XML 124 R44.htm IDEA: XBRL DOCUMENT v3.3.1.900
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Tables)
 12 Months Ended
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Summary of lending-related and other commitments
The following is a summary of lending-related commitments.
 
2015
 
2014
 
($ in Thousands)
Commitments to extend credit, excluding commitments to originate residential mortgage loans held for sale(1)(2)
$
7,402,518

 
$
6,884,411

Commercial letters of credit(1)
9,945

 
9,179

Standby letters of credit(3)
296,508

 
353,292



1)
These off-balance sheet financial instruments are exercisable at the market rate prevailing at the date the underlying transaction will be completed and, thus, are deemed to have no current fair value, or the fair value is based on fees currently charged to enter into similar agreements and is not material at December 31, 2015 or 2014.
2)
Interest rate lock commitments to originate residential mortgage loans held for sale are considered derivative instruments and are disclosed in Note 14.
3)
The Corporation has established a liability of $3 million at December 31, 2015 compared to $4 million at December 31, 2014, as an estimate of the fair value of these financial instruments.
Summary of changes in the residential mortgage repurchase reserve
The following summarizes the changes in the mortgage repurchase reserve for the years ended as follows.
 
2015
 
2014
 
($ in Thousands)
Balance at beginning of year
$
3,258

 
$
5,737

Repurchase provision expense
428

 
505

Adjustments to provision expense
(2,450
)
 
(2,250
)
Charge offs, net
(39
)
 
(734
)
Balance at end of year
$
1,197

 
$
3,258