Derivative and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2021

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 as of March 31, 2021 and December 31, 2020. 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 March 31, 2021 and December 31, 2020. 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.

	March 31, 2021								December 31, 2020
	Asset				Liability				Asset				Liability
($ in Thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
Not designated as hedging instruments
Interest rate-related instruments	$	3,654,732	$	121,020	$	3,654,732	$	28,382	$	3,639,679	$	192,518	$	3,639,679	$	25,680
Foreign currency exchange forwards	448,395		3,044		439,381		2,828		411,292		4,909		398,890		4,836
Commodity contracts	70,633		5,808		70,758		5,098		87,547		12,486		83,214		11,155
Mortgage banking(a)(b)	292,704		11,171		408,500		—		226,818		9,624		335,500		2,046
Gross derivatives before netting			$	141,043			$	36,308			$	219,537			$	43,716
Less: Legally enforceable master netting agreements			2,643				2,643				1,936				1,936
Less: Cash collateral pledged/received			1,581				17,583				10,879				25,625
Total derivative instruments, after netting			$	136,819			$	16,082			$	206,722			$	16,155

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

(b) Includes $4 million forward commitment fair value.

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 months ended March 31, 2021 and 2020:

	Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
	Three Months Ended March 31,
	2021				2020
($ in Thousands)	Interest Income		Other Income (Expense)		Interest Income		Other Income (Expense)
Total amounts of income and expense line items presented on the consolidated statements of income in which the effects of the fair value hedge is recorded	$	(485)	$	—	$	(322)	$	(262)
The effects of fair value hedging: Gain or (loss) on fair value hedging relationships in Subtopic 815-20
Interest contracts
Hedged items	(485)		—		(322)		(262)
Derivatives designated as hedging instruments(a)	—		—		—		—

(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 months ended March 31, 2021 and 2020:

	Consolidated Statements of Income Category of Gain / (Loss)  Recognized in Income	Three Months Ended March 31,
($ in Thousands)		2021		2020
Derivative Instruments
Interest rate-related instruments — customer and mirror, net	Capital markets, net	$	2,938	$	(3,090)
Foreign currency exchange forwards	Capital markets, net	143		(122)
Commodity contracts	Capital markets, net	(621)		746
Interest rate lock commitments (mortgage)	Mortgage banking, net	(2,708)		9,928
Forward commitments (mortgage)	Mortgage banking, net	(6,300)		(10,262)