Derivative and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022 and December 31, 2021. 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, 2022 and December 31, 2021. 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.

	Mar 31, 2022								Dec 31, 2021
	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	$	4,090,770	$	31,728	$	4,130,770	$	112,029	$	3,874,781	$	83,626	$	3,874,781	$	26,231
Foreign currency exchange forwards	506,185		1,986		501,213		1,815		490,057		5,490		478,745		5,441
Commodity contracts	—		—		—		—		3,894		1,264		3,910		1,248
Mortgage banking(a)(b)	114,909		4,796		197,000		234		133,990		2,647		245,016		—
Gross derivatives before netting			$	38,511			$	114,078			$	93,026			$	32,921
Less: Legally enforceable master netting agreements			2,514				2,514				2,143				2,143
Less: Cash collateral pledged/received			7,816				987				1,313				11,357
Total derivative instruments, after netting			$	28,181			$	110,577			$	89,570			$	19,421

(a) The notional amount of the mortgage derivative asset includes interest rate lock commitments, while the notional amount of the mortgage derivative liability includes forward commitments.
(b) At March 31, 2022, the mortgage derivative asset includes $5 million of forward commitments fair value, while the mortgage derivative liability includes approximately $224,000 of interest rate lock commitments fair value. At December 31, 2021, the mortgage derivative asset included approximately $30,000 of forward commitments 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, 2022 and 2021:

	Location and Amount of Gain or (Loss) Recognized on the Consolidated Statements of Income in Fair Value and Cash Flow Hedging Relationships
	Three months ended Mar 31,
	2022		2021
($ in Thousands)	Interest Income
Total amounts of income presented on the consolidated statements of income in which the effects of the fair value hedge is recorded	$	(179)	$	(485)
The effects of fair value hedging: (Loss) on fair value hedging relationships in Subtopic 815-20
Interest contracts
Hedged items	(179)		(485)

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, 2022 and 2021:

	Consolidated Statements of Income Category of Gain / (Loss)  Recognized in Income	Three Months Ended Mar 31,
($ in Thousands)		2022		2021
Derivative Instruments
Interest rate-related instruments — customer and mirror, net	Capital markets, net	$	573	$	2,938
Interest rate-related instruments — MSRs hedge	Mortgage banking, net	$	(3,666)	$	—
Foreign currency exchange forwards	Capital markets, net	123		143
Commodity contracts	Capital markets, net	(16)		(621)
Interest rate lock commitments (mortgage)	Mortgage banking, net	(2,842)		(2,708)
Forward commitments (mortgage)	Mortgage banking, net	(4,757)		(6,300)