XML 67 R45.htm IDEA: XBRL DOCUMENT v3.25.0.1
Derivative and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary Of Other Derivative Instruments Not Designated As Hedging Instruments [Table Text Block]
 December 31, 2024December 31, 2023
AssetLiabilityAssetLiability
($ in thousands)Notional AmountFair
Value
Notional AmountFair
Value
Notional AmountFair
Value
Notional AmountFair
Value
Designated as hedging instruments:
Interest rate-related instruments(a)
$1,950,000 $2,960 $1,150,000 $2,976 $2,300,000 $8,075 $550,000 $930 
Foreign currency exchange forwards127,518 2,457 216,665 563 231,566 632 189,212 2,946 
Total designated as hedging instruments5,418 3,539 8,707 3,876 
Not designated as hedging instruments:
Interest rate-related and other instruments3,858,867 88,541 6,992,894 170,928 3,603,513 111,623 6,528,471 195,662 
Foreign currency exchange forwards68,028 4,315 74,199 4,106 87,526 2,954 135,654 2,746 
Mortgage banking(b)(c)
28,580 580 85,000 — 29,490 439 51,500 673 
Total not designated as hedging instruments93,436 175,034 115,016 199,082 
Gross derivatives before netting98,854 178,573 123,723 202,958 
Less: Legally enforceable master netting agreements12,667 12,667 18,234 18,234 
Less: Cash collateral pledged/received35,190 250 35,855 — 
Total derivative instruments, after netting$50,997 $165,656 $69,634 $184,724 
(a) The notional amounts of the interest rate-related instruments designated as hedging instruments include forward starting interest rate swaps with an effective date ranging from February 1, 2025 to March 1, 2025. The asset notional amount and fair value on such swaps were $100 million and approximately $333,000, respectively. The liability notional amount and fair value on such swaps were $300 million and $1 million, respectively.
(b) 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.
(c) At December 31, 2024, the mortgage derivative asset included approximately $254,000 of forward commitments fair value.
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents amounts that were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges:
Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included
Carrying Amount of the Hedged Assets/(Liabilities)(a)
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
Carrying Amount of the Hedged Assets/(Liabilities)(a)
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
($ in thousands)December 31, 2024December 31, 2023
Other long-term funding$(296,004)$3,996 $(548,634)$1,366 
FHLB Advances(592,256)7,744 (590,287)9,713 
Total$(888,260)$11,740 $(1,138,921)$11,079 
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] The tables below identify the effect of fair value and cash flow hedge accounting on the Corporation's consolidated statements of income:
Location and Amount Recognized on the Consolidated Statements of Income in Fair Value and Cash Flow Hedging Relationships
For the Years Ended December 31,
202420232022
($ in thousands)Interest IncomeInterest ExpenseInterest IncomeInterest ExpenseLoss on Mortgage Portfolio SaleInterest IncomeInterest Expense
Total amounts of income/expense presented on the consolidated statements of income in which the effects of the fair value or cash flow hedges are recorded(a)
$(16,695)$19,189 $(14,176)$17,536 $(125)$(263)$334 
The effects of fair value and cash flow hedging: Impact on fair value hedging relationships in Subtopic 815-20
Interest contracts:
Hedged items(217)(661)(245)5,084 (125)(529)(16,163)
Derivatives designated as hedging instruments(a)
(16,478)19,850 (13,930)12,451 — 266 16,497 
(a) Includes net settlements on the derivatives.
Location and Amount Recognized on the Consolidated Statements of Income in Fair Value Hedging Relationships
For the Years Ended December 31,
202420232022
($ in thousands)Capital Markets, NetCapital Markets, NetCapital Markets, Net
Total amounts of income/expense presented on the consolidated statements of income in which the effects of fair value hedges are recorded
$(3)$— $(9)
The effects of fair value hedging: Impact on fair value hedging relationships in Subtopic 815-20
Foreign currency contracts:
Hedged items(31,226)9,322 (26,686)
Derivatives designated as hedging instruments31,223 (9,322)26,677 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table presents the effect of cash flow hedge accounting on accumulated other comprehensive income (loss):
For the Years Ended December 31,
($ in thousands)202420232022
Interest rate-related instruments designated as cash flow hedging instruments
Amount of (loss) income recognized in OCI on cash flow hedge derivative(a)
$(21,537)$(13,254)$3,626 
Amount of loss (gain) reclassified from accumulated other comprehensive income (loss) into interest income(a)
16,478 13,930 (266)

(a) The entirety of gains (losses) recognized in OCI as well as those reclassified from accumulated other comprehensive income (loss) into interest income were included components in the assessment of hedge effectiveness.
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:
Consolidated Statements of Income Category of
Gain / (Loss) Recognized in Income
For the Years Ended December 31,
($ in thousands)202420232022
Derivative Instruments
Interest rate-related and other instruments — customer and mirror, netCapital markets, net$(133)$392 $515 
Interest rate-related instruments — MSRs hedgeMortgage banking, net(6,531)(1,096)(12,622)
Foreign currency exchange forwardsCapital markets, net(371)1,670 203 
Commodity contractsCapital markets, net— — (16)
Interest rate lock commitments (mortgage)Mortgage banking, net(113)353 (2,531)
Forward commitments (mortgage)Mortgage banking, net927 (627)(123)