Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges for the periods indicated:

	June 30, 2022				December 31, 2021
	Carrying Amount of the Hedged Assets/(Liabilities)		Cumulative Amount of Fair Value Hedging Adjustment		Carrying Amount of the Hedged Assets/(Liabilities)		Cumulative Amount of Fair Value Hedging Adjustment
Available-for-sale securities	$	189.5	$	(10.5)	$	695.6	$	(4.4)

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table summarizes the fair values of our derivative instruments on a gross and net basis for the periods indicated. The derivative asset and liability balances 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 account the impact of legally enforceable master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Securities collateral related to legally enforceable master netting agreements is not offset on the balance sheet.

	June 30, 2022					December 31, 2021
	Notional Amount		Balance Sheet Location	Estimated Fair Value		Notional Amount		Balance Sheet Location	Estimated Fair Value
Derivatives designated as hedges:
Interest rate swap contracts	$	200.0		$	10.3	$	700.0		$	4.1
Derivatives not designated as hedges:
Interest rate swap contracts	1,758.7			14.3		913.9			22.2
Interest rate lock commitments	28.6			0.2		77.3			1.8
Forward loan sales contracts	34.6			—		—			—
Derivative assets in the balance sheet	$	2,021.9	Other Assets	$	24.8	$	1,691.2	Other Assets	$	28.1
Derivatives designated as hedges:
Interest rate swap contracts	$	—		$	—	$	87.6		$	0.1
Derivatives not designated as hedges:
Interest rate swap contracts	1,758.7			99.2		913.9			18.1
Risk participation agreements	108.5			0.2		—			—
Forward loan sales contracts	—			—		102.4			—
Derivative liabilities in the balance sheet	$	1,867.2	Accrued Expenses	$	99.4	$	1,103.9	Accrued Expenses	$	18.2

Derivatives Not Designated as Hedging Instruments

The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the income statement for the periods indicated:

	Three Months Ended June 30,					Six Months Ended June 30,
		2022		2021			2022		2021
	Location of Gain Recognized in Income on Derivative	Amount of Gain Recognized in Income on Derivative				Location of Gain Recognized in Income on Derivative	Amount of Gain Recognized in Income on Derivative
Interest rate lock commitments	Mortgage banking revenues	$	1.0	$	0.2	Mortgage banking revenues	$	1.5	$	0.5

Schedule of Derivative Instruments

The tables below present the gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of the periods indicated:

	June 30, 2022
	Gross Assets Recognized		Gross Assets Offset in the Balance Sheet		Net Assets in the Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amount
Interest rate swap contracts	$	24.6	$	—	$	24.6	$	—	$	23.7	$	0.9
Mortgage related derivatives	0.2		—		0.2		—		—		0.2
Total derivatives	24.8		—		24.8		—		23.7		1.1
Total assets	$	24.8	$	—	$	24.8	$	—	$	23.7	$	1.1
	Gross Liabilities Recognized		Gross Liabilities Offset in the Balance Sheet		Net Liabilities in the Balance Sheet		Financial Instruments		Cash Collateral Posted		Net Amount
Interest rate swap contracts	$	99.2	$	—	$	99.2	$	—	$	—	$	99.2
Risk participation agreements	0.2		—		0.2		—		—		0.2
Total derivatives	99.4		—		99.4		—		—		99.4
Repurchase agreements	1,234.7		—		1,234.7		—		1,234.7		—
Total liabilities	$	1,334.1	$	—	$	1,334.1	$	—	$	1,234.7	$	99.4

	December 31, 2021
	Gross Assets Recognized		Gross Assets Offset in the Balance Sheet		Net Assets in the Balance Sheet		Financial Instruments		Cash Collateral Received		Net Amount
Interest rate swap contracts	$	26.3	$	—	$	26.3	$	—	$	8.0	$	18.3
Mortgage related derivatives	1.8		—		1.8		—		—		1.8
Total derivatives	28.1		—		28.1		—		8.0		20.1
Total assets	$	28.1	$	—	$	28.1	$	—	$	8.0	$	20.1
	Gross Liabilities Recognized		Gross Liabilities Offset in the Balance Sheet		Net Liabilities in the Balance Sheet		Financial Instruments		Cash Collateral Posted		Net Amount
Interest rate swap contracts	$	18.2	$	—	$	18.2	$	—	$	—	$	18.2
Total derivatives	18.2		—		18.2		—		—		18.2
Repurchase agreements	1,051.1		—		1,051.1		—		1,051.1		—
Total liabilities	$	1,069.3	$	—	$	1,069.3	$	—	$	1,051.1	$	18.2