Derivative and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary Of Other derivative instruments not designated as hedging instruments

The following table presents the total notional amounts and gross fair values of the Company’s derivatives, as well as the balance sheet netting adjustments as of September 30, 2020 and December 31, 2019. The derivative assets and liabilities are presented on a gross basis prior to the application of bilateral collateral and master netting agreements, but after the variation margin payments with central clearing organizations have been applied as settlement, as applicable. Total derivative assets and liabilities are adjusted to take into consideration the effects of legally enforceable master netting agreements and cash collateral received or paid as of September 30, 2020 and December 31, 2019. The resulting net derivative asset and liability fair values are included in other assets and accrued expenses and other liabilities, respectively, on the consolidated balance sheets.

	September 30, 2020								December 31, 2019
	Asset				Liability				Asset				Liability
($ in Thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Not designated as hedging instruments
Interest rate-related instruments	$	3,731,752	$	225,912	$	3,731,752	$	28,960	$	3,029,877	$	77,024	$	3,029,877	$	13,073
Foreign currency exchange forwards	431,862		4,710		422,645		4,563		272,636		4,226		264,653		4,048
Commodity contracts	132,055		25,935		127,597		24,476		255,089		20,528		255,165		19,624
Mortgage banking(a)(b)	171,871		7,888		264,000		—		255,291		2,527		263,000		710
Gross derivatives before netting			$	264,445			$	57,999			$	104,305			$	37,455
Less: Legally enforceable master netting agreements			2,524				2,524				10,410				10,410
Less: Cash collateral pledged/received			24,837				28,363				1,408				11,365
Total derivative instruments, after netting			$	237,084			$	27,112			$	92,487			$	15,680

(a) Mortgage derivative assets include interest rate lock commitments and mortgage derivative liabilities include forward commitments.

(b) Includes $108 thousand forward commitment fair value.

Schedule of cash flow hedging instruments, statements of financial performance and financial position location

The table below identifies the effect of fair value hedge accounting on the Corporation's consolidated statements of income for the three and nine months ended September 30, 2020 and 2019:

	Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
	Three Months Ended September 30,								Nine Months Ended September 30,
	2020				2019				2020				2019
($ in Thousands)	Interest Income		Other Income (Expense)		Interest Income		Other Income (Expense)		Interest Income		Other Income (Expense)		Interest Income		Other Income (Expense)
Total amounts of income and expense line items presented on the consolidated statements of income in which the effects of the fair value hedge is recorded	$	(481)	$	—	$	(59)	$	—	$	(1,345)	$	(262)	$	160	$	—
The effects of fair value hedging: Gain or (loss) on fair value hedging relationships in Subtopic 815-20
Interest contracts
Hedged items	(481)		—		452		—		(1,345)		(262)		6,674		—
Derivatives designated as hedging instruments(a)	—		—		(511)		—		—		—		(6,514)		—

(a) Includes net settlements on the derivatives.

Gain (loss) on derivative instruments not designated as hedging instruments

The table below identifies the effect of derivatives not designated as hedging instruments on the Corporation's consolidated statements of income for the three and nine months ended September 30, 2020 and 2019:

	Consolidated Statements of Income Category of Gain / (Loss)  Recognized in Income	Three Months Ended September 30,				Nine Months Ended September 30,
($ in Thousands)		2020		2019		2020		2019
Derivative Instruments
Interest rate-related instruments — customer and mirror, net	Capital markets, net	$	507	$	(619)	$	(2,648)	$	(2,309)
Foreign currency exchange forwards	Capital markets, net	49		72		(31)		284
Commodity contracts	Capital markets, net	(86)		208		555		(2,037)
Interest rate lock commitments (mortgage)	Mortgage banking, net	(4,948)		(2,851)		5,361		(191)
Forward commitments (mortgage)	Mortgage banking, net	1,293		1,313		710		1,482