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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2018
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 March 31, 2018 and December 31, 2017, aggregated by the level in the fair value hierarchy within which those measurements fall.
 
Fair Value Hierarchy
 
March 31, 2018
 
December 31, 2017
 
 
 
($ in Thousands)
Assets
 
 
 
 
 
Investment securities available for sale
 
 
 
 
 
U.S. Treasury securities
 Level 1
 
$
995

 
$
996

Residential mortgage-related securities
 
 
 
 
 
FNMA / FHLMC
 Level 2
 
430,073

 
464,768

GNMA
 Level 2
 
2,310,306

 
1,913,350

Private-label
 Level 2
 
1,044

 
1,059

GNMA commercial mortgage-related securities
 Level 2
 
1,448,369

 
1,513,277

FFELP asset backed securities
 Level 2
 
290,300

 
145,176

Other equity securities
 Level 1
 
1,599

 
1,632

Other debt securities
 Level 2
 
3,188

 
3,188

Total investment securities available for sale
 Level 1
 
2,594

 
2,628

Total investment securities available for sale
 Level 2
 
4,483,281

 
4,040,818

Residential loans held for sale
 Level 2
 
103,953

 
85,544

Commercial loans held for sale
Level 2
 
6,091

 
—

Interest rate-related instruments
 Level 2
 
53,189

 
28,494

Foreign currency exchange forwards
 Level 2
 
2,612

 
2,495

Interest rate products (designated as hedging instruments)
Level 2
 
258

 
—

Interest rate lock commitments to originate residential mortgage loans held for sale
 Level 3
 
3,032

 
1,538

Commodity contracts
 Level 2
 
47,089

 
38,686

Purchased options (time deposit)
 Level 2
 
951

 
1,175

Liabilities
 
 
 
 
 
Interest rate-related instruments
 Level 2
 
$
52,238

 
$
28,035

Foreign currency exchange forwards
 Level 2
 
2,484

 
2,339

Forward commitments to sell residential mortgage loans
 Level 3
 
303

 
313

Commodity contracts
 Level 2
 
45,525

 
37,286

Written options (time deposit)
 Level 2
 
951

 
1,175
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 three months ended March 31, 2018 and the year ended December 31, 2017, 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, 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

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

 
1,501

Balance March 31, 2018
$
—

 
$
2,726



(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
($ in Thousands)
Fair Value Hierarchy
 
Fair Value
March 31, 2018
 
 
 
 
 
 
Assets
 
 
 
 
Commercial loans held for sale(a)
Level 2
 
$
6,091

Provision for credit losses
 
$
—

Impaired loans(b)
Level 3
 
74,038

Provision for credit losses(c)
 
(14,518
)
Other real estate owned
Level 2
 
2,088

Foreclosure / OREO expense, net
 
(553
)
Mortgage servicing rights
Level 3
 
81,810

Mortgage banking, net
 
474

 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
Assets
 
 
 
 
 
 
Impaired loans(b)
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
)

(a)
Commercial loans held for sale are carried at the lower of cost or estimated fair value. When the cost is less than or equal to the estimated fair value, no adjustment is recognized in income.
(b)
Represents individually evaluated impaired loans, net of the related allowance for loan losses.
(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 [Table Text Block]
The table below presents information about these inputs and further discussion is found above.
 
Valuation Technique
 
Significant Unobservable Input
 
Weighted Average Input Applied
March 31, 2018
Mortgage servicing rights
Discounted cash flow
 
Discount rate
 
11%
Mortgage servicing rights
Discounted cash flow
 
Constant prepayment rate
 
9%
Impaired Loans
Appraisals / Discounted cash flow
 
Collateral / Discount factor
 
28%
Estimated fair values of financial instruments
Fair value estimates are set forth below for the Corporation’s financial instruments.
 
 
 
March 31, 2018
 
December 31, 2017
 
Fair Value Hierarchy Level
 
Carrying Amount
 
Fair Value
 
Carrying Amount
 
Fair Value
 
 
 
 
 
 
($ in Thousands)
Financial assets
 
 
 
 
 
 
 
 
 
Cash and due from banks
 Level 1
 
$
328,260

 
$
328,260

 
$
483,666

 
$
483,666

Interest-bearing deposits in other financial institutions
 Level 1
 
94,918

 
94,918

 
199,702

 
199,702

Federal funds sold and securities purchased under agreements to resell
 Level 1
 
10,000

 
10,000

 
32,650

 
32,650

Investment securities held to maturity
Level 2
 
2,443,203

 
2,407,197

 
2,282,853

 
2,283,574

Investment securities available for sale
 Level 1
 
2,594

 
2,594

 
2,628

 
2,628

Investment securities available for sale
Level 2
 
4,483,281

 
4,483,281

 
4,040,818

 
4,040,818

FHLB and Federal Reserve Bank stocks
Level 2
 
233,216

 
233,216

 
165,331

 
165,331

Residential loans held for sale
Level 2
 
103,953

 
103,953

 
85,544

 
85,544

Commercial loans held for sale
Level 2
 
6,091

 
6,091

 
—

 
—

Loans, net
Level 3
 
22,553,433

 
22,195,415

 
20,519,111

 
20,314,984

Bank and corporate owned life insurance
Level 2
 
657,841

 
657,841

 
591,057

 
591,057

Derivatives (trading and other assets)
Level 2
 
104,099

 
104,099

 
70,850

 
70,850

Derivatives (trading and other assets)
Level 3
 
3,032

 
3,032

 
1,538

 
1,538

Financial liabilities
 
 
 
 
 
 
 
 
 
Noninterest-bearing demand, savings, interest-bearing demand, and money market accounts
Level 3
 
$
21,148,230

 
$
21,148,230

 
$
20,436,893

 
$
20,436,893

Brokered CDs and other time deposits
Level 2
 
2,677,372

 
2,677,372

 
2,349,069

 
2,349,069

Short-term funding
Level 2
 
2,146,374

 
2,146,374

 
676,282

 
676,282

Long-term funding
Level 2
 
3,233,338

 
3,242,517

 
3,397,450

 
3,411,368

Standby letters of credit(a)
Level 2
 
2,468

 
2,468

 
2,402

 
2,402

Derivatives (trading and other liabilities)
Level 2
 
101,198

 
101,198

 
68,835

 
68,835

Derivatives (trading and other liabilities)
 Level 3
 
303

 
303

 
313

 
313

(a)
The commitment on standby letters of credit was $254 million and $235 million at March 31, 2018 and December 31, 2017, respectively. See Note 12 for additional information on the standby letters of credit and for information on the fair value of lending-related commitments.