Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Summary of lending-related and other commitments

The following is a summary of lending-related commitments:

($ in Thousands)	2019		2018
Commitments to extend credit, excluding commitments to originate residential mortgage loans held for sale(a)(b)	$	9,024,412	$	8,720,293
Commercial letters of credit(a)	7,081		7,599
Standby letters of credit(c)	277,969		255,904

(a) These off-balance sheet financial instruments are exercisable at the market rate prevailing at the date the underlying transaction will be completed and, thus, are deemed to have no current fair value, or the fair value is based on fees currently charged to enter into similar agreements and was not material at December 31, 2019 and 2018.

(b) Interest rate lock commitments to originate residential mortgage loans held for sale are considered derivative instruments and are disclosed in Note 14.

(c) The Corporation has established a liability of $3 million and $2 million at December 31, 2019 and December 31, 2018, respectively, as an estimate of the fair value of these financial instruments.