		$	173,330		$	5,687,007	$	78,149		$	81,469
Total derivatives		$	7,936,239	$	219,935		$	285,592		$	8,649,657	$	106,171		$	96,580
Less: netting adjustments (2)					(110,438	)		(81,471	)				(30,304	)		(61,534	)
Total derivate assets/liabilities				$	109,497		$	204,121				$	75,867		$	35,046

(1) Derivative assets and liabilities are reported in other assets or other liabilities, respectively, in the consolidated balance sheets.

(2) Represents balance sheet netting of derivative assets and liabilities for variation margin collateral held or placed with the same central clearing counterparty. See offsetting assets and liabilities for further information.

Effects of Derivative Instruments on the Statement of Income

The effects of derivative instruments on the Consolidated Statements of Income for the years ended December 31, 2022, 2021, and 2020 are presented in the table below.

		Years Ended December 31,
($ in thousands) Derivative Instruments:	Location of Gain (Loss) Recognized in the Statements of Income:	2022		2021			2020
Cash flow hedges:
Variable rate loans	Interest income - loans	$	9,928	$	26,674		$	17,351
Fair value hedges:
Securities	Interest income - securities - taxable		4,963		(640	)		8
Securities - termination	Noninterest income - securities transactions, net		1,620		2,499			—
Brokered deposits	Interest expense - deposits		—		—			46
Derivatives not designated as hedging:
Residential mortgage banking	Noninterest income - secondary mortgage market operations		2,918		1,568			—
Customer and all other instruments	Noninterest income - other noninterest income		5,832		13,477			12,814
Total gain		$	25,261	$	43,578		$	30,219

Offsetting Derivative Assets and Liabilities Subject to Master Netting Arrangements

Offsetting information in regards to all derivative assets and liabilities, including accrued interest subject to these master netting agreements at December 31, 2022 and 2021 is presented in the following tables:

As of December 31, 2022
			Gross Amounts Offset in the			Net Amounts Presented in the		Gross Amounts Not Offset in the Statement of Financial Position
($ in thousands)	Gross Amounts Recognized		Statement of Financial Position			Statement of Financial Position		Financial Instruments		Cash Collateral		Net Amount
Derivative Assets	$	223,072	$	(112,338	)	$	110,734	$	32,601	$	27,852	$	105,985
Derivative Liabilities	$	116,395	$	(83,794	)	$	32,601	$	32,601	$	—	$	—

As of December 31, 2021
			Gross Amounts Offset in the			Net Amounts Presented in the		Gross Amounts Not Offset in the Statement of Financial Position
($ in thousands)	Gross Amounts Recognized		Statement of Financial Position			Statement of Financial Position		Financial Instruments		Cash Collateral		Net Amount
Derivative Assets	$	36,790	$	(29,882	)	$	6,908	$	6,908	$	—	$	—
Derivative Liabilities	$	85,448	$	(63,204	)	$	22,244	$	6,908	$	66,207	$	(50,871	)