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Derivatives and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2023
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 consolidated balance sheets related to cumulative basis adjustment for fair value hedges for the periods indicated:
March 31, 2023December 31, 2022
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$192.2 $7.8 $191.9 $8.1 
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 consolidated balance sheets.
March 31, 2023December 31, 2022
Notional AmountConsolidated Balance Sheet LocationEstimated
Fair Value		Notional AmountConsolidated Balance Sheet LocationEstimated
Fair Value
Derivatives designated as accounting hedges:
Interest rate swap contracts$850.0 $11.7 $550.0 $3.5 
Derivatives not designated as accounting hedges:
Interest rate swap contracts1,674.7 31.1 1,728.1 41.6 
Interest rate lock commitments36.2 0.3 — — 
Forward loan sales contracts— — 12.6 0.1 
Derivative assets$2,560.9 Other assets$43.1 $2,290.7 Other assets$45.2 
Derivatives designated as accounting hedges:
Interest rate collars$300.0 $3.9 $300.0 $5.4 
Interest rate swap contracts— — 300.0 0.3 
Derivatives not designated as accounting hedges:
Interest rate swap contracts1,674.7 122.7 1,728.1 153.9 
Risk participation agreements104.7 — 106.1 — 
Interest rate lock commitments— — 14.8 — 
Forward loan sales contracts32.2 0.1 — — 
Derivative liabilities$2,111.6 Accounts payable and accrued expenses$126.7 $2,449.0 Accounts payable and accrued expenses$159.6 
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 consolidated statements of income (loss) for the periods indicated:
Three Months Ended March 31,
20232022
Location of (Loss) Gain Recognized in Income on DerivativeAmount of Loss (Gain) Recognized in Income on Derivative
Interest rate lock commitmentsMortgage banking revenues$0.1 $(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 dates indicated:
March 31, 2023
Gross Assets RecognizedGross Assets Offset in the Balance SheetNet Assets in the Balance SheetFinancial Instruments
Cash Collateral Received (1)
Net Amount
Interest rate swap contracts$42.8 $— $42.8 $— $42.8 $— 
Mortgage related derivatives0.3 — 0.3 — — 0.3 
Total derivatives43.1 — 43.1 — 42.8 0.3 
Total assets$43.1 $— $43.1 $— $42.8 $0.3 
(1) Netting adjustments represent the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above.
Gross Liabilities RecognizedGross Liabilities Offset in the Balance SheetNet Liabilities in the Balance SheetFinancial InstrumentsCash Collateral PostedNet Amount
Interest rate swap and collar contracts$126.6 $— $126.6 $— $— $126.6 
Mortgage related derivatives0.1 — 0.1 — — 0.1 
Total derivatives 126.7 — 126.7 — — 126.7 
Repurchase agreements 970.8 — 970.8 — 970.8 — 
Total liabilities$1,097.5 $— $1,097.5 $— $970.8 $126.7 
December 31, 2022
Gross Assets RecognizedGross Assets Offset in the Balance SheetNet Assets in the Balance SheetFinancial InstrumentsCash Collateral ReceivedNet Amount
Interest rate swap contracts$45.1 $— $45.1 $— $45.1 $— 
Mortgage related derivatives0.1 — 0.1 — — 0.1 
Total derivatives45.2 — 45.2 — 45.1 0.1 
Total assets$45.2 $— $45.2 $— $45.1 $0.1 
Gross Liabilities RecognizedGross Liabilities Offset in the Balance SheetNet Liabilities in the Balance SheetFinancial InstrumentsCash Collateral PostedNet Amount
Interest rate swap contracts$159.6 $— $159.6 $— $— $159.6 
Total derivatives 159.6 — 159.6 — — 159.6 
Repurchase agreements 1,052.9 — 1,052.9 — 1,052.9 — 
Total liabilities$1,212.5 $— $1,212.5 $— $1,052.9 $159.6