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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Assets and liabilities measured on recurring basis at fair value The table below presents the Corporation’s financial instruments measured at fair value on a recurring basis as of December 31, 2017 and 2016, aggregated by the level in the fair value hierarchy within which those measurements fall.
 
Fair Value Hierarchy
December 31, 2017
December 31, 2016
 
($ in Thousands)
Assets
 
 
 
Investment securities available for sale
 
 
 
U.S. Treasury securities
 Level 1
$
996

$
1,000

Residential mortgage-related securities
 
 
 
FNMA / FHLMC
 Level 2
464,768

639,930

GNMA
 Level 2
1,913,350

2,004,475

Private-label
 Level 2
1,059

1,121

GNMA commercial mortgage-related securities
 Level 2
1,513,277

2,028,898

FFELP asset backed securities

 Level 2
145,176

—

Other securities (debt and equity)
 Level 1
1,632

1,602

Other securities (debt and equity)
 Level 2
3,188

3,000

Other securities (debt and equity)
 Level 3
—

200

Total investment securities available for sale
 Level 1
2,628

2,602

Total investment securities available for sale
 Level 2
4,040,818

4,677,424

Total investment securities available for sale
 Level 3
—

200

Residential loans held for sale (a)
Level 2
85,544

—

Interest rate-related instruments
 Level 2
28,494

33,671

Foreign currency exchange forwards
 Level 2
2,495

2,002

Interest rate lock commitments to originate residential mortgage loans held for sale
 Level 3
1,538

206

Forward commitments to sell residential mortgage loans
 Level 3
—

2,908

Commodity contracts
 Level 2
38,686

16,725

Purchased options (time deposit)
 Level 2
1,175

2,576

Liabilities
 
 
 
Interest rate-related instruments
 Level 2
$
28,035

$
33,188

Foreign currency exchange forwards
 Level 2
2,339

1,943

Forward commitments to sell residential mortgage loans
 Level 3
313

—

Commodity contracts
 Level 2
37,286

15,972

Written options (time deposit)
 Level 2
1,175

2,576


(a)
Effective January 1, 2017, residential loans originated for sale are accounted for under the fair value option. Prior periods have not been restated. For more information on this accounting policy change, please refer to Note 1.
Assets and liabilities measured at fair value using significant unobservable inputs (level 3) The table below presents a rollforward of the balance sheet amounts for the years ended December 31, 2017 and 2016, for financial instruments measured on a recurring basis and classified within Level 3 of the fair value hierarchy.
 
Investment Securities
Available for Sale
Derivative Financial
Instruments
 
($ in Thousands)
Balance December 31, 2015
$
200

$
1,361

Total net gains (losses) included in income
 
 
Mortgage derivative gain (loss)
—

1,753

Balance December 31, 2016
$
200

$
3,114

Total net gains (losses) included in income
 
 
Mortgage derivative gain (loss)
—

(1,889
)
Transfer out of level 3 securities (a)
$
(200
)
$
—

Balance December 31, 2017
$
—

$
1,225


(a) During the first quarter of 2017, the $200,000 level 3 investment security was transferred to level 2 based upon new pricing information.
Assets and liabilities measured on nonrecurring basis at fair value The table below presents the Corporation’s assets measured at fair value on a nonrecurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall.
 
 
Income Statement Category of
Adjustment Recognized in Income
Adjustment Recognized in Income
 
Fair Value Hierarchy
Fair Value
 
($ in Thousands)
December 31, 2017
 
 
 
 
Assets
 
 
 
Impaired loans (a)
Level 3
$
92,534

Provision for credit losses (c)
$
(32,159
)
Other real estate owned
Level 2
2,604

Foreclosure / OREO expense, net
(939
)
Mortgage servicing rights
Level 3
64,387

Mortgage banking, net
(175
)
 
 
 
 
 
December 31, 2016
 
 
 
 
Assets
 
 
 
 
Commercial loans held for sale
Level 2
$
12,474

Provision for credit losses
$
(559
)
Residential loans held for sale (b)
Level 2
108,010

Mortgage banking, net
(3,760
)
Impaired loans (a)
Level 3
79,270

Provision for credit losses (c)
(75,194
)
Other real estate owned
Level 2
9,752

Foreclosure / OREO expense, net
(1,091
)
Mortgage servicing rights
Level 3
73,149

Mortgage banking, net
200

(a)
Represents individually evaluated impaired loans, net of the related allowance for loan losses.
(b) Effective January 1, 2017, residential loans originated for sale are accounted for under the fair value option. Prior periods have not been restated. For more information on this accounting policy change, please refer to Note 3.
(c)
Represents provision for credit losses on individually evaluated impaired loans.
Schedule of assumptions for fair value as of balance sheet date of assets or liabilities that relate to transferor's continuing involvement The table below presents information about these inputs and further discussion is found above.
December 31, 2017
Valuation Technique
Significant Unobservable Input
Weighted Average Input Applied
Mortgage servicing rights
Discounted cash flow
Discount rate
11%
Mortgage servicing rights
Discounted cash flow
Constant prepayment rate
11%
Impaired loans
Appraisals / Discounted cash flow
Collateral / Discount factor
19%
Estimated fair values of financial instruments Fair value estimates, methods, and assumptions are set forth below for the Corporation’s financial instruments.
 
 
 
December 31, 2017
 
December 31, 2016
 
Fair Value Hierarchy Level
 
Carrying Amount
 
Fair Value
 
Carrying Amount
 
Fair Value
 
 
 
 
 
 
($ in Thousands)
Financial assets
 
 
 
 
 
 
 
 
 
Cash and due from banks
 Level 1
 
$
483,666

 
$
483,666

 
$
446,558

 
$
446,558

Interest-bearing deposits in other financial institutions
 Level 1
 
199,702

 
199,702

 
149,175

 
149,175

Federal funds sold and securities purchased under agreements to resell
 Level 1
 
32,650

 
32,650

 
46,500

 
46,500

Investment securities held to maturity
Level 2
 
2,282,853

 
2,283,574

 
1,273,536

 
1,264,674

Investment securities available for sale
 Level 1
 
2,628

 
2,628

 
2,602

 
2,602

Investment securities available for sale
Level 2
 
4,040,818

 
4,040,818

 
4,677,424

 
4,677,424

Investment securities available for sale
Level 3
 
—

 
—

 
200

 
200

FHLB and Federal Reserve Bank stocks
Level 2
 
165,331

 
165,331

 
140,001

 
140,001

Commercial loans held for sale
Level 2
 
—

 
—

 
12,474

 
12,474

Residential loans held for sale
Level 2
 
85,544

 
85,544

 
108,010

 
108,010

Loans, net
Level 3
 
20,519,111

 
20,314,984

 
19,776,381

 
19,680,317

Bank and corporate owned life insurance
Level 2
 
591,057

 
591,057

 
585,290

 
585,290

Derivatives (trading and other assets)
Level 2
 
70,850

 
70,850

 
54,974

 
54,974

Derivatives (trading and other assets)
Level 3
 
1,538

 
1,538

 
3,114

 
3,114

Financial liabilities
 
 
 
 
 
 
 
 
 
Noninterest-bearing demand, savings, interest-bearing demand, and money market accounts
Level 3
 
$
20,436,893

 
$
20,436,893

 
$
20,282,321

 
$
20,282,321

Brokered CDs and other time deposits
Level 2
 
2,349,069

 
2,349,069

 
1,606,127

 
1,606,127

Short-term funding
Level 2
 
676,282

 
676,282

 
1,092,035

 
1,092,035

Long-term funding
Level 2
 
3,397,450

 
3,411,368

 
2,761,795

 
2,791,841

Standby letters of credit (a)
Level 2
 
2,402

 
2,402

 
2,566

 
2,566

Derivatives (trading and other liabilities)
Level 2
 
68,835

 
68,835

 
53,679

 
53,679

Derivatives (trading and other liabilities)
 Level 3
 
313

 
313

 
—

 
—

(a)
The commitment on standby letters of credit was $235 million and $260 million at December 31, 2017 and 2016, respectively. See Note 16 for additional information on the standby letters of credit and for information on the fair value of lending-related commitments.