Derivative and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2022

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 Corporation’s derivatives, as well as the balance sheet netting adjustments as of September 30, 2022 and December 31, 2021. 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, 2022 and December 31, 2021. 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.

	Sep 30, 2022								Dec 31, 2021
	Asset				Liability				Asset				Liability
($ in Thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Designated as hedging instruments
Interest rate-related instruments	$	—	$	—	$	850,000	$	906	$	—	$	—	$	—	$	—
Not designated as hedging instruments
Interest rate-related and other instruments	4,250,397		59,618		4,535,166		264,212		3,874,781		83,626		3,874,781		26,231
Foreign currency exchange forwards	482,983		10,109		458,140		9,524		490,057		5,490		478,745		5,441
Commodity contracts	—		—		—		—		3,894		1,264		3,910		1,248
Mortgage banking(a)(b)	41,327		3,492		88,000		403		133,990		2,647		245,016		—
Total not designated as hedging instruments			73,218				274,139				93,026				32,921
Gross derivatives before netting			73,218				275,045				93,026				32,921
Less: Legally enforceable master netting agreements			869				869				2,143				2,143
Less: Cash collateral pledged/received			63,699				—				1,313				11,357
Total derivative instruments, after netting			$	8,650			$	274,176			$	89,570			$	19,421

(a) The notional amount of the mortgage derivative asset includes interest rate lock commitments, while the notional amount of the mortgage derivative liability includes forward commitments.
(b) At September 30, 2022, the mortgage derivative asset includes approximately $3 million of forward commitments fair value, while the mortgage derivative liability includes approximately $403,000 of interest rate lock commitments fair value. At December 31, 2021, the mortgage derivative asset included approximately $30,000 of forward commitments fair value.

Balance Sheet Recording of Fair Value Hedge [Table]

The following table presents amounts that were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges:

	Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included
	Carrying Amount of the Hedged Assets/(Liabilities)		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
($ in Thousands)	September 30, 2022
Other long-term funding	$	(249,611)	$	389
FHLB Advances	(585,686)		14,314
Total	$	(835,297)	$	14,703

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, 2022 and 2021:

	Location and Amount Recognized on the Consolidated Statements of Income in Fair Value and Cash Flow Hedging Relationships
	Three months ended Sep 30,						Nine Months Ended Sep 30,
	2022				2021		2022				2021
($ in Thousands)	Interest Income		Interest Expense		Interest Income		Interest Income		Interest Expense		Interest Income
Total amounts of income presented on the consolidated statements of income in which the effects of the fair value hedge are recorded	$	(120)	$	(380)	$	(292)	$	(428)	$	(380)	$	(1,128)
The effects of fair value hedging: Impact on fair value hedging relationships in Subtopic 815-20
Interest contracts
Hedged items	(120)		(14,703)		(292)		(428)		(14,703)		(1,128)
Derivatives designated as hedging instruments(a)	—		14,323		—		—		14,323		—

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, 2022 and 2021:

	Consolidated Statements of Income Category of Gain / (Loss)  Recognized in Income	Three Months Ended Sep 30,				Nine Months Ended Sep 30,
($ in Thousands)		2022		2021		2022		2021
Derivative Instruments
Interest rate-related and other instruments — customer and mirror, net	Capital markets, net	$	(33)	$	557	$	548	$	2,546
Interest rate-related instruments — MSRs hedge	Mortgage banking, net	(3,547)		—		(12,559)		—
Foreign currency exchange forwards	Capital markets, net	159		(8)		536		109
Commodity contracts	Capital markets, net	—		(124)		(16)		(1,256)
Interest rate lock commitments (mortgage)	Mortgage banking, net	(1,389)		(1,356)		(3,020)		(4,438)
Forward commitments (mortgage)	Mortgage banking, net	3,543		1,402		3,415		3,017