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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Investment securities available for sale The amortized cost and fair values of AFS and HTM securities at March 31, 2022 were as follows:
($ in Thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
Investment securities AFS
U. S. Treasury securities$124,328 $— $(8,196)$116,132 
Agency securities15,000 — (800)14,200 
Obligations of state and political subdivisions (municipal securities)368,831 3,764 (195)372,401 
Residential mortgage-related securities
FNMA / FHLMC1,993,893 937 (100,011)1,894,819 
GNMA59,470 166 (726)58,909 
Commercial mortgage-related securities
FNMA / FHLMC19,290 496 — 19,786 
GNMA128,019 18 (1,278)126,760 
Asset backed securities
FFELP173,068 — (4,090)168,978 
SBA5,865 33 (53)5,845 
Other debt securities3,000 — (27)2,973 
Total investment securities AFS$2,890,763 $5,416 $(115,376)$2,780,803 
Investment securities HTM
U. S. Treasury securities$998 $— $(34)$964 
Obligations of state and political subdivisions (municipal securities)1,696,536 32,201 (80,896)1,647,842 
Residential mortgage-related securities
FNMA / FHLMC956,470 35,739 (72,418)919,790 
GNMA44,742 116 (643)44,215 
Private-label384,016 13,460 (28,955)368,521 
Commercial mortgage-related securities
FNMA/FHLMC764,775 17,620 (88,784)693,610 
GNMA92,383 1,032 (3,456)89,959 
Total investment securities HTM$3,939,920 $100,167 $(275,186)$3,764,901 
During the first quarter of 2022, the Corporation redesignated approximately $1.6 billion of mortgage-related securities from AFS to HTM. The reclassification of these investment securities was accounted for at fair value. Management elected to transfer these investment securities as the Corporation has the positive intent and ability to hold these investment securities to maturity. See Note 16 for additional information on the unrealized losses on investment securities transferred from AFS to HTM. The amortized cost and fair values of AFS and HTM securities at December 31, 2021 were as follows:
($ in Thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
Investment securities AFS
U. S. Treasury securities$124,291 $— $(1,334)$122,957 
Agency securities15,000 — (103)14,897 
Obligations of state and political subdivisions (municipal securities)381,517 18,940 — 400,457 
Residential mortgage-related securities
FNMA / FHLMC2,709,399 3,729 (21,249)2,691,879 
GNMA66,189 1,591 — 67,780 
Private-label332,028 31 (2,335)329,724 
Commercial mortgage-related securities
FNMA / FHLMC357,240 2,686 (9,302)350,623 
GNMA165,439 1,360 — 166,799 
Asset backed securities
FFELP177,974 475 (1,123)177,325 
SBA6,594 39 (54)6,580 
Other debt securities3,000 — (6)2,994 
Total investment securities AFS$4,338,671 $28,850 $(35,506)$4,332,015 
Investment securities HTM
U. S. Treasury securities$1,000 $1 $— $1,001 
Obligations of state and political subdivisions (municipal securities)1,628,759 113,179 (1,951)1,739,988 
Residential mortgage-related securities
FNMA / FHLMC34,347 1,792 — 36,139 
GNMA48,053 1,578 — 49,631 
Commercial mortgage-related securities
FNMA / FHLMC425,937 122 (6,659)419,400 
GNMA100,907 1,799 (200)102,506 
 Total investment securities HTM$2,239,003 $118,471 $(8,809)$2,348,664 
Investment securities held to maturity The amortized cost and fair values of AFS and HTM securities at March 31, 2022 were as follows:
($ in Thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
Investment securities AFS
U. S. Treasury securities$124,328 $— $(8,196)$116,132 
Agency securities15,000 — (800)14,200 
Obligations of state and political subdivisions (municipal securities)368,831 3,764 (195)372,401 
Residential mortgage-related securities
FNMA / FHLMC1,993,893 937 (100,011)1,894,819 
GNMA59,470 166 (726)58,909 
Commercial mortgage-related securities
FNMA / FHLMC19,290 496 — 19,786 
GNMA128,019 18 (1,278)126,760 
Asset backed securities
FFELP173,068 — (4,090)168,978 
SBA5,865 33 (53)5,845 
Other debt securities3,000 — (27)2,973 
Total investment securities AFS$2,890,763 $5,416 $(115,376)$2,780,803 
Investment securities HTM
U. S. Treasury securities$998 $— $(34)$964 
Obligations of state and political subdivisions (municipal securities)1,696,536 32,201 (80,896)1,647,842 
Residential mortgage-related securities
FNMA / FHLMC956,470 35,739 (72,418)919,790 
GNMA44,742 116 (643)44,215 
Private-label384,016 13,460 (28,955)368,521 
Commercial mortgage-related securities
FNMA/FHLMC764,775 17,620 (88,784)693,610 
GNMA92,383 1,032 (3,456)89,959 
Total investment securities HTM$3,939,920 $100,167 $(275,186)$3,764,901 
During the first quarter of 2022, the Corporation redesignated approximately $1.6 billion of mortgage-related securities from AFS to HTM. The reclassification of these investment securities was accounted for at fair value. Management elected to transfer these investment securities as the Corporation has the positive intent and ability to hold these investment securities to maturity. See Note 16 for additional information on the unrealized losses on investment securities transferred from AFS to HTM. The amortized cost and fair values of AFS and HTM securities at December 31, 2021 were as follows:
($ in Thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
(Losses)		Fair Value
Investment securities AFS
U. S. Treasury securities$124,291 $— $(1,334)$122,957 
Agency securities15,000 — (103)14,897 
Obligations of state and political subdivisions (municipal securities)381,517 18,940 — 400,457 
Residential mortgage-related securities
FNMA / FHLMC2,709,399 3,729 (21,249)2,691,879 
GNMA66,189 1,591 — 67,780 
Private-label332,028 31 (2,335)329,724 
Commercial mortgage-related securities
FNMA / FHLMC357,240 2,686 (9,302)350,623 
GNMA165,439 1,360 — 166,799 
Asset backed securities
FFELP177,974 475 (1,123)177,325 
SBA6,594 39 (54)6,580 
Other debt securities3,000 — (6)2,994 
Total investment securities AFS$4,338,671 $28,850 $(35,506)$4,332,015 
Investment securities HTM
U. S. Treasury securities$1,000 $1 $— $1,001 
Obligations of state and political subdivisions (municipal securities)1,628,759 113,179 (1,951)1,739,988 
Residential mortgage-related securities
FNMA / FHLMC34,347 1,792 — 36,139 
GNMA48,053 1,578 — 49,631 
Commercial mortgage-related securities
FNMA / FHLMC425,937 122 (6,659)419,400 
GNMA100,907 1,799 (200)102,506 
 Total investment securities HTM$2,239,003 $118,471 $(8,809)$2,348,664 
Amortized cost and fair values of investment securities by contractual maturity The expected maturities of AFS and HTM securities at March 31, 2022, are shown below:
 AFSHTM
($ in Thousands)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in one year or less$5,167 $5,171 $18,432 $18,503 
Due after one year through five years89,914 87,185 34,156 34,343 
Due after five years through ten years378,692 374,733 163,456 164,057 
Due after ten years37,386 38,617 1,481,489 1,431,903 
Total debt securities511,159 505,706 1,697,534 1,648,806 
Residential mortgage-related securities
FNMA / FHLMC1,993,893 1,894,819 956,470 919,790 
GNMA59,470 58,909 44,742 44,215 
Private-label— — 384,016 368,521 
Commercial mortgage-related securities
FNMA / FHLMC19,290 19,786 764,775 693,610 
GNMA128,019 126,760 92,383 89,959 
Asset backed securities
FFELP 173,068 168,978 — — 
SBA5,865 5,845 — — 
Total investment securities$2,890,763 $2,780,803 $3,939,920 $3,764,901 
Ratio of fair value to amortized cost96.2 %95.6 %
Debt Securities, Held-to-maturity, Credit Quality Indicator The following table summarizes the credit quality indicators of HTM securities at amortized cost at March 31, 2022:
($ in Thousands)AAAAAANot RatedTotal
U. S. Treasury securities$998 $— $— $— $998 
Obligations of state and political subdivisions (municipal securities)762,066 920,883 12,692 895 1,696,536 
Residential mortgage-related securities
FNMA / FHLMC956,470 — — — 956,470 
GNMA44,742 — — — 44,742 
Private-label384,016 — — — 384,016 
Commercial mortgage-related securities
FNMA / FHLMC764,775 — — — 764,775 
GNMA 92,383 — — — 92,383 
Total HTM securities$3,005,450 $920,883 $12,692 $895 $3,939,920 
The following table summarizes the credit quality indicators of HTM securities at amortized cost at December 31, 2021:
($ in Thousands)AAAAAANot RatedTotal
U. S. Treasury securities$1,000 $— $— $— $1,000 
Obligations of state and political subdivisions (municipal securities)702,399 914,591 10,873 896 1,628,759 
Residential mortgage-related securities
FNMA / FHLMC34,347 — — — 34,347 
GNMA48,053 — — — 48,053 
Commercial mortgage-related securities
FNMA / FHLMC425,937 — — — 425,937 
GNMA 100,907 — — — 100,907 
Total HTM securities$1,312,642 $914,591 $10,873 $896 $2,239,003 
Realized gains and losses and proceeds from sale The proceeds from the sale of AFS investment securities for the three months ended March 31, 2022 and 2021, are shown below:
Three Months Ended Mar 31,
($ in Thousands)20222021
Gross gains on AFS securities$21 $36 
Gross (losses) on AFS securities— (75)
Investment securities gains (losses), net21 (39)
Proceeds from sales of investment securities AFS$734 $51,295 
Unrealized losses and fair value of available for sale and held to maturity securities, by investment category and time length The following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position, at March 31, 2022:
 Less than 12 months12 months or moreTotal
($ in Thousands)Number
of
Securities		Unrealized
(Losses)		Fair
Value		Number
of
Securities		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value
Investment securities AFS
U.S. Treasury securities5 $(7,346)$107,050 2 (850)$9,082 $(8,196)$116,132 
Agency securities1 (800)14,200 — — — (800)14,200 
Obligations of state and political subdivisions (municipal securities)64 (195)35,501 — — — (195)35,501 
Residential mortgage-related securities
FNMA / FHLMC88 (80,850)1,617,123 8 (19,161)235,380 (100,011)1,852,503 
GNMA9 (726)44,614 — — — (726)44,614 
GNMA commercial mortgage-related securities31 (1,278)113,831 — — — (1,278)113,831 
Asset backed securities
FFELP7 (1,955)110,489 8 (2,135)58,489 (4,090)168,978 
SBA— — — 8 (53)2,763 (53)2,763 
Other debt securities2 (27)1,973 — — — (27)1,973 
Total207 $(93,177)$2,044,781 26 $(22,199)$305,713 $(115,376)$2,350,494 
Investment securities HTM
U.S. Treasury securities1 $(34)$964 — $— $— $(34)$964 
Obligations of state and political subdivisions (municipal securities)346 (79,571)576,351 5 (1,325)5,100 (80,896)581,451 
Residential mortgage-related securities
FNMA / FHLMC51 (72,418)896,284 — — — (72,418)896,284 
GNMA46 (643)33,468 — — — (643)33,468 
Private-label18 (28,955)368,521 — — — (28,955)368,521 
 Commercial mortgage-related securities
FNMA / FHLMC15 (79,178)342,543 7 (9,606)72,787 (88,784)415,331 
GNMA33 (3,456)368,244 — — — (3,456)368,244 
Total510 $(264,255)$2,586,375 12 $(10,930)$77,887 $(275,186)$2,664,262 
For comparative purposes, the following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2021:
 Less than 12 months12 months or moreTotal
($ in Thousands)Number
of
Securities		Unrealized
(Losses)		Fair
Value		Number
of
Securities		Unrealized
(Losses)		Fair
Value		Unrealized
(Losses)		Fair
Value
Investment securities AFS
U.S. Treasury securities7 $(1,334)$122,957 — $— $— $(1,334)$122,957 
Agency securities1 (103)14,897 — — — (103)14,897 
Residential mortgage-related securities
FNMA / FHLMC74 (21,249)2,172,837 — — — (21,249)2,172,837 
Private-label12 (2,335)248,617 — — — (2,335)248,617 
FNMA / FHLMC commercial mortgage-related securities19 (9,302)328,568 — — — (9,302)328,568 
Asset backed securities
FFELP4 (256)64,282 8 (867)62,576 (1,123)126,858 
SBA— — — 9 (54)3,902 (54)3,902 
Other debt securities3 (6)2,994 — — — (6)2,994 
Total120 $(34,586)$2,955,152 17 $(920)$66,478 $(35,506)$3,021,630 
Investment securities HTM
Obligations of state and political subdivisions (municipal securities)49 $(1,951)$112,038 — $— $— $(1,951)$112,038 
Commercial mortgage-related securities
FNMA/FHLMC18 (6,272)388,072 1 $(387)$10,775 (6,659)398,847 
GNMA5 (200)33,468 — — — (200)33,468 
Total72 $(8,422)$533,577 1 $(387)$10,775 $(8,809)$544,352