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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Investment securities available for sale
Investment securities are classified as AFS, HTM, or equity on the consolidated balance sheets at the time of purchase. The amortized cost and fair values of AFS and HTM securities at December 31, 2023 were as follows:
($ in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
AFS investment securities
U.S. Treasury securities$39,984 $— $(4,083)$35,902 
Obligations of state and political subdivisions (municipal securities)94,008 23 (2,214)91,817 
Residential mortgage-related securities:
FNMA/FHLMC1,274,052 294 (153,552)1,120,794 
GNMA2,021,242 24,254 (2,822)2,042,675 
Commercial mortgage-related securities:
FNMA/FHLMC18,691 — (1,755)16,937 
GNMA161,928 — (7,135)154,793 
Asset backed securities:
FFELP135,832 5 (1,862)133,975 
SBA1,077 2 (28)1,051 
Other debt securities3,000 — (50)2,950 
Total AFS investment securities$3,749,814 $24,579 $(173,501)$3,600,892 
HTM investment securities
U.S. Treasury securities$999 $— $(36)$963 
Obligations of state and political subdivisions (municipal securities)1,682,473 5,638 (134,053)1,554,059 
Residential mortgage-related securities:
FNMA/FHLMC941,973 27,007 (164,587)804,393 
GNMA48,979 92 (2,901)46,170 
Private-label345,083 9,796 (65,372)289,507 
Commercial mortgage-related securities:
FNMA/FHLMC780,995 12,699 (160,781)632,914 
GNMA59,733 386 (7,500)52,619 
Total HTM investment securities$3,860,235 $55,619 $(535,230)$3,380,624 
The amortized cost and fair values of AFS and HTM securities at December 31, 2022 were as follows:
($ in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
AFS investment securities
U.S. Treasury securities$124,441 $— $(15,063)$109,378 
Agency securities15,000 — (1,468)13,532 
Obligations of state and political subdivisions (municipal securities)235,693 96 (5,074)230,714 
Residential mortgage-related securities:
FNMA/FHLMC1,820,642 404 (216,436)1,604,610 
GNMA502,537 314 (5,255)497,596 
Commercial mortgage-related securities:
FNMA/FHLMC19,038 — (1,896)17,142 
GNMA115,031 — (4,569)110,462 
Asset backed securities:
   FFELP157,138 — (5,947)151,191 
   SBA4,512 15 (51)4,477 
Other debt securities3,000 — (78)2,922 
Total AFS investment securities$2,997,032 $830 $(255,837)$2,742,025 
HTM investment securities
U.S. Treasury securities$999 $— $(62)$936 
Obligations of state and political subdivisions (municipal securities)1,732,351 1,994 (182,697)1,551,647 
Residential mortgage-related securities:
FNMA/FHLMC961,231 31,301 (175,760)816,771 
GNMA52,979 85 (3,436)49,628 
Private-label364,728 11,697 (72,920)303,505 
Commercial mortgage-related securities:
FNMA/FHLMC778,796 15,324 (178,281)615,839 
GNMA69,369 577 (7,254)62,691 
Total HTM investment securities$3,960,451 $60,978 $(620,411)$3,401,018 
Investment securities held to maturity
Investment securities are classified as AFS, HTM, or equity on the consolidated balance sheets at the time of purchase. The amortized cost and fair values of AFS and HTM securities at December 31, 2023 were as follows:
($ in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
AFS investment securities
U.S. Treasury securities$39,984 $— $(4,083)$35,902 
Obligations of state and political subdivisions (municipal securities)94,008 23 (2,214)91,817 
Residential mortgage-related securities:
FNMA/FHLMC1,274,052 294 (153,552)1,120,794 
GNMA2,021,242 24,254 (2,822)2,042,675 
Commercial mortgage-related securities:
FNMA/FHLMC18,691 — (1,755)16,937 
GNMA161,928 — (7,135)154,793 
Asset backed securities:
FFELP135,832 5 (1,862)133,975 
SBA1,077 2 (28)1,051 
Other debt securities3,000 — (50)2,950 
Total AFS investment securities$3,749,814 $24,579 $(173,501)$3,600,892 
HTM investment securities
U.S. Treasury securities$999 $— $(36)$963 
Obligations of state and political subdivisions (municipal securities)1,682,473 5,638 (134,053)1,554,059 
Residential mortgage-related securities:
FNMA/FHLMC941,973 27,007 (164,587)804,393 
GNMA48,979 92 (2,901)46,170 
Private-label345,083 9,796 (65,372)289,507 
Commercial mortgage-related securities:
FNMA/FHLMC780,995 12,699 (160,781)632,914 
GNMA59,733 386 (7,500)52,619 
Total HTM investment securities$3,860,235 $55,619 $(535,230)$3,380,624 
The amortized cost and fair values of AFS and HTM securities at December 31, 2022 were as follows:
($ in thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
AFS investment securities
U.S. Treasury securities$124,441 $— $(15,063)$109,378 
Agency securities15,000 — (1,468)13,532 
Obligations of state and political subdivisions (municipal securities)235,693 96 (5,074)230,714 
Residential mortgage-related securities:
FNMA/FHLMC1,820,642 404 (216,436)1,604,610 
GNMA502,537 314 (5,255)497,596 
Commercial mortgage-related securities:
FNMA/FHLMC19,038 — (1,896)17,142 
GNMA115,031 — (4,569)110,462 
Asset backed securities:
   FFELP157,138 — (5,947)151,191 
   SBA4,512 15 (51)4,477 
Other debt securities3,000 — (78)2,922 
Total AFS investment securities$2,997,032 $830 $(255,837)$2,742,025 
HTM investment securities
U.S. Treasury securities$999 $— $(62)$936 
Obligations of state and political subdivisions (municipal securities)1,732,351 1,994 (182,697)1,551,647 
Residential mortgage-related securities:
FNMA/FHLMC961,231 31,301 (175,760)816,771 
GNMA52,979 85 (3,436)49,628 
Private-label364,728 11,697 (72,920)303,505 
Commercial mortgage-related securities:
FNMA/FHLMC778,796 15,324 (178,281)615,839 
GNMA69,369 577 (7,254)62,691 
Total HTM investment securities$3,960,451 $60,978 $(620,411)$3,401,018 
Amortized cost and fair values of investment securities available for sale and held to maturity by contractual maturity
Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The expected maturities of AFS and HTM securities at December 31, 2023, are shown below:
 AFSHTM
($ in thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in one year or less$2,395 $2,372 $6,099 $6,096 
Due after one year through five years42,606 38,464 52,391 52,328 
Due after five years through ten years64,728 62,839 157,279 153,795 
Due after ten years27,263 26,993 1,467,704 1,342,803 
Total debt securities136,992 130,669 1,683,472 1,555,022 
Residential mortgage-related securities:
FNMA/FHLMC1,274,052 1,120,794 941,973 804,393 
GNMA2,021,242 2,042,675 48,979 46,170 
Private-label— — 345,083 289,507 
Commercial mortgage-related securities:
FNMA/FHLMC18,691 16,937 780,995 632,914 
GNMA161,928 154,793 59,733 52,619 
Asset backed securities:
FFELP135,832 133,975 — — 
SBA1,077 1,051 — — 
Total investment securities$3,749,814 $3,600,892 $3,860,235 $3,380,624 
Ratio of fair value to amortized cost96.0 %87.6 %
Debt Securities, Held-to-maturity, Credit Quality Indicator [Table Text Block]
On a quarterly basis, the Corporation refreshes the credit quality of each HTM security. The following table summarizes the credit quality indicators of HTM securities at amortized cost at December 31, 2023:
($ in thousands)AAAAAANot RatedTotal
U.S. Treasury securities$999 $— $— $— $999 
Obligations of state and political subdivisions (municipal securities)760,329 915,303 5,687 1,155 1,682,473 
Residential mortgage-related securities:
FNMA/FHLMC941,973 — — — 941,973 
GNMA48,979 — — — 48,979 
Private-label345,083 — — — 345,083 
Commercial mortgage-related securities:
FNMA/FHLMC780,995 — — — 780,995 
GNMA59,733 — — — 59,733 
Total HTM securities$2,938,090 $915,303 $5,687 $1,155 $3,860,235 
The following table summarizes the credit quality indicators of HTM securities at amortized cost at December 31, 2022:
($ in thousands)AAAAAANot RatedTotal
U.S. Treasury securities$999 $— $— $— $999 
Obligations of state and political subdivisions (municipal securities)806,529 917,059 7,604 1,158 1,732,351 
Residential mortgage-related securities:
FNMA/FHLMC961,231 — — — 961,231 
GNMA52,979 — — — 52,979 
Private-label364,728 — — — 364,728 
Commercial mortgage-related securities:
FNMA/FHLMC778,796 — — — 778,796 
GNMA69,369 — — — 69,369 
Total HTM securities$3,034,630 $917,059 $7,604 $1,158 $3,960,451 
Realized gains and losses and proceeds from sale
The following table summarizes gross realized gains and losses on AFS securities, the gain on sale and net write-up of equity securities, and proceeds from the sale of AFS investment securities for each of the three years ended December 31 shown below:
($ in thousands)202320222021
Gross realized gains on AFS securities$83 $21 $421 
Gross realized (losses) on AFS securities(65,022)(1,943)(437)
Gain on sale and net write-up of equity securities6,037 5,668 — 
Investment securities gains (losses), net$(58,903)$3,746 $(16)
Proceeds from sales of AFS investment securities$715,066 $110,177 $158,708 
Unrealized losses and fair value of available for sale and held to maturity securities, by investment category and time length
The following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position, at December 31, 2023:
 Less than 12 months12 months or moreTotal
($ in thousands)Number
of
Securities		Unrealized
(Losses)		Fair
Value		Number
of
Securities		Unrealized
(Losses)		Fair
Value		Unrealized (Losses)Fair
Value
AFS investment securities
U.S. Treasury securities— $— $— 1 $(4,083)$35,902 $(4,083)$35,902 
Obligations of state and political subdivisions (municipal securities)41 (347)23,762 92 (1,867)53,022 (2,214)76,784 
Residential mortgage-related securities:
FNMA/FHLMC18 (333)22,870 71 (153,219)1,080,337 (153,552)1,103,207 
GNMA13 (924)156,847 5 (1,898)26,643 (2,822)183,490 
Commercial mortgage-related securities:
FNMA/FHLMC— — — 1 (1,755)16,937 (1,755)16,937 
GNMA9 (3,160)103,055 22 (3,975)51,738 (7,135)154,793 
Asset backed securities:
FFELP— — — 14 (1,862)125,339 (1,862)125,339 
SBA— — — 5 (28)761 (28)761 
Other debt securities1 (9)991 2 (42)1,958 (50)2,950 
Total82 $(4,773)$307,527 213 $(168,728)$1,392,635 $(173,501)$1,700,162 
HTM investment securities
U.S. Treasury securities— $— $— 1 $(36)$963 $(36)$963 
Obligations of state and political subdivisions (municipal securities)182 (1,535)180,270 537 (132,518)792,940 (134,053)973,210 
Residential mortgage-related securities:
FNMA/FHLMC20 (511)30,323 94 (164,076)771,042 (164,587)801,365 
GNMA 2 (17)2,128 78 (2,884)34,626 (2,901)36,754 
Private-label— — — 18 (65,372)289,507 (65,372)289,507 
Commercial mortgage-related securities:
FNMA/FHLMC1 (121)8,144 44 (160,660)624,770 (160,781)632,914 
GNMA— — — 13 (7,500)52,619 (7,500)52,619 
Total205 $(2,184)$220,865 785 $(533,046)$2,566,468 $(535,230)$2,787,333 
For comparative purposes, the following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2022:
 Less than 12 months12 months or moreTotal
($ in thousands)Number
of
Securities		Unrealized
(Losses)		Fair
Value		Number
of
Securities		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value
AFS investment securities
U.S. Treasury securities— $— $— 7 $(15,063)$109,378 $(15,063)$109,378 
Agency securities— — — 1 (1,468)13,532 (1,468)13,532 
Obligations of state and political subdivisions (municipal securities)358 (5,066)201,260 4 (8)1,916 (5,074)203,176 
Residential mortgage-related securities:
FNMA/FHLMC24 (31,266)260,986 84 (185,170)1,321,420 (216,436)1,582,406 
GNMA23 (4,415)220,276 2 (840)11,096 (5,255)231,372 
Commercial mortgage-related securities:
FNMA/FHLMC1 (1,896)17,142 — — — (1,896)17,142 
GNMA33 (3,920)101,036 4 (649)9,426 (4,569)110,462 
Asset backed securities:
FFELP3 (1,668)44,304 12 (4,278)106,887 (5,947)151,191 
SBA2 (1)417 6 (50)2,057 (51)2,474 
Other debt securities2 (30)1,970 1 (49)951 (78)2,922 
Total446 $(48,263)$847,391 121 $(207,575)$1,576,665 $(255,837)$2,424,055 
HTM investment securities
U.S. Treasury securities1 $(62)$936 — $— $— $(62)$936 
Obligations of state and political subdivisions (municipal securities)771 (96,282)1,079,216 156 (86,415)231,022 (182,697)1,310,238 
Residential mortgage-related securities:
FNMA/FHLMC79 (18,925)143,201 22(156,836)671,570 (175,760)814,770 
GNMA81 (3,436)44,476 — — — (3,436)44,476 
Private-label3 (9,509)58,733 15(63,411)244,772 (72,920)303,505 
Commercial mortgage-related securities:
FNMA/FHLMC4 (3,814)20,338 39 (174,467)576,911 (178,281)597,249 
GNMA8 (2,528)34,612 6 (4,726)28,080 (7,254)62,691 
Total947 $(134,556)$1,381,511 238 $(485,855)$1,752,354 $(620,411)$3,133,865