Derivative and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary Of Other derivative instruments not designated as hedging instruments

The following table presents the total notional amounts and gross fair values of the Company’s derivatives, as well as the balance sheet netting adjustments on an aggregate basis as of September 30, 2019 and December 31, 2018. The derivative assets and liabilities 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 consideration the effects of legally enforceable master netting agreements and cash collateral received or paid as of September 30, 2019 and December 31, 2018. The resulting net derivative asset and liability fair values are included in other assets and accrued expenses and other liabilities, respectively, on the consolidated balance sheets.

	September 30, 2019								December 31, 2018
	Asset				Liability				Asset				Liability
($ in Thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Designated as hedging instruments
Interest rate-related instruments	$	500,000	$	114	$	—	$	—	$	—	$	—	$	500,000	$	40
Not designated as hedging instruments
Interest rate-related instruments	2,799,863		100,376		2,799,863		17,586		2,707,204		52,796		2,707,204		52,653
Foreign currency exchange forwards	211,475		3,153		184,476		2,823		117,879		721		69,153		675
Commodity contracts	259,210		25,388		258,483		24,758		331,727		35,426		315,861		34,340
Mortgage banking(a)	300,515		2,017		227,060		590		191,222		2,208		139,984		2,072
Time deposits	518		13		518		13		11,185		109		11,185		109
Total not designated as hedging instruments			130,947				45,770				91,260				89,849
Gross derivatives before netting			131,061				45,770				91,260				89,889
Less: Legally enforceable master netting agreements			4,629				4,629				5,322				5,322
Less: Cash collateral pledged/received			16,182				14,680				27,593				63
Total derivative instruments, after netting(b)			$	110,250			$	26,461			$	58,345			$	84,504

(a) Mortgage derivative assets include interest rate lock commitments and mortgage derivative liabilities include forward commitments.

(b) The fair values of derivative assets are included in other assets, while the fair values of derivative liabilities are included in accrued expenses and other liabilities, in the consolidated balance sheets.

Cumulative basis adjustment for fair value hedges

The following table presents amounts that were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges:

	Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included
	Carrying Amount of the Hedged Assets/(Liabilities)		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
($ in Thousands)	September 30, 2019
Loans and investment securities receivables(a)	$	506,111	$	6,111
Total	$	506,111	$	6,111

(a) These amounts include the amortized cost basis of closed portfolios used in designated hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At September 30, 2019, the amortized cost basis of the closed portfolios used in these hedging relationships was $947 million; the positive cumulative basis adjustments associated with these hedging relationships was $6 million; and the amounts of the designated hedged items were $500 million.

Schedule of cash flow hedging instruments, statements of financial performance and financial position location

The table below identifies the effect of fair value hedge accounting on the Corporation's consolidated statements of income for the three and nine months ended September 30, 2019 and 2018:

	Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
	Three Months Ended September 30,										Nine Months Ended September 30,
	2019					2018					2019					2018
($ in Thousands)	Interest Income			Other Income (Expense)		Interest Income			Other Income (Expense)		Interest Income			Other Income (Expense)		Interest Income			Other Income (Expense)
Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of the fair value hedge is recorded	$	(59	)	$	—	$	(17	)	$	—	$	160		$	—	$	(30	)	$	—
The effects of fair value hedging: Gain or (loss) on fair value hedging relationships in Subtopic 815-20
Interest contracts
Hedged items	452			—		(2,522		)	—		6,674			—		(4,931		)	—
Derivatives designated as hedging instruments(a)	(511		)	—		2,506			—		(6,514		)	—		4,902			—

(a) Includes net settlements on the derivatives.

Gain (loss) on derivative instruments not designated as hedging instruments

The table below identifies the effect of derivatives not designated as hedging instruments on the Corporation's consolidated statements of income for the three and nine months ended September 30, 2019 and 2018:

	Consolidated Statements of Income Category of Gain / (Loss)  Recognized in Income	Three Months Ended September 30,						Nine Months Ended September 30,
($ in Thousands)		2019			2018			2019			2018
Derivative Instruments
Interest rate-related instruments — customer and mirror, net	Capital markets, net	$	(619	)	$	246		$	(2,309	)	$	354
Foreign currency exchange forwards	Capital markets, net	72			(92		)	284			(22		)
Commodity contracts	Capital markets, net	208			(72		)	(456		)	(958		)
Interest rate lock commitments (mortgage)	Mortgage banking, net	(2,851		)	(1,602		)	(191		)	147
Forward commitments (mortgage)	Mortgage banking, net	1,313			2,271			1,482			1,665