Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 24, 2022 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-31343 | |
Entity Registrant Name | Associated Banc-Corp | |
Entity Incorporation, State or Country Code | WI | |
Entity Address, Address Line One | 433 Main Street | |
Entity Address, City or Town | Green Bay, | |
Entity Address, State or Province | WI | |
Entity Tax Identification Number | 39-1098068 | |
Entity Address, Postal Zip Code | 54301 | |
City Area Code | 920 | |
Local Phone Number | 491-7500 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 150,359,198 | |
Entity Central Index Key | 0000007789 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --12-31 | |
The New York Stock Exchange | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Common stock, par value $0.01 per share | |
Trading Symbol | ASB | |
Security Exchange Name | NYSE | |
Series E Preferred Stock | The New York Stock Exchange | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Depositary Shrs, each representing 1/40th intrst in a shr of 5.875% Non-Cum. Perp Pref Stock, Srs E | |
Trading Symbol | ASB PrE | |
Security Exchange Name | NYSE | |
Series F Preferred Stock | The New York Stock Exchange | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Depositary Shrs, each representing 1/40th intrst in a shr of 5.625% Non-Cum. Perp Pref Stock, Srs F | |
Trading Symbol | ASB PrF | |
Security Exchange Name | NYSE |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Assets | ||
Cash and due from banks | $ 386,231 | $ 343,831 |
Interest-bearing deposits in other financial institutions | 112,173 | 681,684 |
Federal funds sold and securities purchased under agreements to resell | 4,015 | 0 |
AFS investment securities, at fair value | 2,487,312 | 4,332,015 |
HTM investment securities, net, at amortized cost | 3,951,491 | 2,238,947 |
Equity securities | 24,879 | 18,352 |
Federal Home Loan Bank and Federal Reserve Bank stocks, at cost | 279,334 | 168,281 |
Residential loans held for sale | 51,134 | 136,638 |
Loans | 27,817,280 | 24,224,949 |
Allowance for loan losses | (292,904) | (280,015) |
Loans, net | 27,524,376 | 23,944,934 |
Tax credit and other investments | 275,247 | 293,733 |
Premises and equipment, net | 379,462 | 385,173 |
Bank and corporate owned life insurance | 677,129 | 680,021 |
Goodwill | 1,104,992 | 1,104,992 |
Other intangible assets, net | 51,485 | 58,093 |
Servicing Asset at Fair Value, Amount | 78,352 | 57,158 |
Servicing Asset at Amortized Cost | 54,862 | |
Interest receivable | 115,782 | 80,528 |
Other assets | 546,214 | 582,168 |
Total assets | 38,049,607 | 35,104,253 |
Liabilities and Stockholders' Equity | ||
Noninterest-bearing demand deposits | 8,224,579 | 8,504,077 |
Interest-bearing deposits | 20,974,003 | 19,962,353 |
Total deposits | 29,198,581 | 28,466,430 |
Federal funds purchased and securities sold under agreements to repurchase | 276,674 | 319,532 |
Commercial paper | 7,687 | 34,730 |
FHLB advances | 3,777,478 | 1,621,047 |
Other long-term funding | 249,484 | 249,324 |
Allowance for unfunded commitments | 39,776 | 39,776 |
Accrued expenses and other liabilities | 545,976 | 348,560 |
Total liabilities | 34,095,656 | 31,079,399 |
Stockholders’ Equity | ||
Preferred equity | 194,112 | 193,195 |
Common stock | 1,752 | 1,752 |
Surplus | 1,710,075 | 1,713,851 |
Retained earnings | 2,830,877 | 2,672,601 |
Accumulated other comprehensive (loss) | (255,391) | (10,317) |
Treasury stock, at cost | (527,473) | (546,229) |
Total common equity | 3,759,840 | 3,831,658 |
Total stockholders’ equity | 3,953,952 | 4,024,853 |
Total liabilities and stockholders’ equity | $ 38,049,607 | $ 35,104,253 |
Preferred shares authorized (par value $1.00 per share) | 750,000 | 750,000 |
Preferred shares issued and outstanding | 200,000 | 200,000 |
Common shares authorized (par value $0.01 per share) | 250,000,000 | 250,000,000 |
Common shares issued | 175,216,409 | 175,216,409 |
Common shares outstanding | 150,328,196 | 149,342,641 |
Preferred shares, par value | $ 1 | $ 1 |
Common shares, par value | $ 0.01 | $ 0.01 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2022 | Dec. 31, 2021 |
Preferred shares, par value | $ 1 | $ 1 |
Common shares, par value | $ 0.01 | $ 0.01 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Interest income | ||||
Interest and fees on loans | $ 275,666 | $ 174,643 | $ 643,239 | $ 522,920 |
Interest and dividends on investment securities | ||||
Taxable | 19,221 | 8,745 | 54,009 | 24,600 |
Tax-exempt | 16,538 | 14,613 | 49,025 | 43,141 |
Other interest | 3,284 | 2,281 | 7,696 | 5,802 |
Total interest income | 314,708 | 200,282 | 753,969 | 596,462 |
Interest expense | ||||
Interest on deposits | 26,000 | 4,427 | 37,590 | 14,945 |
Interest on federal funds purchased and securities sold under agreements to repurchase | 756 | 48 | 1,200 | 103 |
Interest on other short-term funding | 1 | 8 | 2 | 21 |
Interest on FHLB advances | 20,792 | 8,962 | 38,663 | 27,979 |
Interest on long-term funding | 2,722 | 3,163 | 8,182 | 14,323 |
Total interest expense | 50,270 | 16,607 | 85,637 | 57,371 |
Net interest income | 264,439 | 183,675 | 668,332 | 539,092 |
Provision for credit losses | 16,998 | (24,010) | 13,006 | (82,018) |
Net interest income after provision for credit losses | 247,440 | 207,685 | 655,326 | 621,110 |
Noninterest income | ||||
Noninterest Income In Scope of Topic 606 | 49,011 | 53,099 | 152,974 | 158,383 |
Capital markets, net | 7,675 | 7,114 | 24,331 | 20,928 |
Mortgage banking, net | 2,098 | 10,657 | 16,635 | 42,710 |
Bank and corporate owned life insurance | 1,827 | 2,760 | 8,004 | 8,551 |
Asset gains, net | 18 | 5,228 | 1,883 | 10,024 |
Investment securities gains (losses), net | 5,664 | 0 | 5,676 | (16) |
Gains on sale of branches, net(a) | 0 | 0 | 0 | 1,038 |
Other | 2,527 | 2,205 | 6,613 | 8,425 |
Total noninterest income | 70,788 | 82,076 | 220,713 | 250,862 |
Noninterest expense | ||||
Personnel | 118,243 | 107,880 | 335,720 | 318,900 |
Technology | 22,694 | 19,927 | 65,401 | 60,902 |
Occupancy | 13,717 | 15,814 | 43,948 | 46,649 |
Business development and advertising | 6,778 | 6,156 | 17,388 | 15,522 |
Equipment | 4,921 | 5,200 | 14,841 | 16,199 |
Legal and professional | 4,159 | 4,304 | 14,118 | 17,495 |
Loan and foreclosure costs | 1,631 | 1,616 | 5,121 | 6,508 |
FDIC assessment | 5,800 | 5,000 | 16,300 | 13,350 |
Other intangible amortization | 2,203 | 2,203 | 6,608 | 6,642 |
Other | 15,645 | 9,793 | 31,057 | 25,547 |
Total noninterest expense | 195,791 | 177,892 | 550,503 | 527,713 |
Income before income taxes | 122,438 | 111,870 | 325,536 | 344,259 |
Income tax expense | 26,163 | 23,060 | 68,176 | 70,142 |
Net income | 96,275 | 88,809 | 257,360 | 274,117 |
Preferred stock dividends | 2,875 | 4,155 | 8,625 | 14,236 |
Net income available to common equity | $ 93,400 | $ 84,655 | $ 248,735 | $ 259,880 |
Earnings per common share | ||||
Basic | $ 0.62 | $ 0.56 | $ 1.66 | $ 1.70 |
Diluted | $ 0.62 | $ 0.56 | $ 1.65 | $ 1.69 |
Average common shares outstanding | ||||
Basic | 149,321 | 150,046 | 149,063 | 151,473 |
Diluted | 150,262 | 151,143 | 150,205 | 152,701 |
Wealth management fees | ||||
Noninterest income | ||||
Noninterest Income In Scope of Topic 606 | $ 19,984 | $ 22,110 | $ 63,719 | $ 67,229 |
Service charges and deposit account fees | ||||
Noninterest income | ||||
Noninterest Income In Scope of Topic 606 | 15,029 | 16,962 | 48,392 | 47,366 |
Card-based fees | ||||
Noninterest income | ||||
Noninterest Income In Scope of Topic 606 | 11,512 | 11,147 | 32,933 | 31,920 |
Card-based fees | 11,479 | 11,113 | 32,847 | 31,838 |
Other fee-based revenue | ||||
Noninterest income | ||||
Noninterest Income In Scope of Topic 606 | 2,486 | 2,880 | 7,930 | 11,868 |
Card-based fees | $ 4,487 | $ 3,929 | $ 12,613 | $ 12,769 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 96,275 | $ 88,809 | $ 257,360 | $ 274,117 |
AFS investment securities | ||||
Net unrealized (losses) | (100,092) | (19,827) | (268,413) | (35,829) |
Unrealized (losses) on AFS securities transferred to HTM securities | 0 | 0 | (67,604) | 0 |
Amortization of net unrealized losses on AFS securities transferred to HTM securities | 2,888 | 172 | 7,269 | 1,335 |
Reclassification adjustment for net losses (gains) realized in net income | 0 | 0 | (12) | 16 |
Income tax benefit | 24,810 | 4,975 | 83,906 | 8,548 |
Other comprehensive (loss) on AFS securities | (72,394) | (14,681) | (244,854) | (25,930) |
Defined benefit pension and postretirement obligations | ||||
Amortization of prior service cost | (82) | (37) | (244) | (111) |
Amortization of actuarial loss | 347 | 1,346 | 494 | 3,446 |
Income tax (expense) | (474) | (330) | (470) | (836) |
Other comprehensive income (loss) on pension and postretirement obligations | (209) | 979 | (221) | 2,498 |
Total other comprehensive (loss) | (72,603) | (13,702) | (245,074) | (23,431) |
Comprehensive income | $ 23,672 | $ 75,107 | $ 12,286 | $ 250,685 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Series C Preferred Stock | Series D Preferred Stock | Series E Preferred Stock | Series F Preferred Stock | Board Authorized Purchase Program [Member] | Performance/Service Based RSAs, RSA, | Cumulative Effect, Period Of Adoption, Adjustment | Preferred Equity | Preferred Equity Series C Preferred Stock | Preferred Equity Series D Preferred Stock | Common Stock | Surplus | Retained Earnings | Retained Earnings Series C Preferred Stock | Retained Earnings Series D Preferred Stock | Retained Earnings Cumulative Effect, Period Of Adoption, Adjustment | Accumulated Other Comprehensive (Loss) | Treasury Stock | Treasury Stock Board Authorized Purchase Program [Member] | Treasury Stock Performance/Service Based RSAs, RSA, |
Beginning balance at Dec. 31, 2020 | $ 4,090,933 | $ 353,512 | $ 1,752 | $ 1,720,329 | $ 2,458,920 | $ 12,618 | $ (456,198) | ||||||||||||||
Comprehensive (loss): | |||||||||||||||||||||
Net income | 94,301 | 94,301 | |||||||||||||||||||
Net other comprehensive (loss) during period | (16,811) | (16,811) | |||||||||||||||||||
Comprehensive income | 77,490 | ||||||||||||||||||||
Common stock issued | |||||||||||||||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 10,556 | (16,986) | 0 | 27,542 | |||||||||||||||||
Purchase of treasury stock, | $ (17,973) | $ (3,593) | $ (17,973) | $ (3,593) | |||||||||||||||||
Cash dividends | |||||||||||||||||||||
Common stock | (27,870) | (27,870) | |||||||||||||||||||
Preferred stock(b) | (5,207) | (5,207) | |||||||||||||||||||
Stock-based compensation expense, net | 3,444 | 3,444 | |||||||||||||||||||
Ending balance at Mar. 31, 2021 | 4,127,780 | 353,512 | 1,752 | 1,706,786 | 2,520,144 | (4,193) | (450,222) | ||||||||||||||
Cash dividends | |||||||||||||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.3828125 | $ 0.3359375 | $ 0.3671875 | $ 0.3515625 | |||||||||||||||||
Beginning balance at Dec. 31, 2020 | 4,090,933 | 353,512 | 1,752 | 1,720,329 | 2,458,920 | 12,618 | (456,198) | ||||||||||||||
Comprehensive (loss): | |||||||||||||||||||||
Net income | 274,117 | 274,117 | |||||||||||||||||||
Net other comprehensive (loss) during period | (23,431) | (23,431) | |||||||||||||||||||
Comprehensive income | 250,685 | ||||||||||||||||||||
Ending balance at Sep. 30, 2021 | 3,994,961 | 193,195 | 1,752 | 1,711,867 | 2,628,421 | (10,813) | (529,461) | ||||||||||||||
Beginning balance at Mar. 31, 2021 | 4,127,780 | 353,512 | 1,752 | 1,706,786 | 2,520,144 | (4,193) | (450,222) | ||||||||||||||
Comprehensive (loss): | |||||||||||||||||||||
Net income | 91,007 | 91,007 | |||||||||||||||||||
Net other comprehensive (loss) during period | 7,082 | 7,082 | |||||||||||||||||||
Comprehensive income | 98,088 | ||||||||||||||||||||
Common stock issued | |||||||||||||||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 7,618 | (3,632) | 0 | 11,250 | |||||||||||||||||
Purchase of treasury stock, | (29,972) | (856) | (29,972) | (856) | |||||||||||||||||
Cash dividends | |||||||||||||||||||||
Common stock | (27,822) | (27,822) | |||||||||||||||||||
Preferred stock(b) | (4,875) | (4,875) | |||||||||||||||||||
Stock-based compensation expense, net | 5,092 | 5,092 | |||||||||||||||||||
Ending balance at Jun. 30, 2021 | 4,110,052 | 290,200 | 1,752 | 1,708,246 | 2,576,766 | 2,889 | (469,801) | ||||||||||||||
Cash dividends | |||||||||||||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.3197115 | 0.3359375 | 0.3671875 | 0.3515625 | |||||||||||||||||
Stock Redeemed or Called During Period, Value | $ (65,000) | $ (63,313) | $ (1,687) | ||||||||||||||||||
Net income | 88,809 | 88,809 | |||||||||||||||||||
Net other comprehensive (loss) during period | (13,702) | (13,702) | |||||||||||||||||||
Comprehensive income | 75,107 | ||||||||||||||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 455 | 6 | 0 | 449 | |||||||||||||||||
Purchase of treasury stock, | $ (59,998) | (112) | $ (59,998) | (112) | |||||||||||||||||
Common stock | (30,546) | (30,546) | |||||||||||||||||||
Preferred stock(b) | (4,155) | (4,155) | |||||||||||||||||||
Stock-based compensation expense, net | 3,616 | 3,616 | |||||||||||||||||||
Ending balance at Sep. 30, 2021 | 3,994,961 | 193,195 | 1,752 | 1,711,867 | 2,628,421 | (10,813) | (529,461) | ||||||||||||||
Cash dividends | |||||||||||||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.2842548 | 0.3671875 | 0.3515625 | ||||||||||||||||||
Stock Redeemed or Called During Period, Value | $ (99,458) | $ (97,004) | $ (2,454) | ||||||||||||||||||
Beginning balance at Dec. 31, 2021 | 4,024,853 | 193,195 | 1,752 | 1,713,851 | 2,672,601 | (10,317) | (546,229) | ||||||||||||||
Beginning balance (Mortgage Servicing Rights, Accounting Policy Change From At Cost to Fair Value) at Dec. 31, 2021 | 4,026,566 | $ 1,713 | 193,195 | 1,752 | 1,713,851 | 2,674,314 | $ 1,713 | (10,317) | (546,229) | ||||||||||||
Comprehensive (loss): | |||||||||||||||||||||
Net income | 74,262 | 74,262 | |||||||||||||||||||
Net other comprehensive (loss) during period | (126,708) | (126,708) | |||||||||||||||||||
Comprehensive income | (52,445) | ||||||||||||||||||||
Common stock issued | |||||||||||||||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 6,654 | (11,911) | 18,565 | ||||||||||||||||||
Purchase of treasury stock, | (5,193) | (5,193) | |||||||||||||||||||
Cash dividends | |||||||||||||||||||||
Common stock | (30,583) | (30,583) | |||||||||||||||||||
Preferred stock(b) | (2,875) | (2,875) | |||||||||||||||||||
Stock-based compensation expense, net | 6,164 | 6,164 | |||||||||||||||||||
Ending balance at Mar. 31, 2022 | 3,948,287 | 193,195 | 1,752 | 1,708,104 | 2,715,118 | (137,024) | (532,858) | ||||||||||||||
Cash dividends | |||||||||||||||||||||
Preferred Stock, Dividends, Per Share, Cash Paid | $ 0.3671875 | $ 0.3515625 | |||||||||||||||||||
Beginning balance at Dec. 31, 2021 | 4,024,853 | 193,195 | 1,752 | 1,713,851 | 2,672,601 | (10,317) | (546,229) | ||||||||||||||
Beginning balance (Mortgage Servicing Rights, Accounting Policy Change From At Cost to Fair Value) at Dec. 31, 2021 | 4,026,566 | $ 1,713 | 193,195 | 1,752 | 1,713,851 | 2,674,314 | $ 1,713 | (10,317) | (546,229) | ||||||||||||
Comprehensive (loss): | |||||||||||||||||||||
Net income | 257,360 | 257,360 | |||||||||||||||||||
Net other comprehensive (loss) during period | (245,074) | (245,074) | |||||||||||||||||||
Comprehensive income | 12,286 | ||||||||||||||||||||
Ending balance at Sep. 30, 2022 | 3,953,952 | 194,112 | 1,752 | 1,710,075 | 2,830,877 | (255,391) | (527,473) | ||||||||||||||
Beginning balance at Mar. 31, 2022 | 3,948,287 | 193,195 | 1,752 | 1,708,104 | 2,715,118 | (137,024) | (532,858) | ||||||||||||||
Comprehensive (loss): | |||||||||||||||||||||
Net income | 86,824 | 86,824 | |||||||||||||||||||
Net other comprehensive (loss) during period | (45,764) | (45,764) | |||||||||||||||||||
Comprehensive income | 41,060 | ||||||||||||||||||||
Common stock issued | |||||||||||||||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 139 | (1,771) | 1,910 | ||||||||||||||||||
Purchase of treasury stock, | (884) | (884) | |||||||||||||||||||
Cash dividends | |||||||||||||||||||||
Common stock | (30,331) | (30,331) | |||||||||||||||||||
Preferred stock(b) | (2,875) | (2,875) | |||||||||||||||||||
Stock-based compensation expense, net | 3,986 | 3,986 | |||||||||||||||||||
Ending balance at Jun. 30, 2022 | 3,959,382 | 193,195 | 1,752 | 1,710,319 | 2,768,736 | (182,788) | (531,832) | ||||||||||||||
Comprehensive (loss): | |||||||||||||||||||||
Net income | 96,275 | 96,275 | |||||||||||||||||||
Net other comprehensive (loss) during period | (72,603) | (72,603) | |||||||||||||||||||
Comprehensive income | 23,672 | ||||||||||||||||||||
Common stock issued | |||||||||||||||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 1,266 | (3,274) | 4,540 | ||||||||||||||||||
Purchase of treasury stock, | $ (181) | $ (181) | |||||||||||||||||||
Cash dividends | |||||||||||||||||||||
Common stock | (30,342) | (30,342) | |||||||||||||||||||
Preferred stock(b) | (2,875) | (2,875) | |||||||||||||||||||
Stock-based compensation expense, net | 3,030 | 3,030 | |||||||||||||||||||
Stockholders' Equity, Other | 0 | (916) | 916 | ||||||||||||||||||
Ending balance at Sep. 30, 2022 | $ 3,953,952 | $ 194,112 | $ 1,752 | $ 1,710,075 | $ 2,830,877 | $ (255,391) | $ (527,473) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Cash Flow From Operating Activities | |||||||
Net income | $ 96,275 | $ 74,262 | $ 88,809 | $ 94,301 | $ 257,360 | $ 274,117 | |
Adjustments to reconcile net income to net cash provided by operating activities | |||||||
Provision for credit losses | 16,998 | (24,010) | 13,006 | (82,018) | |||
Depreciation and amortization | 33,743 | 36,109 | |||||
Change in MSRs valuation(a) | (22,348) | (12,231) | |||||
Amortization of other intangible assets | 2,203 | 2,203 | 6,608 | 6,642 | |||
Amortization and accretion on earning assets, funding, and other, net | 13,280 | 12,184 | |||||
Net amortization of tax credit investments | 25,916 | 25,196 | |||||
Losses (gains) on sales of investment securities, net | (260) | 16 | |||||
Asset (gains), net | (18) | (5,228) | (1,883) | (10,024) | |||
(Gains) on sale of branches, net | 0 | 0 | 0 | (1,038) | |||
(Gain) loss on mortgage banking activities, net | 5,712 | (32,304) | |||||
Mortgage loans originated and acquired for sale | (535,694) | (1,345,158) | |||||
Proceeds from sales of mortgage loans held for sale | 619,940 | 1,348,006 | |||||
Changes in certain assets and liabilities | |||||||
(Increase) decrease in interest receivable | (35,254) | 11,252 | |||||
(Decrease) increase in interest payable | 1,795 | (13,287) | |||||
(Decrease) increase in expense payable | (17,994) | 24,509 | |||||
Decrease in net derivative position | 320,972 | 82,122 | |||||
Net change in other assets and other liabilities | 37,430 | 40,049 | |||||
Net cash provided by operating activities | 722,330 | 364,141 | |||||
Cash Flow From Investing Activities | |||||||
Net decrease (increase) in loans | (3,595,331) | 804,497 | |||||
Purchases of | |||||||
AFS securities | (511,401) | (1,985,700) | |||||
HTM securities | (245,826) | (250,259) | |||||
Federal Home Loan Bank and Federal Reserve Bank stocks and equity securities | (111,057) | (9) | |||||
Premises, equipment, and software, net of disposals | (45,441) | (34,337) | |||||
Proceeds from | |||||||
Sales of AFS and equity securities | 1,320 | 158,743 | |||||
Prepayments, calls, and maturities of AFS securities | 392,275 | 927,053 | |||||
Prepayments, calls, and maturities of HTM securities | 153,163 | 243,063 | |||||
Sales, prepayments, calls, and maturities of other assets | 31,732 | 18,149 | |||||
Net change in tax credit and alternative investments | (50,386) | (45,655) | |||||
Net cash (used in) investing activities | (3,980,951) | (162,040) | |||||
Cash Flow From Financing Activities | |||||||
Net increase in deposits | 732,347 | 1,400,162 | |||||
Net decrease in deposits due to branch sales | 0 | (31,083) | |||||
Net increase (decrease) in short-term funding | (69,902) | 70,179 | |||||
Net increase in short-term FHLB advances | 2,583,000 | 0 | |||||
Repayment of long-term FHLB advances | (414,004) | (18,276) | |||||
Proceeds from long-term FHLB advances | 1,838 | 6,576 | |||||
(Repayment) proceeds of finance lease principal | 327 | (1,056) | |||||
Repayments of Senior Debt | 0 | (300,000) | |||||
Proceeds from issuance of common stock for stock-based compensation plans | 8,059 | 18,629 | |||||
Payments for Repurchase of Redeemable Preferred Stock | 0 | 164,458 | |||||
Cash dividends on common stock | (91,256) | (86,238) | |||||
Cash dividends on preferred stock | (8,625) | (14,236) | |||||
Net cash provided by financing activities | 2,735,525 | 767,695 | |||||
Net increase (decrease) in cash and cash equivalents | (523,096) | 969,796 | |||||
Cash and cash equivalents at beginning of period | 1,025,515 | 716,048 | 1,025,515 | 716,048 | $ 716,048 | ||
Cash and cash equivalents at end of period(b) | 502,419 | 1,685,843 | 502,419 | 1,685,843 | $ 1,025,515 | ||
Supplemental disclosures of cash flow information | |||||||
Cash paid for interest | 83,337 | 69,470 | |||||
Cash paid for income and franchise taxes | 6,087 | 56,262 | |||||
Loans and bank premises transferred to OREO | 5,052 | 33,794 | |||||
Capitalized mortgage servicing rights | 6,316 | 11,761 | |||||
Loans transferred from held for sale into portfolio, net | 1,789 | 10,071 | |||||
Transfer of AFS securities to HTM securities | 1,600,000 | 1,621,990 | 0 | ||||
Unsettled trades to purchase securities | 4,130 | 9,855 | |||||
Gain on sale and net write-up of equity securities | 5,690 | 0 | |||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 14,703 | 0 | |||||
Retained Earnings | |||||||
Cash Flow From Operating Activities | |||||||
Net income | $ 96,275 | $ 74,262 | $ 88,809 | $ 94,301 | 257,360 | 274,117 | |
ABRC | |||||||
Proceeds from | |||||||
Sales, prepayments, calls, and maturities of other assets | 0 | 2,415 | |||||
Performance/Service Based RSAs, RSA, | |||||||
Cash Flow From Financing Activities | |||||||
Purchase of treasury stock, open market purchases | (6,259) | (4,562) | |||||
Board Authorized Purchase Program [Member] | |||||||
Cash Flow From Financing Activities | |||||||
Purchase of treasury stock, open market purchases | $ 0 | $ (107,943) |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly the financial position, results of operations and comprehensive income, changes in stockholders’ equity, and cash flows of the Corporation and Parent Company for the periods presented, and all such adjustments are of a normal recurring nature. The consolidated financial statements include the accounts of all subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. Estimates that are particularly susceptible to significant change include the determination of the ACLL and MSRs valuation. Management has evaluated subsequent events for potential recognition or disclosure. Within the tables presented, certain columns and rows may not sum due to the use of rounded numbers for disclosure purposes. |
Acquisitions
Acquisitions | 9 Months Ended |
Sep. 30, 2022 | |
Business Combinations [Abstract] | |
Acquisitions and Dispositions | Acquisitions and Dispositions Acquisitions: The Corporation did not have any acquisitions during the first nine months of 2022 or during 2021. Dispositions: 2021 On March 1, 2021, the Corporation closed on the sale of its wealth management subsidiary, Whitnell, to Rockefeller for a purchase price of $8 million. Associated reported a first quarter 2021 pre-tax gain of $2 million, included in asset gains, net on the consolidated statements of income, in conjunction with the sale. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies The accounting and reporting policies of the Corporation conform to U.S. GAAP and to general practice within the financial services industry. A discussion of these policies can be found in Note 1 Summary of Significant Accounting Policies included in the Corporation’s 2021 Annual Report on Form 10-K. As a result of the irrevocable election to account for MSRs under the fair value measurement methodology, as permitted under ASC 860-50-35-3, there has been a change to the Corporation's significant accounting policies since December 31, 2021, which is described below. Mortgage Servicing Rights The Corporation sells residential mortgage loans in the secondary market and typically retains the rights to service the loans sold. Upon sale, a MSRs asset is capitalized, which represents the then current fair value of future net cash flows expected to be realized for performing servicing activities. On January 1, 2022, the Corporation made the irrevocable election to account for its MSRs asset under the fair value measurement method. As a result of the change, a cumulative effect adjustment of $2 million, increasing retained earnings on the consolidated balance sheets, was recognized. Under this methodology, changes in the fair value are recognized in earnings as they occur through mortgage banking, net on the consolidated statements of income. MSRs are not traded in active markets. A cash flow model is used to determine fair value. Key assumptions and estimates, including projected prepayment speeds, assumed servicing costs, ancillary income, costs to service delinquent loans, costs of foreclosure, and discount rates with option-adjusted spreads, used by this model are based on current market sources. Assumptions used to value MSRs are considered significant unobservable inputs. A separate third-party model is used to estimate prepayment speeds based on interest rates, housing turnover rates, estimated loan curtailment, anticipated defaults and other relevant factors. Fair value estimates from outside sources are received periodically to corroborate the results of the valuation model. New Accounting Pronouncements Adopted There were no applicable material accounting pronouncements adopted by the Corporation since December 31, 2021. Future Accounting Pronouncements The expected impact of applicable material accounting pronouncements recently issued or proposed but not yet required to be adopted are discussed in the table below. To the extent that the adoption of new accounting standards materially affects the Corporation's financial condition, results of operations, liquidity or disclosures, the impacts are discussed in the applicable sections of this financial review. Standard Description Date of anticipated adoption Effect on financial statements ASU 2022-02 Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures The FASB issued these amendments to eliminate accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty, and to require that an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, and should be applied prospectively, except as provided in the next sentence. For the transition method related to the recognition and measurement of TDRs, an entity has the option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. Early adoption is permitted if an entity has adopted the amendments in Update 2016-03, including adoption in an interim period. 1st Quarter 2023 Adoption of this amendment is not expected to have a material impact on the Corporation's results of operation, financial position or liquidity, but will result in additional disclosure requirements related to gross charge offs by vintage year and the removal of TDR disclosures, replaced by additional disclosures on the types of modifications of loans to borrowers experiencing financial difficulties. The Corporation intends to adopt this update prospectively. |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings Per Common Share Earnings per common share are calculated utilizing the two-class method. Basic earnings per common share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per common share are calculated by dividing the sum of distributed earnings to common shareholders and undistributed earnings allocated to common shareholders by the weighted average number of common shares outstanding adjusted for the dilutive effect of common stock awards (outstanding stock options and unvested restricted stock awards). Presented below are the calculations for basic and diluted earnings per common share: Three Months Ended Sep 30, Nine Months Ended Sep 30, (In Thousands, except per share data) 2022 2021 2022 2021 Net income $ 96,275 $ 88,809 $ 257,360 $ 274,117 Preferred stock dividends (2,875) (4,155) (8,625) (14,236) Net income available to common equity $ 93,400 $ 84,655 $ 248,735 $ 259,880 Common shareholder dividends (30,149) (30,323) (90,647) (85,604) Unvested share-based payment awards (194) (222) (609) (634) Undistributed earnings $ 63,057 $ 54,109 $ 157,479 $ 173,642 Undistributed earnings allocated to common shareholders $ 62,648 $ 53,716 $ 156,454 $ 172,436 Undistributed earnings allocated to unvested share-based payment awards 409 393 1,025 1,206 Undistributed earnings $ 63,057 $ 54,109 $ 157,479 $ 173,642 Basic Distributed earnings to common shareholders $ 30,149 $ 30,323 $ 90,647 $ 85,604 Undistributed earnings allocated to common shareholders 62,648 53,716 156,454 172,436 Total common shareholders earnings, basic $ 92,796 $ 84,039 $ 247,102 $ 258,040 Diluted Distributed earnings to common shareholders $ 30,149 $ 30,323 $ 90,647 $ 85,604 Undistributed earnings allocated to common shareholders 62,648 53,716 156,454 172,436 Total common shareholders earnings, diluted $ 92,796 $ 84,039 $ 247,102 $ 258,040 Weighted average common shares outstanding 149,321 150,046 149,063 151,473 Effect of dilutive common stock awards 942 1,096 1,141 1,228 Diluted weighted average common shares outstanding 150,262 151,143 150,205 152,701 Basic earnings per common share $ 0.62 $ 0.56 $ 1.66 $ 1.70 Diluted earnings per common share $ 0.62 $ 0.56 $ 1.65 $ 1.69 |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2022 | |
Retirement Benefits [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The fair values of stock options and restricted stock awards are amortized as compensation expense on a straight-line basis over the vesting period of the grants. For colleagues who meet the definition of retirement eligible under the 2017 Incentive Compensation Plan and the 2020 Incentive Compensation Plan, expenses related to stock options and restricted stock awards are fully recognized on the date the colleague meets the definition of normal or early retirement. Compensation expense recognized is included in personnel expense on the consolidated statements of income. A summary of the Corporation’s stock option activity for the nine months ended September 30, 2022 is presented below: Stock Options Shares (a) Weighted Average Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (a) Outstanding at December 31, 2021 4,814 $ 20.72 5.96 years $ 12,532 Exercised 436 17.61 Forfeited or expired 62 19.83 Outstanding at September 30, 2022 4,316 $ 21.05 5.14 years $ 4,506 Options Exercisable at September 30, 2022 3,735 $ 21.35 4.82 years $ 3,547 (a) In thousands Intrinsic value represents the amount by which the fair market value of the underlying stock exceeds the exercise price of the stock option. For the nine months ended September 30, 2022, the intrinsic value of stock options exercised was $3 million compared to $6 million for the nine months ended September 30, 2021. For the nine months ended September 30, 2022, the total fair value of stock options vested was $2 million compared to $3 million for the nine months ended September 30, 2021. The Corporation recognized compensation expense for the vesting of stock options of approximately $587,000 for the nine months ended September 30, 2022, compared to $1 million for the nine months ended September 30, 2021. Compensation expense for the nine months ended September 30, 2022 related to accelerated vesting of stock options for retirement eligible colleagues was immaterial. At September 30, 2022, the Corporation had approximately $563,000 of unrecognized compensation expense related to stock options that is expected to be recognized over the remaining requisite service periods that extend predominately through the first quarter of 2024. The Corporation also has issued time-based and performance-based restricted stock awards under the 2017 Incentive Compensation Plan and subsequent 2020 Incentive Compensation Plan. Performance awards are based on performance goals determined by the Corporation's Compensation and Benefits Committee, with vesting ranging from a minimum of 0% to a maximum of 150% of the target award. Performance awards are valued utilizing a Monte Carlo simulation model to estimate fair value of the awards at the grant date. The following table summarizes information about the Corporation’s restricted stock awards activity for the nine months ended September 30, 2022: Restricted Stock Awards Shares (a) Weighted Average Outstanding at December 31, 2021 2,635 $ 19.87 Granted 785 22.91 Vested 948 21.83 Forfeited 109 20.30 Outstanding at September 30, 2022 2,363 $ 20.91 (a) In thousands The Corporation amortizes the expense related to restricted stock awards as compensation expense over the vesting period specified in the grant's award agreement. Performance-based restricted stock awards granted during 2021 and 2022 will cliff-vest after the three The Corporation has the ability to issue shares from treasury or new shares upon the exercise of stock options or the granting of restricted stock awards. The Board of Directors has authorized management to repurchase shares of the Corporation’s common stock in the market, to be made available for issuance in connection with the Corporation’s employee incentive plans and for other corporate purposes. The repurchase of shares, if any, will be based on market and investment opportunities, capital levels, growth prospects, and regulatory constraints. Such repurchases may occur from time to time in open market purchases, block transactions, private transactions, accelerated share repurchase programs, or similar facilities. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities Investment securities are designated as AFS, HTM, or equity on the consolidated balance sheets at the time of purchase. The amortized cost and fair values of AFS and HTM securities at September 30, 2022 were as follows: ($ in Thousands) Amortized Gross Gross Fair Value AFS investment securities U. S. Treasury securities $ 124,403 $ — $ (16,119) $ 108,284 Agency securities 15,000 — (1,601) 13,399 Obligations of state and political subdivisions (municipal securities) 356,539 28 (15,669) 340,898 Residential mortgage-related securities FNMA / FHLMC 1,882,668 413 (227,020) 1,656,061 GNMA 82,263 — (4,234) 78,029 Commercial mortgage-related securities FNMA / FHLMC 19,123 — (1,837) 17,286 GNMA 111,286 — (4,192) 107,094 Asset backed securities FFELP 163,314 — (4,757) 158,556 SBA 4,797 20 (45) 4,772 Other debt securities 3,000 — (67) 2,933 Total AFS investment securities $ 2,762,393 $ 461 $ (275,542) $ 2,487,312 HTM investment securities U. S. Treasury securities $ 998 $ — $ (66) $ 932 Obligations of state and political subdivisions (municipal securities) 1,737,135 273 (272,360) 1,465,048 Residential mortgage-related securities FNMA / FHLMC 961,946 32,561 (182,409) 812,099 GNMA 43,168 27 (3,872) 39,323 Private-label 369,711 12,167 (74,906) 306,972 Commercial mortgage-related securities FNMA/FHLMC 762,377 16,045 (176,822) 601,600 GNMA 76,217 716 (7,147) 69,787 Total HTM investment securities $ 3,951,553 $ 61,791 $ (717,582) $ 3,295,760 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 Gross Gross Fair Value AFS investment securities U. S. Treasury securities $ 124,291 $ — $ (1,334) $ 122,957 Agency securities 15,000 — (103) 14,897 Obligations of state and political subdivisions (municipal securities) 381,517 18,940 — 400,457 Residential mortgage-related securities FNMA / FHLMC 2,709,399 3,729 (21,249) 2,691,879 GNMA 66,189 1,591 — 67,780 Private-label 332,028 31 (2,335) 329,724 Commercial mortgage-related securities FNMA / FHLMC 357,240 2,686 (9,302) 350,623 GNMA 165,439 1,360 — 166,799 Asset backed securities FFELP 177,974 475 (1,123) 177,325 SBA 6,594 39 (54) 6,580 Other debt securities 3,000 — (6) 2,994 Total AFS investment securities $ 4,338,671 $ 28,850 $ (35,506) $ 4,332,015 HTM investment securities 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 / FHLMC 34,347 1,792 — 36,139 GNMA 48,053 1,578 — 49,631 Commercial mortgage-related securities FNMA / FHLMC 425,937 122 (6,659) 419,400 GNMA 100,907 1,799 (200) 102,506 Total HTM investment securities $ 2,239,003 $ 118,471 $ (8,809) $ 2,348,664 Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The expected maturities of AFS and HTM securities at September 30, 2022, are shown below: AFS HTM ($ in Thousands) Amortized Fair Amortized Fair Due in one year or less $ 9,023 $ 9,000 $ 16,969 $ 16,931 Due after one year through five years 105,078 97,875 32,282 31,668 Due after five years through ten years 347,517 323,983 164,216 157,427 Due after ten years 37,325 34,656 1,524,666 1,259,955 Total debt securities 498,943 465,514 1,738,134 1,465,980 Residential mortgage-related securities FNMA / FHLMC 1,882,668 1,656,061 961,946 812,099 GNMA 82,263 78,029 43,168 39,323 Private-label — — 369,711 306,972 Commercial mortgage-related securities FNMA / FHLMC 19,123 17,286 762,377 601,600 GNMA 111,286 107,094 76,217 69,787 Asset backed securities FFELP 163,314 158,556 — — SBA 4,797 4,772 — — Total investment securities $ 2,762,393 $ 2,487,312 $ 3,951,553 $ 3,295,760 Ratio of fair value to amortized cost 90.0 % 83.4 % On a quarterly basis, the Corporation refreshes the credit quality of each HTM security. The following table summarizes the credit quality indicators of HTM securities at amortized cost at September 30, 2022: ($ in Thousands) AAA AA A Not Rated Total U. S. Treasury securities $ 998 $ — $ — $ — $ 998 Obligations of state and political subdivisions (municipal securities) 807,240 920,765 7,972 1,158 1,737,135 Residential mortgage-related securities FNMA / FHLMC 961,946 — — — 961,946 GNMA 43,168 — — — 43,168 Private-label 369,711 — — — 369,711 Commercial mortgage-related securities FNMA / FHLMC 762,377 — — — 762,377 GNMA 76,217 — — — 76,217 Total HTM securities $ 3,021,657 $ 920,765 $ 7,972 $ 1,158 $ 3,951,553 The following table summarizes the credit quality indicators of HTM securities at amortized cost at December 31, 2021: ($ in Thousands) AAA AA A Not Rated Total 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 / FHLMC 34,347 — — — 34,347 GNMA 48,053 — — — 48,053 Commercial mortgage-related securities FNMA / FHLMC 425,937 — — — 425,937 GNMA 100,907 — — — 100,907 Total HTM securities $ 1,312,642 $ 914,591 $ 10,873 $ 896 $ 2,239,003 The following table summarizes gross realized gains and losses on AFS securities, the gain on sale and net write-up of equity securities, and proceeds from the sale of investment securities for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Gross gains on AFS securities $ — $ — $ 21 $ 421 Gross (losses) on AFS securities — — (8) (437) Gain on sale and net write-up of equity securities 5,664 — 5,664 — Investment securities gains (losses), net $ 5,664 $ — $ 5,676 $ (16) Proceeds from sales of investment securities $ 248 $ — $ 1,309 $ 158,708 During the third quarter of 2022, the Corporation sold its Visa Class B restricted shares obtained in the acquisition of First Staunton, which were carried at a zero-cost basis. The remaining shares, which are carried at fair value, were subsequently written up to reflect the new observable price resulting from that sale. During the second quarter of 2021, the Corporation sold $107 million of lower yielding FFELP student loan asset backed securities at an immaterial gain and reinvested the proceeds into higher yielding mortgage backed securities. During the first quarter of 2021, the Corporation sold $51 million of lower yielding U.S. Treasury and Agency securities at an immaterial loss to take advantage of the steeper yield curve by reinvesting the proceeds into similar but higher yielding, longer duration securities. Investment securities with a carrying value of $2.4 billion and $2.3 billion at September 30, 2022 and December 31, 2021, respectively, were pledged to secure certain deposits or for other purposes. Accrued interest receivable on HTM securities totaled $16 million and $15 million at September 30, 2022 and December 31, 2021, respectively. Accrued interest receivable on AFS securities totaled $8 million and $9 million at September 30, 2022 and December 31, 2021, respectively. Accrued interest receivable on both HTM and AFS securities is included in interest receivable on the consolidated balance sheets. There was no interest income reversed for investments going into nonaccrual at both September 30, 2022 and 2021. A security is considered past due once it is 30 days past due under the terms of the agreement. At both September 30, 2022 and December 31, 2021, the Corporation had no past due HTM securities. The allowance for credit losses on HTM securities was approximately $61,000 at September 30, 2022 and approximately $55,000 at December 31, 2021, attributable entirely to the Corporation's municipal securities, included in HTM investment securities, net, at amortized cost on the consolidated balance sheets. The Corporation also holds U.S. Treasury, municipal, and mortgage-related securities issued by the U.S. government or a GSE which are backed by the full faith and credit of the U.S. government and private-label residential mortgage-related securities that have credit enhancement which covers the first 15% of losses and, as a result, no allowance for credit losses has been recorded related to these securities. The following represents gross unrealized losses and the related fair value of AFS and HTM securities, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position, at September 30, 2022: Less than 12 months 12 months or more Total ($ in Thousands) Number Unrealized Fair Number Unrealized Fair Unrealized Fair AFS investment securities U.S. Treasury securities 1 $ (651) $ 4,293 6 $ (15,468) $ 103,991 $ (16,119) $ 108,284 Agency securities — — — 1 (1,601) 13,399 (1,601) 13,399 Obligations of state and political subdivisions (municipal securities) 605 (15,669) 328,806 — — — (15,669) 328,806 Residential mortgage-related securities FNMA / FHLMC 68 (109,670) 827,116 40 (117,350) 802,215 (227,020) 1,629,330 GNMA 17 (4,234) 78,029 — — — (4,234) 78,029 Commercial mortgage-related securities FNMA / FHLMC 1 (1,837) 17,286 — — — (1,837) 17,286 GNMA 36 (4,192) 107,094 — — — (4,192) 107,094 Asset backed securities FFELP 5 (1,735) 66,349 10 (3,022) 92,207 (4,757) 158,556 SBA 1 — 350 7 (45) 2,218 (45) 2,569 Other debt securities 2 (21) 1,979 1 (46) 954 (67) 2,933 Total 736 $ (138,010) $ 1,431,302 65 $ (137,533) $ 1,014,983 $ (275,542) $ 2,446,286 HTM investment securities U.S. Treasury securities 1 $ (66) $ 932 — $ — $ — $ (66) $ 932 Obligations of state and political subdivisions (municipal securities) 1,123 (244,555) 1,350,294 29 (27,805) 53,371 (272,360) 1,403,665 Residential mortgage-related securities FNMA / FHLMC 87 (105,032) 496,903 11 (77,377) 314,998 (182,409) 811,900 GNMA 78 (3,872) 39,323 — — — (3,872) 39,323 Private-label 16 (59,733) 252,382 2 (15,173) 54,590 (74,906) 306,972 Commercial mortgage-related securities FNMA / FHLMC 13 (76,439) 221,584 30 (100,382) 380,012 (176,822) 601,596 GNMA 13 (5,252) 58,883 1 (1,895) 10,904 (7,147) 69,787 Total 1,331 $ (494,950) $ 2,420,301 73 $ (222,632) $ 813,874 $ (717,582) $ 3,234,175 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 months 12 months or more Total ($ in Thousands) Number Unrealized Fair Number Unrealized Fair Unrealized Fair AFS investment securities U.S. Treasury securities 7 $ (1,334) $ 122,957 — $ — $ — $ (1,334) $ 122,957 Agency securities 1 (103) 14,897 — — — (103) 14,897 Residential mortgage-related securities FNMA / FHLMC 74 (21,249) 2,172,837 — — — (21,249) 2,172,837 Private-label 12 (2,335) 248,617 — — — (2,335) 248,617 FNMA / FHLMC commercial mortgage-related securities 19 (9,302) 328,568 — — — (9,302) 328,568 Asset backed securities FFELP 4 (256) 64,282 8 (867) 62,576 (1,123) 126,858 SBA — — — 9 (54) 3,902 (54) 3,902 Other debt securities 3 (6) 2,994 — — — (6) 2,994 Total 120 $ (34,586) $ 2,955,152 17 $ (920) $ 66,478 $ (35,506) $ 3,021,630 HTM investment securities Obligations of state and political subdivisions (municipal securities) 49 $ (1,951) $ 112,038 — $ — $ — $ (1,951) $ 112,038 Commercial mortgage-related securities FNMA/FHLMC 18 (6,272) 388,072 1 (387) 10,775 (6,659) 398,847 GNMA 5 (200) 33,468 — — — (200) 33,468 Total 72 $ (8,422) $ 533,577 1 $ (387) $ 10,775 $ (8,809) $ 544,352 The Corporation reviews the AFS investment securities portfolio on a quarterly basis to monitor its credit exposure. A determination as to whether a security’s decline in fair value is the result of credit risk takes into consideration numerous factors and the relative significance of any single factor can vary by security. Some factors the Corporation may consider in this impairment analysis include the extent to which the security has been in an unrealized loss position, the change in security rating, financial condition and near-term prospects of the issuer, as well as the security and industry specific economic conditions. Based on the Corporation’s evaluation, management does not believe any unrealized losses at September 30, 2022 represent credit deterioration as these unrealized losses are primarily attributable to changes in interest rates and the current market conditions. The Corporation does not intend to sell nor does it believe that it will be required to sell the securities in an unrealized loss position before recovery of their amortized cost basis. FHLB and Federal Reserve Bank stocks: The Corporation is required to maintain Federal Reserve Bank stock and FHLB stock as a member bank of both the Federal Reserve System and the FHLB, and in amounts as required by these institutions. These equity securities are “restricted” in that they can only be sold back to the respective institutions or another member institution at par. Therefore, they are less liquid than other marketable equity securities and their fair value is equal to amortized cost. The Corporation had FHLB stock of $193 million and $82 million at September 30, 2022 and December 31, 2021, respectively. The Corporation had Federal Reserve Bank stock of $87 million at both September 30, 2022 and December 31, 2021. Accrued interest receivable on FHLB stock totaled $2 million and approximately $975,000 at September 30, 2022 and December 31, 2021, respectively. There was approximately $819,000 of accrued interest receivable on Federal Reserve Bank Stock at September 30, 2022 and none at December 31, 2021. Accrued interest receivable on both FHLB stock and Federal Reserve Bank stock is included in interest receivable on the consolidated balance sheets. Equity Securities Equity securities with readily determinable fair values: The Corporation's portfolio of equity securities with readily determinable fair values is primarily comprised of CRA Qualified Investment mutual funds and other mutual funds. At September 30, 2022 and December 31, 2021, the Corporation had equity securities with readily determinable fair values of $6 million and $5 million, respectively. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Loans | Loans The period end loan composition was as follows: ($ in Thousands) Sep 30, 2022 Dec 31, 2021 PPP $ 1,050 $ 66,070 Asset-based lending & equipment finance (a) 380,830 178,027 Commercial and industrial 9,190,045 8,208,289 Commercial real estate — owner occupied 999,786 971,326 Commercial and business lending 10,571,711 9,423,711 Commercial real estate — investor 5,064,289 4,384,569 Real estate construction 1,835,159 1,808,976 Commercial real estate lending 6,899,449 6,193,545 Total commercial 17,471,159 15,617,256 Residential mortgage 8,314,902 7,567,310 Auto finance 1,117,136 143,045 Home equity 612,608 595,615 Other consumer 301,475 301,723 Total consumer 10,346,121 8,607,693 Total loans $ 27,817,280 $ 24,224,949 (a) Dec 31, 2021 does not include equipment finance . Accrued interest receivable on loans totaled $88 million at September 30, 2022, and $55 million at December 31, 2021, and is included in interest receivable on the consolidated balance sheets. Interest accrued but not received for loans placed on nonaccrual is reversed against interest income. The amount of accrued interest reversed totaled approximately $189,000 and $328,000 for the three and nine months ended September 30, 2022, respectively, and approximately $91,000 and $329,000 for the three and nine months ended September 30, 2021, respectively. The following table presents commercial and consumer loans by credit quality indicator by origination year at September 30, 2022: Term Loans Amortized Cost Basis by Origination Year (a) ($ in Thousands) Rev Loans Converted to Term (a) Rev Loans Amortized Cost Basis YTD 2022 2021 2020 2019 2018 Prior Total PPP: (b) Risk rating: Pass $ — $ — $ 21 $ 960 $ 28 $ — $ — $ — $ 1,009 Potential Problem — — 40 — — — — — 40 PPP $ — $ — $ 62 $ 960 $ 28 $ — $ — $ — $ 1,050 Asset-based lending & equipment finance: Risk rating: Pass $ — $ 29,680 $ 202,201 $ 112,162 $ 16,349 $ 765 $ 133 $ — $ 361,291 Special Mention — — — — 274 — — — 274 Potential Problem — 1,266 1,500 — 16,500 — — — 19,266 Asset-based lending & equipment finance $ — $ 30,946 $ 203,701 $ 112,162 $ 33,123 $ 765 $ 133 $ — $ 380,830 Commercial and industrial: Risk rating: Pass $ 488 $ 2,281,083 $ 2,283,710 $ 2,422,332 $ 593,095 $ 639,386 $ 353,799 $ 452,229 $ 9,025,634 Special Mention — 9,329 98 14,885 4,675 — 21 30,577 59,585 Potential Problem 154 14,557 17,644 4,615 6,105 39,087 2 7,240 89,250 Nonaccrual 3,979 — 5,379 — 10,182 — — 15 15,576 Commercial and industrial $ 4,621 $ 2,304,968 $ 2,306,830 $ 2,441,833 $ 614,058 $ 678,473 $ 353,821 $ 490,062 $ 9,190,045 Commercial real estate - owner occupied: Risk rating: Pass $ — $ 13,623 $ 179,172 $ 243,087 $ 165,701 $ 163,570 $ 88,718 $ 109,126 $ 962,997 Special Mention — — — — 6,995 1,506 — — 8,502 Potential Problem — 850 475 8,104 3,375 10,473 374 4,635 28,287 Commercial real estate - owner occupied $ — $ 14,473 $ 179,648 $ 251,191 $ 176,071 $ 175,549 $ 89,092 $ 113,761 $ 999,786 Commercial and business lending: Risk rating: Pass $ 488 $ 2,324,387 $ 2,665,105 $ 2,778,541 $ 775,174 $ 803,720 $ 442,650 $ 561,355 $ 10,350,931 Special Mention — 9,329 98 14,885 11,944 1,506 21 30,577 68,360 Potential Problem 154 16,673 19,660 12,719 25,980 49,560 376 11,875 136,843 Nonaccrual 3,979 — 5,379 — 10,182 — — 15 15,576 Commercial and business lending $ 4,621 $ 2,350,388 $ 2,690,241 $ 2,806,146 $ 823,280 $ 854,787 $ 443,047 $ 603,822 $ 10,571,711 Commercial real estate - investor: Risk rating: Pass $ 38,623 $ 64,392 $ 1,285,655 $ 1,568,948 $ 815,494 $ 526,134 $ 289,786 $ 261,243 $ 4,811,653 Special Mention — — 43,113 24,786 8,296 20,855 — 126 97,176 Potential Problem — — 442 44,388 19,432 25,285 19,025 9,409 117,982 Nonaccrual — — 805 36,230 — 444 — — 37,479 Commercial real estate - investor $ 38,623 $ 64,392 $ 1,330,015 $ 1,674,352 $ 843,223 $ 572,718 $ 308,811 $ 270,778 $ 5,064,289 Real estate construction: Risk rating: Pass $ — $ 26,489 $ 568,302 $ 931,799 $ 225,552 $ 21,908 $ 2,572 $ 10,321 $ 1,786,943 Special Mention — — — — 12,014 36,061 — — 48,076 Nonaccrual — — — — — — — 141 141 Real estate construction $ — $ 26,489 $ 568,302 $ 931,799 $ 237,566 $ 57,969 $ 2,572 $ 10,462 $ 1,835,159 Term Loans Amortized Cost Basis by Origination Year (a) ($ in Thousands) Rev Loans Converted to Term (a) Rev Loans Amortized Cost Basis YTD 2022 2021 2020 2019 2018 Prior Total Commercial real estate lending: Risk rating: Pass $ 38,623 $ 90,882 $ 1,853,957 $ 2,500,747 $ 1,041,046 $ 548,041 $ 292,358 $ 271,564 $ 6,598,595 Special Mention — — 43,113 24,786 20,310 56,916 — 126 145,251 Potential Problem — — 442 44,388 19,432 25,285 19,025 9,409 117,982 Nonaccrual — — 805 36,230 — 444 — 141 37,620 Commercial real estate lending $ 38,623 $ 90,882 $ 1,898,317 $ 2,606,151 $ 1,080,789 $ 630,687 $ 311,383 $ 281,241 $ 6,899,449 Total commercial: Risk rating: Pass $ 39,111 $ 2,415,268 $ 4,519,062 $ 5,279,288 $ 1,816,220 $ 1,351,761 $ 735,008 $ 832,919 $ 16,949,527 Special Mention — 9,329 43,211 39,671 32,254 58,423 21 30,703 213,611 Potential Problem 154 16,673 20,101 57,108 45,412 74,846 19,401 21,285 254,825 Nonaccrual 3,979 — 6,183 36,230 10,182 444 — 156 53,196 Total commercial $ 43,243 $ 2,441,270 $ 4,588,558 $ 5,412,296 $ 1,904,069 $ 1,485,474 $ 754,429 $ 885,063 $ 17,471,159 Residential mortgage: Risk rating: Pass $ — $ — $ 1,175,995 $ 2,094,652 $ 1,750,699 $ 832,300 $ 379,935 $ 2,022,844 $ 8,256,426 Special Mention — — — — — — — 146 146 Potential Problem — — 324 201 — 746 626 948 2,845 Nonaccrual — — 4,815 2,479 4,886 3,984 6,411 32,910 55,485 Residential mortgage $ — $ — $ 1,181,134 $ 2,097,333 $ 1,755,585 $ 837,030 $ 386,972 $ 2,056,849 $ 8,314,902 Auto finance: Risk rating: Pass $ — $ — $ 998,531 $ 114,979 $ 416 $ 1,564 $ 598 $ 103 $ 1,116,192 Special Mention — — 509 132 — 1 — — 642 Nonaccrual — — 149 128 — 18 7 — 302 Auto finance $ — $ — $ 999,189 $ 115,240 $ 416 $ 1,583 $ 605 $ 103 $ 1,117,136 Home equity: Risk rating: Pass $ 5,637 $ 502,745 $ 22,620 $ 4,873 $ 1,787 $ 6,113 $ 7,174 $ 58,873 $ 604,186 Special Mention 456 221 — 18 97 — — 575 912 Potential Problem — — — — — 35 5 146 185 Nonaccrual 1,077 50 36 15 67 229 340 6,587 7,325 Home equity $ 7,170 $ 503,016 $ 22,657 $ 4,906 $ 1,951 $ 6,377 $ 7,519 $ 66,181 $ 612,608 Other consumer: Risk rating: Pass $ 97 $ 199,564 $ 6,028 $ 5,093 $ 2,469 $ 1,323 $ 227 $ 86,169 $ 300,873 Special Mention 1 466 5 21 3 8 — 1 504 Nonaccrual 8 53 — 10 8 18 — 9 98 Other consumer $ 106 $ 200,084 $ 6,033 $ 5,124 $ 2,480 $ 1,349 $ 227 $ 86,179 $ 301,475 Total consumer: Risk rating: Pass $ 5,734 $ 702,309 $ 2,203,175 $ 2,219,597 $ 1,755,371 $ 841,300 $ 387,934 $ 2,167,990 $ 10,277,677 Special Mention 458 687 513 172 100 9 — 723 2,204 Potential Problem — — 324 201 — 781 631 1,094 3,030 Nonaccrual 1,085 103 5,001 2,632 4,961 4,249 6,758 39,506 63,210 Total consumer $ 7,277 $ 703,100 $ 2,209,013 $ 2,222,602 $ 1,760,432 $ 846,338 $ 395,323 $ 2,209,313 $ 10,346,121 Total loans: Risk rating: Pass $ 44,845 $ 3,117,577 $ 6,722,237 $ 7,498,885 $ 3,571,591 $ 2,193,062 $ 1,122,942 $ 3,000,909 $ 27,227,203 Special Mention 458 10,016 43,724 39,843 32,354 58,431 21 31,426 215,816 Potential Problem 154 16,673 20,425 57,309 45,412 75,626 20,032 22,378 257,855 Nonaccrual 5,063 103 11,184 38,861 15,143 4,693 6,758 39,662 116,406 Total loans $ 50,520 $ 3,144,369 $ 6,797,570 $ 7,634,899 $ 3,664,501 $ 2,331,812 $ 1,149,753 $ 3,094,376 $ 27,817,280 (a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination. (b) The Corporation’s policy is to assign risk ratings at the borrower level. PPP loans are 100% guaranteed by the SBA and therefore the Corporation considers these loans to have a risk profile similar to pass rated loans. The following table presents commercial and consumer loans by credit quality indicator by origination year at December 31, 2021: Term Loans Amortized Cost Basis by Origination Year (a) ($ in Thousands) Rev Loans Converted to Term (a) Rev Loans Amortized Cost Basis 2021 2020 2019 2018 2017 Prior Total PPP: (b) Risk rating: Pass $ — $ — $ 44,921 $ 18,610 $ — $ — $ — $ — $ 63,531 Special Mention — — 212 281 — — — — 493 Potential Problem — — 2,000 — — — — — 2,000 Nonaccrual — — — 46 — — — — 46 PPP $ — $ — $ 47,134 $ 18,936 $ — $ — $ — $ — $ 66,070 Commercial and industrial: (c) Risk rating: Pass $ 2,084 $ 2,371,605 $ 2,631,753 $ 852,758 $ 986,300 $ 710,491 $ 177,568 $ 493,876 $ 8,224,351 Special Mention — 7,068 5,900 1,695 — — — 2,811 17,474 Potential Problem 2,706 26,387 23,415 19,960 46,296 20,924 104 1,172 138,258 Nonaccrual 76 — 5,996 161 52 24 — — 6,233 Commercial and industrial $ 4,867 $ 2,405,059 $ 2,667,064 $ 874,575 $ 1,032,647 $ 731,439 $ 177,671 $ 497,860 $ 8,386,316 Commercial real estate - owner occupied: Risk rating: Pass $ 10,092 $ 30,869 $ 261,418 $ 178,424 $ 187,073 $ 110,169 $ 54,538 $ 117,011 $ 939,503 Special Mention — 226 — 4,628 — — — 245 5,100 Potential Problem — 526 5,953 4,721 10,047 727 2,204 2,546 26,723 Commercial real estate - owner occupied $ 10,092 $ 31,621 $ 267,371 $ 187,773 $ 197,120 $ 110,896 $ 56,742 $ 119,802 $ 971,326 Commercial and business lending: Risk rating: Pass $ 12,176 $ 2,402,474 $ 2,938,092 $ 1,049,792 $ 1,173,373 $ 820,660 $ 232,106 $ 610,887 $ 9,227,385 Special Mention — 7,294 6,112 6,604 — — — 3,056 23,066 Potential Problem 2,706 26,913 31,368 24,681 56,343 21,651 2,307 3,718 166,981 Nonaccrual 76 — 5,996 207 52 24 — — 6,279 Commercial and business lending $ 14,958 $ 2,436,680 $ 2,981,569 $ 1,081,284 $ 1,229,767 $ 842,335 $ 234,414 $ 617,662 $ 9,423,711 Commercial real estate - investor: Risk rating: Pass $ 37,430 $ 105,521 $ 1,650,936 $ 685,423 $ 867,606 $ 414,079 $ 139,320 $ 230,452 $ 4,093,337 Special Mention — — 57,163 27,384 33,016 72 — 6,781 124,416 Potential Problem — — 21,309 9,860 22,243 34,591 3,564 14,573 106,138 Nonaccrual — — 45,502 8,158 6,820 — — 197 60,677 Commercial real estate - investor $ 37,430 $ 105,521 $ 1,774,910 $ 730,825 $ 929,685 $ 448,741 $ 142,883 $ 252,003 $ 4,384,569 Real estate construction: Risk rating: Pass $ — $ 31,773 $ 843,664 $ 614,469 $ 204,337 $ 48,647 $ 2,229 $ 12,212 $ 1,757,331 Special Mention — — 2,203 11,929 — 15,885 41 2 30,060 Potential Problem — — 37 120 21,251 — — — 21,408 Nonaccrual — — — — — — — 177 177 Real estate construction $ — $ 31,773 $ 845,903 $ 626,518 $ 225,588 $ 64,532 $ 2,270 $ 12,392 $ 1,808,976 Commercial real estate lending: Risk rating: Pass $ 37,430 $ 137,294 $ 2,494,600 $ 1,299,893 $ 1,071,943 $ 462,726 $ 141,549 $ 242,664 $ 5,850,668 Special Mention — — 59,366 39,313 33,016 15,957 41 6,784 154,476 Potential Problem — — 21,345 9,980 43,494 34,591 3,564 14,573 127,546 Nonaccrual — — 45,502 8,158 6,820 — — 374 60,855 Commercial real estate lending $ 37,430 $ 137,294 $ 2,620,814 $ 1,357,343 $ 1,155,273 $ 513,273 $ 145,153 $ 264,395 $ 6,193,545 Term Loans Amortized Cost Basis by Origination Year (a) ($ in Thousands) Rev Loans Converted to Term (a) Rev Loans Amortized Cost Basis 2021 2020 2019 2018 2017 Prior Total Total commercial: Risk rating: Pass $ 49,606 $ 2,539,768 $ 5,432,693 $ 2,349,685 $ 2,245,316 $ 1,283,386 $ 373,655 $ 853,551 $ 15,078,053 Special Mention — 7,294 65,478 45,917 33,016 15,957 41 9,840 177,543 Potential Problem 2,706 26,913 52,713 34,660 99,837 56,241 5,871 18,291 294,527 Nonaccrual 76 — 51,498 8,365 6,872 24 — 374 67,134 Total commercial $ 52,388 $ 2,573,974 $ 5,602,382 $ 2,438,627 $ 2,385,040 $ 1,355,608 $ 379,567 $ 882,057 $ 15,617,256 Residential mortgage: Risk rating: Pass $ — $ — $ 1,771,447 $ 1,945,029 $ 974,188 $ 428,459 $ 673,447 $ 1,716,419 $ 7,508,989 Special Mention — — — — — 285 — 461 746 Potential Problem — — 475 332 404 265 81 658 2,214 Nonaccrual — — 1,993 2,911 4,479 6,224 6,019 33,734 55,362 Residential mortgage $ — $ — $ 1,773,915 $ 1,948,272 $ 979,071 $ 435,233 $ 679,547 $ 1,751,272 $ 7,567,310 Auto finance: Risk rating: Pass $ — $ — $ 137,952 $ 707 $ 2,675 $ 1,200 $ 352 $ 107 $ 142,993 Nonaccrual — — — — 36 15 — — 52 Auto finance $ — $ — $ 137,952 $ 707 $ 2,711 $ 1,216 $ 352 $ 107 $ 143,045 Home equity: Risk rating: Pass $ 6,728 $ 498,970 $ 1,216 $ 1,401 $ 7,640 $ 8,742 $ 7,660 $ 61,251 $ 586,880 Special Mention 133 100 — 102 4 — — 638 844 Potential Problem 6 — 6 — — 13 — 146 165 Nonaccrual 925 35 9 92 211 305 302 6,772 7,726 Home equity $ 7,792 $ 499,104 $ 1,232 $ 1,595 $ 7,856 $ 9,059 $ 7,962 $ 68,807 $ 595,615 Other consumer: Risk rating: Pass $ 443 $ 180,312 $ 9,297 $ 4,987 $ 2,884 $ 371 $ 265 $ 103,075 $ 301,191 Special Mention 7 351 — 4 — — — 7 363 Nonaccrual 6 120 — 14 7 — 19 11 170 Other consumer $ 456 $ 180,783 $ 9,297 $ 5,005 $ 2,890 $ 371 $ 284 $ 103,093 $ 301,723 Total consumer: Risk rating: Pass $ 7,171 $ 679,353 $ 1,919,912 $ 1,952,124 $ 987,387 $ 438,771 $ 681,725 $ 1,880,781 $ 8,540,053 Special Mention 140 451 — 106 4 285 — 1,106 1,952 Potential Problem 6 — 481 332 404 277 81 804 2,379 Nonaccrual 931 154 2,003 3,017 4,733 6,545 6,340 40,517 63,309 Total consumer $ 8,248 $ 679,959 $ 1,922,396 $ 1,955,579 $ 992,528 $ 445,878 $ 688,145 $ 1,923,208 $ 8,607,693 Total loans: Risk rating: Pass $ 56,777 $ 3,219,121 $ 7,352,605 $ 4,301,809 $ 3,232,703 $ 1,722,157 $ 1,055,380 $ 2,734,332 $ 23,618,106 Special Mention 140 7,745 65,478 46,023 33,021 16,241 41 10,946 179,495 Potential Problem 2,713 26,913 53,194 34,992 100,240 56,519 5,952 19,095 296,905 Nonaccrual 1,006 154 53,501 11,382 11,605 6,569 6,340 40,891 130,443 Total loans $ 60,636 $ 3,253,933 $ 7,524,778 $ 4,394,206 $ 3,377,569 $ 1,801,486 $ 1,067,713 $ 2,805,265 $ 24,224,949 (a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination. (b) The Corporation’s policy is to assign risk ratings at the borrower level. PPP loans are 100% guaranteed by the SBA and therefore the Corporation considers these loans to have a risk profile similar to pass rated loans. (c) Includes asset-based lending & equipment finance. Factors that are important to managing overall credit quality are sound loan underwriting and administration, systematic monitoring of existing loans and commitments, effective loan review on an ongoing basis, early identification of potential problems, and appropriate policies for ACLL, nonaccrual loans, and charge offs. For commercial loans, management has determined the pass credit quality indicator to include credits exhibiting acceptable financial statements, cash flow, and leverage. If any risk exists, it is mitigated by the loan structure, collateral, monitoring, or control. For consumer loans, performing loans include credits performing in accordance with the original contractual terms. Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Special mention credits have potential weaknesses that warrant specific attention from management. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credit. Accruing TDRs could be pass or special mention, depending on the risk rating on the loan. Potential problem loans are considered inadequately protected by the current net worth and paying capacity of the obligor or the collateral pledged. These loans generally have a well-defined weakness, or weaknesses, which may jeopardize liquidation of the debt, and are characterized by the distinct possibility the Corporation will sustain some loss if the deficiencies are not corrected. Management has determined commercial loan relationships in nonaccrual status, and commercial and consumer loan relationships with their terms restructured in a TDR, meet the criteria to be individually evaluated. Commercial loans classified as special mention, potential problem, and nonaccrual are reviewed at a minimum on a quarterly basis, while pass credits, which are performing rated credits, are generally reviewed on an annual basis or more frequently if the loan renewal is less than one year or if otherwise warranted. The following table presents loans by past due status at September 30, 2022: Accruing ($ in Thousands) Current 30-59 Days 60-89 Days 90+ Days Nonaccrual (a)(b) Total PPP $ 798 $ 231 $ 21 $ — $ — $ 1,050 Asset-based lending & equipment finance 380,830 — — — — 380,830 Commercial and industrial 9,172,739 1,505 104 121 15,576 9,190,045 Commercial real estate - owner occupied 999,786 — — — — 999,786 Commercial and business lending 10,554,153 1,736 124 121 15,576 10,571,711 Commercial real estate - investor 5,026,810 — — — 37,479 5,064,289 Real estate construction 1,834,975 43 — — 141 1,835,159 Commercial real estate lending 6,861,786 43 — — 37,620 6,899,449 Total commercial 17,415,939 1,779 124 121 53,196 17,471,159 Residential mortgage 8,252,714 6,371 146 186 55,485 8,314,902 Auto finance 1,110,628 5,564 642 — 302 1,117,136 Home equity 601,049 3,322 912 — 7,325 612,608 Other consumer 298,675 995 596 1,111 98 301,475 Total consumer 10,263,065 16,252 2,296 1,297 63,210 10,346,121 Total loans $ 27,679,004 $ 18,032 $ 2,421 $ 1,417 $ 116,406 $ 27,817,280 (a) Of the total nonaccrual loans, $72 million, or 62%, were current with respect to payment at September 30, 2022. (b) No interest income was recognized on nonaccrual loans for the three and nine months ended September 30, 2022. In addition, there were $21 million of nonaccrual loans for which there was no related ACLL at September 30, 2022. The following table presents loans by past due status at December 31, 2021: Accruing ($ in Thousands) Current 30-59 Days 60-89 Days 90+ Days Nonaccrual (a)(b) Total PPP $ 65,941 $ 40 $ 43 $ — $ 46 $ 66,070 Asset-based lending 178,027 — — — — 178,027 Commercial and industrial (c) 8,201,272 579 54 151 6,233 8,208,289 Commercial real estate - owner occupied 971,163 163 — — — 971,326 Commercial and business lending 9,416,403 781 97 151 6,279 9,423,711 Commercial real estate - investor 4,323,276 142 474 — 60,677 4,384,569 Real estate construction 1,807,178 1,618 2 — 177 1,808,976 Commercial real estate lending 6,130,454 1,759 477 — 60,855 6,193,545 Total commercial 15,546,857 2,541 573 151 67,134 15,617,256 Residential mortgage 7,505,654 5,500 669 126 55,362 7,567,310 Auto finance 142,982 11 — — 52 143,045 Home equity 584,177 2,867 844 — 7,726 595,615 Other consumer 298,261 1,835 472 986 170 301,723 Total consumer 8,531,074 10,213 1,985 1,111 63,309 8,607,693 Total loans $ 24,077,931 $ 12,754 $ 2,558 $ 1,263 $ 130,443 $ 24,224,949 (a) Of the total nonaccrual loans, $84 million, or 65%, were current with respect to payment at December 31, 2021. (b) No interest income was recognized on nonaccrual loans for the year ended December 31, 2021. In addition, there were $9 million of nonaccrual loans for which there was no related ACLL at December 31, 2021. (c) Includes equipment finance. Troubled Debt Restructurings Loans are considered restructured loans if concessions have been granted to borrowers that are experiencing financial difficulty. The following table presents nonaccrual and performing restructured loans by loan portfolio: Sep 30, 2022 Dec 31, 2021 ($ in Thousands) Performing Nonaccrual Restructured Loans (a) Performing Nonaccrual Restructured Loans (a) Commercial and industrial $ 14,829 $ — $ 8,687 $ — Commercial real estate — owner occupied 369 — 967 — Commercial real estate — investor 733 3,268 12,866 3,093 Real estate construction 165 42 242 45 Residential mortgage 16,169 17,372 16,316 13,483 Home equity 2,103 967 2,648 806 Other consumer 764 — 803 — Total restructured loans $ 35,132 $ 21,650 $ 42,530 $ 17,426 (a) Nonaccrual restructured loans have been included within nonaccrual loans. The Corporation had a recorded investment of $11 million in loans modified as TDRs during the nine months ended September 30, 2022, of which $1 million were in accrual status, included in pass or special mention based on their risk rating within the credit quality tables, and $10 million were in nonaccrual within the credit quality tables, pending a sustained period of repayment. The following table provides the number of loans modified in a TDR by loan portfolio, the recorded investment, and unpaid principal balance for the nine months ended September 30, 2022 and 2021: Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 ($ in Thousands) Number Recorded Investment (a) Unpaid Principal Balance (b) Number Recorded Investment (a) Unpaid Principal Balance (b) Commercial and industrial 2 $ 265 $ 265 4 $ 638 $ 638 Commercial real estate — investor 1 547 573 4 1,682 1,682 Residential mortgage 44 9,641 9,833 55 10,434 10,460 Home equity 12 390 412 7 916 963 Total loans modified 59 $ 10,844 $ 11,083 70 $ 13,670 $ 13,744 (a) Represents post-modification outstanding recorded investment. Restructured loan modifications may include payment schedule modifications, interest rate concessions, maturity date extensions, modification of note structure (A/B Note), non-reaffirmed Chapter 7 bankruptcies, principal reduction, or some combination of these concessions. During the nine months ended September 30, 2022, restructured loan modifications of commercial loans primarily included maturity date extensions and payment schedule modifications. Restructured loan modifications of consumer loans primarily included maturity date extensions, interest rate concessions, non-reaffirmed Chapter 7 bankruptcies, or a combination of these concessions for the nine months ended September 30, 2022. The following table provides the number of loans modified in a TDR during the previous twelve months which subsequently defaulted during the nine months ended September 30, 2022 and 2021, and the recorded investment in these restructured loans as of September 30, 2022 and 2021: Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 ($ in Thousands) Number of Recorded Number of Recorded Residential mortgage 4 $ 1,178 2 $ 200 All loans modified in a TDR are individually evaluated for impairment. The nature and extent of the impairment of restructured loans, including those which have experienced a subsequent payment default, are considered in the determination of an appropriate level of the ACLL. The Corporation analyzes loans for classification as a probable TDR. This analysis includes identifying customers that are showing possible liquidity issues in the near term without reasonable access to alternative sources of capital. At September 30, 2022, the Corporation had no loans meeting this classification compared to $7 million at December 31, 2021. Allowance for Credit Losses on Loans The ACLL is comprised of the allowance for loan losses and the allowance for unfunded commitments. The level of the ACLL represents management’s estimate of an amount appropriate to provide for expected lifetime credit losses in the loan portfolio at the balance sheet date. The expected lifetime credit losses are the product of multiplying the Corporation's estimates of probability of default, loss given default, and the individual loan level exposure at default on an undiscounted basis. A main factor in the determination of the ACLL is the economic forecast. The Corporation utilized Moody's baseline forecast, updated during August 2022 and reviewed against the September 2022 forecast for material updates, in the allowance model. The forecast is applied over a 2 year reasonable and supportable period with straight-line reversion to the historical losses over the second year of the period. The allowance for unfunded commitments is maintained at a level believed by management to be sufficient to absorb expected lifetime losses related to unfunded credit facilities (including unfunded loan commitments and letters of credit). See Note 12 for additional information on the change in the allowance for unfunded commitments. The following table presents a summary of the changes in the ACLL by portfolio segment for the nine months ended September 30, 2022: ($ in Thousands) Dec 31, 2021 Charge offs Recoveries Net Charge offs Provision for credit losses Sep 30, 2022 ACLL / Loans Allowance for loan losses PPP $ 51 $ — $ — $ — $ (50) $ 1 Asset-based lending & equipment finance 4,182 — — — 1,406 5,588 Commercial and industrial 85,624 (3,644) 4,157 512 16,107 102,243 Commercial real estate — owner occupied 11,473 — 10 10 (2,852) 8,631 Commercial and business lending 101,330 (3,644) 4,167 523 14,611 116,464 Commercial real estate — investor 72,803 — — — (12,032) 60,771 Real estate construction 37,643 (48) 90 43 (1,266) 36,419 Commercial real estate lending 110,446 (48) 90 43 (13,299) 97,190 Total commercial 211,776 (3,692) 4,258 565 1,313 213,654 Residential mortgage 40,787 (287) 752 465 (2,345) 38,907 Auto finance 1,999 (228) 53 (175) 13,917 15,741 Home equity 14,011 (524) 1,199 675 (601) 14,086 Other consumer 11,441 (2,434) 792 (1,642) 716 10,516 Total consumer 68,239 (3,472) 2,796 (676) 11,687 79,250 Total loans $ 280,015 $ (7,165) $ 7,054 $ (111) $ 13,000 $ 292,904 Allowance for unfunded commitments Asset-based lending & equipment finance $ 857 $ — $ — $ — $ 184 $ 1,042 Commercial and industrial 17,601 — — — 4 17,606 Commercial real estate — owner occupied 208 — — — (119) 89 Commercial and business lending 18,667 — — — 70 18,737 Commercial real estate — investor 936 — — — (303) 633 Real estate construction 15,586 — — — 552 16,138 Commercial real estate lending 16,522 — — — 249 16,771 Total commercial 35,189 — — — 319 35,508 Home equity 2,592 — — — — 2,592 Other consumer 1,995 — — — (319) 1,675 Total consumer 4,587 — — — (319) 4,268 Total loans $ 39,776 $ — $ — $ — $ — $ 39,776 Allowance for credit losses on loans PPP $ 51 $ — $ — $ — $ (50) $ 1 0.10 % Asset-based lending & equipment finance 5,040 — — — 1,590 6,630 1.74 % Commercial and industrial 103,225 (3,644) 4,157 512 16,112 119,849 1.30 % Commercial real estate — owner occupied 11,681 — 10 10 (2,971) 8,721 0.87 % Commercial and business lending 119,997 (3,644) 4,167 523 14,681 135,200 1.28 % Commercial real estate — investor 73,739 — — — (12,335) 61,404 1.21 % Real estate construction 53,229 (48) 90 43 (714) 52,557 2.86 % Commercial real estate lending 126,968 (48) 90 43 (13,049) 113,961 1.65 % Total commercial 246,965 (3,692) 4,258 565 1,632 249,162 1.43 % Residential mortgage 40,787 (287) 752 465 (2,345) 38,907 0.47 % Auto finance 1,999 (228) 53 (175) 13,917 15,741 1.41 % Home equity 16,603 (524) 1,199 675 (600) 16,678 2.72 % Other consumer 13,436 (2,434) 792 (1,642) 397 12,191 4.04 % Total consumer 72,825 (3,472) 2,796 (676) 11,368 83,517 0.81 % Total loans $ 319,791 $ (7,165) $ 7,054 $ (111) $ 13,000 $ 332,680 1.20 % The following table presents a summary of the changes in the ACLL by portfolio segment for the year ended December 31, 2021: ($ in Thousands) Dec 31, 2020 Charge offs Recoveries Net Charge offs Provision for credit losses Dec 31, 2021 ACLL / Loans Allowance for loan losses PPP $ 531 $ — $ — $ — $ (480) $ 51 Asset-based lending 2,077 — 412 412 1,693 4,182 Commercial and industrial (a) 140,716 (21,564) 8,152 (13,412) (41,680) 85,624 Commercial real estate — owner occupied 11,274 — 120 120 80 11,473 Commercial and business lending 154,598 (21,564) 8,684 (12,880) (40,388) 101,330 Commercial real estate — investor 93,435 (14,346) 3,162 (11,184) (9,448) 72,803 Real estate construction 59,193 (5) 126 121 (21,672) 37,643 Commercial real estate lending 152,629 (14,351) 3,288 (11,063) (31,120) 110,446 Total commercial 307,226 (35,915) 11,972 (23,943) (71,508) 211,776 Residential mortgage 42,996 (880) 841 (38) (2,170) 40,787 Auto finance 174 (22) 31 9 1,816 1,999 Home equity 18,849 (668) 2,854 2,186 (7,024) 14,011 Other consumer 14,456 (3,168) 1,267 (1,901) (1,113) 11,441 Total consumer 76,475 (4,738) 4,993 256 (8,492) 68,239 Total loans $ 383,702 $ (40,652) $ 16,965 $ (23,687) $ (80,000) $ 280,015 Allowance for unfunded commitments Asset-based lending $ 901 $ — $ — $ — $ (43) $ 857 Commercial and industrial (a) 21,411 — — — (3,809) 17,601 Commercial real estate — owner occupied 266 — — — (58) 208 Commercial and business lending 22,577 — — — (3,911) 18,667 Commercial real estate — investor 636 — — — 300 936 Real estate construction 18,887 — — — (3,301) 15,586 Commercial real estate lending 19,523 — — — (3,001) 16,522 Total commercial 42,101 — — — (6,912) 35,189 Home equity 3,118 — — — (526) 2,592 Other consumer 2,557 — — — (563) 1,995 Total consumer 5,675 — — — (1,088) 4,587 Total loans $ 47,776 $ — $ — $ — $ (8,000) $ 39,776 Allowance for credit losses on loans PPP $ 531 $ — $ — $ — $ (480) $ 51 0.08 % Asset-based lending 2,978 — 412 412 1,649 5,040 2.83 % Commercial and industrial (a) 162,126 (21,564) 8,152 (13,412) (45,490) 103,225 1.26 % Commercial real estate — owner occupied 11,539 — 120 120 22 11,681 1.20 % Commercial and business lending 177,175 (21,564) 8,684 (12,880) (44,299) 119,997 1.27 % Commercial real estate — investor 94,071 (14,346) 3,162 (11,184) (9,148) 73,739 1.68 % Real estate construction 78,080 (5) 126 121 (24,972) 53,229 2.94 % Commercial real estate lending 172,152 (14,351) 3,288 (11,063) (34,121) 126,968 2.05 % Total commercial 349,327 (35,915) 11,972 (23,943) (78,419) 246,965 1.58 % Residential mortgage 42,996 (880) 841 (38) (2,170) 40,787 0.54 % Auto finance 174 (22) 31 9 1,816 1,999 1.40 % Home equity 21,967 (668) 2,854 2,186 (7,550) 16,603 2.79 % Other consumer 17,013 (3,168) 1,267 (1,901) (1,676) 13,436 4.45 % Total consumer 82,150 (4,738) 4,993 256 (9,581) 72,825 0.85 % Total loans $ 431,478 $ (40,652) $ 16,965 $ (23,687) $ (88,000) $ 319,791 1.32 % |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill Goodwill is not amortized but is instead subject to impairment tests on at least an annual basis, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Corporation conducted its most recent annual impairment testing in May 2022, utilizing a qualitative assessment. Factors that management considered in this assessment included macroeconomic conditions, industry and market considerations, overall financial performance of the Corporation and each reporting unit (both current and projected), changes in management strategy, and changes in the composition or carrying amount of net assets. In addition, management considered the changes in both the Corporation's common stock price and in the overall bank common stock index (based on the S&P 400 Regional Bank Sub-Industry Index), as well as the Corporation's earnings per common share trend over the past year. Based on these assessments, management concluded that it is more likely than not that the estimated fair value exceeded the carrying value (including goodwill) for each reporting unit. Therefore, a step one quantitative analysis was not required. There have been no events since the May 2022 impairment test that have changed the Corporation's impairment assessment conclusion. There were no impairment charges recorded in 2021 or the first nine months of 2022. The Corporation had goodwill of $1.1 billion at both September 30, 2022 and December 31, 2021. Other Intangible Assets The Corporation has CDIs and historically had other intangible assets, both of which are amortized. For CDIs and other intangibles, changes in the gross carrying amount, accumulated amortization, and net book value were as follows: ($ in Thousands) Nine Months Ended September 30, 2022 Year Ended Dec 31, 2021 Core deposit intangibles Gross carrying amount at the beginning of period $ 88,109 $ 88,109 Accumulated amortization (36,624) (30,016) Net book value $ 51,485 $ 58,093 Amortization during the period $ 6,608 $ 8,811 Other intangibles Gross carrying amount at the beginning of period $ — $ 2,000 Reductions due to sale — (1,317) Accumulated amortization — (683) Net book value $ — $ — Amortization during the period $ — $ 33 Mortgage Servicing Rights The Corporation sells residential mortgage loans in the secondary market and typically retains the right to service the loans sold. On January 1, 2022, the Corporation made the irrevocable election to account for its MSRs under the fair value measurement method, with any change in fair value being recognized through earnings in mortgage banking, net on the consolidated statements of income. MSRs are not traded in active markets. As a result, a cash flow model is used to determine fair value. Key assumptions and estimates, projected prepayment speeds, assumed servicing costs, ancillary income, costs to service delinquent loans, costs of foreclosure, and discount rates with option-adjusted spreads, are used in measuring the fair value of the MSRs asset. These assumptions are considered significant unobservable inputs. See Note 12 for a discussion of the recourse provisions on sold residential mortgage loans. See Note 13 which further discusses fair value measurement relative to the MSRs asset. A summary of changes in the balance of the MSRs asset under the fair value measurement method for the nine months ended September 30, 2022 is as follows: ($ in Thousands) Nine Months Ended September 30, 2022 Mortgage servicing rights Mortgage servicing rights at beginning of period $ 54,862 Cumulative effect of accounting methodology change 2,296 Balance at beginning of period, adjusted $ 57,158 Additions 6,316 Paydowns (7,470) Valuation: Change in fair value model assumptions 5,715 Changes in fair value of asset 16,633 Mortgage servicing rights at end of period $ 78,352 Portfolio of residential mortgage loans serviced for others (“servicing portfolio”) $ 6,800,404 Mortgage servicing rights to servicing portfolio 1.15 % Prior to January 1, 2022, the Corporation accounted for its MSRs under the amortization methodology. Under this methodology the Corporation evaluated its MSRs asset for impairment at minimum on a quarterly basis. Impairment was assessed based on fair value at each reporting date using estimated prepayment speeds of the underlying mortgage loans serviced and stratifications based on the risk characteristics of the underlying loans (predominantly loan type and note interest rate). As mortgage interest rates fell, prepayment speeds were usually faster and the value of the MSRs asset generally decreased, requiring additional valuation reserve. Conversely, as mortgage interest rates rose, prepayment speeds were usually slower and the value of the MSRs asset generally increased, requiring less valuation reserve. A valuation allowance was established, through a charge to earnings, to the extent the amortized cost of the MSRs exceeded the estimated fair value by stratification. An other-than-temporary impairment (i.e., recoverability was considered remote when considering interest rates and loan pay off activity) was recognized as a write-down of the MSRs asset and the related valuation allowance (to the extent a valuation allowance was available) and then against earnings. A direct write-down permanently reduced the carrying value of the MSRs asset and valuation allowance, precluding subsequent recoveries. A summary of changes in the balance of the MSRs asset and the MSRs valuation allowance under the amortization method for the year ended December 31, 2021 is as follows: ($ in Thousands) Year Ended Dec 31, 2021 Mortgage servicing rights Mortgage servicing rights at beginning of period $ 59,967 Additions 16,151 Amortization (19,436) Mortgage servicing rights at end of period $ 56,682 Valuation allowance at beginning of period $ (18,006) Recoveries, net 16,186 Valuation allowance at end of period $ (1,820) Mortgage servicing rights, net $ 54,862 Fair value of mortgage servicing rights $ 57,259 Portfolio of residential mortgage loans serviced for others (“servicing portfolio”) $ 6,994,834 Mortgage servicing rights, net to servicing portfolio 0.78 % Mortgage servicing rights expense (a) $ 3,250 (a) Includes the amortization of mortgage servicing rights and additions / recoveries to the valuation allowance of mortgage servicing rights, and is a component of mortgage banking, net on the consolidated statements of income. The projections of amortization expense for CDIs and decay for MSRs are based on existing asset balances, the current interest rate environment, and prepayment speeds as of September 30, 2022. The actual expense the Corporation recognizes in any given period may be significantly different depending upon acquisition or sale activities, changes in interest rates, prepayment speeds, market conditions, regulatory requirements, and events or circumstances that indicate the carrying amount of an asset may not be recoverable. The following table shows the estimated future amortization expense for CDIs and the decay for MSRs: ($ in Thousands) Core Deposit Intangibles Mortgage Servicing Rights Three months ending December 31, 2022 $ 2,203 $ 3,585 2023 8,811 13,582 2024 8,811 11,827 2025 8,811 10,246 2026 8,811 8,800 2027 8,811 7,451 Beyond 2027 5,227 22,861 Total estimated amortization expense $ 51,485 $ 78,352 |
Short and Long-Term Funding
Short and Long-Term Funding | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Short and Long-Term Funding | Short and Long-Term Funding The following table presents the components of short-term funding (funding with original contractual maturities of one year or less) and long-term funding (funding with original contractual maturities greater than one year): ($ in Thousands) Sep 30, 2022 Dec 31, 2021 Short-Term Funding Federal funds purchased $ 505 $ 120 Securities sold under agreements to repurchase 276,169 319,412 Federal funds purchased and securities sold under agreements to repurchase 276,674 319,532 Commercial paper 7,687 34,730 Total short-term funding $ 284,361 $ 354,262 Long-Term Funding Corporation subordinated notes, at par, due 2025 $ 250,000 $ 250,000 Capitalized costs (617) (839) Subordinated debt fair value hedge liability (a) (389) — Finance leases 490 163 Total long-term funding $ 249,484 $ 249,324 Total short and long-term funding, excluding FHLB advances $ 533,844 $ 603,587 FHLB Advances Short-term FHLB advances $ 2,583,000 $ — Long-term FHLB advances 1,208,791 1,621,047 FHLB advance fair value hedge liability (a) (14,314) — Total FHLB advances $ 3,777,478 $ 1,621,047 Total short and long-term funding $ 4,311,322 $ 2,224,633 (a) For additional information on the fair value hedge liability, see Note 10. Securities Sold Under Agreements to Repurchase The Corporation enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Corporation may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Corporation to repurchase the assets. The obligation to repurchase the securities is reflected as a liability on the Corporation’s consolidated balance sheets, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts (i.e., there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities). The Corporation utilizes securities sold under agreements to repurchase to facilitate the needs of its customers. The fair value of securities pledged to secure repurchase agreements may decline. At September 30, 2022, the Corporation had pledged securities valued at 164% of the gross outstanding balance of repurchase agreements to manage this risk. The remaining contractual maturity of the securities sold under agreements to repurchase on the consolidated balance sheets as of September 30, 2022 and December 31, 2021 are presented in the following table: Overnight and Continuous ($ in Thousands) Sep 30, 2022 Dec 31, 2021 Repurchase agreements Agency mortgage-related securities $ 276,169 $ 319,412 Long-Term Funding Subordinated Notes In November 2014, the Corporation issued $250 million of 10-year subordinated notes, due January 2025, and callable October 2024. The subordinated notes have a fixed coupon interest rate of 4.25% and were issued at a discount. Finance Leases Finance leases are used in conjunction with branch operations. See Note 18 for additional disclosure regarding the Corporation’s leases. FHLB Advances |
Derivative and Hedging Activiti
Derivative and Hedging Activities | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative and Hedging Activities | Derivative and Hedging Activities The Corporation is exposed to certain risk arising from both its business operations and economic conditions. The Corporation principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Corporation manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Corporation enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the values of which are determined by interest rates. The Corporation's derivative financial instruments are used to manage differences in the amount, timing, and duration of the Corporation's known or expected cash receipts and its known or expected cash payments principally related to the Corporation's assets. The contract or notional amount of a derivative is used to determine, along with the other terms of the derivative, the amounts to be exchanged between the counterparties. The Corporation is exposed to credit risk in the event of nonperformance by counterparties to financial instruments. To mitigate the counterparty risk, contracts generally contain language outlining collateral pledging requirements for each counterparty. For non-centrally cleared derivatives, collateral must be posted when the market value exceeds certain mutually agreed upon threshold limits. Securities and cash are often pledged as collateral. The Corporation pledged $81 million and $71 million of investment securities as collateral at September 30, 2022 and December 31, 2021, respectively. The Corporation's required cash collateral was immaterial at September 30, 2022, compared to $11 million at December 31, 2021. Federal regulations require the Corporation to clear all LIBOR and compound SOFR interest rate swaps through a clearing house, if possible. For derivatives cleared through central clearing houses, the variation margin payments are legally characterized as daily settlements of the derivative rather than collateral. The Corporation's clearing agent for interest rate derivative contracts that are centrally cleared through the Chicago Mercantile Exchange and the London Clearing House settles the variation margin daily. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting and financial reporting purposes. Depending on the net position, the fair value is reported in other assets or accrued expenses and other liabilities on the consolidated balance sheets. The daily settlement of the derivative exposure does not change or reset the contractual terms of the instrument. Fair Value Hedges of Interest Rate Risk The Corporation is exposed to changes in the fair value of its fixed-rate debt due to changes in benchmark interest rates. The Corporation uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rates. Interest rate swaps designated as fair value hedges involve receiving payment of fixed-rate amounts from a counterparty in exchange for the Corporation paying variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. For derivatives designated and that qualify as fair value hedges, as allowed under U.S. GAAP, we applied the "shortcut" method of accounting, which permits the assumption of perfect effectiveness. The gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest expense. These items, along with the net interest from the derivative, are reported in the same income statement line as the fixed-rate debt expense. Derivatives to Accommodate Customer Needs The Corporation facilitates customer borrowing activity by entering into various derivative contracts which are designated as free standing derivative contracts. Free standing derivative products are entered into primarily for the benefit of commercial customers seeking to manage their exposures to interest rate risk, foreign currency, and until early 2022, commodity prices. As of the end of the first quarter of 2022, the Corporation no longer had any outstanding commodity contracts. These derivative contracts are not designated against specific assets and liabilities on the consolidated balance sheets or forecasted transactions and, therefore, do not qualify for hedge accounting treatment. Such derivative contracts are carried at fair value in other assets and accrued expenses and other liabilities on the consolidated balance sheets with changes in the fair value recorded as a component of capital markets, net, and typically include interest rate-related instruments (swaps and caps), foreign currency exchange forwards, and until the end of the first quarter of 2022, commodity contracts. See Note 11 for additional information and disclosures on balance sheet offsetting. Interest rate-related and other instruments: The Corporation provides interest rate risk management services to commercial customers, primarily forward interest rate swaps and caps. The Corporation’s market risk from unfavorable movements in interest rates related to these derivative contracts is generally economically hedged by concurrently entering into offsetting derivative contracts. The offsetting derivative contracts have identical notional values, terms, and indices. The Corporation also enters into credit risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are either a participant or a lead bank. The risk participation agreements entered into by the Corporation as a participant bank provide credit protection to the financial institution counterparty should the borrower fail to perform on its interest rate derivative contract with that financial institution. Foreign currency exchange forwards: The Corporation provides foreign currency exchange services to customers, primarily forward contracts. The Corporation's customers enter into a foreign currency exchange forward with the Corporation as a means for them to mitigate exchange rate risk. The Corporation mitigates its risk by then entering into an offsetting foreign currency exchange derivative contract. Commodity contracts: As of the end of the first quarter of 2022, the Corporation no longer had any outstanding commodity contracts. Historically, commodity contracts were entered into primarily for the benefit of commercial customers seeking to manage their exposure to fluctuating commodity prices. The Corporation mitigated its risk by then entering into an offsetting commodity derivative contract. Mortgage Derivatives Interest rate lock commitments to originate residential mortgage loans held for sale and forward commitments on residential mortgage loans are considered derivative instruments, and the fair value of these commitments is recorded in other assets and accrued expenses and other liabilities on the consolidated balance sheets with the changes in fair value recorded as a component of mortgage banking, net on the consolidated statements of income. Interest rate-related instruments for MSRs hedge: The fair value of the Corporation's MSRs asset changes in response to changes in primary mortgage loan rates and other assumptions. To mitigate the earnings volatility caused by changes in the fair value of MSRs, the Corporation designates certain financial instruments as an economic hedge. Changes in the fair value of these instruments are generally expected to partially offset changes in the fair value of MSRs and are recorded in other assets and accrued expenses and other liabilities on the consolidated balance sheets with the changes in fair value recorded as a component of mortgage banking, net on the consolidated statements of income. The following table presents the total notional amounts and gross fair values of the Corporation’s derivatives, as well as the balance sheet netting adjustments as of September 30, 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 September 30, 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. Sep 30, 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 Designated as hedging instruments Interest rate-related instruments $ — $ — $ 850,000 $ 906 $ — $ — $ — $ — Not designated as hedging instruments Interest rate-related and other instruments 4,250,397 59,618 4,535,166 264,212 3,874,781 83,626 3,874,781 26,231 Foreign currency exchange forwards 482,983 10,109 458,140 9,524 490,057 5,490 478,745 5,441 Commodity contracts — — — — 3,894 1,264 3,910 1,248 Mortgage banking (a)(b) 41,327 3,492 88,000 403 133,990 2,647 245,016 — Total not designated as hedging instruments 73,218 274,139 93,026 32,921 Gross derivatives before netting 73,218 275,045 93,026 32,921 Less: Legally enforceable master netting agreements 869 869 2,143 2,143 Less: Cash collateral pledged/received 63,699 — 1,313 11,357 Total derivative instruments, after netting $ 8,650 $ 274,176 $ 89,570 $ 19,421 At December 31, 2021, the mortgage derivative asset included approximately $30,000 of forward commitments fair value. The following table presents amounts that were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges: Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) ($ in Thousands) September 30, 2022 Other long-term funding $ (249,611) $ 389 FHLB Advances (585,686) 14,314 Total $ (835,297) $ 14,703 The Corporation terminated its $500 million fair value hedge on loans and investment securities receivables during the fourth quarter of 2019. At September 30, 2022, the amortized cost basis of the closed portfolios which had previously been used in the terminated hedging relationship was $340 million and is included in loans on the consolidated balance sheets. This amount includes $2 million of hedging adjustments on the discontinued hedging relationships, which are not presented in the table above. The table below identifies the effect of fair value hedge accounting on the Corporation's consolidated statements of income for the three and nine months ended September 30, 2022 and 2021: Location and Amount Recognized on the Consolidated Statements of Income in Three months ended Sep 30, Nine Months Ended Sep 30, 2022 2021 2022 2021 ($ in Thousands) Interest Income Interest Expense Interest Income Interest Income Interest Expense Interest Income Total amounts of income presented on the consolidated statements of income in which the effects of the fair value hedge are recorded $ (120) $ (380) $ (292) $ (428) $ (380) $ (1,128) The effects of fair value hedging: Impact on fair value hedging relationships in Subtopic 815-20 Interest contracts Hedged items (120) (14,703) (292) (428) (14,703) (1,128) Derivatives designated as hedging instruments (a) — 14,323 — — 14,323 — (a) Includes net settlements on the derivatives. 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, 2022 and 2021: Consolidated Statements of Income Category of Gain / (Loss) Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Derivative Instruments Interest rate-related and other instruments — customer and mirror, net Capital markets, net $ (33) $ 557 $ 548 $ 2,546 Interest rate-related instruments — MSRs hedge Mortgage banking, net (3,547) — (12,559) — Foreign currency exchange forwards Capital markets, net 159 (8) 536 109 Commodity contracts Capital markets, net — (124) (16) (1,256) Interest rate lock commitments (mortgage) Mortgage banking, net (1,389) (1,356) (3,020) (4,438) Forward commitments (mortgage) Mortgage banking, net 3,543 1,402 3,415 3,017 |
Balance Sheet Offsetting
Balance Sheet Offsetting | 9 Months Ended |
Sep. 30, 2022 | |
Offsetting [Abstract] | |
Balance Sheet Offsetting | Balance Sheet Offsetting Interest Rate-Related Instruments, Commodity Contracts, and Foreign Exchange Forwards (“Interest, Commodity, and Foreign Exchange Agreements”) The Corporation enters into interest rate-related instruments to facilitate the interest rate risk management strategies of commercial customers and foreign exchange forwards to manage customers' exposure to fluctuating foreign exchange rates. The Corporation mitigates these risks by entering into equal and offsetting agreements with highly rated third-party financial institutions. Historically, the Corporation entered into commodity contracts to manage commercial customers' exposure to fluctuating commodity prices. As of the end of the first quarter of 2022, the Corporation no longer had any outstanding commodity contracts. The Corporation is party to master netting arrangements with some of its financial institution counterparties that create single net settlements of all legal claims or obligations to pay or receive the net amount of settlement of the individual interest and foreign exchange agreements. Collateral, usually in the form of investment securities and cash, is posted by the counterparty with net liability positions in accordance with contract thresholds. Derivatives subject to a legally enforceable master netting agreement are reported with assets and liabilities offset resulting in a net position which is further offset by any cash and investment securities collateral, and is reported in other assets and accrued expenses and other liabilities on the face of the consolidated balance sheets. See Note 10 for additional information on the Corporation’s derivative and hedging activities. The following table presents the interest rate and foreign exchange assets and liabilities subject to an enforceable master netting arrangement as of September 30, 2022 and interest rate, commodity, and foreign exchange assets and liabilities subject to an enforceable master netting arrangement as of December 31, 2021. The interest and foreign exchange agreements the Corporation has with its commercial customers and the commodity agreements the Corporation had with its commercial customers are not subject to an enforceable master netting arrangement and are therefore excluded from this table: Gross Amounts Recognized Gross Amounts Subject to Master Netting Arrangements Offset on the Consolidated Balance Sheets Net Amounts Presented on the Consolidated Balance Sheets ($ in Thousands) Derivative Cash Collateral Received Derivative assets September 30, 2022 $ 67,819 $ (869) $ (63,699) $ 3,252 December 31, 2021 3,567 (2,143) (1,313) 111 Gross Amounts Recognized Gross Amounts Subject to Master Netting Arrangements Offset on the Consolidated Balance Sheets Net Amounts Presented on the Consolidated Balance Sheets ($ in Thousands) Derivative Cash Collateral Pledged Derivative liabilities September 30, 2022 $ 870 $ (869) $ — $ 1 December 31, 2021 15,620 (2,143) (11,357) 2,120 |
Commitments, Off-Balance Sheet
Commitments, Off-Balance Sheet Arrangements, Legal Proceedings and Regulatory Matters | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Off-Balance Sheet Arrangements, Legal Proceedings and Regulatory Matters | Commitments, Off-Balance Sheet Arrangements, Legal Proceedings, Regulatory Matters and Operational Matters The Corporation utilizes a variety of financial instruments in the normal course of business to meet the financial needs of its customers and to manage its own exposure to fluctuations in interest rates. These financial instruments include lending-related and other commitments (see below) as well as derivative instruments (see Note 10). The following is a summary of lending-related commitments: ($ in Thousands) Sep 30, 2022 Dec 31, 2021 Commitments to extend credit, excluding commitments to originate residential mortgage loans held for sale (a)(b) $ 12,270,556 $ 10,848,136 Commercial letters of credit (a) 5,170 5,992 Standby letters of credit (c) 240,487 230,661 (a) These off-balance sheet financial instruments are exercisable at the market rate prevailing at the date the underlying transaction will be completed and, thus, are deemed to have no current fair value, or the fair value is based on fees currently charged to enter into similar agreements and was not material at September 30, 2022 or December 31, 2021. (b) Interest rate lock commitments to originate residential mortgage loans held for sale are considered derivative instruments and are disclosed in Note 10. (c) Standby letters of credit are presented excluding participations. The Corporation has established a liability of $2 million at both September 30, 2022 and December 31, 2021, as an estimate of the fair value of these financial instruments. Lending-related Commitments As a financial services provider, the Corporation routinely enters into commitments to extend credit. Such commitments are subject to the same credit policies and approval process accorded to loans made by the Corporation, with each customer’s creditworthiness evaluated on a case-by-case basis. The commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. The Corporation’s exposure to credit loss in the event of nonperformance by the other party to these financial instruments is represented by the contractual amount of those instruments. The amount of collateral obtained, if deemed necessary by the Corporation upon extension of credit, is based on management’s credit evaluation of the customer. Since a significant portion of commitments to extend credit are subject to specific restrictive loan covenants or may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. An allowance for unfunded commitments is maintained at a level believed by management to be sufficient to absorb expected lifetime losses related to unfunded commitments (including unfunded loan commitments and letters of credit). The following table presents a summary of the changes in the allowance for unfunded commitments: ($ in Thousands) Nine Months Ended September 30, 2022 Year Ended December 31, 2021 Allowance for Unfunded Commitments Balance at beginning of period $ 39,776 $ 47,776 Provision for unfunded commitments — (8,000) Balance at end of period $ 39,776 $ 39,776 Lending-related commitments include commitments to extend credit, commitments to originate residential mortgage loans held for sale, commercial letters of credit, and standby letters of credit. Commitments to extend credit are legally binding agreements to lend to customers at predetermined interest rates, as long as there is no violation of any condition established in the contracts. Interest rate lock commitments to originate residential mortgage loans held for sale and forward commitments on residential mortgage loans are considered derivative instruments, and the fair value of these commitments is recorded in other assets and accrued expenses and other liabilities on the consolidated balance sheets. The Corporation’s derivative and hedging activity is further described in Note 10. Commercial and standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Commercial letters of credit are issued specifically to facilitate commerce and typically result in the commitment being drawn on when the underlying transaction is consummated between the customer and the third party, while standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party. Other Commitments The Corporation invests in qualified affordable housing projects, historic projects, new market projects, and opportunity zone funds for the purpose of community reinvestment and obtaining tax credits and other tax benefits. Return on the Corporation's investment in these projects and funds comes in the form of the tax credits and tax losses that pass through to the Corporation, and deferral or elimination of capital gain recognition for tax purposes. The aggregate carrying value of these investments at September 30, 2022 was $250 million, compared to $268 million at December 31, 2021, included in tax credit and other investments on the consolidated balance sheets. The Corporation utilizes the proportional amortization method to account for investments in qualified affordable housing projects. Under the proportional amortization method, the Corporation amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits. The Corporation recognized additional income tax expense attributable to the amortization of investments in qualified affordable housing projects of $25 million and $24 million for the nine months ended September 30, 2022 and September 30, 2021, respectively, and $9 million and $8 million for the three months ended September 30, 2022 and September 30, 2021, respectively. The Corporation's remaining investment in qualified affordable housing projects accounted for under the proportional amortization method totaled $246 million at September 30, 2022 and $262 million at December 31, 2021. The Corporation’s unfunded equity contributions relating to investments in qualified affordable housing and historic projects are recorded in accrued expenses and other liabilities on the consolidated balance sheets. The Corporation’s remaining unfunded equity contributions totaled $38 million at September 30, 2022 and $80 million at December 31, 2021. For the nine months ended September 30, 2022 and the year ended December 31, 2021, the Corporation did not record any impairment related to qualified affordable housing investments. The Corporation has principal investment commitments to provide capital-based financing to private companies through either direct investment in specific companies or through investment funds and partnerships. The timing of future cash requirements to fund such principal investment commitments is generally dependent on the investment cycle, whereby privately held companies are funded by private equity investors and ultimately sold, merged, or taken public through an initial offering, which can vary based on overall market conditions, as well as the nature and type of industry in which the companies operate. The Corporation also invests in loan pools that support CRA loans. The timing of future cash requirements to fund these pools is dependent upon loan demand, which can vary over time. The aggregate carrying value of these investments was $25 million at both September 30, 2022 and December 31, 2021, included in tax credit and other investments on the consolidated balance sheets. Legal Proceedings The Corporation is party to various pending and threatened claims and legal proceedings arising in the normal course of business activities, some of which involve claims for substantial amounts. Although there can be no assurance as to the ultimate outcomes, the Corporation believes it has meritorious defenses to the claims asserted against it in its currently outstanding matters and intends to continue to defend itself vigorously with respect to such legal proceedings. The Corporation will consider settlement of cases when, in management’s judgment, it is in the best interests of the Corporation and its shareholders. On at least a quarterly basis, the Corporation assesses its liabilities and contingencies in connection with all pending or threatened claims and litigation, utilizing the most recent information available. On a matter by matter basis, an accrual for loss is established for those matters which the Corporation believes it is probable that a loss may be incurred and that the amount of such loss can be reasonably estimated. Once established, each accrual is adjusted as appropriate to reflect any subsequent developments. Accordingly, management’s estimate will change from time to time, and actual losses may be more or less than the current estimate. For matters where a loss is not probable, or the amount of the loss cannot be estimated, no accrual is established. Resolution of legal claims is inherently unpredictable, and in many legal proceedings various factors exacerbate this inherent unpredictability, including where the damages sought are unsubstantiated or indeterminate, it is unclear whether a case brought as a class action will be allowed to proceed on that basis, discovery is not complete, the proceeding is not yet in its final stages, the matters present legal uncertainties, there are significant facts in dispute, there are a large number of parties (including where it is uncertain how liability, if any, will be shared among multiple defendants), or there is a wide range of potential results. A lawsuit, Evans et al v. Associated Banc-Corp et al , was filed in the United States District Court for the Eastern District of Wisconsin - Green Bay Division on January 13, 2021 by one current and one former participant in the Associated Banc-Corp 401(k) and Employee Stock Ownership Plan (the “Plan”) as representatives of a putative class. The plaintiffs alleged that Associated Banc-Corp, the Associated Banc-Corp Plan Administrative Committee, and current and past members of such committee during the relevant time period (the “Defendants”) breached their fiduciary duties with respect to the Plan in violation of Employee Retirement Income Security Act of 1974, as amended, by applying an imprudent and inappropriate preference for products associated with Associated Banc-Corp within the Plan, and that the Defendants failed to monitor or control the recordkeeping expenses paid to Associated Trust Company, N.A. On March 18, 2021, the Defendants filed a motion to dismiss. On April 8, 2021, the plaintiffs filed an amended complaint which dropped the record keeping claim, added Associated Trust Company N.A. and Kellogg Asset Management, LLC as defendants, and alleged various breaches of fiduciary duty related to the selection and monitoring of, and the fees charged by, proprietary collective investment trusts. The plaintiffs, in part, sought an accounting and disgorgement of certain profits, as well as certain equitable restitution and equitable monetary relief. On September 30, 2022, the Defendants' motion to dismiss was granted. On October 11, 2022, the plaintiffs agreed not to appeal the dismissal in exchange for the Defendants' agreement not to seek attorneys' fees. Regulatory Matters A variety of consumer products, including mortgage and deposit products, and certain fees and charges related to such products, have come under increased regulatory scrutiny. It is possible that regulatory authorities could bring enforcement actions, including civil money penalties, or take other actions against the Corporation and the Bank in regard to these consumer products. The Bank could also determine of its own accord, or be required by regulators, to refund or otherwise make remediation payments to customers in connection with these products. It is not possible at this time for management to assess the probability of a material adverse outcome or reasonably estimate the amount of any potential loss related to such matters. Operational Matters In November 2021, we became aware that during several routine purges of old documents, certain documents that were more than seven years old relating to active accounts were inadvertently purged from our electronic database. The active account documents that were inadvertently purged related to (1) certain customer documents obtained as part of bank acquisitions, and (2) certain customer documents that were transferred to a new cold storage system without correct retention coding. Both the acquisitions and the transfer occurred years ago. The majority of the documents inadvertently purged were signature cards. We have undertaken measures to replace (if possible) or otherwise lessen the impact on customers of any inadvertently purged documents. While the impact on the Company of this incident has been immaterial to date, and we are not aware of any material adverse customer impact, it is not possible at this time for management to reasonably estimate the amount of any potential loss related to this incident. Mortgage Repurchase Reserve The Corporation sells residential mortgage loans to investors in the normal course of business. Residential mortgage loans sold to others are predominantly conventional residential first lien mortgages originated under the Corporation's usual underwriting procedures, and are most often sold on a nonrecourse basis, primarily to the GSEs. The Corporation’s agreements to sell residential mortgage loans in the normal course of business usually require certain representations and warranties on the underlying loans sold, related to credit information, loan documentation, collateral, and insurability. Subsequent to being sold, if a material underwriting deficiency or documentation defect is discovered, the Corporation may be obligated to repurchase the loan or reimburse the GSEs for losses incurred (collectively, “make whole requests”). The make whole requests and any related risk of loss under the representations and warranties are largely driven by borrower performance. Additionally, beginning in the third quarter of 2021, qualifying residential mortgage loans guaranteed by U.S. government agencies have been sold into GNMA pools. As a result of make whole requests, the Corporation has repurchased loans with aggregate principal balances of $4 million and $8 million for the nine months ended September 30, 2022 and the year ended December 31, 2021, respectively. There were no loss reimbursement and settlement claims paid in the nine months ended September 30, 2022, and approximately $114,000 of such claims were paid for the year ended December 31, 2021. Make whole requests since January 1, 2021 generally arose from loans originated during the period of January 1, 2018 to June 30, 2022. Since January 1, 2018, loans sold totaled $6.7 billion at the time of sale, and consisted primarily of loans sold to GSEs. As of September 30, 2022, $4.3 billion of loans originated since January 1, 2018 remain outstanding. The balance in the mortgage repurchase reserve at the balance sheet date reflects the estimated amount of potential loss the Corporation could incur from repurchasing a loan, as well as loss reimbursements, indemnifications, and other settlement resolutions. The mortgage repurchase reserve, included in accrued expenses and other liabilities on the consolidated balance sheets, was $1 million at both September 30, 2022 and December 31, 2021. The Corporation may also sell residential mortgage loans with limited recourse (limited in that the recourse period ends prior to the loan’s maturity, usually after certain time and / or loan paydown criteria have been met), whereby repurchase could be required if the loan had defined delinquency issues during the limited recourse periods. At September 30, 2022 and December 31, 2021, there were $7 million and $10 million, respectively, of residential mortgage loans sold with such recourse risk. There have been limited instances and immaterial historical losses on repurchases for recourse under the limited recourse criteria. The Corporation has a subordinate position to the FHLB in the credit risk on residential mortgage loans it sold to the FHLB in exchange for a monthly credit enhancement fee. The Corporation has not sold loans to the FHLB with such credit risk retention since February 2005. At September 30, 2022 and December 31, 2021, there were $20 million and $24 million, respectively, of such residential mortgage loans with credit risk recourse, upon which there have been immaterial historical losses to the Corporation. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair value represents the estimated price at which an orderly transaction to sell an asset or to transfer a liability would take place between market participants at the measurement date under current market conditions (i.e., an exit price concept). The valuation methodologies for assets and liabilities measured at fair value on a recurring and non-recurring basis are described in the Fair Value Measurements note in the Corporation’s 2021 Annual Report on Form 10-K. There has been one significant change to the methodologies for assets and liabilities measured at fair value on a recurring basis: Mortgage Servicing Rights: The Corporation sells residential mortgage loans in the secondary market and typically retains the rights to service the loans sold. Upon sale, a MSRs asset is capitalized, which represents the then current fair value of future net cash flows expected to be realized for performing servicing activities. On January 1, 2022, the Corporation made the irrevocable election to account for its MSRs asset under the fair value measurement method. Under this methodology, changes in the fair value are recognized in earnings as they occur through mortgage banking, net on the consolidated statements of income. MSRs are not traded in active markets. A cash flow model is used to determine fair value. Key assumptions and estimates, including projected prepayment speeds, assumed servicing costs, ancillary income, costs to service delinquent loans, costs of foreclosure, and discount rates with option-adjusted spreads, used by this model are based on current market sources. Assumptions used to value MSRs are considered significant unobservable inputs. A separate third-party model is used to estimate prepayment speeds based on interest rates, housing turnover rates, estimated loan curtailment, anticipated defaults and other relevant factors. Fair value estimates from outside sources are received periodically to corroborate the results of the valuation model. Due to the nature of the valuation inputs, MSRs are classified within Level 3 of the fair value hierarchy. See Note 8 for additional disclosures about the Corporation's MSRs. The table below presents the Corporation’s financial instruments measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021, aggregated by the level in the fair value hierarchy within which those measurements fall: ($ in Thousands) Fair Value Hierarchy Sep 30, 2022 Dec 31, 2021 Assets AFS investment securities U.S. Treasury securities Level 1 $ 108,284 $ 122,957 Agency securities Level 2 13,399 14,897 Obligations of state and political subdivisions (municipal securities) Level 2 340,898 400,457 Residential mortgage-related securities FNMA / FHLMC Level 2 1,656,061 2,691,879 GNMA Level 2 78,029 67,780 Private-label Level 2 — 329,724 Commercial mortgage-related securities FNMA / FHLMC Level 2 17,286 350,623 GNMA Level 2 107,094 166,799 Asset backed securities FFELP Level 2 158,556 177,325 SBA Level 2 4,772 6,580 Other debt securities Level 2 2,933 2,994 Total AFS investment securities Level 1 $ 108,284 $ 122,957 Total AFS investment securities Level 2 2,379,028 4,209,058 Equity securities with readily determinable fair values Level 1 5,655 4,810 Residential loans held for sale Level 2 51,134 136,638 Mortgage servicing rights, net (a) Level 3 78,352 N/A Interest rate-related and other instruments not designated as hedging instruments (b) Level 2 59,618 83,626 Foreign currency exchange forwards (b) Level 2 10,109 5,490 Commodity contracts (b) Level 2 — 1,264 Interest rate lock commitments to originate residential mortgage loans held for sale Level 3 — 2,617 Forward commitments on residential mortgage loans Level 3 3,492 30 Liabilities Interest rate-related instruments designated as hedging instruments Level 2 $ 906 $ — Interest rate-related and other instruments not designated as hedging instruments (b) Level 2 264,212 26,231 Foreign currency exchange forwards (b) Level 2 9,524 5,441 Commodity contracts (b) Level 2 — 1,248 Interest rate lock commitments to originate residential mortgage loans held for sale Level 3 403 — (a) MSRs at December 31, 2021 were carried at LOCOM. On January 1, 2022, the Corporation made the irrevocable election to account for MSRs at fair value on a recurring basis. The table below presents a rollforward of the consolidated balance sheets amounts for the nine months ended September 30, 2022 and the year ended December 31, 2021, for the Corporation's mortgage derivatives measured on a recurring basis and classified within Level 3 of the fair value hierarchy: ($ in Thousands) Interest rate lock commitments to originate residential mortgage loans held for sale Forward commitments on residential mortgage loans Total Balance December 31, 2020 $ 9,624 $ 2,046 $ 7,579 New production 53,686 (3,281) 56,966 Closed loans / settlements (53,477) 3,740 (57,217) Other (7,216) (2,535) (4,680) Change in mortgage derivative (7,007) (2,076) (4,932) Balance December 31, 2021 $ 2,617 $ (30) $ 2,647 New production $ 9,526 $ (1,734) $ 11,260 Closed loans / settlements (641) 21,244 (21,885) Other (11,905) (22,972) 11,067 Change in mortgage derivative (3,020) (3,462) 442 Balance September 30, 2022 $ (403) $ (3,492) $ 3,089 The following table presents the carrying value of equity securities without readily determinable fair values as of September 30, 2022 that are measured under the measurement alternative and the related adjustments recorded during the periods presented for those securities with observable price changes. These securities are included in the nonrecurring fair value tables when applicable price changes are observable. Also shown are the cumulative upward and downward adjustments for the Corporation's equity securities without readily determinable fair values as of September 30, 2022: ($ in Thousands) Equity securities without readily determinable fair values Carrying value as of December 31, 2021 $ 13,542 Carrying value changes 5,690 Additions 4 Sales (12) Carrying value as of September 30, 2022 $ 19,224 Cumulative upward carrying value changes between January 1, 2018 and September 30, 2022 $ 19,134 Cumulative downward carrying value changes/impairment between January 1, 2018 and September 30, 2022 $ — 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: ($ in Thousands) Fair Value Hierarchy Fair Value Consolidated Statements of Income Category of Adjustment Recognized in Income Adjustment Recognized on the Consolidated Statements of Income (a) September 30, 2022 Assets Individually evaluated loans (b) Level 3 $ 29,558 Provision for credit losses $ 5,010 OREO (c) Level 2 3,534 Other noninterest expense / provision for credit losses (d) 1,639 Equity securities without readily determinable fair values Level 3 19,134 Investment securities gains (losses), net 5,690 December 31, 2021 Assets Individually evaluated loans (b) Level 3 $ 69,917 Provision for credit losses $ (3,045) OREO (c) Level 2 21,299 Other noninterest expense / provision for credit losses (d) 7,345 Mortgage servicing rights (e) Level 3 57,259 Mortgage banking, net 16,186 (a) Includes the full year impact on the consolidated statements of income. Certain nonfinancial assets and nonfinancial liabilities measured at fair value on a nonrecurring basis include the fair value analysis in the goodwill impairment test as well as intangible assets and other nonfinancial long-lived assets measured at fair value for the purpose of impairment assessment. The table below presents the unobservable inputs that are readily quantifiable pertaining to Level 3 measurements: September 30, 2022 Valuation Technique Significant Unobservable Input Range of Inputs Weighted Average Input Applied Mortgage servicing rights Discounted cash flow Option adjusted spread 6% - 9% 7% Mortgage servicing rights Discounted cash flow Constant prepayment rate 0% - 100% 9% Individually evaluated loans Appraisals / Discounted cash flow Collateral / Discount factor 29% - 52% 36% Interest rate lock commitments to originate residential mortgage loans held for sale Discounted cash flow Closing Ratio 17% - 100% 83% Fair Value of Financial Instruments The Corporation is required to disclose estimated fair values for its financial instruments. Fair value estimates are set forth below for the Corporation’s financial instruments: Sep 30, 2022 Dec 31, 2021 ($ in Thousands) Fair Value Hierarchy Level Carrying Amount Fair Value Carrying Amount Fair Value Financial assets Cash and due from banks Level 1 $ 386,231 $ 386,231 $ 343,831 $ 343,831 Interest-bearing deposits in other financial institutions Level 1 112,173 112,173 681,684 681,684 Federal funds sold and securities purchased under agreements to resell Level 1 4,015 4,015 — — AFS investment securities Level 1 108,284 108,284 122,957 122,957 AFS investment securities Level 2 2,379,028 2,379,028 4,209,058 4,209,058 HTM investment securities, net Level 1 998 932 1,000 1,001 HTM investment securities, net Level 2 3,950,493 3,294,767 2,237,947 2,347,608 Equity securities with readily determinable fair values Level 1 5,655 5,655 4,810 4,810 Equity securities without readily determinable fair values Level 3 19,224 19,224 13,542 13,542 FHLB and Federal Reserve Bank stocks Level 2 279,334 279,334 168,281 168,281 Residential loans held for sale Level 2 51,134 51,134 136,638 136,638 Loans, net Level 3 27,524,376 26,285,810 23,944,934 23,980,330 Bank and corporate owned life insurance Level 2 677,129 677,129 680,021 680,021 Mortgage servicing rights, net (a) Level 3 78,352 78,352 54,862 57,259 Derivatives (other assets) (b) Level 2 69,726 69,726 90,379 90,379 Interest rate lock commitments to originate residential mortgage loans held for sale (other assets) Level 3 — — 2,617 2,617 Forward commitments on residential mortgage loans (other assets) Level 3 3,492 3,492 30 30 Financial liabilities Noninterest-bearing demand, savings, interest-bearing demand, and money market accounts Level 3 $ 27,964,749 $ 27,964,749 $ 27,119,167 $ 27,119,167 Time deposits (c) Level 2 1,233,833 1,233,833 1,347,262 1,347,262 Short-term funding Level 2 284,361 283,755 354,262 354,248 FHLB advances Level 2 3,777,478 3,780,744 1,621,047 1,680,814 Other long-term funding Level 2 249,484 243,586 249,324 265,545 Standby letters of credit (d) Level 2 2,457 2,457 2,367 2,367 Derivatives (accrued expenses and other liabilities) (b) Level 2 274,642 274,642 32,921 32,921 Interest rate lock commitments to originate residential mortgage loans held for sale (accrued expenses and other liabilities) Level 3 403 403 — — (a) MSRs at December 31, 2021 were carried at LOCOM. On January 1, 2022, the Corporation made the irrevocable election to account for MSRs at fair value. |
Retirement Plans
Retirement Plans | 9 Months Ended |
Sep. 30, 2022 | |
Retirement Benefits [Abstract] | |
Retirement Plans | Retirement Plans The Corporation has a noncontributory defined benefit RAP, covering substantially all employees who meet participation requirements. The benefits are based primarily on years of service and the employee’s compensation paid. Employees of acquired entities generally participate in the RAP after consummation of the business combinations. Any retirement plans of acquired entities are typically merged into the RAP after completion of the mergers, and credit is usually given to employees for years of service at the acquired institution for vesting and eligibility purposes. The Corporation also provides legacy healthcare access to a limited group of retired employees from a previous acquisition in the Postretirement Plan. There are no other active retiree healthcare plans. The components of net periodic pension cost and net periodic benefit cost for the RAP and Postretirement Plan for the three and nine months ended September 30, 2022 and 2021 were as follows: Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Components of Net Periodic Benefit Cost RAP Service cost $ 906 $ 1,684 $ 2,752 $ 5,835 Interest cost 1,820 1,682 5,364 4,927 Expected return on plan assets (6,706) (6,395) (20,177) (19,256) Amortization of prior service cost (63) (19) (188) (55) Amortization of actuarial loss 347 1,346 494 3,446 Total net periodic pension cost $ (3,696) $ (1,701) $ (11,754) $ (5,103) Postretirement Plan Interest cost $ 13 $ 13 $ 40 $ 39 Amortization of prior service cost (19) (19) (56) (56) Total net periodic benefit cost $ (6) $ (6) $ (17) $ (17) The components of net periodic pension cost and net periodic benefit cost, other than the service cost component, are included in the line item other of noninterest expense on the consolidated statements of income. The service cost components are included in personnel on the consolidated statements of income. The Corporation’s funding policy is to pay at least the minimum amount required by federal law and regulations, with consideration given to the maximum funding amounts allowed. The Corporation regularly reviews the funding of its RAP. There were no contributions during the nine months ended September 30, 2022 and 2021. |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment Reporting | Segment Reporting The Corporation utilizes a risk-based internal profitability measurement system to provide strategic business unit reporting. The profitability measurement system is based on internal management methodologies designed to produce consistent results and reflect the underlying economics of the units. Certain strategic business units have been combined for segment information reporting purposes where the nature of the products and services, the type of customer, and the distribution of those products and services are similar. The three reportable segments are Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services. The financial information of the Corporation’s segments has been compiled utilizing the accounting policies described in the Corporation’s 2021 Annual Report on Form 10-K with certain exceptions. The more significant of these exceptions are described herein. The reportable segment results are presented based on the Corporation's internal management accounting process. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to U.S. GAAP. As a result, reported segments and the financial information of the reported segments are not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in previously reported segment financial data. Additionally, the information presented is not indicative of how the segments would perform if they operated as independent entities. To determine financial performance of each segment, the Corporation allocates FTP assignments, the provision for credit losses, certain noninterest expenses, income taxes, and equity to each segment. Allocation methodologies are subject to periodic adjustment as the internal management accounting system is revised, the interest rate environment evolves, and business or product lines within the segments change. Also, because the development and application of these methodologies is a dynamic process, the financial results presented may be periodically reviewed. The Corporation allocates net interest income using an internal FTP methodology that charges users of funds (assets, primarily loans) and credits providers of funds (liabilities, primarily deposits) based on the maturity, prepayment and / or re-pricing characteristics of the assets and liabilities. The net effect of this allocation is offset in the Risk Management and Shared Services segment to ensure consolidated totals reflect the Corporation's net interest income. The net FTP allocation is reflected as net intersegment interest income (expense) in the accompanying tables. The provision for credit losses is allocated to segments based on the expected long-term annual net charge off rates attributable to the credit risk of loans managed by the segment during the period. In contrast, the level of the consolidated provision for credit losses is determined based on an ACLL model using the methodologies described in the Corporation’s 2021 Annual Report on Form 10-K. The net effect of the credit provision is recorded in Risk Management and Shared Services. Indirect expenses incurred by certain centralized support areas are allocated to segments based on actual usage (for example, volume measurements) and other criteria. Certain types of administrative expense and bank-wide expense accruals (including amortization of CDIs and other intangible assets associated with acquisitions, acquisition-related costs, and asset gains on disposed business units) are generally not allocated to segments. Income taxes are allocated to segments based on the Corporation’s estimated effective tax rate, with certain segments adjusted for any tax-exempt income or non-deductible expenses. Equity is allocated to the segments based on regulatory capital requirements and in proportion to an assessment of the inherent risks associated with the business of the segment (including interest, credit and operating risk). A brief description of each business segment is presented below. A more in-depth discussion of these segments can be found in the Segment Reporting note in the Corporation’s 2021 Annual Report on Form 10-K. The Corporate and Commercial Specialty segment serves a wide range of customers including larger businesses, developers, not-for-profits, municipalities, and financial institutions by providing lending and deposit solutions as well as the support to deliver, fund, and manage such banking solutions. In addition, this segment provides a variety of investment, fiduciary, and retirement planning products and services to individuals and small to mid-sized businesses. During the first quarter of 2021, the Corporation sold its wealth management subsidiary Whitnell. The Community, Consumer, and Business segment serves individuals, as well as small and mid-sized businesses, by providing lending and deposit solutions. The Risk Management and Shared Services segment includes key shared operational functions and also includes residual revenue and expenses, representing the difference between actual amounts incurred and the amounts allocated to operating segments, including interest rate risk residuals (FTP mismatches) and credit risk and provision residuals (long-term credit charge mismatches). Effective during the third quarter of 2022, the product and marketing functions were moved to the Risk Management and Shared Services segment from the Community, Consumer, and Business and Corporate and Commercial Specialty segments in order to centralize these functions under common leadership. Effective during the first quarter of 2022, certain support functions and a select group of banking regions were realigned into the Community, Consumer, and Business segment from the Corporate and Commercial Specialty segment. Information about the Corporation’s segments is presented below: Corporate and Commercial Specialty Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Net interest income $ 161,143 $ 91,012 $ 363,135 $ 270,712 Net intersegment interest income (expense) (37,998) 3,696 (34,774) 12,690 Segment net interest income 123,145 94,709 328,361 283,403 Noninterest income (a) 35,663 41,892 112,620 120,991 Total revenue 158,808 136,601 440,981 404,394 Provision for credit losses 11,904 14,349 36,803 46,745 Noninterest expense 58,934 56,209 172,141 165,568 Income before income taxes 87,970 66,043 232,037 192,082 Income tax expense 16,420 11,920 42,692 35,021 Net income $ 71,551 $ 54,123 $ 189,346 $ 157,060 Allocated goodwill $ 525,836 $ 525,836 Community, Consumer, and Business Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Net interest income $ 87,156 $ 73,616 $ 233,699 $ 218,868 Net intersegment interest income 49,575 15,283 99,046 46,165 Segment net interest income 136,731 88,899 332,745 265,033 Noninterest income 26,745 37,053 92,072 117,351 Total revenue 163,476 125,952 424,817 382,384 Provision for credit losses 5,378 4,748 14,958 15,955 Noninterest expense 107,782 98,172 311,210 300,913 Income before income taxes 50,316 23,032 98,649 65,517 Income tax expense 10,567 4,837 20,716 13,758 Net income $ 39,749 $ 18,196 $ 77,933 $ 51,758 Allocated goodwill $ 579,156 $ 579,156 Risk Management and Shared Services Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Net interest income $ 16,140 $ 19,047 $ 71,498 $ 49,511 Net intersegment (expense) (11,577) (18,980) (64,272) (58,855) Segment net interest income (loss) 4,563 68 7,227 (9,344) Noninterest income 8,381 3,131 16,021 12,520 Total revenue 12,943 3,199 23,247 3,176 Provision for credit losses (283) (43,107) (38,756) (144,717) Noninterest expense 29,076 23,512 67,153 61,233 Income (loss) before income taxes (15,849) 22,794 (5,150) 86,660 Income tax expense (benefit) (824) 6,304 4,769 21,363 Net income (loss) $ (15,025) $ 16,490 $ (9,918) $ 65,298 Allocated goodwill $ — $ — Consolidated Total Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Net interest income $ 264,439 $ 183,675 $ 668,332 $ 539,092 Net intersegment interest income — — — — Segment net interest income 264,439 183,675 668,332 539,092 Noninterest income (a) 70,788 82,076 220,713 250,862 Total revenue 335,227 265,752 889,045 789,954 Provision for credit losses 16,998 (24,010) 13,006 (82,018) Noninterest expense 195,791 177,892 550,503 527,713 Income before income taxes 122,438 111,870 325,536 344,259 Income tax expense 26,163 23,060 68,176 70,142 Net income $ 96,275 $ 88,809 $ 257,360 $ 274,117 Allocated goodwill $ 1,104,992 $ 1,104,992 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) The following tables summarize the components of accumulated other comprehensive income (loss) at September 30, 2022 and 2021, including changes during the preceding three and nine month periods as well as any reclassifications out of accumulated other comprehensive income (loss): ($ in Thousands) AFS Investment Defined Benefit Accumulated Balance December 31, 2021 $ (5,266) $ (5,051) $ (10,317) Other comprehensive (loss) before reclassifications (268,413) — (268,413) Unrealized (losses) on AFS securities transferred to HTM securities (67,604) — (67,604) Amounts reclassified from accumulated other comprehensive income (loss) Investment securities (gains), net (12) — (12) HTM investment securities, net, at amortized cost 7,269 — 7,269 Personnel (expense) — (244) (244) Other expense — 494 494 Income tax (expense) benefit 83,906 (470) 83,436 Net other comprehensive (loss) during period (244,854) (221) (245,074) Balance September 30, 2022 $ (250,120) $ (5,272) $ (255,391) Balance December 31, 2020 $ 41,325 $ (28,707) $ 12,618 Other comprehensive (loss) before reclassifications (35,829) — (35,829) Amounts reclassified from accumulated other comprehensive income (loss) Investment securities losses, net 16 — 16 HTM investment securities, net, at amortized cost 1,335 — 1,335 Personnel (expense) — (111) (111) Other expense — 3,446 3,446 Income tax (expense) benefit 8,548 (836) 7,712 Net other comprehensive income (loss) during period (25,930) 2,498 (23,431) Balance September 30, 2021 $ 15,395 $ (26,209) $ (10,813) ($ in Thousands) AFS Investment Defined Benefit Accumulated Balance June 30, 2022 $ (177,726) $ (5,062) $ (182,788) Other comprehensive (loss) before reclassifications (100,092) — (100,092) Amounts reclassified from accumulated other comprehensive income (loss) HTM investment securities, net, at amortized cost 2,888 — 2,888 Personnel (expense) — (82) (82) Other expense — 347 347 Income tax (expense) benefit 24,810 (474) 24,336 Net other comprehensive (loss) during period (72,394) (209) (72,603) Balance September 30, 2022 $ (250,120) $ (5,272) $ (255,391) Balance June 30, 2021 $ 30,076 $ (27,187) $ 2,889 Other comprehensive (loss) before reclassifications (19,827) — (19,827) Amounts reclassified from accumulated other comprehensive income (loss) HTM investment securities, net, at amortized cost 172 — 172 Personnel (expense) — (37) (37) Other expense — 1,346 1,346 Income tax (expense) benefit 4,975 (330) 4,644 Net other comprehensive (loss) during period (14,681) 979 (13,702) Balance September 30, 2021 $ 15,395 $ (26,209) $ (10,813) |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 9 Months Ended |
Sep. 30, 2022 | |
Revenue Recognition [Abstract] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Revenue from contracts with customers is recognized when obligations under the terms of a contract with the Corporation's customer are satisfied. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. We do not have any material significant payment terms as payment is received at or shortly after the satisfaction of the performance obligation. The Corporation's disaggregated revenue by major source is presented below: Corporate and Commercial Specialty Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Wealth management fees $ 19,984 $ 22,110 $ 63,719 $ 67,229 Service charges and deposit account fees 3,128 3,948 10,636 11,748 Card-based fees (a) 424 381 1,203 1,011 Other revenue 395 738 2,288 2,552 Noninterest income (in-scope of Topic 606) $ 23,931 $ 27,176 $ 77,846 $ 82,540 Noninterest income (out-of-scope of Topic 606) (b) 11,732 14,717 34,774 38,451 Total noninterest income $ 35,663 $ 41,892 $ 112,620 $ 120,991 Community, Consumer, and Business Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Service charges and deposit account fees $ 11,896 $ 13,009 $ 37,743 $ 35,591 Card-based fees (a) 10,970 10,707 31,629 30,830 Other revenue 1,637 2,088 5,270 8,563 Noninterest income (in-scope of Topic 606) $ 24,503 $ 25,803 $ 74,642 $ 74,984 Noninterest income (out-of-scope of Topic 606) 2,241 11,250 17,431 42,366 Total noninterest income $ 26,745 $ 37,053 $ 92,072 $ 117,351 Risk Management and Shared Services Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Service charges and deposit account fees $ 5 $ 5 $ 13 $ 27 Card-based fees (a) 118 60 101 79 Other revenue 454 55 373 752 Noninterest income (in-scope of Topic 606) $ 577 $ 120 $ 486 $ 858 Noninterest income (out-of-scope of Topic 606) 7,804 3,011 15,535 11,662 Total noninterest income $ 8,381 $ 3,131 $ 16,021 $ 12,520 Consolidated Total Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Wealth management fees $ 19,984 $ 22,110 $ 63,719 $ 67,229 Service charges and deposit account fees 15,029 16,962 48,392 47,366 Card-based fees (a) 11,512 11,147 32,933 31,920 Other revenue 2,486 2,880 7,930 11,868 Noninterest income (in-scope of Topic 606) $ 49,011 $ 53,099 $ 152,974 $ 158,383 Noninterest income (out-of-scope of Topic 606) (b) 21,777 28,977 67,740 92,479 Total noninterest income $ 70,788 $ 82,076 $ 220,713 $ 250,862 (a) Certain card-based fees are out-of-scope of Topic 606. (b) For the nine months ended September 30, 2021, the Corporation recognized a $2 million pre-tax gain on the sale of Whitnell. Below is a listing of performance obligations for the Corporation's main revenue streams: Revenue Stream Noninterest income in-scope of Topic 606 Service charges and deposit account fees Service charges and deposit account fees consist of monthly service fees (i.e. business analyzed fees and consumer service charges) and other deposit account related fees. The Corporation's performance obligation for monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Other deposit account related fees are largely transactional based, and therefore, the Corporation's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges and deposit account fees is primarily received immediately or in the following month through a direct charge to customers’ accounts. Card-based fees (a) Card-based fees are primarily comprised of debit and credit card income, ATM fees, and merchant services income. Debit and credit card income is primarily comprised of interchange fees earned whenever the Corporation's debit and credit cards are processed through card payment networks. ATM and merchant fees are largely transactional based, and therefore, the Corporation's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment is typically received immediately or in the following month. Trust and asset management fees (b) Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Corporation's performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to the customers’ accounts. The Corporation's performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered. Brokerage and advisory fees (b) Brokerage and advisory fees primarily consist of investment advisory, brokerage, retirement services, and annuities. The Corporation's performance obligation for investment advisory services and retirement services is generally satisfied, and the related revenue recognized, over the period in which the services are provided. The performance obligation for annuities is satisfied upon sale of the annuity, and therefore, the related revenue is primarily recognized at the time of sale. Payment for these services are typically received immediately or in advance of the service. (a) Certain card-based fees are out-of-scope of Topic 606. (b) Trust and asset management fees and brokerage and advisory fees are included in wealth management fees. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Leases | Leases The Corporation has operating leases for retail and corporate offices, land, and equipment. The Corporation also has a finance lease for retail and corporate offices. These leases have original terms of 1 year or longer with remaining maturities up to 40 years, some of which include options to extend the lease term. An analysis of the lease options has been completed and any purchase options or optional periods that the Corporation is reasonably likely to extend have been included in the capitalization. The discount rate used to capitalize the operating leases is the Corporation's FHLB borrowing rate on the date of lease commencement. When determining the rate to discount specific lease obligations, the repayment period and term are considered. Operating and finance lease costs and cash flows resulting from these leases are presented below: Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Operating lease costs $ 1,637 $ 2,367 $ 5,361 $ 6,850 Finance lease costs 23 17 96 76 Operating lease cash flows 1,880 2,858 6,614 8,598 Finance lease cash flows 22 21 103 101 The lease classifications on the consolidated balance sheets were as follows: ($ in Thousands) Consolidated Balance Sheets Category Sep 30, 2022 Dec 31, 2021 Operating lease right-of-use asset Premises and equipment $ 26,970 $ 28,299 Finance lease right-of-use asset Other assets 477 143 Operating lease liability Accrued expenses and other liabilities 29,897 31,345 Finance lease liability Other long-term funding 490 163 The lease payment obligations, weighted-average remaining lease term, and weighted-average original discount rate were as follows: Sep 30, 2022 Dec 31, 2021 ($ in Thousands) Lease payments Weighted-average lease term (in years) Weighted-average discount rate Lease payments Weighted-average lease term (in years) Weighted-average discount rate Operating leases Retail and corporate offices $ 27,640 6.07 2.56 % $ 29,008 5.56 3.26 % Land 4,963 7.53 3.13 % 5,551 8.29 3.12 % Equipment — 0.00 — % 192 1.50 0.45 % Total operating leases $ 32,604 6.28 2.65 % $ 34,751 5.94 3.22 % Finance leases Retail and corporate offices $ 508 5.50 1.32 % $ 112 1.25 1.32 % Land — 0.00 — % 51 0.67 1.07 % Total finance leases $ 508 5.50 1.32 % $ 164 1.07 1.24 % Contractual lease payment obligations for each of the next five years and thereafter, in addition to a reconciliation to the Corporation’s lease liability, were as follows: ($ in Thousands) Operating Leases Finance Leases Total Leases Three months ending December 31, 2022 $ 1,641 $ 22 $ 1,664 2023 6,224 92 6,316 2024 5,669 93 5,761 2025 4,548 93 4,641 2026 4,249 93 4,342 Beyond 2026 10,272 116 10,388 Total lease payments $ 32,604 $ 508 $ 33,111 Less: interest 2,707 18 2,724 Present value of lease payments $ 29,897 $ 490 $ 30,387 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
New Accounting Pronouncements Adopted | New Accounting Pronouncements Adopted There were no applicable material accounting pronouncements adopted by the Corporation since December 31, 2021. |
Future Accounting Pronouncements | Future Accounting Pronouncements The expected impact of applicable material accounting pronouncements recently issued or proposed but not yet required to be adopted are discussed in the table below. To the extent that the adoption of new accounting standards materially affects the Corporation's financial condition, results of operations, liquidity or disclosures, the impacts are discussed in the applicable sections of this financial review. Standard Description Date of anticipated adoption Effect on financial statements ASU 2022-02 Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures The FASB issued these amendments to eliminate accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables-Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty, and to require that an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost. The amendments in this Update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, and should be applied prospectively, except as provided in the next sentence. For the transition method related to the recognition and measurement of TDRs, an entity has the option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. Early adoption is permitted if an entity has adopted the amendments in Update 2016-03, including adoption in an interim period. 1st Quarter 2023 Adoption of this amendment is not expected to have a material impact on the Corporation's results of operation, financial position or liquidity, but will result in additional disclosure requirements related to gross charge offs by vintage year and the removal of TDR disclosures, replaced by additional disclosures on the types of modifications of loans to borrowers experiencing financial difficulties. The Corporation intends to adopt this update prospectively. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Calculations for basic and diluted earnings per common share | Presented below are the calculations for basic and diluted earnings per common share: Three Months Ended Sep 30, Nine Months Ended Sep 30, (In Thousands, except per share data) 2022 2021 2022 2021 Net income $ 96,275 $ 88,809 $ 257,360 $ 274,117 Preferred stock dividends (2,875) (4,155) (8,625) (14,236) Net income available to common equity $ 93,400 $ 84,655 $ 248,735 $ 259,880 Common shareholder dividends (30,149) (30,323) (90,647) (85,604) Unvested share-based payment awards (194) (222) (609) (634) Undistributed earnings $ 63,057 $ 54,109 $ 157,479 $ 173,642 Undistributed earnings allocated to common shareholders $ 62,648 $ 53,716 $ 156,454 $ 172,436 Undistributed earnings allocated to unvested share-based payment awards 409 393 1,025 1,206 Undistributed earnings $ 63,057 $ 54,109 $ 157,479 $ 173,642 Basic Distributed earnings to common shareholders $ 30,149 $ 30,323 $ 90,647 $ 85,604 Undistributed earnings allocated to common shareholders 62,648 53,716 156,454 172,436 Total common shareholders earnings, basic $ 92,796 $ 84,039 $ 247,102 $ 258,040 Diluted Distributed earnings to common shareholders $ 30,149 $ 30,323 $ 90,647 $ 85,604 Undistributed earnings allocated to common shareholders 62,648 53,716 156,454 172,436 Total common shareholders earnings, diluted $ 92,796 $ 84,039 $ 247,102 $ 258,040 Weighted average common shares outstanding 149,321 150,046 149,063 151,473 Effect of dilutive common stock awards 942 1,096 1,141 1,228 Diluted weighted average common shares outstanding 150,262 151,143 150,205 152,701 Basic earnings per common share $ 0.62 $ 0.56 $ 1.66 $ 1.70 Diluted earnings per common share $ 0.62 $ 0.56 $ 1.65 $ 1.69 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Retirement Benefits [Abstract] | |
Summary of company's stock option activities | A summary of the Corporation’s stock option activity for the nine months ended September 30, 2022 is presented below: Stock Options Shares (a) Weighted Average Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (a) Outstanding at December 31, 2021 4,814 $ 20.72 5.96 years $ 12,532 Exercised 436 17.61 Forfeited or expired 62 19.83 Outstanding at September 30, 2022 4,316 $ 21.05 5.14 years $ 4,506 Options Exercisable at September 30, 2022 3,735 $ 21.35 4.82 years $ 3,547 (a) In thousands |
Summary of restricted stock awards activity (excluding salary shares) | The following table summarizes information about the Corporation’s restricted stock awards activity for the nine months ended September 30, 2022: Restricted Stock Awards Shares (a) Weighted Average Outstanding at December 31, 2021 2,635 $ 19.87 Granted 785 22.91 Vested 948 21.83 Forfeited 109 20.30 Outstanding at September 30, 2022 2,363 $ 20.91 (a) In thousands |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment securities available for sale | The amortized cost and fair values of AFS and HTM securities at September 30, 2022 were as follows: ($ in Thousands) Amortized Gross Gross Fair Value AFS investment securities U. S. Treasury securities $ 124,403 $ — $ (16,119) $ 108,284 Agency securities 15,000 — (1,601) 13,399 Obligations of state and political subdivisions (municipal securities) 356,539 28 (15,669) 340,898 Residential mortgage-related securities FNMA / FHLMC 1,882,668 413 (227,020) 1,656,061 GNMA 82,263 — (4,234) 78,029 Commercial mortgage-related securities FNMA / FHLMC 19,123 — (1,837) 17,286 GNMA 111,286 — (4,192) 107,094 Asset backed securities FFELP 163,314 — (4,757) 158,556 SBA 4,797 20 (45) 4,772 Other debt securities 3,000 — (67) 2,933 Total AFS investment securities $ 2,762,393 $ 461 $ (275,542) $ 2,487,312 HTM investment securities U. S. Treasury securities $ 998 $ — $ (66) $ 932 Obligations of state and political subdivisions (municipal securities) 1,737,135 273 (272,360) 1,465,048 Residential mortgage-related securities FNMA / FHLMC 961,946 32,561 (182,409) 812,099 GNMA 43,168 27 (3,872) 39,323 Private-label 369,711 12,167 (74,906) 306,972 Commercial mortgage-related securities FNMA/FHLMC 762,377 16,045 (176,822) 601,600 GNMA 76,217 716 (7,147) 69,787 Total HTM investment securities $ 3,951,553 $ 61,791 $ (717,582) $ 3,295,760 The amortized cost and fair values of AFS and HTM securities at December 31, 2021 were as follows: ($ in Thousands) Amortized Gross Gross Fair Value AFS investment securities U. S. Treasury securities $ 124,291 $ — $ (1,334) $ 122,957 Agency securities 15,000 — (103) 14,897 Obligations of state and political subdivisions (municipal securities) 381,517 18,940 — 400,457 Residential mortgage-related securities FNMA / FHLMC 2,709,399 3,729 (21,249) 2,691,879 GNMA 66,189 1,591 — 67,780 Private-label 332,028 31 (2,335) 329,724 Commercial mortgage-related securities FNMA / FHLMC 357,240 2,686 (9,302) 350,623 GNMA 165,439 1,360 — 166,799 Asset backed securities FFELP 177,974 475 (1,123) 177,325 SBA 6,594 39 (54) 6,580 Other debt securities 3,000 — (6) 2,994 Total AFS investment securities $ 4,338,671 $ 28,850 $ (35,506) $ 4,332,015 HTM investment securities 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 / FHLMC 34,347 1,792 — 36,139 GNMA 48,053 1,578 — 49,631 Commercial mortgage-related securities FNMA / FHLMC 425,937 122 (6,659) 419,400 GNMA 100,907 1,799 (200) 102,506 Total HTM investment securities $ 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 September 30, 2022 were as follows: ($ in Thousands) Amortized Gross Gross Fair Value AFS investment securities U. S. Treasury securities $ 124,403 $ — $ (16,119) $ 108,284 Agency securities 15,000 — (1,601) 13,399 Obligations of state and political subdivisions (municipal securities) 356,539 28 (15,669) 340,898 Residential mortgage-related securities FNMA / FHLMC 1,882,668 413 (227,020) 1,656,061 GNMA 82,263 — (4,234) 78,029 Commercial mortgage-related securities FNMA / FHLMC 19,123 — (1,837) 17,286 GNMA 111,286 — (4,192) 107,094 Asset backed securities FFELP 163,314 — (4,757) 158,556 SBA 4,797 20 (45) 4,772 Other debt securities 3,000 — (67) 2,933 Total AFS investment securities $ 2,762,393 $ 461 $ (275,542) $ 2,487,312 HTM investment securities U. S. Treasury securities $ 998 $ — $ (66) $ 932 Obligations of state and political subdivisions (municipal securities) 1,737,135 273 (272,360) 1,465,048 Residential mortgage-related securities FNMA / FHLMC 961,946 32,561 (182,409) 812,099 GNMA 43,168 27 (3,872) 39,323 Private-label 369,711 12,167 (74,906) 306,972 Commercial mortgage-related securities FNMA/FHLMC 762,377 16,045 (176,822) 601,600 GNMA 76,217 716 (7,147) 69,787 Total HTM investment securities $ 3,951,553 $ 61,791 $ (717,582) $ 3,295,760 The amortized cost and fair values of AFS and HTM securities at December 31, 2021 were as follows: ($ in Thousands) Amortized Gross Gross Fair Value AFS investment securities U. S. Treasury securities $ 124,291 $ — $ (1,334) $ 122,957 Agency securities 15,000 — (103) 14,897 Obligations of state and political subdivisions (municipal securities) 381,517 18,940 — 400,457 Residential mortgage-related securities FNMA / FHLMC 2,709,399 3,729 (21,249) 2,691,879 GNMA 66,189 1,591 — 67,780 Private-label 332,028 31 (2,335) 329,724 Commercial mortgage-related securities FNMA / FHLMC 357,240 2,686 (9,302) 350,623 GNMA 165,439 1,360 — 166,799 Asset backed securities FFELP 177,974 475 (1,123) 177,325 SBA 6,594 39 (54) 6,580 Other debt securities 3,000 — (6) 2,994 Total AFS investment securities $ 4,338,671 $ 28,850 $ (35,506) $ 4,332,015 HTM investment securities 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 / FHLMC 34,347 1,792 — 36,139 GNMA 48,053 1,578 — 49,631 Commercial mortgage-related securities FNMA / FHLMC 425,937 122 (6,659) 419,400 GNMA 100,907 1,799 (200) 102,506 Total HTM investment securities $ 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 September 30, 2022, are shown below: AFS HTM ($ in Thousands) Amortized Fair Amortized Fair Due in one year or less $ 9,023 $ 9,000 $ 16,969 $ 16,931 Due after one year through five years 105,078 97,875 32,282 31,668 Due after five years through ten years 347,517 323,983 164,216 157,427 Due after ten years 37,325 34,656 1,524,666 1,259,955 Total debt securities 498,943 465,514 1,738,134 1,465,980 Residential mortgage-related securities FNMA / FHLMC 1,882,668 1,656,061 961,946 812,099 GNMA 82,263 78,029 43,168 39,323 Private-label — — 369,711 306,972 Commercial mortgage-related securities FNMA / FHLMC 19,123 17,286 762,377 601,600 GNMA 111,286 107,094 76,217 69,787 Asset backed securities FFELP 163,314 158,556 — — SBA 4,797 4,772 — — Total investment securities $ 2,762,393 $ 2,487,312 $ 3,951,553 $ 3,295,760 Ratio of fair value to amortized cost 90.0 % 83.4 % |
Debt Securities, Held-to-maturity, Credit Quality Indicator | The following table summarizes the credit quality indicators of HTM securities at amortized cost at September 30, 2022: ($ in Thousands) AAA AA A Not Rated Total U. S. Treasury securities $ 998 $ — $ — $ — $ 998 Obligations of state and political subdivisions (municipal securities) 807,240 920,765 7,972 1,158 1,737,135 Residential mortgage-related securities FNMA / FHLMC 961,946 — — — 961,946 GNMA 43,168 — — — 43,168 Private-label 369,711 — — — 369,711 Commercial mortgage-related securities FNMA / FHLMC 762,377 — — — 762,377 GNMA 76,217 — — — 76,217 Total HTM securities $ 3,021,657 $ 920,765 $ 7,972 $ 1,158 $ 3,951,553 The following table summarizes the credit quality indicators of HTM securities at amortized cost at December 31, 2021: ($ in Thousands) AAA AA A Not Rated Total 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 / FHLMC 34,347 — — — 34,347 GNMA 48,053 — — — 48,053 Commercial mortgage-related securities FNMA / FHLMC 425,937 — — — 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 | nine months ended September 30, 2022 and 2021: Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Gross gains on AFS securities $ — $ — $ 21 $ 421 Gross (losses) on AFS securities — — (8) (437) Gain on sale and net write-up of equity securities 5,664 — 5,664 — Investment securities gains (losses), net $ 5,664 $ — $ 5,676 $ (16) Proceeds from sales of investment securities $ 248 $ — $ 1,309 $ 158,708 |
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 September 30, 2022: Less than 12 months 12 months or more Total ($ in Thousands) Number Unrealized Fair Number Unrealized Fair Unrealized Fair AFS investment securities U.S. Treasury securities 1 $ (651) $ 4,293 6 $ (15,468) $ 103,991 $ (16,119) $ 108,284 Agency securities — — — 1 (1,601) 13,399 (1,601) 13,399 Obligations of state and political subdivisions (municipal securities) 605 (15,669) 328,806 — — — (15,669) 328,806 Residential mortgage-related securities FNMA / FHLMC 68 (109,670) 827,116 40 (117,350) 802,215 (227,020) 1,629,330 GNMA 17 (4,234) 78,029 — — — (4,234) 78,029 Commercial mortgage-related securities FNMA / FHLMC 1 (1,837) 17,286 — — — (1,837) 17,286 GNMA 36 (4,192) 107,094 — — — (4,192) 107,094 Asset backed securities FFELP 5 (1,735) 66,349 10 (3,022) 92,207 (4,757) 158,556 SBA 1 — 350 7 (45) 2,218 (45) 2,569 Other debt securities 2 (21) 1,979 1 (46) 954 (67) 2,933 Total 736 $ (138,010) $ 1,431,302 65 $ (137,533) $ 1,014,983 $ (275,542) $ 2,446,286 HTM investment securities U.S. Treasury securities 1 $ (66) $ 932 — $ — $ — $ (66) $ 932 Obligations of state and political subdivisions (municipal securities) 1,123 (244,555) 1,350,294 29 (27,805) 53,371 (272,360) 1,403,665 Residential mortgage-related securities FNMA / FHLMC 87 (105,032) 496,903 11 (77,377) 314,998 (182,409) 811,900 GNMA 78 (3,872) 39,323 — — — (3,872) 39,323 Private-label 16 (59,733) 252,382 2 (15,173) 54,590 (74,906) 306,972 Commercial mortgage-related securities FNMA / FHLMC 13 (76,439) 221,584 30 (100,382) 380,012 (176,822) 601,596 GNMA 13 (5,252) 58,883 1 (1,895) 10,904 (7,147) 69,787 Total 1,331 $ (494,950) $ 2,420,301 73 $ (222,632) $ 813,874 $ (717,582) $ 3,234,175 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 months 12 months or more Total ($ in Thousands) Number Unrealized Fair Number Unrealized Fair Unrealized Fair AFS investment securities U.S. Treasury securities 7 $ (1,334) $ 122,957 — $ — $ — $ (1,334) $ 122,957 Agency securities 1 (103) 14,897 — — — (103) 14,897 Residential mortgage-related securities FNMA / FHLMC 74 (21,249) 2,172,837 — — — (21,249) 2,172,837 Private-label 12 (2,335) 248,617 — — — (2,335) 248,617 FNMA / FHLMC commercial mortgage-related securities 19 (9,302) 328,568 — — — (9,302) 328,568 Asset backed securities FFELP 4 (256) 64,282 8 (867) 62,576 (1,123) 126,858 SBA — — — 9 (54) 3,902 (54) 3,902 Other debt securities 3 (6) 2,994 — — — (6) 2,994 Total 120 $ (34,586) $ 2,955,152 17 $ (920) $ 66,478 $ (35,506) $ 3,021,630 HTM investment securities Obligations of state and political subdivisions (municipal securities) 49 $ (1,951) $ 112,038 — $ — $ — $ (1,951) $ 112,038 Commercial mortgage-related securities FNMA/FHLMC 18 (6,272) 388,072 1 (387) 10,775 (6,659) 398,847 GNMA 5 (200) 33,468 — — — (200) 33,468 Total 72 $ (8,422) $ 533,577 1 $ (387) $ 10,775 $ (8,809) $ 544,352 |
Loans Loans (Tables)
Loans Loans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Loan composition | The period end loan composition was as follows: ($ in Thousands) Sep 30, 2022 Dec 31, 2021 PPP $ 1,050 $ 66,070 Asset-based lending & equipment finance (a) 380,830 178,027 Commercial and industrial 9,190,045 8,208,289 Commercial real estate — owner occupied 999,786 971,326 Commercial and business lending 10,571,711 9,423,711 Commercial real estate — investor 5,064,289 4,384,569 Real estate construction 1,835,159 1,808,976 Commercial real estate lending 6,899,449 6,193,545 Total commercial 17,471,159 15,617,256 Residential mortgage 8,314,902 7,567,310 Auto finance 1,117,136 143,045 Home equity 612,608 595,615 Other consumer 301,475 301,723 Total consumer 10,346,121 8,607,693 Total loans $ 27,817,280 $ 24,224,949 (a) Dec 31, 2021 does not include equipment finance . |
Commercial and consumer loans by credit quality indicator | he following table presents commercial and consumer loans by credit quality indicator by origination year at September 30, 2022: Term Loans Amortized Cost Basis by Origination Year (a) ($ in Thousands) Rev Loans Converted to Term (a) Rev Loans Amortized Cost Basis YTD 2022 2021 2020 2019 2018 Prior Total PPP: (b) Risk rating: Pass $ — $ — $ 21 $ 960 $ 28 $ — $ — $ — $ 1,009 Potential Problem — — 40 — — — — — 40 PPP $ — $ — $ 62 $ 960 $ 28 $ — $ — $ — $ 1,050 Asset-based lending & equipment finance: Risk rating: Pass $ — $ 29,680 $ 202,201 $ 112,162 $ 16,349 $ 765 $ 133 $ — $ 361,291 Special Mention — — — — 274 — — — 274 Potential Problem — 1,266 1,500 — 16,500 — — — 19,266 Asset-based lending & equipment finance $ — $ 30,946 $ 203,701 $ 112,162 $ 33,123 $ 765 $ 133 $ — $ 380,830 Commercial and industrial: Risk rating: Pass $ 488 $ 2,281,083 $ 2,283,710 $ 2,422,332 $ 593,095 $ 639,386 $ 353,799 $ 452,229 $ 9,025,634 Special Mention — 9,329 98 14,885 4,675 — 21 30,577 59,585 Potential Problem 154 14,557 17,644 4,615 6,105 39,087 2 7,240 89,250 Nonaccrual 3,979 — 5,379 — 10,182 — — 15 15,576 Commercial and industrial $ 4,621 $ 2,304,968 $ 2,306,830 $ 2,441,833 $ 614,058 $ 678,473 $ 353,821 $ 490,062 $ 9,190,045 Commercial real estate - owner occupied: Risk rating: Pass $ — $ 13,623 $ 179,172 $ 243,087 $ 165,701 $ 163,570 $ 88,718 $ 109,126 $ 962,997 Special Mention — — — — 6,995 1,506 — — 8,502 Potential Problem — 850 475 8,104 3,375 10,473 374 4,635 28,287 Commercial real estate - owner occupied $ — $ 14,473 $ 179,648 $ 251,191 $ 176,071 $ 175,549 $ 89,092 $ 113,761 $ 999,786 Commercial and business lending: Risk rating: Pass $ 488 $ 2,324,387 $ 2,665,105 $ 2,778,541 $ 775,174 $ 803,720 $ 442,650 $ 561,355 $ 10,350,931 Special Mention — 9,329 98 14,885 11,944 1,506 21 30,577 68,360 Potential Problem 154 16,673 19,660 12,719 25,980 49,560 376 11,875 136,843 Nonaccrual 3,979 — 5,379 — 10,182 — — 15 15,576 Commercial and business lending $ 4,621 $ 2,350,388 $ 2,690,241 $ 2,806,146 $ 823,280 $ 854,787 $ 443,047 $ 603,822 $ 10,571,711 Commercial real estate - investor: Risk rating: Pass $ 38,623 $ 64,392 $ 1,285,655 $ 1,568,948 $ 815,494 $ 526,134 $ 289,786 $ 261,243 $ 4,811,653 Special Mention — — 43,113 24,786 8,296 20,855 — 126 97,176 Potential Problem — — 442 44,388 19,432 25,285 19,025 9,409 117,982 Nonaccrual — — 805 36,230 — 444 — — 37,479 Commercial real estate - investor $ 38,623 $ 64,392 $ 1,330,015 $ 1,674,352 $ 843,223 $ 572,718 $ 308,811 $ 270,778 $ 5,064,289 Real estate construction: Risk rating: Pass $ — $ 26,489 $ 568,302 $ 931,799 $ 225,552 $ 21,908 $ 2,572 $ 10,321 $ 1,786,943 Special Mention — — — — 12,014 36,061 — — 48,076 Nonaccrual — — — — — — — 141 141 Real estate construction $ — $ 26,489 $ 568,302 $ 931,799 $ 237,566 $ 57,969 $ 2,572 $ 10,462 $ 1,835,159 Term Loans Amortized Cost Basis by Origination Year (a) ($ in Thousands) Rev Loans Converted to Term (a) Rev Loans Amortized Cost Basis YTD 2022 2021 2020 2019 2018 Prior Total Commercial real estate lending: Risk rating: Pass $ 38,623 $ 90,882 $ 1,853,957 $ 2,500,747 $ 1,041,046 $ 548,041 $ 292,358 $ 271,564 $ 6,598,595 Special Mention — — 43,113 24,786 20,310 56,916 — 126 145,251 Potential Problem — — 442 44,388 19,432 25,285 19,025 9,409 117,982 Nonaccrual — — 805 36,230 — 444 — 141 37,620 Commercial real estate lending $ 38,623 $ 90,882 $ 1,898,317 $ 2,606,151 $ 1,080,789 $ 630,687 $ 311,383 $ 281,241 $ 6,899,449 Total commercial: Risk rating: Pass $ 39,111 $ 2,415,268 $ 4,519,062 $ 5,279,288 $ 1,816,220 $ 1,351,761 $ 735,008 $ 832,919 $ 16,949,527 Special Mention — 9,329 43,211 39,671 32,254 58,423 21 30,703 213,611 Potential Problem 154 16,673 20,101 57,108 45,412 74,846 19,401 21,285 254,825 Nonaccrual 3,979 — 6,183 36,230 10,182 444 — 156 53,196 Total commercial $ 43,243 $ 2,441,270 $ 4,588,558 $ 5,412,296 $ 1,904,069 $ 1,485,474 $ 754,429 $ 885,063 $ 17,471,159 Residential mortgage: Risk rating: Pass $ — $ — $ 1,175,995 $ 2,094,652 $ 1,750,699 $ 832,300 $ 379,935 $ 2,022,844 $ 8,256,426 Special Mention — — — — — — — 146 146 Potential Problem — — 324 201 — 746 626 948 2,845 Nonaccrual — — 4,815 2,479 4,886 3,984 6,411 32,910 55,485 Residential mortgage $ — $ — $ 1,181,134 $ 2,097,333 $ 1,755,585 $ 837,030 $ 386,972 $ 2,056,849 $ 8,314,902 Auto finance: Risk rating: Pass $ — $ — $ 998,531 $ 114,979 $ 416 $ 1,564 $ 598 $ 103 $ 1,116,192 Special Mention — — 509 132 — 1 — — 642 Nonaccrual — — 149 128 — 18 7 — 302 Auto finance $ — $ — $ 999,189 $ 115,240 $ 416 $ 1,583 $ 605 $ 103 $ 1,117,136 Home equity: Risk rating: Pass $ 5,637 $ 502,745 $ 22,620 $ 4,873 $ 1,787 $ 6,113 $ 7,174 $ 58,873 $ 604,186 Special Mention 456 221 — 18 97 — — 575 912 Potential Problem — — — — — 35 5 146 185 Nonaccrual 1,077 50 36 15 67 229 340 6,587 7,325 Home equity $ 7,170 $ 503,016 $ 22,657 $ 4,906 $ 1,951 $ 6,377 $ 7,519 $ 66,181 $ 612,608 Other consumer: Risk rating: Pass $ 97 $ 199,564 $ 6,028 $ 5,093 $ 2,469 $ 1,323 $ 227 $ 86,169 $ 300,873 Special Mention 1 466 5 21 3 8 — 1 504 Nonaccrual 8 53 — 10 8 18 — 9 98 Other consumer $ 106 $ 200,084 $ 6,033 $ 5,124 $ 2,480 $ 1,349 $ 227 $ 86,179 $ 301,475 Total consumer: Risk rating: Pass $ 5,734 $ 702,309 $ 2,203,175 $ 2,219,597 $ 1,755,371 $ 841,300 $ 387,934 $ 2,167,990 $ 10,277,677 Special Mention 458 687 513 172 100 9 — 723 2,204 Potential Problem — — 324 201 — 781 631 1,094 3,030 Nonaccrual 1,085 103 5,001 2,632 4,961 4,249 6,758 39,506 63,210 Total consumer $ 7,277 $ 703,100 $ 2,209,013 $ 2,222,602 $ 1,760,432 $ 846,338 $ 395,323 $ 2,209,313 $ 10,346,121 Total loans: Risk rating: Pass $ 44,845 $ 3,117,577 $ 6,722,237 $ 7,498,885 $ 3,571,591 $ 2,193,062 $ 1,122,942 $ 3,000,909 $ 27,227,203 Special Mention 458 10,016 43,724 39,843 32,354 58,431 21 31,426 215,816 Potential Problem 154 16,673 20,425 57,309 45,412 75,626 20,032 22,378 257,855 Nonaccrual 5,063 103 11,184 38,861 15,143 4,693 6,758 39,662 116,406 Total loans $ 50,520 $ 3,144,369 $ 6,797,570 $ 7,634,899 $ 3,664,501 $ 2,331,812 $ 1,149,753 $ 3,094,376 $ 27,817,280 (a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination. (b) The Corporation’s policy is to assign risk ratings at the borrower level. PPP loans are 100% guaranteed by the SBA and therefore the Corporation considers these loans to have a risk profile similar to pass rated loans. The following table presents commercial and consumer loans by credit quality indicator by origination year at December 31, 2021: Term Loans Amortized Cost Basis by Origination Year (a) ($ in Thousands) Rev Loans Converted to Term (a) Rev Loans Amortized Cost Basis 2021 2020 2019 2018 2017 Prior Total PPP: (b) Risk rating: Pass $ — $ — $ 44,921 $ 18,610 $ — $ — $ — $ — $ 63,531 Special Mention — — 212 281 — — — — 493 Potential Problem — — 2,000 — — — — — 2,000 Nonaccrual — — — 46 — — — — 46 PPP $ — $ — $ 47,134 $ 18,936 $ — $ — $ — $ — $ 66,070 Commercial and industrial: (c) Risk rating: Pass $ 2,084 $ 2,371,605 $ 2,631,753 $ 852,758 $ 986,300 $ 710,491 $ 177,568 $ 493,876 $ 8,224,351 Special Mention — 7,068 5,900 1,695 — — — 2,811 17,474 Potential Problem 2,706 26,387 23,415 19,960 46,296 20,924 104 1,172 138,258 Nonaccrual 76 — 5,996 161 52 24 — — 6,233 Commercial and industrial $ 4,867 $ 2,405,059 $ 2,667,064 $ 874,575 $ 1,032,647 $ 731,439 $ 177,671 $ 497,860 $ 8,386,316 Commercial real estate - owner occupied: Risk rating: Pass $ 10,092 $ 30,869 $ 261,418 $ 178,424 $ 187,073 $ 110,169 $ 54,538 $ 117,011 $ 939,503 Special Mention — 226 — 4,628 — — — 245 5,100 Potential Problem — 526 5,953 4,721 10,047 727 2,204 2,546 26,723 Commercial real estate - owner occupied $ 10,092 $ 31,621 $ 267,371 $ 187,773 $ 197,120 $ 110,896 $ 56,742 $ 119,802 $ 971,326 Commercial and business lending: Risk rating: Pass $ 12,176 $ 2,402,474 $ 2,938,092 $ 1,049,792 $ 1,173,373 $ 820,660 $ 232,106 $ 610,887 $ 9,227,385 Special Mention — 7,294 6,112 6,604 — — — 3,056 23,066 Potential Problem 2,706 26,913 31,368 24,681 56,343 21,651 2,307 3,718 166,981 Nonaccrual 76 — 5,996 207 52 24 — — 6,279 Commercial and business lending $ 14,958 $ 2,436,680 $ 2,981,569 $ 1,081,284 $ 1,229,767 $ 842,335 $ 234,414 $ 617,662 $ 9,423,711 Commercial real estate - investor: Risk rating: Pass $ 37,430 $ 105,521 $ 1,650,936 $ 685,423 $ 867,606 $ 414,079 $ 139,320 $ 230,452 $ 4,093,337 Special Mention — — 57,163 27,384 33,016 72 — 6,781 124,416 Potential Problem — — 21,309 9,860 22,243 34,591 3,564 14,573 106,138 Nonaccrual — — 45,502 8,158 6,820 — — 197 60,677 Commercial real estate - investor $ 37,430 $ 105,521 $ 1,774,910 $ 730,825 $ 929,685 $ 448,741 $ 142,883 $ 252,003 $ 4,384,569 Real estate construction: Risk rating: Pass $ — $ 31,773 $ 843,664 $ 614,469 $ 204,337 $ 48,647 $ 2,229 $ 12,212 $ 1,757,331 Special Mention — — 2,203 11,929 — 15,885 41 2 30,060 Potential Problem — — 37 120 21,251 — — — 21,408 Nonaccrual — — — — — — — 177 177 Real estate construction $ — $ 31,773 $ 845,903 $ 626,518 $ 225,588 $ 64,532 $ 2,270 $ 12,392 $ 1,808,976 Commercial real estate lending: Risk rating: Pass $ 37,430 $ 137,294 $ 2,494,600 $ 1,299,893 $ 1,071,943 $ 462,726 $ 141,549 $ 242,664 $ 5,850,668 Special Mention — — 59,366 39,313 33,016 15,957 41 6,784 154,476 Potential Problem — — 21,345 9,980 43,494 34,591 3,564 14,573 127,546 Nonaccrual — — 45,502 8,158 6,820 — — 374 60,855 Commercial real estate lending $ 37,430 $ 137,294 $ 2,620,814 $ 1,357,343 $ 1,155,273 $ 513,273 $ 145,153 $ 264,395 $ 6,193,545 Term Loans Amortized Cost Basis by Origination Year (a) ($ in Thousands) Rev Loans Converted to Term (a) Rev Loans Amortized Cost Basis 2021 2020 2019 2018 2017 Prior Total Total commercial: Risk rating: Pass $ 49,606 $ 2,539,768 $ 5,432,693 $ 2,349,685 $ 2,245,316 $ 1,283,386 $ 373,655 $ 853,551 $ 15,078,053 Special Mention — 7,294 65,478 45,917 33,016 15,957 41 9,840 177,543 Potential Problem 2,706 26,913 52,713 34,660 99,837 56,241 5,871 18,291 294,527 Nonaccrual 76 — 51,498 8,365 6,872 24 — 374 67,134 Total commercial $ 52,388 $ 2,573,974 $ 5,602,382 $ 2,438,627 $ 2,385,040 $ 1,355,608 $ 379,567 $ 882,057 $ 15,617,256 Residential mortgage: Risk rating: Pass $ — $ — $ 1,771,447 $ 1,945,029 $ 974,188 $ 428,459 $ 673,447 $ 1,716,419 $ 7,508,989 Special Mention — — — — — 285 — 461 746 Potential Problem — — 475 332 404 265 81 658 2,214 Nonaccrual — — 1,993 2,911 4,479 6,224 6,019 33,734 55,362 Residential mortgage $ — $ — $ 1,773,915 $ 1,948,272 $ 979,071 $ 435,233 $ 679,547 $ 1,751,272 $ 7,567,310 Auto finance: Risk rating: Pass $ — $ — $ 137,952 $ 707 $ 2,675 $ 1,200 $ 352 $ 107 $ 142,993 Nonaccrual — — — — 36 15 — — 52 Auto finance $ — $ — $ 137,952 $ 707 $ 2,711 $ 1,216 $ 352 $ 107 $ 143,045 Home equity: Risk rating: Pass $ 6,728 $ 498,970 $ 1,216 $ 1,401 $ 7,640 $ 8,742 $ 7,660 $ 61,251 $ 586,880 Special Mention 133 100 — 102 4 — — 638 844 Potential Problem 6 — 6 — — 13 — 146 165 Nonaccrual 925 35 9 92 211 305 302 6,772 7,726 Home equity $ 7,792 $ 499,104 $ 1,232 $ 1,595 $ 7,856 $ 9,059 $ 7,962 $ 68,807 $ 595,615 Other consumer: Risk rating: Pass $ 443 $ 180,312 $ 9,297 $ 4,987 $ 2,884 $ 371 $ 265 $ 103,075 $ 301,191 Special Mention 7 351 — 4 — — — 7 363 Nonaccrual 6 120 — 14 7 — 19 11 170 Other consumer $ 456 $ 180,783 $ 9,297 $ 5,005 $ 2,890 $ 371 $ 284 $ 103,093 $ 301,723 Total consumer: Risk rating: Pass $ 7,171 $ 679,353 $ 1,919,912 $ 1,952,124 $ 987,387 $ 438,771 $ 681,725 $ 1,880,781 $ 8,540,053 Special Mention 140 451 — 106 4 285 — 1,106 1,952 Potential Problem 6 — 481 332 404 277 81 804 2,379 Nonaccrual 931 154 2,003 3,017 4,733 6,545 6,340 40,517 63,309 Total consumer $ 8,248 $ 679,959 $ 1,922,396 $ 1,955,579 $ 992,528 $ 445,878 $ 688,145 $ 1,923,208 $ 8,607,693 Total loans: Risk rating: Pass $ 56,777 $ 3,219,121 $ 7,352,605 $ 4,301,809 $ 3,232,703 $ 1,722,157 $ 1,055,380 $ 2,734,332 $ 23,618,106 Special Mention 140 7,745 65,478 46,023 33,021 16,241 41 10,946 179,495 Potential Problem 2,713 26,913 53,194 34,992 100,240 56,519 5,952 19,095 296,905 Nonaccrual 1,006 154 53,501 11,382 11,605 6,569 6,340 40,891 130,443 Total loans $ 60,636 $ 3,253,933 $ 7,524,778 $ 4,394,206 $ 3,377,569 $ 1,801,486 $ 1,067,713 $ 2,805,265 $ 24,224,949 (a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination. (b) The Corporation’s policy is to assign risk ratings at the borrower level. PPP loans are 100% guaranteed by the SBA and therefore the Corporation considers these loans to have a risk profile similar to pass rated loans. (c) Includes asset-based lending & equipment finance. |
Summarized details of Loans | The following table presents loans by past due status at September 30, 2022: Accruing ($ in Thousands) Current 30-59 Days 60-89 Days 90+ Days Nonaccrual (a)(b) Total PPP $ 798 $ 231 $ 21 $ — $ — $ 1,050 Asset-based lending & equipment finance 380,830 — — — — 380,830 Commercial and industrial 9,172,739 1,505 104 121 15,576 9,190,045 Commercial real estate - owner occupied 999,786 — — — — 999,786 Commercial and business lending 10,554,153 1,736 124 121 15,576 10,571,711 Commercial real estate - investor 5,026,810 — — — 37,479 5,064,289 Real estate construction 1,834,975 43 — — 141 1,835,159 Commercial real estate lending 6,861,786 43 — — 37,620 6,899,449 Total commercial 17,415,939 1,779 124 121 53,196 17,471,159 Residential mortgage 8,252,714 6,371 146 186 55,485 8,314,902 Auto finance 1,110,628 5,564 642 — 302 1,117,136 Home equity 601,049 3,322 912 — 7,325 612,608 Other consumer 298,675 995 596 1,111 98 301,475 Total consumer 10,263,065 16,252 2,296 1,297 63,210 10,346,121 Total loans $ 27,679,004 $ 18,032 $ 2,421 $ 1,417 $ 116,406 $ 27,817,280 (a) Of the total nonaccrual loans, $72 million, or 62%, were current with respect to payment at September 30, 2022. (b) No interest income was recognized on nonaccrual loans for the three and nine months ended September 30, 2022. In addition, there were $21 million of nonaccrual loans for which there was no related ACLL at September 30, 2022. The following table presents loans by past due status at December 31, 2021: Accruing ($ in Thousands) Current 30-59 Days 60-89 Days 90+ Days Nonaccrual (a)(b) Total PPP $ 65,941 $ 40 $ 43 $ — $ 46 $ 66,070 Asset-based lending 178,027 — — — — 178,027 Commercial and industrial (c) 8,201,272 579 54 151 6,233 8,208,289 Commercial real estate - owner occupied 971,163 163 — — — 971,326 Commercial and business lending 9,416,403 781 97 151 6,279 9,423,711 Commercial real estate - investor 4,323,276 142 474 — 60,677 4,384,569 Real estate construction 1,807,178 1,618 2 — 177 1,808,976 Commercial real estate lending 6,130,454 1,759 477 — 60,855 6,193,545 Total commercial 15,546,857 2,541 573 151 67,134 15,617,256 Residential mortgage 7,505,654 5,500 669 126 55,362 7,567,310 Auto finance 142,982 11 — — 52 143,045 Home equity 584,177 2,867 844 — 7,726 595,615 Other consumer 298,261 1,835 472 986 170 301,723 Total consumer 8,531,074 10,213 1,985 1,111 63,309 8,607,693 Total loans $ 24,077,931 $ 12,754 $ 2,558 $ 1,263 $ 130,443 $ 24,224,949 (a) Of the total nonaccrual loans, $84 million, or 65%, were current with respect to payment at December 31, 2021. (b) No interest income was recognized on nonaccrual loans for the year ended December 31, 2021. In addition, there were $9 million of nonaccrual loans for which there was no related ACLL at December 31, 2021. (c) Includes equipment finance. |
Nonaccrual and performing restructured loans | The following table presents nonaccrual and performing restructured loans by loan portfolio: Sep 30, 2022 Dec 31, 2021 ($ in Thousands) Performing Nonaccrual Restructured Loans (a) Performing Nonaccrual Restructured Loans (a) Commercial and industrial $ 14,829 $ — $ 8,687 $ — Commercial real estate — owner occupied 369 — 967 — Commercial real estate — investor 733 3,268 12,866 3,093 Real estate construction 165 42 242 45 Residential mortgage 16,169 17,372 16,316 13,483 Home equity 2,103 967 2,648 806 Other consumer 764 — 803 — Total restructured loans $ 35,132 $ 21,650 $ 42,530 $ 17,426 (a) Nonaccrual restructured loans have been included within nonaccrual loans. |
Summary of restructured loans | The following table provides the number of loans modified in a TDR by loan portfolio, the recorded investment, and unpaid principal balance for the nine months ended September 30, 2022 and 2021: Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 ($ in Thousands) Number Recorded Investment (a) Unpaid Principal Balance (b) Number Recorded Investment (a) Unpaid Principal Balance (b) Commercial and industrial 2 $ 265 $ 265 4 $ 638 $ 638 Commercial real estate — investor 1 547 573 4 1,682 1,682 Residential mortgage 44 9,641 9,833 55 10,434 10,460 Home equity 12 390 412 7 916 963 Total loans modified 59 $ 10,844 $ 11,083 70 $ 13,670 $ 13,744 (a) Represents post-modification outstanding recorded investment. |
Troubled debt restructurings subsequent redefault | The following table provides the number of loans modified in a TDR during the previous twelve months which subsequently defaulted during the nine months ended September 30, 2022 and 2021, and the recorded investment in these restructured loans as of September 30, 2022 and 2021: Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 ($ in Thousands) Number of Recorded Number of Recorded Residential mortgage 4 $ 1,178 2 $ 200 |
Changes in the allowance for loan losses by portfolio segment | The following table presents a summary of the changes in the ACLL by portfolio segment for the nine months ended September 30, 2022: ($ in Thousands) Dec 31, 2021 Charge offs Recoveries Net Charge offs Provision for credit losses Sep 30, 2022 ACLL / Loans Allowance for loan losses PPP $ 51 $ — $ — $ — $ (50) $ 1 Asset-based lending & equipment finance 4,182 — — — 1,406 5,588 Commercial and industrial 85,624 (3,644) 4,157 512 16,107 102,243 Commercial real estate — owner occupied 11,473 — 10 10 (2,852) 8,631 Commercial and business lending 101,330 (3,644) 4,167 523 14,611 116,464 Commercial real estate — investor 72,803 — — — (12,032) 60,771 Real estate construction 37,643 (48) 90 43 (1,266) 36,419 Commercial real estate lending 110,446 (48) 90 43 (13,299) 97,190 Total commercial 211,776 (3,692) 4,258 565 1,313 213,654 Residential mortgage 40,787 (287) 752 465 (2,345) 38,907 Auto finance 1,999 (228) 53 (175) 13,917 15,741 Home equity 14,011 (524) 1,199 675 (601) 14,086 Other consumer 11,441 (2,434) 792 (1,642) 716 10,516 Total consumer 68,239 (3,472) 2,796 (676) 11,687 79,250 Total loans $ 280,015 $ (7,165) $ 7,054 $ (111) $ 13,000 $ 292,904 Allowance for unfunded commitments Asset-based lending & equipment finance $ 857 $ — $ — $ — $ 184 $ 1,042 Commercial and industrial 17,601 — — — 4 17,606 Commercial real estate — owner occupied 208 — — — (119) 89 Commercial and business lending 18,667 — — — 70 18,737 Commercial real estate — investor 936 — — — (303) 633 Real estate construction 15,586 — — — 552 16,138 Commercial real estate lending 16,522 — — — 249 16,771 Total commercial 35,189 — — — 319 35,508 Home equity 2,592 — — — — 2,592 Other consumer 1,995 — — — (319) 1,675 Total consumer 4,587 — — — (319) 4,268 Total loans $ 39,776 $ — $ — $ — $ — $ 39,776 Allowance for credit losses on loans PPP $ 51 $ — $ — $ — $ (50) $ 1 0.10 % Asset-based lending & equipment finance 5,040 — — — 1,590 6,630 1.74 % Commercial and industrial 103,225 (3,644) 4,157 512 16,112 119,849 1.30 % Commercial real estate — owner occupied 11,681 — 10 10 (2,971) 8,721 0.87 % Commercial and business lending 119,997 (3,644) 4,167 523 14,681 135,200 1.28 % Commercial real estate — investor 73,739 — — — (12,335) 61,404 1.21 % Real estate construction 53,229 (48) 90 43 (714) 52,557 2.86 % Commercial real estate lending 126,968 (48) 90 43 (13,049) 113,961 1.65 % Total commercial 246,965 (3,692) 4,258 565 1,632 249,162 1.43 % Residential mortgage 40,787 (287) 752 465 (2,345) 38,907 0.47 % Auto finance 1,999 (228) 53 (175) 13,917 15,741 1.41 % Home equity 16,603 (524) 1,199 675 (600) 16,678 2.72 % Other consumer 13,436 (2,434) 792 (1,642) 397 12,191 4.04 % Total consumer 72,825 (3,472) 2,796 (676) 11,368 83,517 0.81 % Total loans $ 319,791 $ (7,165) $ 7,054 $ (111) $ 13,000 $ 332,680 1.20 % The following table presents a summary of the changes in the ACLL by portfolio segment for the year ended December 31, 2021: ($ in Thousands) Dec 31, 2020 Charge offs Recoveries Net Charge offs Provision for credit losses Dec 31, 2021 ACLL / Loans Allowance for loan losses PPP $ 531 $ — $ — $ — $ (480) $ 51 Asset-based lending 2,077 — 412 412 1,693 4,182 Commercial and industrial (a) 140,716 (21,564) 8,152 (13,412) (41,680) 85,624 Commercial real estate — owner occupied 11,274 — 120 120 80 11,473 Commercial and business lending 154,598 (21,564) 8,684 (12,880) (40,388) 101,330 Commercial real estate — investor 93,435 (14,346) 3,162 (11,184) (9,448) 72,803 Real estate construction 59,193 (5) 126 121 (21,672) 37,643 Commercial real estate lending 152,629 (14,351) 3,288 (11,063) (31,120) 110,446 Total commercial 307,226 (35,915) 11,972 (23,943) (71,508) 211,776 Residential mortgage 42,996 (880) 841 (38) (2,170) 40,787 Auto finance 174 (22) 31 9 1,816 1,999 Home equity 18,849 (668) 2,854 2,186 (7,024) 14,011 Other consumer 14,456 (3,168) 1,267 (1,901) (1,113) 11,441 Total consumer 76,475 (4,738) 4,993 256 (8,492) 68,239 Total loans $ 383,702 $ (40,652) $ 16,965 $ (23,687) $ (80,000) $ 280,015 Allowance for unfunded commitments Asset-based lending $ 901 $ — $ — $ — $ (43) $ 857 Commercial and industrial (a) 21,411 — — — (3,809) 17,601 Commercial real estate — owner occupied 266 — — — (58) 208 Commercial and business lending 22,577 — — — (3,911) 18,667 Commercial real estate — investor 636 — — — 300 936 Real estate construction 18,887 — — — (3,301) 15,586 Commercial real estate lending 19,523 — — — (3,001) 16,522 Total commercial 42,101 — — — (6,912) 35,189 Home equity 3,118 — — — (526) 2,592 Other consumer 2,557 — — — (563) 1,995 Total consumer 5,675 — — — (1,088) 4,587 Total loans $ 47,776 $ — $ — $ — $ (8,000) $ 39,776 Allowance for credit losses on loans PPP $ 531 $ — $ — $ — $ (480) $ 51 0.08 % Asset-based lending 2,978 — 412 412 1,649 5,040 2.83 % Commercial and industrial (a) 162,126 (21,564) 8,152 (13,412) (45,490) 103,225 1.26 % Commercial real estate — owner occupied 11,539 — 120 120 22 11,681 1.20 % Commercial and business lending 177,175 (21,564) 8,684 (12,880) (44,299) 119,997 1.27 % Commercial real estate — investor 94,071 (14,346) 3,162 (11,184) (9,148) 73,739 1.68 % Real estate construction 78,080 (5) 126 121 (24,972) 53,229 2.94 % Commercial real estate lending 172,152 (14,351) 3,288 (11,063) (34,121) 126,968 2.05 % Total commercial 349,327 (35,915) 11,972 (23,943) (78,419) 246,965 1.58 % Residential mortgage 42,996 (880) 841 (38) (2,170) 40,787 0.54 % Auto finance 174 (22) 31 9 1,816 1,999 1.40 % Home equity 21,967 (668) 2,854 2,186 (7,550) 16,603 2.79 % Other consumer 17,013 (3,168) 1,267 (1,901) (1,676) 13,436 4.45 % Total consumer 82,150 (4,738) 4,993 256 (9,581) 72,825 0.85 % Total loans $ 431,478 $ (40,652) $ 16,965 $ (23,687) $ (88,000) $ 319,791 1.32 % (a) Includes equipment finance. |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of core deposit intangibles and other intangibles | For CDIs and other intangibles, changes in the gross carrying amount, accumulated amortization, and net book value were as follows: ($ in Thousands) Nine Months Ended September 30, 2022 Year Ended Dec 31, 2021 Core deposit intangibles Gross carrying amount at the beginning of period $ 88,109 $ 88,109 Accumulated amortization (36,624) (30,016) Net book value $ 51,485 $ 58,093 Amortization during the period $ 6,608 $ 8,811 Other intangibles Gross carrying amount at the beginning of period $ — $ 2,000 Reductions due to sale — (1,317) Accumulated amortization — (683) Net book value $ — $ — Amortization during the period $ — $ 33 |
Summary of changes in balance of mortgage servicing rights asset and mortgage servicing rights valuation allowance | A summary of changes in the balance of the MSRs asset under the fair value measurement method for the nine months ended September 30, 2022 is as follows: ($ in Thousands) Nine Months Ended September 30, 2022 Mortgage servicing rights Mortgage servicing rights at beginning of period $ 54,862 Cumulative effect of accounting methodology change 2,296 Balance at beginning of period, adjusted $ 57,158 Additions 6,316 Paydowns (7,470) Valuation: Change in fair value model assumptions 5,715 Changes in fair value of asset 16,633 Mortgage servicing rights at end of period $ 78,352 Portfolio of residential mortgage loans serviced for others (“servicing portfolio”) $ 6,800,404 Mortgage servicing rights to servicing portfolio 1.15 % Prior to January 1, 2022, the Corporation accounted for its MSRs under the amortization methodology. Under this methodology the Corporation evaluated its MSRs asset for impairment at minimum on a quarterly basis. Impairment was assessed based on fair value at each reporting date using estimated prepayment speeds of the underlying mortgage loans serviced and stratifications based on the risk characteristics of the underlying loans (predominantly loan type and note interest rate). As mortgage interest rates fell, prepayment speeds were usually faster and the value of the MSRs asset generally decreased, requiring additional valuation reserve. Conversely, as mortgage interest rates rose, prepayment speeds were usually slower and the value of the MSRs asset generally increased, requiring less valuation reserve. A valuation allowance was established, through a charge to earnings, to the extent the amortized cost of the MSRs exceeded the estimated fair value by stratification. An other-than-temporary impairment (i.e., recoverability was considered remote when considering interest rates and loan pay off activity) was recognized as a write-down of the MSRs asset and the related valuation allowance (to the extent a valuation allowance was available) and then against earnings. A direct write-down permanently reduced the carrying value of the MSRs asset and valuation allowance, precluding subsequent recoveries. A summary of changes in the balance of the MSRs asset and the MSRs valuation allowance under the amortization method for the year ended December 31, 2021 is as follows: ($ in Thousands) Year Ended Dec 31, 2021 Mortgage servicing rights Mortgage servicing rights at beginning of period $ 59,967 Additions 16,151 Amortization (19,436) Mortgage servicing rights at end of period $ 56,682 Valuation allowance at beginning of period $ (18,006) Recoveries, net 16,186 Valuation allowance at end of period $ (1,820) Mortgage servicing rights, net $ 54,862 Fair value of mortgage servicing rights $ 57,259 Portfolio of residential mortgage loans serviced for others (“servicing portfolio”) $ 6,994,834 Mortgage servicing rights, net to servicing portfolio 0.78 % Mortgage servicing rights expense (a) $ 3,250 |
Summary of estimated future amortization expense | The following table shows the estimated future amortization expense for CDIs and the decay for MSRs: ($ in Thousands) Core Deposit Intangibles Mortgage Servicing Rights Three months ending December 31, 2022 $ 2,203 $ 3,585 2023 8,811 13,582 2024 8,811 11,827 2025 8,811 10,246 2026 8,811 8,800 2027 8,811 7,451 Beyond 2027 5,227 22,861 Total estimated amortization expense $ 51,485 $ 78,352 |
Short and Long-Term Funding (Ta
Short and Long-Term Funding (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Debt Disclosure [Abstract] | |
Breakdown of short & long-term debt balances | The following table presents the components of short-term funding (funding with original contractual maturities of one year or less) and long-term funding (funding with original contractual maturities greater than one year): ($ in Thousands) Sep 30, 2022 Dec 31, 2021 Short-Term Funding Federal funds purchased $ 505 $ 120 Securities sold under agreements to repurchase 276,169 319,412 Federal funds purchased and securities sold under agreements to repurchase 276,674 319,532 Commercial paper 7,687 34,730 Total short-term funding $ 284,361 $ 354,262 Long-Term Funding Corporation subordinated notes, at par, due 2025 $ 250,000 $ 250,000 Capitalized costs (617) (839) Subordinated debt fair value hedge liability (a) (389) — Finance leases 490 163 Total long-term funding $ 249,484 $ 249,324 Total short and long-term funding, excluding FHLB advances $ 533,844 $ 603,587 FHLB Advances Short-term FHLB advances $ 2,583,000 $ — Long-term FHLB advances 1,208,791 1,621,047 FHLB advance fair value hedge liability (a) (14,314) — Total FHLB advances $ 3,777,478 $ 1,621,047 Total short and long-term funding $ 4,311,322 $ 2,224,633 (a) For additional information on the fair value hedge liability, see Note 10. |
Remaining contractual maturity of securities sold under agreements to repurchase | The remaining contractual maturity of the securities sold under agreements to repurchase on the consolidated balance sheets as of September 30, 2022 and December 31, 2021 are presented in the following table: Overnight and Continuous ($ in Thousands) Sep 30, 2022 Dec 31, 2021 Repurchase agreements Agency mortgage-related securities $ 276,169 $ 319,412 |
Derivative and Hedging Activi_2
Derivative and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 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 Corporation’s derivatives, as well as the balance sheet netting adjustments as of September 30, 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 September 30, 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. Sep 30, 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 Designated as hedging instruments Interest rate-related instruments $ — $ — $ 850,000 $ 906 $ — $ — $ — $ — Not designated as hedging instruments Interest rate-related and other instruments 4,250,397 59,618 4,535,166 264,212 3,874,781 83,626 3,874,781 26,231 Foreign currency exchange forwards 482,983 10,109 458,140 9,524 490,057 5,490 478,745 5,441 Commodity contracts — — — — 3,894 1,264 3,910 1,248 Mortgage banking (a)(b) 41,327 3,492 88,000 403 133,990 2,647 245,016 — Total not designated as hedging instruments 73,218 274,139 93,026 32,921 Gross derivatives before netting 73,218 275,045 93,026 32,921 Less: Legally enforceable master netting agreements 869 869 2,143 2,143 Less: Cash collateral pledged/received 63,699 — 1,313 11,357 Total derivative instruments, after netting $ 8,650 $ 274,176 $ 89,570 $ 19,421 At December 31, 2021, the mortgage derivative asset included approximately $30,000 of forward commitments fair value. |
Balance Sheet Recording of Fair Value Hedge [Table] | The following table presents amounts that were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges: Line Item in the Consolidated Balance Sheets in Which the Hedged Item is Included Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) ($ in Thousands) September 30, 2022 Other long-term funding $ (249,611) $ 389 FHLB Advances (585,686) 14,314 Total $ (835,297) $ 14,703 |
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, 2022 and 2021: Location and Amount Recognized on the Consolidated Statements of Income in Three months ended Sep 30, Nine Months Ended Sep 30, 2022 2021 2022 2021 ($ in Thousands) Interest Income Interest Expense Interest Income Interest Income Interest Expense Interest Income Total amounts of income presented on the consolidated statements of income in which the effects of the fair value hedge are recorded $ (120) $ (380) $ (292) $ (428) $ (380) $ (1,128) The effects of fair value hedging: Impact on fair value hedging relationships in Subtopic 815-20 Interest contracts Hedged items (120) (14,703) (292) (428) (14,703) (1,128) Derivatives designated as hedging instruments (a) — 14,323 — — 14,323 — |
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, 2022 and 2021: Consolidated Statements of Income Category of Gain / (Loss) Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Derivative Instruments Interest rate-related and other instruments — customer and mirror, net Capital markets, net $ (33) $ 557 $ 548 $ 2,546 Interest rate-related instruments — MSRs hedge Mortgage banking, net (3,547) — (12,559) — Foreign currency exchange forwards Capital markets, net 159 (8) 536 109 Commodity contracts Capital markets, net — (124) (16) (1,256) Interest rate lock commitments (mortgage) Mortgage banking, net (1,389) (1,356) (3,020) (4,438) Forward commitments (mortgage) Mortgage banking, net 3,543 1,402 3,415 3,017 |
Balance Sheet Offsetting (Table
Balance Sheet Offsetting (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Offsetting [Abstract] | |
Balance sheet offsetting of derivative assets and liabilities | The following table presents the interest rate and foreign exchange assets and liabilities subject to an enforceable master netting arrangement as of September 30, 2022 and interest rate, commodity, and foreign exchange assets and liabilities subject to an enforceable master netting arrangement as of December 31, 2021. The interest and foreign exchange agreements the Corporation has with its commercial customers and the commodity agreements the Corporation had with its commercial customers are not subject to an enforceable master netting arrangement and are therefore excluded from this table: Gross Amounts Recognized Gross Amounts Subject to Master Netting Arrangements Offset on the Consolidated Balance Sheets Net Amounts Presented on the Consolidated Balance Sheets ($ in Thousands) Derivative Cash Collateral Received Derivative assets September 30, 2022 $ 67,819 $ (869) $ (63,699) $ 3,252 December 31, 2021 3,567 (2,143) (1,313) 111 Gross Amounts Recognized Gross Amounts Subject to Master Netting Arrangements Offset on the Consolidated Balance Sheets Net Amounts Presented on the Consolidated Balance Sheets ($ in Thousands) Derivative Cash Collateral Pledged Derivative liabilities September 30, 2022 $ 870 $ (869) $ — $ 1 December 31, 2021 15,620 (2,143) (11,357) 2,120 |
Commitments, Off-Balance Shee_2
Commitments, Off-Balance Sheet Arrangements, Legal Proceedings and Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of lending-related and other commitments | The following is a summary of lending-related commitments: ($ in Thousands) Sep 30, 2022 Dec 31, 2021 Commitments to extend credit, excluding commitments to originate residential mortgage loans held for sale (a)(b) $ 12,270,556 $ 10,848,136 Commercial letters of credit (a) 5,170 5,992 Standby letters of credit (c) 240,487 230,661 |
Schedule Of Unfunded Commitments [Table Text Block] | The following table presents a summary of the changes in the allowance for unfunded commitments: ($ in Thousands) Nine Months Ended September 30, 2022 Year Ended December 31, 2021 Allowance for Unfunded Commitments Balance at beginning of period $ 39,776 $ 47,776 Provision for unfunded commitments — (8,000) Balance at end of period $ 39,776 $ 39,776 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
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 September 30, 2022 and December 31, 2021, aggregated by the level in the fair value hierarchy within which those measurements fall: ($ in Thousands) Fair Value Hierarchy Sep 30, 2022 Dec 31, 2021 Assets AFS investment securities U.S. Treasury securities Level 1 $ 108,284 $ 122,957 Agency securities Level 2 13,399 14,897 Obligations of state and political subdivisions (municipal securities) Level 2 340,898 400,457 Residential mortgage-related securities FNMA / FHLMC Level 2 1,656,061 2,691,879 GNMA Level 2 78,029 67,780 Private-label Level 2 — 329,724 Commercial mortgage-related securities FNMA / FHLMC Level 2 17,286 350,623 GNMA Level 2 107,094 166,799 Asset backed securities FFELP Level 2 158,556 177,325 SBA Level 2 4,772 6,580 Other debt securities Level 2 2,933 2,994 Total AFS investment securities Level 1 $ 108,284 $ 122,957 Total AFS investment securities Level 2 2,379,028 4,209,058 Equity securities with readily determinable fair values Level 1 5,655 4,810 Residential loans held for sale Level 2 51,134 136,638 Mortgage servicing rights, net (a) Level 3 78,352 N/A Interest rate-related and other instruments not designated as hedging instruments (b) Level 2 59,618 83,626 Foreign currency exchange forwards (b) Level 2 10,109 5,490 Commodity contracts (b) Level 2 — 1,264 Interest rate lock commitments to originate residential mortgage loans held for sale Level 3 — 2,617 Forward commitments on residential mortgage loans Level 3 3,492 30 Liabilities Interest rate-related instruments designated as hedging instruments Level 2 $ 906 $ — Interest rate-related and other instruments not designated as hedging instruments (b) Level 2 264,212 26,231 Foreign currency exchange forwards (b) Level 2 9,524 5,441 Commodity contracts (b) Level 2 — 1,248 Interest rate lock commitments to originate residential mortgage loans held for sale Level 3 403 — (a) MSRs at December 31, 2021 were carried at LOCOM. On January 1, 2022, the Corporation made the irrevocable election to account for MSRs at fair value on a recurring basis. |
Assets and liabilities measured at fair value using significant unobservable inputs (level 3) | The table below presents a rollforward of the consolidated balance sheets amounts for the nine months ended September 30, 2022 and the year ended December 31, 2021, for the Corporation's mortgage derivatives measured on a recurring basis and classified within Level 3 of the fair value hierarchy: ($ in Thousands) Interest rate lock commitments to originate residential mortgage loans held for sale Forward commitments on residential mortgage loans Total Balance December 31, 2020 $ 9,624 $ 2,046 $ 7,579 New production 53,686 (3,281) 56,966 Closed loans / settlements (53,477) 3,740 (57,217) Other (7,216) (2,535) (4,680) Change in mortgage derivative (7,007) (2,076) (4,932) Balance December 31, 2021 $ 2,617 $ (30) $ 2,647 New production $ 9,526 $ (1,734) $ 11,260 Closed loans / settlements (641) 21,244 (21,885) Other (11,905) (22,972) 11,067 Change in mortgage derivative (3,020) (3,462) 442 Balance September 30, 2022 $ (403) $ (3,492) $ 3,089 |
Equity securities without readily determinable fair value | The following table presents the carrying value of equity securities without readily determinable fair values as of September 30, 2022 that are measured under the measurement alternative and the related adjustments recorded during the periods presented for those securities with observable price changes. These securities are included in the nonrecurring fair value tables when applicable price changes are observable. Also shown are the cumulative upward and downward adjustments for the Corporation's equity securities without readily determinable fair values as of September 30, 2022: ($ in Thousands) Equity securities without readily determinable fair values Carrying value as of December 31, 2021 $ 13,542 Carrying value changes 5,690 Additions 4 Sales (12) Carrying value as of September 30, 2022 $ 19,224 Cumulative upward carrying value changes between January 1, 2018 and September 30, 2022 $ 19,134 Cumulative downward carrying value changes/impairment between January 1, 2018 and September 30, 2022 $ — |
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: ($ in Thousands) Fair Value Hierarchy Fair Value Consolidated Statements of Income Category of Adjustment Recognized in Income Adjustment Recognized on the Consolidated Statements of Income (a) September 30, 2022 Assets Individually evaluated loans (b) Level 3 $ 29,558 Provision for credit losses $ 5,010 OREO (c) Level 2 3,534 Other noninterest expense / provision for credit losses (d) 1,639 Equity securities without readily determinable fair values Level 3 19,134 Investment securities gains (losses), net 5,690 December 31, 2021 Assets Individually evaluated loans (b) Level 3 $ 69,917 Provision for credit losses $ (3,045) OREO (c) Level 2 21,299 Other noninterest expense / provision for credit losses (d) 7,345 Mortgage servicing rights (e) Level 3 57,259 Mortgage banking, net 16,186 |
Schedule of assumptions for fair value as of balance sheet date of assets or liabilities that relate to transferor's continuing involvement | The table below presents the unobservable inputs that are readily quantifiable pertaining to Level 3 measurements: September 30, 2022 Valuation Technique Significant Unobservable Input Range of Inputs Weighted Average Input Applied Mortgage servicing rights Discounted cash flow Option adjusted spread 6% - 9% 7% Mortgage servicing rights Discounted cash flow Constant prepayment rate 0% - 100% 9% Individually evaluated loans Appraisals / Discounted cash flow Collateral / Discount factor 29% - 52% 36% Interest rate lock commitments to originate residential mortgage loans held for sale Discounted cash flow Closing Ratio 17% - 100% 83% |
Estimated fair values of financial instruments | Fair value estimates are set forth below for the Corporation’s financial instruments: Sep 30, 2022 Dec 31, 2021 ($ in Thousands) Fair Value Hierarchy Level Carrying Amount Fair Value Carrying Amount Fair Value Financial assets Cash and due from banks Level 1 $ 386,231 $ 386,231 $ 343,831 $ 343,831 Interest-bearing deposits in other financial institutions Level 1 112,173 112,173 681,684 681,684 Federal funds sold and securities purchased under agreements to resell Level 1 4,015 4,015 — — AFS investment securities Level 1 108,284 108,284 122,957 122,957 AFS investment securities Level 2 2,379,028 2,379,028 4,209,058 4,209,058 HTM investment securities, net Level 1 998 932 1,000 1,001 HTM investment securities, net Level 2 3,950,493 3,294,767 2,237,947 2,347,608 Equity securities with readily determinable fair values Level 1 5,655 5,655 4,810 4,810 Equity securities without readily determinable fair values Level 3 19,224 19,224 13,542 13,542 FHLB and Federal Reserve Bank stocks Level 2 279,334 279,334 168,281 168,281 Residential loans held for sale Level 2 51,134 51,134 136,638 136,638 Loans, net Level 3 27,524,376 26,285,810 23,944,934 23,980,330 Bank and corporate owned life insurance Level 2 677,129 677,129 680,021 680,021 Mortgage servicing rights, net (a) Level 3 78,352 78,352 54,862 57,259 Derivatives (other assets) (b) Level 2 69,726 69,726 90,379 90,379 Interest rate lock commitments to originate residential mortgage loans held for sale (other assets) Level 3 — — 2,617 2,617 Forward commitments on residential mortgage loans (other assets) Level 3 3,492 3,492 30 30 Financial liabilities Noninterest-bearing demand, savings, interest-bearing demand, and money market accounts Level 3 $ 27,964,749 $ 27,964,749 $ 27,119,167 $ 27,119,167 Time deposits (c) Level 2 1,233,833 1,233,833 1,347,262 1,347,262 Short-term funding Level 2 284,361 283,755 354,262 354,248 FHLB advances Level 2 3,777,478 3,780,744 1,621,047 1,680,814 Other long-term funding Level 2 249,484 243,586 249,324 265,545 Standby letters of credit (d) Level 2 2,457 2,457 2,367 2,367 Derivatives (accrued expenses and other liabilities) (b) Level 2 274,642 274,642 32,921 32,921 Interest rate lock commitments to originate residential mortgage loans held for sale (accrued expenses and other liabilities) Level 3 403 403 — — (a) MSRs at December 31, 2021 were carried at LOCOM. On January 1, 2022, the Corporation made the irrevocable election to account for MSRs at fair value. |
Retirement Plans (Tables)
Retirement Plans (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Retirement Benefits [Abstract] | |
Net period benefit cost for the pension and postretirement plans | The components of net periodic pension cost and net periodic benefit cost for the RAP and Postretirement Plan for the three and nine months ended September 30, 2022 and 2021 were as follows: Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Components of Net Periodic Benefit Cost RAP Service cost $ 906 $ 1,684 $ 2,752 $ 5,835 Interest cost 1,820 1,682 5,364 4,927 Expected return on plan assets (6,706) (6,395) (20,177) (19,256) Amortization of prior service cost (63) (19) (188) (55) Amortization of actuarial loss 347 1,346 494 3,446 Total net periodic pension cost $ (3,696) $ (1,701) $ (11,754) $ (5,103) Postretirement Plan Interest cost $ 13 $ 13 $ 40 $ 39 Amortization of prior service cost (19) (19) (56) (56) Total net periodic benefit cost $ (6) $ (6) $ (17) $ (17) |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Selected segment information | Information about the Corporation’s segments is presented below: Corporate and Commercial Specialty Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Net interest income $ 161,143 $ 91,012 $ 363,135 $ 270,712 Net intersegment interest income (expense) (37,998) 3,696 (34,774) 12,690 Segment net interest income 123,145 94,709 328,361 283,403 Noninterest income (a) 35,663 41,892 112,620 120,991 Total revenue 158,808 136,601 440,981 404,394 Provision for credit losses 11,904 14,349 36,803 46,745 Noninterest expense 58,934 56,209 172,141 165,568 Income before income taxes 87,970 66,043 232,037 192,082 Income tax expense 16,420 11,920 42,692 35,021 Net income $ 71,551 $ 54,123 $ 189,346 $ 157,060 Allocated goodwill $ 525,836 $ 525,836 Community, Consumer, and Business Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Net interest income $ 87,156 $ 73,616 $ 233,699 $ 218,868 Net intersegment interest income 49,575 15,283 99,046 46,165 Segment net interest income 136,731 88,899 332,745 265,033 Noninterest income 26,745 37,053 92,072 117,351 Total revenue 163,476 125,952 424,817 382,384 Provision for credit losses 5,378 4,748 14,958 15,955 Noninterest expense 107,782 98,172 311,210 300,913 Income before income taxes 50,316 23,032 98,649 65,517 Income tax expense 10,567 4,837 20,716 13,758 Net income $ 39,749 $ 18,196 $ 77,933 $ 51,758 Allocated goodwill $ 579,156 $ 579,156 Risk Management and Shared Services Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Net interest income $ 16,140 $ 19,047 $ 71,498 $ 49,511 Net intersegment (expense) (11,577) (18,980) (64,272) (58,855) Segment net interest income (loss) 4,563 68 7,227 (9,344) Noninterest income 8,381 3,131 16,021 12,520 Total revenue 12,943 3,199 23,247 3,176 Provision for credit losses (283) (43,107) (38,756) (144,717) Noninterest expense 29,076 23,512 67,153 61,233 Income (loss) before income taxes (15,849) 22,794 (5,150) 86,660 Income tax expense (benefit) (824) 6,304 4,769 21,363 Net income (loss) $ (15,025) $ 16,490 $ (9,918) $ 65,298 Allocated goodwill $ — $ — Consolidated Total Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Net interest income $ 264,439 $ 183,675 $ 668,332 $ 539,092 Net intersegment interest income — — — — Segment net interest income 264,439 183,675 668,332 539,092 Noninterest income (a) 70,788 82,076 220,713 250,862 Total revenue 335,227 265,752 889,045 789,954 Provision for credit losses 16,998 (24,010) 13,006 (82,018) Noninterest expense 195,791 177,892 550,503 527,713 Income before income taxes 122,438 111,870 325,536 344,259 Income tax expense 26,163 23,060 68,176 70,142 Net income $ 96,275 $ 88,809 $ 257,360 $ 274,117 Allocated goodwill $ 1,104,992 $ 1,104,992 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Summary of activity in accumulated other comprehensive income (loss) | The following tables summarize the components of accumulated other comprehensive income (loss) at September 30, 2022 and 2021, including changes during the preceding three and nine month periods as well as any reclassifications out of accumulated other comprehensive income (loss): ($ in Thousands) AFS Investment Defined Benefit Accumulated Balance December 31, 2021 $ (5,266) $ (5,051) $ (10,317) Other comprehensive (loss) before reclassifications (268,413) — (268,413) Unrealized (losses) on AFS securities transferred to HTM securities (67,604) — (67,604) Amounts reclassified from accumulated other comprehensive income (loss) Investment securities (gains), net (12) — (12) HTM investment securities, net, at amortized cost 7,269 — 7,269 Personnel (expense) — (244) (244) Other expense — 494 494 Income tax (expense) benefit 83,906 (470) 83,436 Net other comprehensive (loss) during period (244,854) (221) (245,074) Balance September 30, 2022 $ (250,120) $ (5,272) $ (255,391) Balance December 31, 2020 $ 41,325 $ (28,707) $ 12,618 Other comprehensive (loss) before reclassifications (35,829) — (35,829) Amounts reclassified from accumulated other comprehensive income (loss) Investment securities losses, net 16 — 16 HTM investment securities, net, at amortized cost 1,335 — 1,335 Personnel (expense) — (111) (111) Other expense — 3,446 3,446 Income tax (expense) benefit 8,548 (836) 7,712 Net other comprehensive income (loss) during period (25,930) 2,498 (23,431) Balance September 30, 2021 $ 15,395 $ (26,209) $ (10,813) ($ in Thousands) AFS Investment Defined Benefit Accumulated Balance June 30, 2022 $ (177,726) $ (5,062) $ (182,788) Other comprehensive (loss) before reclassifications (100,092) — (100,092) Amounts reclassified from accumulated other comprehensive income (loss) HTM investment securities, net, at amortized cost 2,888 — 2,888 Personnel (expense) — (82) (82) Other expense — 347 347 Income tax (expense) benefit 24,810 (474) 24,336 Net other comprehensive (loss) during period (72,394) (209) (72,603) Balance September 30, 2022 $ (250,120) $ (5,272) $ (255,391) Balance June 30, 2021 $ 30,076 $ (27,187) $ 2,889 Other comprehensive (loss) before reclassifications (19,827) — (19,827) Amounts reclassified from accumulated other comprehensive income (loss) HTM investment securities, net, at amortized cost 172 — 172 Personnel (expense) — (37) (37) Other expense — 1,346 1,346 Income tax (expense) benefit 4,975 (330) 4,644 Net other comprehensive (loss) during period (14,681) 979 (13,702) Balance September 30, 2021 $ 15,395 $ (26,209) $ (10,813) |
Revenue from Contract with Cust
Revenue from Contract with Customer (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of revenue by Major source | The Corporation's disaggregated revenue by major source is presented below: Corporate and Commercial Specialty Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Wealth management fees $ 19,984 $ 22,110 $ 63,719 $ 67,229 Service charges and deposit account fees 3,128 3,948 10,636 11,748 Card-based fees (a) 424 381 1,203 1,011 Other revenue 395 738 2,288 2,552 Noninterest income (in-scope of Topic 606) $ 23,931 $ 27,176 $ 77,846 $ 82,540 Noninterest income (out-of-scope of Topic 606) (b) 11,732 14,717 34,774 38,451 Total noninterest income $ 35,663 $ 41,892 $ 112,620 $ 120,991 Community, Consumer, and Business Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Service charges and deposit account fees $ 11,896 $ 13,009 $ 37,743 $ 35,591 Card-based fees (a) 10,970 10,707 31,629 30,830 Other revenue 1,637 2,088 5,270 8,563 Noninterest income (in-scope of Topic 606) $ 24,503 $ 25,803 $ 74,642 $ 74,984 Noninterest income (out-of-scope of Topic 606) 2,241 11,250 17,431 42,366 Total noninterest income $ 26,745 $ 37,053 $ 92,072 $ 117,351 Risk Management and Shared Services Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Service charges and deposit account fees $ 5 $ 5 $ 13 $ 27 Card-based fees (a) 118 60 101 79 Other revenue 454 55 373 752 Noninterest income (in-scope of Topic 606) $ 577 $ 120 $ 486 $ 858 Noninterest income (out-of-scope of Topic 606) 7,804 3,011 15,535 11,662 Total noninterest income $ 8,381 $ 3,131 $ 16,021 $ 12,520 Consolidated Total Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Wealth management fees $ 19,984 $ 22,110 $ 63,719 $ 67,229 Service charges and deposit account fees 15,029 16,962 48,392 47,366 Card-based fees (a) 11,512 11,147 32,933 31,920 Other revenue 2,486 2,880 7,930 11,868 Noninterest income (in-scope of Topic 606) $ 49,011 $ 53,099 $ 152,974 $ 158,383 Noninterest income (out-of-scope of Topic 606) (b) 21,777 28,977 67,740 92,479 Total noninterest income $ 70,788 $ 82,076 $ 220,713 $ 250,862 (a) Certain card-based fees are out-of-scope of Topic 606. |
Revenue recognition 606 | Below is a listing of performance obligations for the Corporation's main revenue streams: Revenue Stream Noninterest income in-scope of Topic 606 Service charges and deposit account fees Service charges and deposit account fees consist of monthly service fees (i.e. business analyzed fees and consumer service charges) and other deposit account related fees. The Corporation's performance obligation for monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Other deposit account related fees are largely transactional based, and therefore, the Corporation's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges and deposit account fees is primarily received immediately or in the following month through a direct charge to customers’ accounts. Card-based fees (a) Card-based fees are primarily comprised of debit and credit card income, ATM fees, and merchant services income. Debit and credit card income is primarily comprised of interchange fees earned whenever the Corporation's debit and credit cards are processed through card payment networks. ATM and merchant fees are largely transactional based, and therefore, the Corporation's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment is typically received immediately or in the following month. Trust and asset management fees (b) Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Corporation's performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to the customers’ accounts. The Corporation's performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered. Brokerage and advisory fees (b) Brokerage and advisory fees primarily consist of investment advisory, brokerage, retirement services, and annuities. The Corporation's performance obligation for investment advisory services and retirement services is generally satisfied, and the related revenue recognized, over the period in which the services are provided. The performance obligation for annuities is satisfied upon sale of the annuity, and therefore, the related revenue is primarily recognized at the time of sale. Payment for these services are typically received immediately or in advance of the service. (a) Certain card-based fees are out-of-scope of Topic 606. (b) Trust and asset management fees and brokerage and advisory fees are included in wealth management fees. |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Leases [Abstract] | |
Lease, Cost and Cash Flows | Operating and finance lease costs and cash flows resulting from these leases are presented below: Three Months Ended Sep 30, Nine Months Ended Sep 30, ($ in Thousands) 2022 2021 2022 2021 Operating lease costs $ 1,637 $ 2,367 $ 5,361 $ 6,850 Finance lease costs 23 17 96 76 Operating lease cash flows 1,880 2,858 6,614 8,598 Finance lease cash flows 22 21 103 101 |
Components of lease expense | The lease classifications on the consolidated balance sheets were as follows: ($ in Thousands) Consolidated Balance Sheets Category Sep 30, 2022 Dec 31, 2021 Operating lease right-of-use asset Premises and equipment $ 26,970 $ 28,299 Finance lease right-of-use asset Other assets 477 143 Operating lease liability Accrued expenses and other liabilities 29,897 31,345 Finance lease liability Other long-term funding 490 163 |
Operating lease information | The lease payment obligations, weighted-average remaining lease term, and weighted-average original discount rate were as follows: Sep 30, 2022 Dec 31, 2021 ($ in Thousands) Lease payments Weighted-average lease term (in years) Weighted-average discount rate Lease payments Weighted-average lease term (in years) Weighted-average discount rate Operating leases Retail and corporate offices $ 27,640 6.07 2.56 % $ 29,008 5.56 3.26 % Land 4,963 7.53 3.13 % 5,551 8.29 3.12 % Equipment — 0.00 — % 192 1.50 0.45 % Total operating leases $ 32,604 6.28 2.65 % $ 34,751 5.94 3.22 % Finance leases Retail and corporate offices $ 508 5.50 1.32 % $ 112 1.25 1.32 % Land — 0.00 — % 51 0.67 1.07 % Total finance leases $ 508 5.50 1.32 % $ 164 1.07 1.24 % |
Amortization of operating lease liabilities | Contractual lease payment obligations for each of the next five years and thereafter, in addition to a reconciliation to the Corporation’s lease liability, were as follows: ($ in Thousands) Operating Leases Finance Leases Total Leases Three months ending December 31, 2022 $ 1,641 $ 22 $ 1,664 2023 6,224 92 6,316 2024 5,669 93 5,761 2025 4,548 93 4,641 2026 4,249 93 4,342 Beyond 2026 10,272 116 10,388 Total lease payments $ 32,604 $ 508 $ 33,111 Less: interest 2,707 18 2,724 Present value of lease payments $ 29,897 $ 490 $ 30,387 |
Acquisitions (Details Textuals)
Acquisitions (Details Textuals) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 USD ($) | Sep. 30, 2022 USD ($) branch | Dec. 31, 2021 USD ($) branch | Mar. 01, 2021 USD ($) | Feb. 26, 2021 USD ($) percent branch | |
Business Acquisition [Line Items] | |||||
Number of Businesses Acquired | branch | 0 | 0 | |||
Branch Sales | branch | 1 | ||||
Deposits | $ 29,198,581 | $ 28,466,430 | $ 31,000 | ||
Business Combination, Acquired Receivables, Gross Contractual Amount | $ 0 | ||||
Purchase premium on deposits transferred | percent | 0.04 | ||||
Whitnell | |||||
Business Acquisition [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Consideration | $ 8,000 | ||||
Gain (Loss) on Disposition of Other Assets | $ 2,000 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) (Textuals) $ in Thousands | Jan. 01, 2022 USD ($) |
Accounting Changes and Error Corrections [Abstract] | |
Cumulative effect of accounting methodology change | $ 2,296 |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Earnings Per Share [Abstract] | ||||||||
Net income | $ 96,275 | $ 86,824 | $ 74,262 | $ 88,809 | $ 91,007 | $ 94,301 | $ 257,360 | $ 274,117 |
Preferred stock dividends | (2,875) | (4,155) | (8,625) | (14,236) | ||||
Net income available to common equity | 93,400 | 84,655 | 248,735 | 259,880 | ||||
Common shareholder dividends | (30,149) | (30,323) | (90,647) | (85,604) | ||||
Unvested share-based payment awards | (194) | (222) | (609) | (634) | ||||
Undistributed earnings | 63,057 | 54,109 | 157,479 | 173,642 | ||||
Undistributed earnings allocated to common shareholders | 62,648 | 53,716 | 156,454 | 172,436 | ||||
Undistributed earnings allocated to unvested share-based payment awards | 409 | 393 | 1,025 | 1,206 | ||||
Basic | ||||||||
Distributed earnings to common shareholders | 30,149 | 30,323 | 90,647 | 85,604 | ||||
Undistributed earnings allocated to common shareholders | 62,648 | 53,716 | 156,454 | 172,436 | ||||
Total common shareholders earnings, basic | 92,796 | 84,039 | 247,102 | 258,040 | ||||
Diluted | ||||||||
Distributed earnings to common shareholders | 30,149 | 30,323 | 90,647 | 85,604 | ||||
Undistributed earnings allocated to common shareholders | 62,648 | 53,716 | 156,454 | 172,436 | ||||
Total common shareholders earnings, diluted | $ 92,796 | $ 84,039 | $ 247,102 | $ 258,040 | ||||
Weighted average common shares outstanding | 149,321 | 150,046 | 149,063 | 151,473 | ||||
Effect of dilutive common stock awards | 942 | 1,096 | 1,141 | 1,228 | ||||
Diluted weighted average common shares outstanding | 150,262 | 151,143 | 150,205 | 152,701 | ||||
Basic earnings per common share | $ 0.62 | $ 0.56 | $ 1.66 | $ 1.70 | ||||
Diluted earnings per common share | $ 0.62 | $ 0.56 | $ 1.65 | $ 1.69 |
Earnings Per Common Share (De_2
Earnings Per Common Share (Details Textuals) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Approximate anti-dilutive stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 |
Stock-Based Compensation, Stock
Stock-Based Compensation, Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Stock Options Shares Outstanding, Beginning balance (in shares) | 4,814 | |
Exercised | 436 | |
Forfeited or expired | 62 | |
Stock Options Shares Outstanding, Ending balance (in shares) | 4,316 | 4,814 |
Options exercisable (in shares) | 3,735 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||
Stock Option Outstanding, Weighted Average Exercise Price, Beginning balance (in usd per share) | $ 20.72 | |
Exercised | 17.61 | |
Forfeited | 19.83 | |
Stock Option Outstanding, Weighted Average Exercise Price, Ending balance (in usd per share) | 21.05 | $ 20.72 |
Options Exercisable, Weighted Average Exercise Price (in usd per share) | $ 21.35 | |
Stock Options Outstanding, Weighted Average Remaining Contractual Term | 5 years 1 month 20 days | 5 years 11 months 15 days |
Options exercisable, Weighted Average Remaining Contractual Term | 4 years 9 months 25 days | |
Stock Options Outstanding, Aggregate Intrinsic Value, Beginning balance | $ 12,532 | |
Stock Options Outstanding, Aggregate Intrinsic Value, Ending balance | 4,506 | $ 12,532 |
Options exercisable, Aggregate Intrinsic Value | $ 3,547 |
Stock-Based Compensation, Restr
Stock-Based Compensation, Restricted Stock Activity (Details) shares in Thousands | 9 Months Ended |
Sep. 30, 2022 $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Outstanding Shares, Beginning balance (in shares) | shares | 2,635 |
Granted | shares | 785 |
Vested | shares | 948 |
Forfeited | shares | 109 |
Outstanding Shares, Ending balance (in shares) | shares | 2,363 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Outstanding, Weighted Average Grant Date Fair Value, Beginning balance (in usd per share) | $ / shares | $ 19.87 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 22.91 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 21.83 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 20.30 |
Outstanding Weighted Average Grant Date Fair Value, Ending balance (in usd per share) | $ / shares | $ 20.91 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details Textuals) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award | ||
Intrinsic value of stock options exercised | $ 3,000 | $ 6,000 |
Total fair value of vested stock options | $ 2,000 | 3,000 |
Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 0% | |
Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 150% | |
Employee Stock Option | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Recognized compensation expense for vesting | $ 587 | 1,000 |
Recognized compensation expense for accelerated vesting | 0 | |
Unvested share-based payment awards | 563 | |
Share-based Payment Arrangement, Expense | 587 | $ 1,000 |
Share-based Payment Arrangement, Accelerated Cost | $ 0 | |
Performance-based Restricted Stock Award | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years |
Service-based Restricted Stock Award | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | 4 years |
Restricted Stock Award | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Recognized compensation expense for vesting | $ 13,000 | $ 11,000 |
Recognized compensation expense for accelerated vesting | 3,000 | |
Unvested share-based payment awards | $ 24,000 | |
Remaining requisite service periods, extend through | first quarter of 2026 | |
Share-based Payment Arrangement, Expense | $ 13,000 | $ 11,000 |
Share-based Payment Arrangement, Accelerated Cost | $ 3,000 |
Investment Securities, AFS and
Investment Securities, AFS and HTM Securities Amortized Costs and Fair Values (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 2,762,393 | $ 4,338,671 |
Debt Securities, Available-for-sale, Unrealized Gain | 461 | 28,850 |
Debt Securities, Available-for-sale, Unrealized Loss | (275,542) | (35,506) |
Debt Securities, Available-for-sale | 2,487,312 | 4,332,015 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 3,951,553 | 2,239,003 |
Held-to-maturity, Gross Unrealized Gains | 61,791 | 118,471 |
Held-to-maturity, Gross Unrealized Loss | (717,582) | (8,809) |
Held-to-maturity, Fair Value | 3,295,760 | 2,348,664 |
US Treasury Securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 124,403 | 124,291 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss | (16,119) | (1,334) |
Debt Securities, Available-for-sale | 108,284 | 122,957 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 998 | 1,000 |
Held-to-maturity, Gross Unrealized Gains | 0 | 1 |
Held-to-maturity, Gross Unrealized Loss | (66) | 0 |
Held-to-maturity, Fair Value | 932 | 1,001 |
Agency Securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 15,000 | 15,000 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss | (1,601) | (103) |
Debt Securities, Available-for-sale | 13,399 | 14,897 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 356,539 | 381,517 |
Debt Securities, Available-for-sale, Unrealized Gain | 28 | 18,940 |
Debt Securities, Available-for-sale, Unrealized Loss | (15,669) | 0 |
Debt Securities, Available-for-sale | 340,898 | 400,457 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,737,135 | 1,628,759 |
Held-to-maturity, Gross Unrealized Gains | 273 | 113,179 |
Held-to-maturity, Gross Unrealized Loss | (272,360) | (1,951) |
Held-to-maturity, Fair Value | 1,465,048 | 1,739,988 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 0 | 332,028 |
Debt Securities, Available-for-sale, Unrealized Gain | 31 | |
Debt Securities, Available-for-sale, Unrealized Loss | (2,335) | |
Debt Securities, Available-for-sale | 0 | 329,724 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 369,711 | |
Held-to-maturity, Gross Unrealized Gains | 12,167 | |
Held-to-maturity, Gross Unrealized Loss | (74,906) | |
Held-to-maturity, Fair Value | 306,972 | |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 163,314 | 177,974 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 475 |
Debt Securities, Available-for-sale, Unrealized Loss | (4,757) | (1,123) |
Debt Securities, Available-for-sale | 158,556 | 177,325 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |
Held-to-maturity, Fair Value | 0 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 4,797 | 6,594 |
Debt Securities, Available-for-sale, Unrealized Gain | 20 | 39 |
Debt Securities, Available-for-sale, Unrealized Loss | (45) | (54) |
Debt Securities, Available-for-sale | 4,772 | 6,580 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |
Held-to-maturity, Fair Value | 0 | |
Other Debt securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 3,000 | 3,000 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss | (67) | (6) |
Debt Securities, Available-for-sale | 2,933 | 2,994 |
FNMA/FHLMC | Residential Related Securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,882,668 | 2,709,399 |
Debt Securities, Available-for-sale, Unrealized Gain | 413 | 3,729 |
Debt Securities, Available-for-sale, Unrealized Loss | (227,020) | (21,249) |
Debt Securities, Available-for-sale | 1,656,061 | 2,691,879 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 961,946 | 34,347 |
Held-to-maturity, Gross Unrealized Gains | 32,561 | 1,792 |
Held-to-maturity, Gross Unrealized Loss | (182,409) | 0 |
Held-to-maturity, Fair Value | 812,099 | 36,139 |
FNMA/FHLMC | Commercial mortgage-related securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 19,123 | 357,240 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 2,686 |
Debt Securities, Available-for-sale, Unrealized Loss | (1,837) | (9,302) |
Debt Securities, Available-for-sale | 17,286 | 350,623 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 762,377 | 425,937 |
Held-to-maturity, Gross Unrealized Gains | 16,045 | 122 |
Held-to-maturity, Gross Unrealized Loss | (176,822) | (6,659) |
Held-to-maturity, Fair Value | 601,600 | 419,400 |
Government National Mortgage Association (GNMA) [Member] | Residential Related Securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 82,263 | 66,189 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 1,591 |
Debt Securities, Available-for-sale, Unrealized Loss | (4,234) | 0 |
Debt Securities, Available-for-sale | 78,029 | 67,780 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 43,168 | 48,053 |
Held-to-maturity, Gross Unrealized Gains | 27 | 1,578 |
Held-to-maturity, Gross Unrealized Loss | (3,872) | 0 |
Held-to-maturity, Fair Value | 39,323 | 49,631 |
Government National Mortgage Association (GNMA) [Member] | Commercial mortgage-related securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 111,286 | 165,439 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 1,360 |
Debt Securities, Available-for-sale, Unrealized Loss | (4,192) | 0 |
Debt Securities, Available-for-sale | 107,094 | 166,799 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 76,217 | 100,907 |
Held-to-maturity, Gross Unrealized Gains | 716 | 1,799 |
Held-to-maturity, Gross Unrealized Loss | (7,147) | (200) |
Held-to-maturity, Fair Value | $ 69,787 | $ 102,506 |
Investment Securities, AFS an_2
Investment Securities, AFS and HTM Contractual Maturities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Amortized Cost | ||
Available for Sale, Due in one year or less | $ 9,023 | |
Available for Sale, Due after one year through five years | 105,078 | |
Available for Sale, Due after five years through ten years | 347,517 | |
Available for Sale, Due after ten years | 37,325 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 498,943 | |
Available for Sale, Total debt securities | 2,762,393 | $ 4,338,671 |
Fair Value | ||
Available for Sale, Due in one year or less | 9,000 | |
Available for Sale, Due after one year through five years | 97,875 | |
Available for Sale, Due after five years through ten years | 323,983 | |
Available for Sale, Due after ten years | 34,656 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 465,514 | |
Available for Sale, Total debt securities | $ 2,487,312 | 4,332,015 |
Available for Sale, Ratio of Fair Value to Amortized Cost | 90% | |
Amortized Cost | ||
Held to Maturity, Due in one year or less | $ 16,969 | |
Held to Maturity, Due after one year through five years | 32,282 | |
Held to Maturity, Due after five years through ten years | 164,216 | |
Held to Maturity, Due after ten years | 1,524,666 | |
Held to Maturity, Total Debt Securities | 1,738,134 | |
Held to Maturity, Amortized Cost | 3,951,553 | 2,239,003 |
Fair Value | ||
Held to Maturity, Due in one year or less | 16,931 | |
Held to Maturity, Due after one year through five years | 31,668 | |
Held to Maturity, Due after five years through ten years | 157,427 | |
Held to Maturity, Due after ten years | 1,259,955 | |
Held to Maturity, Securities, Debt Securities | 1,465,980 | |
Held to Maturity, Total debt securities at fair value | $ 3,295,760 | 2,348,664 |
Held to Maturity, Ratio of Fair Value to Amortized Cost | 83.40% | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Amortized Cost | ||
Available for Sale, Total debt securities | $ 0 | 332,028 |
Fair Value | ||
Available for Sale, Total debt securities | 0 | 329,724 |
Amortized Cost | ||
Held to Maturity, Amortized Cost | 369,711 | |
Fair Value | ||
Held to Maturity, Total debt securities at fair value | 306,972 | |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||
Amortized Cost | ||
Available for Sale, Total debt securities | 163,314 | 177,974 |
Fair Value | ||
Available for Sale, Total debt securities | 158,556 | 177,325 |
Amortized Cost | ||
Held to Maturity, Amortized Cost | 0 | |
Fair Value | ||
Held to Maturity, Total debt securities at fair value | 0 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Amortized Cost | ||
Available for Sale, Total debt securities | 4,797 | 6,594 |
Fair Value | ||
Available for Sale, Total debt securities | 4,772 | 6,580 |
Amortized Cost | ||
Held to Maturity, Amortized Cost | 0 | |
Fair Value | ||
Held to Maturity, Total debt securities at fair value | 0 | |
FNMA/FHLMC | Residential Related Securities | ||
Amortized Cost | ||
Available for Sale, Total debt securities | 1,882,668 | 2,709,399 |
Fair Value | ||
Available for Sale, Total debt securities | 1,656,061 | 2,691,879 |
Amortized Cost | ||
Held to Maturity, Amortized Cost | 961,946 | 34,347 |
Fair Value | ||
Held to Maturity, Total debt securities at fair value | 812,099 | 36,139 |
FNMA/FHLMC | Commercial mortgage-related securities | ||
Amortized Cost | ||
Available for Sale, Total debt securities | 19,123 | 357,240 |
Fair Value | ||
Available for Sale, Total debt securities | 17,286 | 350,623 |
Amortized Cost | ||
Held to Maturity, Amortized Cost | 762,377 | 425,937 |
Fair Value | ||
Held to Maturity, Total debt securities at fair value | 601,600 | 419,400 |
Government National Mortgage Association (GNMA) [Member] | Residential Related Securities | ||
Amortized Cost | ||
Available for Sale, Total debt securities | 82,263 | 66,189 |
Fair Value | ||
Available for Sale, Total debt securities | 78,029 | 67,780 |
Amortized Cost | ||
Held to Maturity, Amortized Cost | 43,168 | 48,053 |
Fair Value | ||
Held to Maturity, Total debt securities at fair value | 39,323 | 49,631 |
Government National Mortgage Association (GNMA) [Member] | Commercial mortgage-related securities | ||
Amortized Cost | ||
Available for Sale, Total debt securities | 111,286 | 165,439 |
Fair Value | ||
Available for Sale, Total debt securities | 107,094 | 166,799 |
Amortized Cost | ||
Held to Maturity, Amortized Cost | 76,217 | 100,907 |
Fair Value | ||
Held to Maturity, Total debt securities at fair value | $ 69,787 | $ 102,506 |
Investment Securities, HTM Cred
Investment Securities, HTM Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | $ 3,951,553 | $ 2,239,003 |
US Treasury Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 998 | 1,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,737,135 | 1,628,759 |
Residential Related Securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 961,946 | 34,347 |
Residential Related Securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 43,168 | 48,053 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 369,711 | |
Commercial mortgage-related securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 762,377 | 425,937 |
Commercial mortgage-related securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 76,217 | 100,907 |
Not Rated [Domain] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,158 | 896 |
Not Rated [Domain] | US Treasury Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
Not Rated [Domain] | US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,158 | 896 |
Not Rated [Domain] | Residential Related Securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
Not Rated [Domain] | Residential Related Securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
Not Rated [Domain] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |
Not Rated [Domain] | Commercial mortgage-related securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
Not Rated [Domain] | Commercial mortgage-related securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
AAA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 3,021,657 | 1,312,642 |
AAA | US Treasury Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 998 | 1,000 |
AAA | US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 807,240 | 702,399 |
AAA | Residential Related Securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 961,946 | 34,347 |
AAA | Residential Related Securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 43,168 | 48,053 |
AAA | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 369,711 | |
AAA | Commercial mortgage-related securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 762,377 | 425,937 |
AAA | Commercial mortgage-related securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 76,217 | 100,907 |
AA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 920,765 | 914,591 |
AA | US Treasury Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
AA | US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 920,765 | 914,591 |
AA | Residential Related Securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
AA | Residential Related Securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
AA | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |
AA | Commercial mortgage-related securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
AA | Commercial mortgage-related securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
A | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 7,972 | 10,873 |
A | US Treasury Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
A | US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 7,972 | 10,873 |
A | Residential Related Securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
A | Residential Related Securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
A | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |
A | Commercial mortgage-related securities | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | 0 |
A | Commercial mortgage-related securities | Government National Mortgage Association (GNMA) [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | $ 0 | $ 0 |
Investment Securities Gain_Loss
Investment Securities Gain/Loss Sale of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | ||||||
Gross gains on AFS securities | $ 0 | $ 0 | $ 21 | $ 421 | ||
Gross (losses) on AFS securities | 0 | 0 | (8) | (437) | ||
Gain on sale and net write-up of equity securities | 5,664 | 0 | 5,664 | 0 | ||
Investment securities gains (losses), net | 5,664 | 0 | 5,676 | (16) | ||
Proceeds from sales of investment securities | $ 248 | $ 0 | $ 107,000 | $ 51,000 | $ 1,309 | $ 158,708 |
Investment Securities, AFS an_3
Investment Securities, AFS and HTM Securities Gross Unrealized Losses (Details) $ in Thousands | Sep. 30, 2022 USD ($) security | Dec. 31, 2021 USD ($) security |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 736 | 120 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (138,010) | $ (34,586) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 1,431,302 | $ 2,955,152 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 65 | 17 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (137,533) | $ (920) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,014,983 | 66,478 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (275,542) | (35,506) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,446,286 | 3,021,630 |
HTM investment securities | ||
Unrealized losses on held to maturity securities, less than 12 months | (494,950) | (8,422) |
Fair value of unrealized losses on held to maturity securities, less than 12 months | 2,420,301 | 533,577 |
Unrealized losses on held to maturity securities, 12 months or more | (222,632) | (387) |
Fair value of unrealized losses on held to maturity securities, 12 months or more | 813,874 | 10,775 |
Total unrealized losses on held to maturity securities | (717,582) | (8,809) |
Total fair value of unrealized losses on held to maturity securities | $ 3,234,175 | $ 544,352 |
Held to maturity, number of securities, 12 months or more | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 73 | 1 |
Held to maturity, number of securities, less than 12 months | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 1,331 | 72 |
US Treasury Securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 1 | 7 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (651) | $ (1,334) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 4,293 | $ 122,957 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 6 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (15,468) | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 103,991 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (16,119) | (1,334) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 108,284 | $ 122,957 |
HTM investment securities | ||
Unrealized losses on held to maturity securities, less than 12 months | (66) | |
Fair value of unrealized losses on held to maturity securities, less than 12 months | 932 | |
Unrealized losses on held to maturity securities, 12 months or more | 0 | |
Fair value of unrealized losses on held to maturity securities, 12 months or more | 0 | |
Total unrealized losses on held to maturity securities | (66) | |
Total fair value of unrealized losses on held to maturity securities | $ 932 | |
US Treasury Securities | Held to maturity, number of securities, 12 months or more | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 0 | |
US Treasury Securities | Held to maturity, number of securities, less than 12 months | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 1 | |
Agency Securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 0 | 1 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ (103) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 0 | $ 14,897 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 1 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (1,601) | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 13,399 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (1,601) | (103) |
Debt Securities, Available-for-sale, Unrealized Loss Position | $ 13,399 | 14,897 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 605 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (15,669) | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 328,806 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (15,669) | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 328,806 | |
HTM investment securities | ||
Unrealized losses on held to maturity securities, less than 12 months | (244,555) | (1,951) |
Fair value of unrealized losses on held to maturity securities, less than 12 months | 1,350,294 | 112,038 |
Unrealized losses on held to maturity securities, 12 months or more | (27,805) | 0 |
Fair value of unrealized losses on held to maturity securities, 12 months or more | 53,371 | 0 |
Total unrealized losses on held to maturity securities | (272,360) | (1,951) |
Total fair value of unrealized losses on held to maturity securities | $ 1,403,665 | $ 112,038 |
US States and Political Subdivisions Debt Securities [Member] | Held to maturity, number of securities, 12 months or more | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 29 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Held to maturity, number of securities, less than 12 months | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 1,123 | 49 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 12 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (2,335) | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 248,617 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (2,335) | |
Debt Securities, Available-for-sale, Unrealized Loss Position | $ 248,617 | |
HTM investment securities | ||
Unrealized losses on held to maturity securities, less than 12 months | $ (59,733) | |
Fair value of unrealized losses on held to maturity securities, less than 12 months | 252,382 | |
Unrealized losses on held to maturity securities, 12 months or more | (15,173) | |
Fair value of unrealized losses on held to maturity securities, 12 months or more | 54,590 | |
Total unrealized losses on held to maturity securities | (74,906) | |
Total fair value of unrealized losses on held to maturity securities | $ 306,972 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Held to maturity, number of securities, 12 months or more | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 2 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Held to maturity, number of securities, less than 12 months | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 16 | |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 5 | 4 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (1,735) | $ (256) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 66,349 | $ 64,282 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 10 | 8 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (3,022) | $ (867) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 92,207 | 62,576 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (4,757) | (1,123) |
Debt Securities, Available-for-sale, Unrealized Loss Position | $ 158,556 | $ 126,858 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 1 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 350 | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 7 | 9 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (45) | $ (54) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 2,218 | 3,902 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (45) | (54) |
Debt Securities, Available-for-sale, Unrealized Loss Position | $ 2,569 | $ 3,902 |
Other Debt securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 2 | 3 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (21) | $ (6) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 1,979 | $ 2,994 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 1 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (46) | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 954 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (67) | (6) |
Debt Securities, Available-for-sale, Unrealized Loss Position | $ 2,933 | $ 2,994 |
FNMA/FHLMC | Residential Related Securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 68 | 74 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (109,670) | $ (21,249) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 827,116 | $ 2,172,837 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 40 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ (117,350) | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 802,215 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (227,020) | (21,249) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,629,330 | $ 2,172,837 |
HTM investment securities | ||
Unrealized losses on held to maturity securities, less than 12 months | (105,032) | |
Fair value of unrealized losses on held to maturity securities, less than 12 months | 496,903 | |
Unrealized losses on held to maturity securities, 12 months or more | (77,377) | |
Fair value of unrealized losses on held to maturity securities, 12 months or more | 314,998 | |
Total unrealized losses on held to maturity securities | (182,409) | |
Total fair value of unrealized losses on held to maturity securities | $ 811,900 | |
FNMA/FHLMC | Residential Related Securities | Held to maturity, number of securities, 12 months or more | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 11 | |
FNMA/FHLMC | Residential Related Securities | Held to maturity, number of securities, less than 12 months | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 87 | |
FNMA/FHLMC | Commercial mortgage-related securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 1 | 19 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (1,837) | $ (9,302) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 17,286 | $ 328,568 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (1,837) | (9,302) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 17,286 | 328,568 |
HTM investment securities | ||
Unrealized losses on held to maturity securities, less than 12 months | (76,439) | (6,272) |
Fair value of unrealized losses on held to maturity securities, less than 12 months | 221,584 | 388,072 |
Unrealized losses on held to maturity securities, 12 months or more | (100,382) | (387) |
Fair value of unrealized losses on held to maturity securities, 12 months or more | 380,012 | 10,775 |
Total unrealized losses on held to maturity securities | (176,822) | (6,659) |
Total fair value of unrealized losses on held to maturity securities | $ 601,596 | $ 398,847 |
FNMA/FHLMC | Commercial mortgage-related securities | Held to maturity, number of securities, 12 months or more | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 30 | 1 |
FNMA/FHLMC | Commercial mortgage-related securities | Held to maturity, number of securities, less than 12 months | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 13 | 18 |
Government National Mortgage Association (GNMA) [Member] | Residential Related Securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 17 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (4,234) | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 78,029 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (4,234) | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 78,029 | |
HTM investment securities | ||
Unrealized losses on held to maturity securities, less than 12 months | (3,872) | |
Fair value of unrealized losses on held to maturity securities, less than 12 months | 39,323 | |
Unrealized losses on held to maturity securities, 12 months or more | 0 | |
Fair value of unrealized losses on held to maturity securities, 12 months or more | 0 | |
Total unrealized losses on held to maturity securities | (3,872) | |
Total fair value of unrealized losses on held to maturity securities | $ 39,323 | |
Government National Mortgage Association (GNMA) [Member] | Residential Related Securities | Held to maturity, number of securities, 12 months or more | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 0 | |
Government National Mortgage Association (GNMA) [Member] | Residential Related Securities | Held to maturity, number of securities, less than 12 months | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 78 | |
Government National Mortgage Association (GNMA) [Member] | Commercial mortgage-related securities | ||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 36 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ (4,192) | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 107,094 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (4,192) | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 107,094 | |
HTM investment securities | ||
Unrealized losses on held to maturity securities, less than 12 months | (5,252) | $ (200) |
Fair value of unrealized losses on held to maturity securities, less than 12 months | 58,883 | 33,468 |
Unrealized losses on held to maturity securities, 12 months or more | (1,895) | 0 |
Fair value of unrealized losses on held to maturity securities, 12 months or more | 10,904 | 0 |
Total unrealized losses on held to maturity securities | (7,147) | (200) |
Total fair value of unrealized losses on held to maturity securities | $ 69,787 | $ 33,468 |
Government National Mortgage Association (GNMA) [Member] | Commercial mortgage-related securities | Held to maturity, number of securities, 12 months or more | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 1 | 0 |
Government National Mortgage Association (GNMA) [Member] | Commercial mortgage-related securities | Held to maturity, number of securities, less than 12 months | ||
HTM investment securities | ||
Number of held to maturity securities in a continuous unrealized loss position | security | 13 | 5 |
Investment Securities (Details
Investment Securities (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Investment Securities Information [Line Items] | ||||||||
Transfer of AFS securities to HTM securities | $ 1,600,000,000 | $ 1,621,990,000 | $ 0 | |||||
Proceeds from sales of investment securities | $ 248,000 | $ 0 | $ 107,000,000 | $ 51,000,000 | 1,309,000 | 158,708,000 | ||
Debt Instrument, Collateral Amount | 2,400,000,000 | 2,400,000,000 | $ 2,300,000,000 | |||||
Interest receivable | 115,782,000 | 115,782,000 | 80,528,000 | |||||
Debt Securities, Held-to-maturity, Nonaccrual, Interest Income | 0 | $ 0 | ||||||
Debt Securities, Held to Maturity, Past Due | 0 | 0 | 0 | |||||
Held to maturity allowance for credit loss | (61,000) | (61,000) | (55,000) | |||||
Federal Home Loan Bank Stock | 193,000,000 | 193,000,000 | 82,000,000 | |||||
Federal Reserve Bank Stock | 87,000,000 | 87,000,000 | 87,000,000 | |||||
Equity securities with readily determinable fair values, Fair Value | 6,000,000 | 6,000,000 | 5,000,000 | |||||
Equity Securities without Readily Determinable Fair Value, Amount | 19,000,000 | 19,000,000 | 14,000,000 | |||||
Held-to-maturity Securities [Member] | ||||||||
Investment Securities Information [Line Items] | ||||||||
Interest receivable | 16,000,000 | 16,000,000 | 15,000,000 | |||||
Available-for-sale Securities [Member] | ||||||||
Investment Securities Information [Line Items] | ||||||||
Interest receivable | 8,000,000 | 8,000,000 | 9,000,000 | |||||
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ||||||||
Investment Securities Information [Line Items] | ||||||||
Interest receivable | 2,000,000 | 2,000,000 | 975,000 | |||||
Federal Reserve Bank Stock [Member] | ||||||||
Investment Securities Information [Line Items] | ||||||||
Interest receivable | 819,000 | 819,000 | 0 | |||||
US Treasury Securities | ||||||||
Investment Securities Information [Line Items] | ||||||||
Held to maturity allowance for credit loss | 0 | 0 | 0 | |||||
US States and Political Subdivisions Debt Securities [Member] | ||||||||
Investment Securities Information [Line Items] | ||||||||
Held to maturity allowance for credit loss | 0 | 0 | 0 | |||||
Agency mortgage-related securities | ||||||||
Investment Securities Information [Line Items] | ||||||||
Held to maturity allowance for credit loss | $ 0 | $ 0 | $ 0 |
Loans Composition (Details)
Loans Composition (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | $ 27,817,280 | $ 24,224,949 |
PPP | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 1,050 | 66,070 |
Asset-based lending & equipment finance(a) | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 380,830 | 178,027 |
Commercial and industrial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 9,190,045 | 8,208,289 |
Commercial real estate — owner occupied | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 999,786 | 971,326 |
Commercial and business lending | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 10,571,711 | 9,423,711 |
Commercial real estate — investor | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 5,064,289 | 4,384,569 |
Real estate construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 1,835,159 | 1,808,976 |
Commercial real estate lending | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 6,899,449 | 6,193,545 |
Total commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 17,471,159 | 15,617,256 |
Residential mortgage | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 8,314,902 | 7,567,310 |
Auto finance | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 1,117,136 | 143,045 |
Home equity | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 612,608 | 595,615 |
Other consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | 301,475 | 301,723 |
Total consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Loans | $ 10,346,121 | $ 8,607,693 |
Loans, Credit Quality Indicator
Loans, Credit Quality Indicator by Vintage Year (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | $ 50,520 | $ 60,636 |
Financing Receivable, Revolving | 3,144,369 | 3,253,933 |
Financing Receivable, Originated in Current Fiscal Year | 6,797,570 | 7,524,778 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,634,899 | 4,394,206 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,664,501 | 3,377,569 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,331,812 | 1,801,486 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,149,753 | 1,067,713 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,094,376 | 2,805,265 |
Total | 27,817,280 | 24,224,949 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 44,845 | 56,777 |
Financing Receivable, Revolving | 3,117,577 | 3,219,121 |
Financing Receivable, Originated in Current Fiscal Year | 6,722,237 | 7,352,605 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,498,885 | 4,301,809 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,571,591 | 3,232,703 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,193,062 | 1,722,157 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,122,942 | 1,055,380 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,000,909 | 2,734,332 |
Total | 27,227,203 | 23,618,106 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 458 | 140 |
Financing Receivable, Revolving | 10,016 | 7,745 |
Financing Receivable, Originated in Current Fiscal Year | 43,724 | 65,478 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 39,843 | 46,023 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 32,354 | 33,021 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 58,431 | 16,241 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 21 | 41 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 31,426 | 10,946 |
Total | 215,816 | 179,495 |
Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 154 | 2,713 |
Financing Receivable, Revolving | 16,673 | 26,913 |
Financing Receivable, Originated in Current Fiscal Year | 20,425 | 53,194 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 57,309 | 34,992 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 45,412 | 100,240 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 75,626 | 56,519 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 20,032 | 5,952 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 22,378 | 19,095 |
Total | 257,855 | 296,905 |
Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 5,063 | 1,006 |
Financing Receivable, Revolving | 103 | 154 |
Financing Receivable, Originated in Current Fiscal Year | 11,184 | 53,501 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 38,861 | 11,382 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 15,143 | 11,605 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,693 | 6,569 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,758 | 6,340 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 39,662 | 40,891 |
Total | 116,406 | 130,443 |
Total commercial | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 43,243 | 52,388 |
Financing Receivable, Revolving | 2,441,270 | 2,573,974 |
Financing Receivable, Originated in Current Fiscal Year | 4,588,558 | 5,602,382 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,412,296 | 2,438,627 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,904,069 | 2,385,040 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,485,474 | 1,355,608 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 754,429 | 379,567 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 885,063 | 882,057 |
Total | 17,471,159 | 15,617,256 |
Total commercial | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 39,111 | 49,606 |
Financing Receivable, Revolving | 2,415,268 | 2,539,768 |
Financing Receivable, Originated in Current Fiscal Year | 4,519,062 | 5,432,693 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,279,288 | 2,349,685 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,816,220 | 2,245,316 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,351,761 | 1,283,386 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 735,008 | 373,655 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 832,919 | 853,551 |
Total | 16,949,527 | 15,078,053 |
Total commercial | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 9,329 | 7,294 |
Financing Receivable, Originated in Current Fiscal Year | 43,211 | 65,478 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 39,671 | 45,917 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 32,254 | 33,016 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 58,423 | 15,957 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 21 | 41 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 30,703 | 9,840 |
Total | 213,611 | 177,543 |
Total commercial | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 154 | 2,706 |
Financing Receivable, Revolving | 16,673 | 26,913 |
Financing Receivable, Originated in Current Fiscal Year | 20,101 | 52,713 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 57,108 | 34,660 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 45,412 | 99,837 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 74,846 | 56,241 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,401 | 5,871 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 21,285 | 18,291 |
Total | 254,825 | 294,527 |
Total commercial | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 3,979 | 76 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 6,183 | 51,498 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 36,230 | 8,365 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,182 | 6,872 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 444 | 24 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 156 | 374 |
Total | 53,196 | 67,134 |
Total commercial | PPP | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 62 | 47,134 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 960 | 18,936 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 28 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Total | 1,050 | 66,070 |
Total commercial | PPP | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 21 | 44,921 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 960 | 18,610 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 28 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Total | 1,009 | 63,531 |
Total commercial | PPP | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 212 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 281 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Total | 493 | |
Total commercial | PPP | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 40 | 2,000 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Total | 40 | 2,000 |
Total commercial | PPP | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 46 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Total | 46 | |
Total commercial | Asset-based lending & equipment finance(a) | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | |
Financing Receivable, Revolving | 30,946 | |
Financing Receivable, Originated in Current Fiscal Year | 203,701 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 112,162 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 33,123 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 765 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 133 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Total | 380,830 | |
Total commercial | Asset-based lending & equipment finance(a) | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | |
Financing Receivable, Revolving | 29,680 | |
Financing Receivable, Originated in Current Fiscal Year | 202,201 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 112,162 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 16,349 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 765 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 133 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Total | 361,291 | |
Total commercial | Asset-based lending & equipment finance(a) | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 0 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 274 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Total | 274 | |
Total commercial | Asset-based lending & equipment finance(a) | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | |
Financing Receivable, Revolving | 1,266 | |
Financing Receivable, Originated in Current Fiscal Year | 1,500 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 16,500 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Total | 19,266 | |
Total commercial | Commercial and Industrial Sector | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 4,621 | 4,867 |
Financing Receivable, Revolving | 2,304,968 | 2,405,059 |
Financing Receivable, Originated in Current Fiscal Year | 2,306,830 | 2,667,064 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,441,833 | 874,575 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 614,058 | 1,032,647 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 678,473 | 731,439 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 353,821 | 177,671 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 490,062 | 497,860 |
Total | 9,190,045 | 8,386,316 |
Total commercial | Commercial and Industrial Sector | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 488 | 2,084 |
Financing Receivable, Revolving | 2,281,083 | 2,371,605 |
Financing Receivable, Originated in Current Fiscal Year | 2,283,710 | 2,631,753 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,422,332 | 852,758 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 593,095 | 986,300 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 639,386 | 710,491 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 353,799 | 177,568 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 452,229 | 493,876 |
Total | 9,025,634 | 8,224,351 |
Total commercial | Commercial and Industrial Sector | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 9,329 | 7,068 |
Financing Receivable, Originated in Current Fiscal Year | 98 | 5,900 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 14,885 | 1,695 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,675 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 21 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 30,577 | 2,811 |
Total | 59,585 | 17,474 |
Total commercial | Commercial and Industrial Sector | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 154 | 2,706 |
Financing Receivable, Revolving | 14,557 | 26,387 |
Financing Receivable, Originated in Current Fiscal Year | 17,644 | 23,415 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 4,615 | 19,960 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6,105 | 46,296 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 39,087 | 20,924 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2 | 104 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7,240 | 1,172 |
Total | 89,250 | 138,258 |
Total commercial | Commercial and Industrial Sector | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 3,979 | 76 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 5,379 | 5,996 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 161 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,182 | 52 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 24 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 15 | 0 |
Total | 15,576 | 6,233 |
Total commercial | Commercial real estate — owner occupied | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 10,092 |
Financing Receivable, Revolving | 14,473 | 31,621 |
Financing Receivable, Originated in Current Fiscal Year | 179,648 | 267,371 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 251,191 | 187,773 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 176,071 | 197,120 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 175,549 | 110,896 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 89,092 | 56,742 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 113,761 | 119,802 |
Total | 999,786 | 971,326 |
Total commercial | Commercial real estate — owner occupied | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 10,092 |
Financing Receivable, Revolving | 13,623 | 30,869 |
Financing Receivable, Originated in Current Fiscal Year | 179,172 | 261,418 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 243,087 | 178,424 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 165,701 | 187,073 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 163,570 | 110,169 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 88,718 | 54,538 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 109,126 | 117,011 |
Total | 962,997 | 939,503 |
Total commercial | Commercial real estate — owner occupied | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 226 |
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 4,628 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 6,995 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,506 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 245 |
Total | 8,502 | 5,100 |
Total commercial | Commercial real estate — owner occupied | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 850 | 526 |
Financing Receivable, Originated in Current Fiscal Year | 475 | 5,953 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,104 | 4,721 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,375 | 10,047 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 10,473 | 727 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 374 | 2,204 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,635 | 2,546 |
Total | 28,287 | 26,723 |
Total commercial | Commercial and business lending | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 4,621 | 14,958 |
Financing Receivable, Revolving | 2,350,388 | 2,436,680 |
Financing Receivable, Originated in Current Fiscal Year | 2,690,241 | 2,981,569 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,806,146 | 1,081,284 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 823,280 | 1,229,767 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 854,787 | 842,335 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 443,047 | 234,414 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 603,822 | 617,662 |
Total | 10,571,711 | 9,423,711 |
Total commercial | Commercial and business lending | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 488 | 12,176 |
Financing Receivable, Revolving | 2,324,387 | 2,402,474 |
Financing Receivable, Originated in Current Fiscal Year | 2,665,105 | 2,938,092 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,778,541 | 1,049,792 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 775,174 | 1,173,373 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 803,720 | 820,660 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 442,650 | 232,106 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 561,355 | 610,887 |
Total | 10,350,931 | 9,227,385 |
Total commercial | Commercial and business lending | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 9,329 | 7,294 |
Financing Receivable, Originated in Current Fiscal Year | 98 | 6,112 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 14,885 | 6,604 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 11,944 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,506 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 21 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 30,577 | 3,056 |
Total | 68,360 | 23,066 |
Total commercial | Commercial and business lending | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 154 | 2,706 |
Financing Receivable, Revolving | 16,673 | 26,913 |
Financing Receivable, Originated in Current Fiscal Year | 19,660 | 31,368 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 12,719 | 24,681 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 25,980 | 56,343 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 49,560 | 21,651 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 376 | 2,307 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11,875 | 3,718 |
Total | 136,843 | 166,981 |
Total commercial | Commercial and business lending | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 3,979 | 76 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 5,379 | 5,996 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 207 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 10,182 | 52 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 24 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 15 | 0 |
Total | 15,576 | 6,279 |
Total commercial | Commercial real estate — investor | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 38,623 | 37,430 |
Financing Receivable, Revolving | 64,392 | 105,521 |
Financing Receivable, Originated in Current Fiscal Year | 1,330,015 | 1,774,910 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,674,352 | 730,825 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 843,223 | 929,685 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 572,718 | 448,741 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 308,811 | 142,883 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 270,778 | 252,003 |
Total | 5,064,289 | 4,384,569 |
Total commercial | Commercial real estate — investor | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 38,623 | 37,430 |
Financing Receivable, Revolving | 64,392 | 105,521 |
Financing Receivable, Originated in Current Fiscal Year | 1,285,655 | 1,650,936 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,568,948 | 685,423 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 815,494 | 867,606 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 526,134 | 414,079 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 289,786 | 139,320 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 261,243 | 230,452 |
Total | 4,811,653 | 4,093,337 |
Total commercial | Commercial real estate — investor | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 43,113 | 57,163 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 24,786 | 27,384 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,296 | 33,016 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 20,855 | 72 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 126 | 6,781 |
Total | 97,176 | 124,416 |
Total commercial | Commercial real estate — investor | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 442 | 21,309 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 44,388 | 9,860 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,432 | 22,243 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 25,285 | 34,591 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,025 | 3,564 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,409 | 14,573 |
Total | 117,982 | 106,138 |
Total commercial | Commercial real estate — investor | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 805 | 45,502 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 36,230 | 8,158 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 6,820 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 444 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 197 |
Total | 37,479 | 60,677 |
Total commercial | Real Estate Construction | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 26,489 | 31,773 |
Financing Receivable, Originated in Current Fiscal Year | 568,302 | 845,903 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 931,799 | 626,518 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 237,566 | 225,588 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 57,969 | 64,532 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,572 | 2,270 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 10,462 | 12,392 |
Total | 1,835,159 | 1,808,976 |
Total commercial | Real Estate Construction | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 26,489 | 31,773 |
Financing Receivable, Originated in Current Fiscal Year | 568,302 | 843,664 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 931,799 | 614,469 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 225,552 | 204,337 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 21,908 | 48,647 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 2,572 | 2,229 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 10,321 | 12,212 |
Total | 1,786,943 | 1,757,331 |
Total commercial | Real Estate Construction | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 0 | 2,203 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 11,929 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 12,014 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 36,061 | 15,885 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 41 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 2 |
Total | 48,076 | 30,060 |
Total commercial | Real Estate Construction | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 37 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 120 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 21,251 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Total | 21,408 | |
Total commercial | Real Estate Construction | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 141 | 177 |
Total | 141 | 177 |
Total commercial | Commercial Real Estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 38,623 | 37,430 |
Financing Receivable, Revolving | 90,882 | 137,294 |
Financing Receivable, Originated in Current Fiscal Year | 1,898,317 | 2,620,814 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,606,151 | 1,357,343 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,080,789 | 1,155,273 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 630,687 | 513,273 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 311,383 | 145,153 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 281,241 | 264,395 |
Total | 6,899,449 | 6,193,545 |
Total commercial | Commercial Real Estate | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 38,623 | 37,430 |
Financing Receivable, Revolving | 90,882 | 137,294 |
Financing Receivable, Originated in Current Fiscal Year | 1,853,957 | 2,494,600 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,500,747 | 1,299,893 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,041,046 | 1,071,943 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 548,041 | 462,726 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 292,358 | 141,549 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 271,564 | 242,664 |
Total | 6,598,595 | 5,850,668 |
Total commercial | Commercial Real Estate | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 43,113 | 59,366 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 24,786 | 39,313 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 20,310 | 33,016 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 56,916 | 15,957 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 41 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 126 | 6,784 |
Total | 145,251 | 154,476 |
Total commercial | Commercial Real Estate | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 442 | 21,345 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 44,388 | 9,980 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 19,432 | 43,494 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 25,285 | 34,591 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 19,025 | 3,564 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9,409 | 14,573 |
Total | 117,982 | 127,546 |
Total commercial | Commercial Real Estate | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 805 | 45,502 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 36,230 | 8,158 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 6,820 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 444 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 141 | 374 |
Total | 37,620 | 60,855 |
Total consumer | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 7,277 | 8,248 |
Financing Receivable, Revolving | 703,100 | 679,959 |
Financing Receivable, Originated in Current Fiscal Year | 2,209,013 | 1,922,396 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,222,602 | 1,955,579 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,760,432 | 992,528 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 846,338 | 445,878 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 395,323 | 688,145 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,209,313 | 1,923,208 |
Total | 10,346,121 | 8,607,693 |
Total consumer | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 5,734 | 7,171 |
Financing Receivable, Revolving | 702,309 | 679,353 |
Financing Receivable, Originated in Current Fiscal Year | 2,203,175 | 1,919,912 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,219,597 | 1,952,124 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,755,371 | 987,387 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 841,300 | 438,771 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 387,934 | 681,725 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,167,990 | 1,880,781 |
Total | 10,277,677 | 8,540,053 |
Total consumer | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 458 | 140 |
Financing Receivable, Revolving | 687 | 451 |
Financing Receivable, Originated in Current Fiscal Year | 513 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 172 | 106 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 100 | 4 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 9 | 285 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 723 | 1,106 |
Total | 2,204 | 1,952 |
Total consumer | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 6 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 324 | 481 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 201 | 332 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 404 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 781 | 277 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 631 | 81 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,094 | 804 |
Total | 3,030 | 2,379 |
Total consumer | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 1,085 | 931 |
Financing Receivable, Revolving | 103 | 154 |
Financing Receivable, Originated in Current Fiscal Year | 5,001 | 2,003 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,632 | 3,017 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,961 | 4,733 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,249 | 6,545 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,758 | 6,340 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 39,506 | 40,517 |
Total | 63,210 | 63,309 |
Total consumer | Residential mortgage | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 1,181,134 | 1,773,915 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,097,333 | 1,948,272 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,755,585 | 979,071 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 837,030 | 435,233 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 386,972 | 679,547 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,056,849 | 1,751,272 |
Total | 8,314,902 | 7,567,310 |
Total consumer | Residential mortgage | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 1,175,995 | 1,771,447 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,094,652 | 1,945,029 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,750,699 | 974,188 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 832,300 | 428,459 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 379,935 | 673,447 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,022,844 | 1,716,419 |
Total | 8,256,426 | 7,508,989 |
Total consumer | Residential mortgage | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 285 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 146 | 461 |
Total | 146 | 746 |
Total consumer | Residential mortgage | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 324 | 475 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 201 | 332 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 404 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 746 | 265 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 626 | 81 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 948 | 658 |
Total | 2,845 | 2,214 |
Total consumer | Residential mortgage | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 4,815 | 1,993 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,479 | 2,911 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,886 | 4,479 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,984 | 6,224 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 6,411 | 6,019 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 32,910 | 33,734 |
Total | 55,485 | 55,362 |
Total consumer | Auto finance | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 999,189 | 137,952 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 115,240 | 707 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 416 | 2,711 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,583 | 1,216 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 605 | 352 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 103 | 107 |
Total | 1,117,136 | 143,045 |
Total consumer | Auto finance | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 998,531 | 137,952 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 114,979 | 707 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 416 | 2,675 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,564 | 1,200 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 598 | 352 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 103 | 107 |
Total | 1,116,192 | 142,993 |
Total consumer | Auto finance | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | |
Financing Receivable, Revolving | 0 | |
Financing Receivable, Originated in Current Fiscal Year | 509 | |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 132 | |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1 | |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | |
Total | 642 | |
Total consumer | Auto finance | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 149 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 128 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 36 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18 | 15 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Total | 302 | 52 |
Total consumer | Home Equity Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 7,170 | 7,792 |
Financing Receivable, Revolving | 503,016 | 499,104 |
Financing Receivable, Originated in Current Fiscal Year | 22,657 | 1,232 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 4,906 | 1,595 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,951 | 7,856 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,377 | 9,059 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,519 | 7,962 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 66,181 | 68,807 |
Total | 612,608 | 595,615 |
Total consumer | Home Equity Loan [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 5,637 | 6,728 |
Financing Receivable, Revolving | 502,745 | 498,970 |
Financing Receivable, Originated in Current Fiscal Year | 22,620 | 1,216 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 4,873 | 1,401 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,787 | 7,640 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,113 | 8,742 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 7,174 | 7,660 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 58,873 | 61,251 |
Total | 604,186 | 586,880 |
Total consumer | Home Equity Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 456 | 133 |
Financing Receivable, Revolving | 221 | 100 |
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 18 | 102 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 97 | 4 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 575 | 638 |
Total | 912 | 844 |
Total consumer | Home Equity Loan [Member] | Potential Problem [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 0 | 6 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Originated in Current Fiscal Year | 0 | 6 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 35 | 13 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 5 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 146 | 146 |
Total | 185 | 165 |
Total consumer | Home Equity Loan [Member] | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 1,077 | 925 |
Financing Receivable, Revolving | 50 | 35 |
Financing Receivable, Originated in Current Fiscal Year | 36 | 9 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 15 | 92 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 67 | 211 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 229 | 305 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 340 | 302 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,587 | 6,772 |
Total | 7,325 | 7,726 |
Total consumer | Other consumer | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 106 | 456 |
Financing Receivable, Revolving | 200,084 | 180,783 |
Financing Receivable, Originated in Current Fiscal Year | 6,033 | 9,297 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,124 | 5,005 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,480 | 2,890 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,349 | 371 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 227 | 284 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 86,179 | 103,093 |
Total | 301,475 | 301,723 |
Total consumer | Other consumer | Pass [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 97 | 443 |
Financing Receivable, Revolving | 199,564 | 180,312 |
Financing Receivable, Originated in Current Fiscal Year | 6,028 | 9,297 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 5,093 | 4,987 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,469 | 2,884 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,323 | 371 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 227 | 265 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 86,169 | 103,075 |
Total | 300,873 | 301,191 |
Total consumer | Other consumer | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 1 | 7 |
Financing Receivable, Revolving | 466 | 351 |
Financing Receivable, Originated in Current Fiscal Year | 5 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 21 | 4 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 7 |
Total | 504 | 363 |
Total consumer | Other consumer | Nonaccrual Loan [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, Revolving, Converted To Term Loan | 8 | 6 |
Financing Receivable, Revolving | 53 | 120 |
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 10 | 14 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8 | 7 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 18 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 19 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 9 | 11 |
Total | $ 98 | $ 170 |
Loans Past Due Status (Details)
Loans Past Due Status (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | |
Summarized details of Loans | |||
Current | $ 27,679,004 | $ 27,679,004 | $ 24,077,931 |
Nonaccrual(a)(b) | 116,406 | 116,406 | 130,443 |
Loans and Leases Receivable, Net of Deferred Income, Total | 27,817,280 | 27,817,280 | 24,224,949 |
Nonaccrual Loans, Current Portion | $ 72,000 | $ 72,000 | $ 84,000 |
Percent of current nonaccrual loans | 62% | 62% | 65% |
Financing Receivable, Nonaccrual, Interest Income | $ 0 | $ 0 | $ 0 |
Financing Receivable, Nonaccrual, No Allowance | 21,000 | 21,000 | 9,000 |
30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 18,032 | 18,032 | 12,754 |
60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 2,421 | 2,421 | 2,558 |
90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 1,417 | 1,417 | 1,263 |
PPP | |||
Summarized details of Loans | |||
Current | 798 | 798 | 65,941 |
Nonaccrual(a)(b) | 0 | 0 | 46 |
Loans and Leases Receivable, Net of Deferred Income, Total | 1,050 | 1,050 | 66,070 |
PPP | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 231 | 231 | 40 |
PPP | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 21 | 21 | 43 |
PPP | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Asset-based lending & equipment finance(a) | |||
Summarized details of Loans | |||
Current | 380,830 | 380,830 | 178,027 |
Nonaccrual(a)(b) | 0 | 0 | 0 |
Loans and Leases Receivable, Net of Deferred Income, Total | 380,830 | 380,830 | 178,027 |
Asset-based lending & equipment finance(a) | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Asset-based lending & equipment finance(a) | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Asset-based lending & equipment finance(a) | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Commercial and Industrial Sector | |||
Summarized details of Loans | |||
Current | 9,172,739 | 9,172,739 | 8,201,272 |
Nonaccrual(a)(b) | 15,576 | 15,576 | 6,233 |
Loans and Leases Receivable, Net of Deferred Income, Total | 9,190,045 | 9,190,045 | 8,208,289 |
Commercial and Industrial Sector | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 1,505 | 1,505 | 579 |
Commercial and Industrial Sector | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 104 | 104 | 54 |
Commercial and Industrial Sector | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 121 | 121 | 151 |
Commercial real estate — owner occupied | |||
Summarized details of Loans | |||
Current | 999,786 | 999,786 | 971,163 |
Nonaccrual(a)(b) | 0 | 0 | 0 |
Loans and Leases Receivable, Net of Deferred Income, Total | 999,786 | 999,786 | 971,326 |
Commercial real estate — owner occupied | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 163 |
Commercial real estate — owner occupied | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Commercial real estate — owner occupied | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Commercial and business lending | |||
Summarized details of Loans | |||
Current | 10,554,153 | 10,554,153 | 9,416,403 |
Nonaccrual(a)(b) | 15,576 | 15,576 | 6,279 |
Loans and Leases Receivable, Net of Deferred Income, Total | 10,571,711 | 10,571,711 | 9,423,711 |
Commercial and business lending | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 1,736 | 1,736 | 781 |
Commercial and business lending | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 124 | 124 | 97 |
Commercial and business lending | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 121 | 121 | 151 |
Commercial real estate — investor | |||
Summarized details of Loans | |||
Current | 5,026,810 | 5,026,810 | 4,323,276 |
Nonaccrual(a)(b) | 37,479 | 37,479 | 60,677 |
Loans and Leases Receivable, Net of Deferred Income, Total | 5,064,289 | 5,064,289 | 4,384,569 |
Commercial real estate — investor | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 142 |
Commercial real estate — investor | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 474 |
Commercial real estate — investor | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Real estate construction | |||
Summarized details of Loans | |||
Current | 1,834,975 | 1,834,975 | 1,807,178 |
Nonaccrual(a)(b) | 141 | 141 | 177 |
Loans and Leases Receivable, Net of Deferred Income, Total | 1,835,159 | 1,835,159 | 1,808,976 |
Real estate construction | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 43 | 43 | 1,618 |
Real estate construction | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 2 |
Real estate construction | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Commercial real estate lending | |||
Summarized details of Loans | |||
Current | 6,861,786 | 6,861,786 | 6,130,454 |
Nonaccrual(a)(b) | 37,620 | 37,620 | 60,855 |
Loans and Leases Receivable, Net of Deferred Income, Total | 6,899,449 | 6,899,449 | 6,193,545 |
Commercial real estate lending | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 43 | 43 | 1,759 |
Commercial real estate lending | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 477 |
Commercial real estate lending | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Total commercial | |||
Summarized details of Loans | |||
Current | 17,415,939 | 17,415,939 | 15,546,857 |
Nonaccrual(a)(b) | 53,196 | 53,196 | 67,134 |
Loans and Leases Receivable, Net of Deferred Income, Total | 17,471,159 | 17,471,159 | 15,617,256 |
Total commercial | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 1,779 | 1,779 | 2,541 |
Total commercial | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 124 | 124 | 573 |
Total commercial | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 121 | 121 | 151 |
Residential mortgage | |||
Summarized details of Loans | |||
Current | 8,252,714 | 8,252,714 | 7,505,654 |
Nonaccrual(a)(b) | 55,485 | 55,485 | 55,362 |
Loans and Leases Receivable, Net of Deferred Income, Total | 8,314,902 | 8,314,902 | 7,567,310 |
Residential mortgage | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 6,371 | 6,371 | 5,500 |
Residential mortgage | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 146 | 146 | 669 |
Residential mortgage | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 186 | 186 | 126 |
Auto finance | |||
Summarized details of Loans | |||
Current | 1,110,628 | 1,110,628 | 142,982 |
Nonaccrual(a)(b) | 302 | 302 | 52 |
Loans and Leases Receivable, Net of Deferred Income, Total | 1,117,136 | 1,117,136 | 143,045 |
Auto finance | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 5,564 | 5,564 | 11 |
Auto finance | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 642 | 642 | 0 |
Auto finance | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Home equity | |||
Summarized details of Loans | |||
Current | 601,049 | 601,049 | 584,177 |
Nonaccrual(a)(b) | 7,325 | 7,325 | 7,726 |
Loans and Leases Receivable, Net of Deferred Income, Total | 612,608 | 612,608 | 595,615 |
Home equity | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 3,322 | 3,322 | 2,867 |
Home equity | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 912 | 912 | 844 |
Home equity | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 0 | 0 | 0 |
Other consumer | |||
Summarized details of Loans | |||
Current | 298,675 | 298,675 | 298,261 |
Nonaccrual(a)(b) | 98 | 98 | 170 |
Loans and Leases Receivable, Net of Deferred Income, Total | 301,475 | 301,475 | 301,723 |
Other consumer | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 995 | 995 | 1,835 |
Other consumer | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 596 | 596 | 472 |
Other consumer | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 1,111 | 1,111 | 986 |
Total consumer | |||
Summarized details of Loans | |||
Current | 10,263,065 | 10,263,065 | 8,531,074 |
Nonaccrual(a)(b) | 63,210 | 63,210 | 63,309 |
Loans and Leases Receivable, Net of Deferred Income, Total | 10,346,121 | 10,346,121 | 8,607,693 |
Total consumer | 30-59 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 16,252 | 16,252 | 10,213 |
Total consumer | 60-89 Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | 2,296 | 2,296 | 1,985 |
Total consumer | 90+ Days Past Due | |||
Summarized details of Loans | |||
Total Past Due | $ 1,297 | $ 1,297 | $ 1,111 |
Loans, Troubled Debt Restructur
Loans, Troubled Debt Restructurings Performing and Nonaccrual (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Impaired [Line Items] | ||
Performing Restructured Loans | $ 35,132 | $ 42,530 |
Nonaccrual Restructured Loans(a) | 21,650 | 17,426 |
Commercial and industrial | ||
Financing Receivable, Impaired [Line Items] | ||
Performing Restructured Loans | 14,829 | 8,687 |
Nonaccrual Restructured Loans(a) | 0 | 0 |
Commercial real estate — owner occupied | ||
Financing Receivable, Impaired [Line Items] | ||
Performing Restructured Loans | 369 | 967 |
Nonaccrual Restructured Loans(a) | 0 | 0 |
Commercial real estate — investor | ||
Financing Receivable, Impaired [Line Items] | ||
Performing Restructured Loans | 733 | 12,866 |
Nonaccrual Restructured Loans(a) | 3,268 | 3,093 |
Real estate construction | ||
Financing Receivable, Impaired [Line Items] | ||
Performing Restructured Loans | 165 | 242 |
Nonaccrual Restructured Loans(a) | 42 | 45 |
Residential mortgage | ||
Financing Receivable, Impaired [Line Items] | ||
Performing Restructured Loans | 16,169 | 16,316 |
Nonaccrual Restructured Loans(a) | 17,372 | 13,483 |
Home equity | ||
Financing Receivable, Impaired [Line Items] | ||
Performing Restructured Loans | 2,103 | 2,648 |
Nonaccrual Restructured Loans(a) | 967 | 806 |
Other consumer | ||
Financing Receivable, Impaired [Line Items] | ||
Performing Restructured Loans | 764 | 803 |
Nonaccrual Restructured Loans(a) | $ 0 | $ 0 |
Loans, Loans Modified in a Trou
Loans, Loans Modified in a Troubled Debt Restructuring (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 USD ($) loan | Sep. 30, 2021 USD ($) loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | loan | 59 | 70 |
Recorded Investment(a) | $ 10,844 | $ 13,670 |
Unpaid Principal Balance(b) | $ 11,083 | $ 13,744 |
Commercial and industrial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | loan | 2 | 4 |
Recorded Investment(a) | $ 265 | $ 638 |
Unpaid Principal Balance(b) | $ 265 | $ 638 |
Commercial real estate — investor | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | loan | 1 | 4 |
Recorded Investment(a) | $ 547 | $ 1,682 |
Unpaid Principal Balance(b) | $ 573 | $ 1,682 |
Residential mortgage | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | loan | 44 | 55 |
Recorded Investment(a) | $ 9,641 | $ 10,434 |
Unpaid Principal Balance(b) | $ 9,833 | $ 10,460 |
Home equity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | loan | 12 | 7 |
Recorded Investment(a) | $ 390 | $ 916 |
Unpaid Principal Balance(b) | $ 412 | $ 963 |
Loans, Troubled Debt Restruct_2
Loans, Troubled Debt Restructurings Subsequent Default (Details) - Residential mortgage $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 USD ($) loan | Sep. 30, 2021 USD ($) loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | loan | 4 | 2 |
Recorded Investment | $ | $ 1,178 | $ 200 |
Loans, Changes in the Allowance
Loans, Changes in the Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | $ 39,776 | $ 47,776 | $ 47,776 | |||
Provision for credit losses | 0 | (8,000) | ||||
Balance at end of period | $ 39,776 | 39,776 | 39,776 | |||
Allowance for credit losses on loans | ||||||
Provision for credit losses | 16,998 | $ (24,010) | 13,006 | (82,018) | ||
Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 292,904 | 292,904 | 280,015 | $ 383,702 | ||
Charge offs | (7,165) | (40,652) | ||||
Recoveries | 7,054 | 16,965 | ||||
Net Charge offs | (111) | (23,687) | ||||
Provision for credit losses | 13,000 | (80,000) | ||||
Balance at end of period | 292,904 | 292,904 | 280,015 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 7,165 | 40,652 | ||||
Recoveries | 7,054 | 16,965 | ||||
Net Charge offs | (111) | (23,687) | ||||
Allowance for Loan Losses [Member] | PPP | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 1 | 1 | 51 | 531 | ||
Charge offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Net Charge offs | 0 | 0 | ||||
Provision for credit losses | (50) | (480) | ||||
Balance at end of period | 1 | 1 | 51 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Net Charge offs | 0 | 0 | ||||
Allowance for Loan Losses [Member] | Asset-based lending & equipment finance(a) | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 5,588 | 5,588 | 4,182 | 2,077 | ||
Charge offs | 0 | 0 | ||||
Recoveries | 0 | 412 | ||||
Net Charge offs | 0 | 412 | ||||
Provision for credit losses | 1,406 | 1,693 | ||||
Balance at end of period | 5,588 | 5,588 | 4,182 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 0 | 0 | ||||
Recoveries | 0 | 412 | ||||
Net Charge offs | 0 | 412 | ||||
Allowance for Loan Losses [Member] | Commercial and industrial | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 102,243 | 102,243 | 85,624 | 140,716 | ||
Charge offs | (3,644) | (21,564) | ||||
Recoveries | 4,157 | 8,152 | ||||
Net Charge offs | 512 | (13,412) | ||||
Provision for credit losses | 16,107 | (41,680) | ||||
Balance at end of period | 102,243 | 102,243 | 85,624 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 3,644 | 21,564 | ||||
Recoveries | 4,157 | 8,152 | ||||
Net Charge offs | 512 | (13,412) | ||||
Allowance for Loan Losses [Member] | Commercial real estate — owner occupied | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 8,631 | 8,631 | 11,473 | 11,274 | ||
Charge offs | 0 | 0 | ||||
Recoveries | 10 | 120 | ||||
Net Charge offs | 10 | 120 | ||||
Provision for credit losses | (2,852) | 80 | ||||
Balance at end of period | 8,631 | 8,631 | 11,473 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 0 | 0 | ||||
Recoveries | 10 | 120 | ||||
Net Charge offs | 10 | 120 | ||||
Allowance for Loan Losses [Member] | Commercial and business lending | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 116,464 | 116,464 | 101,330 | 154,598 | ||
Charge offs | (3,644) | (21,564) | ||||
Recoveries | 4,167 | 8,684 | ||||
Net Charge offs | 523 | (12,880) | ||||
Provision for credit losses | 14,611 | (40,388) | ||||
Balance at end of period | 116,464 | 116,464 | 101,330 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 3,644 | 21,564 | ||||
Recoveries | 4,167 | 8,684 | ||||
Net Charge offs | 523 | (12,880) | ||||
Allowance for Loan Losses [Member] | Commercial real estate — investor | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 60,771 | 60,771 | 72,803 | 93,435 | ||
Charge offs | 0 | (14,346) | ||||
Recoveries | 0 | 3,162 | ||||
Net Charge offs | 0 | (11,184) | ||||
Provision for credit losses | (12,032) | (9,448) | ||||
Balance at end of period | 60,771 | 60,771 | 72,803 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 0 | 14,346 | ||||
Recoveries | 0 | 3,162 | ||||
Net Charge offs | 0 | (11,184) | ||||
Allowance for Loan Losses [Member] | Real estate construction | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 36,419 | 36,419 | 37,643 | 59,193 | ||
Charge offs | (48) | (5) | ||||
Recoveries | 90 | 126 | ||||
Net Charge offs | 43 | 121 | ||||
Provision for credit losses | (1,266) | (21,672) | ||||
Balance at end of period | 36,419 | 36,419 | 37,643 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 48 | 5 | ||||
Recoveries | 90 | 126 | ||||
Net Charge offs | 43 | 121 | ||||
Allowance for Loan Losses [Member] | Commercial real estate lending | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 97,190 | 97,190 | 110,446 | 152,629 | ||
Charge offs | (48) | (14,351) | ||||
Recoveries | 90 | 3,288 | ||||
Net Charge offs | 43 | (11,063) | ||||
Provision for credit losses | (13,299) | (31,120) | ||||
Balance at end of period | 97,190 | 97,190 | 110,446 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 48 | 14,351 | ||||
Recoveries | 90 | 3,288 | ||||
Net Charge offs | 43 | (11,063) | ||||
Allowance for Loan Losses [Member] | Total commercial | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 213,654 | 213,654 | 211,776 | 307,226 | ||
Charge offs | (3,692) | (35,915) | ||||
Recoveries | 4,258 | 11,972 | ||||
Net Charge offs | 565 | (23,943) | ||||
Provision for credit losses | 1,313 | (71,508) | ||||
Balance at end of period | 213,654 | 213,654 | 211,776 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 3,692 | 35,915 | ||||
Recoveries | 4,258 | 11,972 | ||||
Net Charge offs | 565 | (23,943) | ||||
Allowance for Loan Losses [Member] | Residential mortgage | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 38,907 | 38,907 | 40,787 | 42,996 | ||
Charge offs | (287) | (880) | ||||
Recoveries | 752 | 841 | ||||
Net Charge offs | 465 | (38) | ||||
Provision for credit losses | (2,345) | (2,170) | ||||
Balance at end of period | 38,907 | 38,907 | 40,787 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 287 | 880 | ||||
Recoveries | 752 | 841 | ||||
Net Charge offs | 465 | (38) | ||||
Allowance for Loan Losses [Member] | Auto finance | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 15,741 | 15,741 | 1,999 | 174 | ||
Charge offs | (228) | (22) | ||||
Recoveries | 53 | 31 | ||||
Net Charge offs | (175) | 9 | ||||
Provision for credit losses | 13,917 | 1,816 | ||||
Balance at end of period | 15,741 | 15,741 | 1,999 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 228 | 22 | ||||
Recoveries | 53 | 31 | ||||
Net Charge offs | (175) | 9 | ||||
Allowance for Loan Losses [Member] | Home equity | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 14,086 | 14,086 | 14,011 | 18,849 | ||
Charge offs | (524) | (668) | ||||
Recoveries | 1,199 | 2,854 | ||||
Net Charge offs | 675 | 2,186 | ||||
Provision for credit losses | (601) | (7,024) | ||||
Balance at end of period | 14,086 | 14,086 | 14,011 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 524 | 668 | ||||
Recoveries | 1,199 | 2,854 | ||||
Net Charge offs | 675 | 2,186 | ||||
Allowance for Loan Losses [Member] | Other consumer | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 11,441 | 14,456 | ||||
Charge offs | (3,168) | |||||
Recoveries | 1,267 | |||||
Net Charge offs | (1,901) | |||||
Provision for credit losses | (1,113) | |||||
Balance at end of period | 11,441 | |||||
Allowance for credit losses on loans | ||||||
Charge offs | 3,168 | |||||
Recoveries | 1,267 | |||||
Net Charge offs | (1,901) | |||||
Allowance for Loan Losses [Member] | Other consumer | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 10,516 | 10,516 | 11,441 | |||
Charge offs | (2,434) | |||||
Recoveries | 792 | |||||
Net Charge offs | (1,642) | |||||
Provision for credit losses | 716 | |||||
Balance at end of period | 10,516 | 10,516 | 11,441 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 2,434 | |||||
Recoveries | 792 | |||||
Net Charge offs | (1,642) | |||||
Allowance for Loan Losses [Member] | Total consumer | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Financing Receivable, Allowance for Credit Loss | 79,250 | 79,250 | 68,239 | $ 76,475 | ||
Charge offs | (3,472) | (4,738) | ||||
Recoveries | 2,796 | 4,993 | ||||
Net Charge offs | (676) | 256 | ||||
Provision for credit losses | 11,687 | (8,492) | ||||
Balance at end of period | 79,250 | 79,250 | 68,239 | |||
Allowance for credit losses on loans | ||||||
Charge offs | 3,472 | 4,738 | ||||
Recoveries | 2,796 | 4,993 | ||||
Net Charge offs | (676) | 256 | ||||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 39,776 | 47,776 | 47,776 | |||
Provision for credit losses | 0 | (8,000) | ||||
Balance at end of period | 39,776 | 39,776 | 39,776 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Asset-based lending & equipment finance(a) | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 857 | 901 | 901 | |||
Provision for credit losses | 184 | (43) | ||||
Balance at end of period | 1,042 | 1,042 | 857 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Commercial and industrial | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 17,601 | 21,411 | 21,411 | |||
Provision for credit losses | 4 | (3,809) | ||||
Balance at end of period | 17,606 | 17,606 | 17,601 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Commercial real estate — owner occupied | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 208 | 266 | 266 | |||
Provision for credit losses | (119) | (58) | ||||
Balance at end of period | 89 | 89 | 208 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Commercial and business lending | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 18,667 | 22,577 | 22,577 | |||
Provision for credit losses | 70 | (3,911) | ||||
Balance at end of period | 18,737 | 18,737 | 18,667 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Commercial real estate — investor | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 936 | 636 | 636 | |||
Provision for credit losses | (303) | 300 | ||||
Balance at end of period | 633 | 633 | 936 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Real estate construction | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 15,586 | 18,887 | 18,887 | |||
Provision for credit losses | 552 | (3,301) | ||||
Balance at end of period | 16,138 | 16,138 | 15,586 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Commercial real estate lending | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 16,522 | 19,523 | 19,523 | |||
Provision for credit losses | 249 | (3,001) | ||||
Balance at end of period | 16,771 | 16,771 | 16,522 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Total commercial | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 35,189 | 42,101 | 42,101 | |||
Provision for credit losses | 319 | (6,912) | ||||
Balance at end of period | 35,508 | 35,508 | 35,189 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Home equity | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 2,592 | 3,118 | 3,118 | |||
Provision for credit losses | 0 | (526) | ||||
Balance at end of period | 2,592 | 2,592 | 2,592 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Other consumer | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 1,995 | 2,557 | 2,557 | |||
Provision for credit losses | (319) | (563) | ||||
Balance at end of period | 1,675 | 1,675 | 1,995 | |||
SEC Schedule, 12-09, Reserve, Off-balance Sheet Activity [Member] | Total consumer | ||||||
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||||||
Balance at beginning of period | 4,587 | 5,675 | 5,675 | |||
Provision for credit losses | (319) | (1,088) | ||||
Balance at end of period | 4,268 | 4,268 | 4,587 | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | (7,165) | (40,652) | ||||
Recoveries | 7,054 | 16,965 | ||||
Net Charge offs | (111) | (23,687) | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 319,791 | 431,478 | 431,478 | |||
Charge offs | 7,165 | 40,652 | ||||
Recoveries | 7,054 | 16,965 | ||||
Net Charge offs | (111) | (23,687) | ||||
Provision for credit losses | 13,000 | (88,000) | ||||
Balance at end of period | $ 332,680 | $ 332,680 | $ 319,791 | |||
Percent of Loans | 1.20% | 1.20% | 1.32% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | PPP | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ 0 | $ 0 | ||||
Recoveries | 0 | 0 | ||||
Net Charge offs | 0 | 0 | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 51 | 531 | 531 | |||
Charge offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Net Charge offs | 0 | 0 | ||||
Provision for credit losses | (50) | (480) | ||||
Balance at end of period | $ 1 | $ 1 | $ 51 | |||
Percent of Loans | 0.10% | 0.10% | 0.08% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Asset-based lending & equipment finance(a) | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ 0 | $ 0 | ||||
Recoveries | 0 | 412 | ||||
Net Charge offs | 0 | 412 | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 5,040 | 2,978 | 2,978 | |||
Charge offs | 0 | 0 | ||||
Recoveries | 0 | 412 | ||||
Net Charge offs | 0 | 412 | ||||
Provision for credit losses | 1,590 | 1,649 | ||||
Balance at end of period | $ 6,630 | $ 6,630 | $ 5,040 | |||
Percent of Loans | 1.74% | 1.74% | 2.83% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Commercial and industrial | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (3,644) | $ (21,564) | ||||
Recoveries | 4,157 | 8,152 | ||||
Net Charge offs | 512 | (13,412) | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 103,225 | 162,126 | 162,126 | |||
Charge offs | 3,644 | 21,564 | ||||
Recoveries | 4,157 | 8,152 | ||||
Net Charge offs | 512 | (13,412) | ||||
Provision for credit losses | 16,112 | (45,490) | ||||
Balance at end of period | $ 119,849 | $ 119,849 | $ 103,225 | |||
Percent of Loans | 1.30% | 1.30% | 1.26% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Commercial real estate — owner occupied | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ 0 | $ 0 | ||||
Recoveries | 10 | 120 | ||||
Net Charge offs | 10 | 120 | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 11,681 | 11,539 | 11,539 | |||
Charge offs | 0 | 0 | ||||
Recoveries | 10 | 120 | ||||
Net Charge offs | 10 | 120 | ||||
Provision for credit losses | (2,971) | 22 | ||||
Balance at end of period | $ 8,721 | $ 8,721 | $ 11,681 | |||
Percent of Loans | 0.87% | 0.87% | 1.20% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Commercial and business lending | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (3,644) | $ (21,564) | ||||
Recoveries | 4,167 | 8,684 | ||||
Net Charge offs | 523 | (12,880) | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 119,997 | 177,175 | 177,175 | |||
Charge offs | 3,644 | 21,564 | ||||
Recoveries | 4,167 | 8,684 | ||||
Net Charge offs | 523 | (12,880) | ||||
Provision for credit losses | 14,681 | (44,299) | ||||
Balance at end of period | $ 135,200 | $ 135,200 | $ 119,997 | |||
Percent of Loans | 1.28% | 1.28% | 1.27% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Commercial real estate — investor | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ 0 | $ (14,346) | ||||
Recoveries | 0 | 3,162 | ||||
Net Charge offs | 0 | (11,184) | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 73,739 | 94,071 | 94,071 | |||
Charge offs | 0 | 14,346 | ||||
Recoveries | 0 | 3,162 | ||||
Net Charge offs | 0 | (11,184) | ||||
Provision for credit losses | (12,335) | (9,148) | ||||
Balance at end of period | $ 61,404 | $ 61,404 | $ 73,739 | |||
Percent of Loans | 1.21% | 1.21% | 1.68% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Real estate construction | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (48) | $ (5) | ||||
Recoveries | 90 | 126 | ||||
Net Charge offs | 43 | 121 | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 53,229 | 78,080 | 78,080 | |||
Charge offs | 48 | 5 | ||||
Recoveries | 90 | 126 | ||||
Net Charge offs | 43 | 121 | ||||
Provision for credit losses | (714) | (24,972) | ||||
Balance at end of period | $ 52,557 | $ 52,557 | $ 53,229 | |||
Percent of Loans | 2.86% | 2.86% | 2.94% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Commercial real estate lending | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (48) | $ (14,351) | ||||
Recoveries | 90 | 3,288 | ||||
Net Charge offs | 43 | (11,063) | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 126,968 | 172,152 | 172,152 | |||
Charge offs | 48 | 14,351 | ||||
Recoveries | 90 | 3,288 | ||||
Net Charge offs | 43 | (11,063) | ||||
Provision for credit losses | (13,049) | (34,121) | ||||
Balance at end of period | $ 113,961 | $ 113,961 | $ 126,968 | |||
Percent of Loans | 1.65% | 1.65% | 2.05% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Total commercial | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (3,692) | $ (35,915) | ||||
Recoveries | 4,258 | 11,972 | ||||
Net Charge offs | 565 | (23,943) | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 246,965 | 349,327 | 349,327 | |||
Charge offs | 3,692 | 35,915 | ||||
Recoveries | 4,258 | 11,972 | ||||
Net Charge offs | 565 | (23,943) | ||||
Provision for credit losses | 1,632 | (78,419) | ||||
Balance at end of period | $ 249,162 | $ 249,162 | $ 246,965 | |||
Percent of Loans | 1.43% | 1.43% | 1.58% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Residential mortgage | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (287) | $ (880) | ||||
Recoveries | 752 | 841 | ||||
Net Charge offs | 465 | (38) | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 40,787 | 42,996 | 42,996 | |||
Charge offs | 287 | 880 | ||||
Recoveries | 752 | 841 | ||||
Net Charge offs | 465 | (38) | ||||
Provision for credit losses | (2,345) | (2,170) | ||||
Balance at end of period | $ 38,907 | $ 38,907 | $ 40,787 | |||
Percent of Loans | 0.47% | 0.47% | 0.54% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Auto finance | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (228) | $ (22) | ||||
Recoveries | 53 | 31 | ||||
Net Charge offs | (175) | 9 | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 1,999 | 174 | 174 | |||
Charge offs | 228 | 22 | ||||
Recoveries | 53 | 31 | ||||
Net Charge offs | (175) | 9 | ||||
Provision for credit losses | 13,917 | 1,816 | ||||
Balance at end of period | $ 15,741 | $ 15,741 | $ 1,999 | |||
Percent of Loans | 1.41% | 1.41% | 1.40% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Home equity | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (524) | $ (668) | ||||
Recoveries | 1,199 | 2,854 | ||||
Net Charge offs | 675 | 2,186 | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 16,603 | 21,967 | 21,967 | |||
Charge offs | 524 | 668 | ||||
Recoveries | 1,199 | 2,854 | ||||
Net Charge offs | 675 | 2,186 | ||||
Provision for credit losses | (600) | (7,550) | ||||
Balance at end of period | $ 16,678 | $ 16,678 | $ 16,603 | |||
Percent of Loans | 2.72% | 2.72% | 2.79% | |||
Allowance for Loans Losses and Unfunded Commitments [Member] | Other consumer | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (3,168) | |||||
Recoveries | 1,267 | |||||
Net Charge offs | (1,901) | |||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | $ 13,436 | 17,013 | 17,013 | |||
Charge offs | 3,168 | |||||
Recoveries | 1,267 | |||||
Net Charge offs | (1,901) | |||||
Provision for credit losses | (1,676) | |||||
Balance at end of period | $ 13,436 | |||||
Percent of Loans | 4.45% | |||||
Allowance for Loans Losses and Unfunded Commitments [Member] | Other consumer | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | (2,434) | |||||
Recoveries | 792 | |||||
Net Charge offs | (1,642) | |||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 13,436 | |||||
Charge offs | 2,434 | |||||
Recoveries | 792 | |||||
Net Charge offs | (1,642) | |||||
Provision for credit losses | 397 | |||||
Balance at end of period | $ 12,191 | $ 12,191 | $ 13,436 | |||
Percent of Loans | 4.04% | 4.04% | ||||
Allowance for Loans Losses and Unfunded Commitments [Member] | Total consumer | ||||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||||
Charge offs | $ (3,472) | (4,738) | ||||
Recoveries | 2,796 | 4,993 | ||||
Net Charge offs | (676) | 256 | ||||
Allowance for credit losses on loans | ||||||
Balance at beginning of period | 72,825 | $ 82,150 | 82,150 | |||
Charge offs | 3,472 | 4,738 | ||||
Recoveries | 2,796 | 4,993 | ||||
Net Charge offs | (676) | 256 | ||||
Provision for credit losses | 11,368 | (9,581) | ||||
Balance at end of period | $ 83,517 | $ 83,517 | $ 72,825 | |||
Percent of Loans | 0.81% | 0.81% | 0.85% |
Loans Narrative (Details)
Loans Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Loans Information [Line Items] | |||||
Interest receivable | $ 115,782 | $ 115,782 | $ 80,528 | ||
Financing Receivable, Nonaccrual, Interest Income | 189 | $ 91 | 328 | $ 329 | |
Nonaccrual Loans, Current Portion | $ 72,000 | $ 72,000 | $ 84,000 | ||
Percent of current nonaccrual loans | 62% | 62% | 65% | ||
Financing Receivable, Nonaccrual, Interest Income | $ 0 | $ 0 | $ 0 | ||
Financing Receivable, Nonaccrual, No Allowance | 21,000 | 21,000 | 9,000 | ||
Recorded Investment(a) | 10,844 | $ 13,670 | |||
Restructured Loans Subsequently Accruing | 1,000 | 1,000 | |||
Ytd Restructured Loans Still On Nonaccrual | 10,000 | 10,000 | |||
Possible Liquidity Issues [Member] | |||||
Loans Information [Line Items] | |||||
Financing Receivable, Troubled Debt Restructuring | 0 | 0 | 7,000 | ||
Loans and Finance Receivables [Member] | |||||
Loans Information [Line Items] | |||||
Interest receivable | $ 88,000 | $ 88,000 | $ 55,000 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets, Summary of Core Deposit and Other Intangibles (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Summary of core deposit intangibles and other intangibles | ||||||
Other intangible amortization | $ 2,203 | $ 2,203 | $ 6,608 | $ 6,642 | ||
Core Deposit Intangibles | ||||||
Summary of core deposit intangibles and other intangibles | ||||||
Gross carrying amount at the beginning of period | $ 88,109 | $ 88,109 | ||||
Accumulated amortization | (36,624) | (36,624) | (30,016) | |||
Total estimated amortization expense | 51,485 | 51,485 | 58,093 | |||
Other intangible amortization | 6,608 | 8,811 | ||||
Other Intangibles | ||||||
Summary of core deposit intangibles and other intangibles | ||||||
Gross carrying amount at the beginning of period | 0 | $ 2,000 | ||||
Accumulated amortization | 0 | 0 | (683) | |||
Total estimated amortization expense | $ 0 | 0 | 0 | |||
Other intangible amortization | 0 | 33 | ||||
Other Intangibles | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||||
Summary of core deposit intangibles and other intangibles | ||||||
Reductions due to sale | $ 0 | $ (1,317) |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets, Mortgage Servicing Rights Roll-Forward (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Jan. 01, 2022 | |
Summary Of Changes In Balance Of Mortgage Servicing Rights Asset And Mortgage Servicing Rights Valuation Allowance [Abstract] | ||||
Servicing Asset at Amortized Cost | $ 54,862 | |||
Cumulative effect of accounting methodology change | $ 2,296 | |||
Servicing Asset at Fair Value, Amount | $ 78,352 | 57,158 | ||
Additions | 6,316 | $ 11,761 | ||
Paydowns | (7,470) | |||
Change in fair value model assumptions | 5,715 | |||
Changes in fair value of asset | 16,633 | |||
Mortgage servicing rights | ||||
Mortgage servicing rights at beginning of period | 54,862 | 59,967 | 59,967 | |
Additions | 16,151 | |||
Amortization | (19,436) | |||
Mortgage servicing rights at end of period | 54,862 | |||
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward] | ||||
Valuation allowance at beginning of period | (1,820) | $ (18,006) | (18,006) | |
Recoveries, net | 16,186 | |||
Valuation allowance at end of period | (1,820) | |||
Servicing Asset At Amortized Value Net | 56,682 | |||
Fair value of mortgage servicing rights | 57,259 | |||
Portfolio of residential mortgage loans serviced for others (“servicing portfolio”) | $ 6,800,404 | $ 6,994,834 | ||
Mortgage servicing rights, net to servicing portfolio | 1.15% | 0.78% | ||
Mortgage servicing rights expense(a) | $ 3,250 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets, Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Core Deposit Intangibles | ||
Estimated future amortization expense | ||
Three months ending December 31, 2022 | $ 2,203 | |
2023 | 8,811 | |
2024 | 8,811 | |
2025 | 8,811 | |
2026 | 8,811 | |
2027 | 8,811 | |
Beyond 2027 | 5,227 | |
Total estimated amortization expense | 51,485 | $ 58,093 |
Other Intangibles | ||
Estimated future amortization expense | ||
Total estimated amortization expense | 0 | $ 0 |
Mortgage Servicing Rights | ||
Estimated future amortization expense | ||
Three months ending December 31, 2022 | 3,585 | |
2023 | 13,582 | |
2024 | 11,827 | |
2025 | 10,246 | |
2026 | 8,800 | |
2027 | 7,451 | |
Beyond 2027 | 22,861 | |
Total estimated amortization expense | $ 78,352 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Details Textuals) - USD ($) $ in Thousands | 2 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Valuation Allowance for Impairment of Recognized Servicing Assets, Additions (Deductions) for Expenses (Recoveries) | $ (16,186) | |||
Goodwill [Line Items] | ||||
Goodwill, Impaired, Facts and Circumstances Leading to Impairment | no | |||
Goodwill, Impairment Loss | $ 0 | $ 0 | ||
Goodwill | 1,104,992 | 1,104,992 | ||
Other Intangibles | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||
Goodwill [Line Items] | ||||
Decrease of other intangible assets | $ 0 | $ 1,317 |
Short and Long-Term Funding, FH
Short and Long-Term Funding, FHLB Advances (Components of Short-term and Long-term Funding) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Short-term Funding [Abstract] | ||
Federal funds purchased | $ 505 | $ 120 |
Securities sold under agreements to repurchase | 276,169 | 319,412 |
Federal funds purchased and securities sold under agreements to repurchase | 276,674 | 319,532 |
Commercial paper | 7,687 | 34,730 |
Total short-term funding | 284,361 | 354,262 |
Long-Term Funding | ||
Subordinated Debt | 250,000 | 250,000 |
Other Long-term Debt and Capitalized Costs | (617) | (839) |
Finance lease liability | 490 | 163 |
Long-term Debt | 249,484 | 249,324 |
TotalShortTermLongTermExcludingFHLB | 533,844 | 603,587 |
Advance from Federal Home Loan Bank | 2,583,000 | 0 |
Advance from Federal Home Loan Bank [Abstract] | ||
Advance from Federal Home Loan Bank | 2,583,000 | 0 |
Long-Term Federal Home Loan Bank Advances | 1,208,791 | 1,621,047 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances | 3,777,478 | 1,621,047 |
Debt, Long-Term and Short-Term, Combined Amount | 4,311,322 | 2,224,633 |
Fair Value Hedging [Member] | ||
Long-Term Funding | ||
Subordinated Debt | (389) | 0 |
Advance from Federal Home Loan Bank | (14,314) | 0 |
Advance from Federal Home Loan Bank [Abstract] | ||
Advance from Federal Home Loan Bank | $ (14,314) | $ 0 |
Short and Long-Term Funding (Re
Short and Long-Term Funding (Remaining Contractual Maturity of the Securities Sold Under Agreements to Repurchase) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Agency mortgage-related securities | Maturity Overnight and on Demand [Member] | ||
RemainingContractualMaturityoftheSecuritiesSoldUnderAgreementtoRepurchase [Line Items] | ||
Repurchase agreements | $ 276,169 | $ 319,412 |
Short and Long-Term Funding (Lo
Short and Long-Term Funding (Long-term Funding Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | |
Nov. 30, 2014 | Mar. 31, 2022 | Sep. 30, 2022 | |
Long-Term Funding | |||
Fair Value of Pledged Securites to Securities Sold under Agreements to Repurchase | 164% | ||
FHLB advances prepayment | $ 400,000 | ||
FHLB Advances Prepayment - Prepayment Cost | $ 0 | ||
Two Thousand Fourteen Subordinated Notes | |||
Long-Term Funding | |||
Debt Instrument, Issuance Date Month, Year | November 2014 | ||
Junior Subordinated Debentures Issued | $ 250,000 | ||
Debt Instrument, Term | 10 years | ||
Debt Instrument, Maturity Date Month, Year | January 2025 | ||
Debt Instrument Call Date Earliest Month Year | October 2024 | ||
Subordinated Borrowing, Interest Rate | 4.25% |
Derivative and Hedging Activi_3
Derivative and Hedging Activities, Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Inputs, Level 2 | Interest rate lock commitments (mortgage) | Fair Value, Measurements, Recurring | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivatives (trading liabilities) | $ 9,524 | $ 5,441 |
Fair Value, Inputs, Level 2 | Commodity contracts | Fair Value, Measurements, Recurring | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivatives (trading liabilities) | 0 | 1,248 |
Fair Value, Inputs, Level 3 | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivative Asset | 3,000 | 30 |
Derivatives (trading liabilities) | 403 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivative Asset | 3,492 | 30 |
Fair Value, Inputs, Level 3 | Mortgage banking(a)(b) | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivative Asset | 0 | 2,617 |
Fair Value, Inputs, Level 3 | Mortgage banking(a)(b) | Fair Value, Measurements, Recurring | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivative Asset | 0 | 2,617 |
Derivatives (trading liabilities) | 403 | 0 |
Asset | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivatives (trading and other assets), fair value | 73,218 | 93,026 |
Less: Legally enforceable master netting agreements | 869 | 2,143 |
Less: Cash collateral pledged/received | 63,699 | 1,313 |
Derivative Asset | 8,650 | 89,570 |
Liability | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivatives (trading and other liabilities), fair value | 275,045 | 32,921 |
Less: Legally enforceable master netting agreements | 869 | 2,143 |
Less: Cash collateral pledged/received | 0 | 11,357 |
Derivatives (trading liabilities) | 274,176 | 19,421 |
Not designated as hedging instruments | Fair Value, Inputs, Level 2 | Interest rate-related instruments — customer and mirror | Fair Value, Measurements, Recurring | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivative Asset | 59,618 | 83,626 |
Derivatives (trading liabilities) | 264,212 | 26,231 |
Not designated as hedging instruments | Fair Value, Inputs, Level 2 | Interest rate lock commitments (mortgage) | Fair Value, Measurements, Recurring | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivative Asset | 10,109 | 5,490 |
Not designated as hedging instruments | Fair Value, Inputs, Level 2 | Commodity contracts | Fair Value, Measurements, Recurring | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivative Asset | 0 | 1,264 |
Not designated as hedging instruments | Fair Value, Inputs, Level 3 | Mortgage banking(a)(b) | Fair Value, Measurements, Recurring | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivative Asset | 3,492 | 2,647 |
Not designated as hedging instruments | Asset | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivatives (trading and other assets), fair value | 73,218 | 93,026 |
Not designated as hedging instruments | Asset | Interest rate-related instruments — customer and mirror | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Notional Amount | 4,250,397 | 3,874,781 |
Not designated as hedging instruments | Asset | Interest rate lock commitments (mortgage) | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Notional Amount | 482,983 | 490,057 |
Not designated as hedging instruments | Asset | Commodity contracts | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Notional Amount | 0 | 3,894 |
Not designated as hedging instruments | Asset | Mortgage banking(a)(b) | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Notional Amount | 41,327 | 133,990 |
Not designated as hedging instruments | Liability | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Derivatives (trading and other assets), fair value | 274,139 | 32,921 |
Not designated as hedging instruments | Liability | Interest rate-related instruments — customer and mirror | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Notional Amount | 4,535,166 | 3,874,781 |
Not designated as hedging instruments | Liability | Interest rate lock commitments (mortgage) | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Notional Amount | 458,140 | 478,745 |
Not designated as hedging instruments | Liability | Commodity contracts | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Notional Amount | 0 | 3,910 |
Not designated as hedging instruments | Liability | Mortgage banking(a)(b) | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ||
Notional Amount | $ 88,000 | $ 245,016 |
Derivative and Hedging Activi_4
Derivative and Hedging Activities Cumulative Basis Adjustment for Fair Value Hedges (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Forward commitments on residential mortgage loans | |
Balance Sheet Recording of Fair Value Hedge [Line Items] | |
Derivatives (trading liabilities) | $ (835,297) |
Fair Value Hedging [Member] | |
Balance Sheet Recording of Fair Value Hedge [Line Items] | |
Deferred (Gain) Loss on Discontinuation of Fair Value Hedge | 14,703 |
Long-Term Debt [Member] | Forward commitments on residential mortgage loans | |
Balance Sheet Recording of Fair Value Hedge [Line Items] | |
Derivatives (trading liabilities) | (249,611) |
Long-Term Debt [Member] | Fair Value Hedging [Member] | |
Balance Sheet Recording of Fair Value Hedge [Line Items] | |
Deferred (Gain) Loss on Discontinuation of Fair Value Hedge | 389 |
Federal Home Loan Bank Advances [Member] | Forward commitments on residential mortgage loans | |
Balance Sheet Recording of Fair Value Hedge [Line Items] | |
Derivatives (trading liabilities) | (585,686) |
Federal Home Loan Bank Advances [Member] | Fair Value Hedging [Member] | |
Balance Sheet Recording of Fair Value Hedge [Line Items] | |
Deferred (Gain) Loss on Discontinuation of Fair Value Hedge | 14,314 |
Designated as Hedging Instrument | |
Balance Sheet Recording of Fair Value Hedge [Line Items] | |
Deferred (Gain) Loss on Discontinuation of Fair Value Hedge | $ 2,000 |
Derivative and Hedging Activi_5
Derivative and Hedging Activities Income impact of Fair Value and Cash Flow Hedge (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | $ 14,703 | $ 0 | ||
Interest Income [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | $ (120) | $ (292) | (428) | (1,128) |
Interest Expense | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (380) | (380) | ||
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Income [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (120) | (292) | (428) | (1,128) |
Not Designated as Hedging Instrument, Economic Hedge [Member] | Interest Expense | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (14,703) | (14,703) | ||
Designated as Hedging Instrument | Interest Income [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | 0 | $ 0 | 0 | $ 0 |
Designated as Hedging Instrument | Interest Expense | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | $ 14,323 | $ 14,323 |
Derivative and Hedging Activi_6
Derivative and Hedging Activities Derivative Impact on Perfomance (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Other Assets [Member] | |||||
Derivative Instruments | |||||
Derivative Asset | $ 8,650 | $ 8,650 | $ 89,570 | ||
Derivatives (trading and other assets), fair value | 73,218 | 73,218 | 93,026 | ||
Other Assets [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Derivatives (trading and other assets), fair value | 73,218 | 73,218 | 93,026 | ||
Other Liabilities [Member] | |||||
Derivative Instruments | |||||
Derivatives (trading liabilities) | 274,176 | 274,176 | 19,421 | ||
Other Liabilities [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Derivatives (trading and other assets), fair value | 274,139 | 274,139 | 32,921 | ||
Interest rate-related instruments — customer and mirror | Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Derivative Asset | 59,618 | 59,618 | 83,626 | ||
Derivatives (trading liabilities) | 264,212 | 264,212 | 26,231 | ||
Interest rate-related instruments — customer and mirror | Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring | Designated as Hedging Instrument | |||||
Derivative Instruments | |||||
Derivative Asset | 0 | 0 | 0 | ||
Derivatives (trading liabilities) | 906 | 906 | 0 | ||
Interest rate-related instruments — customer and mirror | Other Assets [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Notional Amount | 4,250,397 | 4,250,397 | 3,874,781 | ||
Interest rate-related instruments — customer and mirror | Other Assets [Member] | Designated as Hedging Instrument | |||||
Derivative Instruments | |||||
Notional Amount | 0 | 0 | 0 | ||
Interest rate-related instruments — customer and mirror | Other Liabilities [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Notional Amount | 4,535,166 | 4,535,166 | 3,874,781 | ||
Interest rate-related instruments — customer and mirror | Other Liabilities [Member] | Designated as Hedging Instrument | |||||
Derivative Instruments | |||||
Notional Amount | 850,000 | 850,000 | 0 | ||
Mortgage banking(a)(b) | Other Assets [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Notional Amount | 41,327 | 41,327 | 133,990 | ||
Mortgage banking(a)(b) | Other Liabilities [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Notional Amount | 88,000 | 88,000 | 245,016 | ||
Interest rate lock commitments (mortgage) | Other Assets [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Notional Amount | 482,983 | 482,983 | 490,057 | ||
Interest rate lock commitments (mortgage) | Other Liabilities [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Notional Amount | 458,140 | 458,140 | 478,745 | ||
Forward commitments (mortgage) | Other Assets [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Notional Amount | 0 | 0 | 3,894 | ||
Forward commitments (mortgage) | Other Liabilities [Member] | Not designated as hedging instruments | |||||
Derivative Instruments | |||||
Notional Amount | 0 | 0 | $ 3,910 | ||
Capital markets, net | Interest rate-related instruments — customer and mirror | |||||
Derivative Instruments | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (33) | $ 557 | 548 | $ 2,546 | |
Capital markets, net | Mortgage banking(a)(b) | |||||
Derivative Instruments | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (1,389) | (1,356) | (3,020) | (4,438) | |
Capital markets, net | Commodity contracts | |||||
Derivative Instruments | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 3,543 | 1,402 | 3,415 | 3,017 | |
Mortgage banking, net | Interest Rate-Related Instruments - MSRs Hedge | |||||
Derivative Instruments | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (3,547) | 0 | (12,559) | 0 | |
Mortgage banking, net | Interest rate lock commitments (mortgage) | |||||
Derivative Instruments | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 159 | (8) | 536 | 109 | |
Mortgage banking, net | Forward commitments (mortgage) | |||||
Derivative Instruments | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 0 | $ (124) | $ (16) | $ (1,256) |
Derivative and Hedging Activi_7
Derivative and Hedging Activities (Details Textuals) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 | Dec. 31, 2019 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||
Underlying Hedged Asset, Amortized Cost Basis | $ 340 | ||
Additional Collateral, Aggregate Fair Value | 81 | $ 71 | |
Derivative collateral right to reclaim cash | $ 0 | $ 11 | |
Derivative Liability Notional Amount, Terminated | $ 500 |
Balance Sheet Offsetting (Detai
Balance Sheet Offsetting (Details) - Interest Rate Contract - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Derivative assets | ||
Gross Amounts Recognized | $ 67,819 | $ 3,567 |
Derivative Liabilities Offset | (869) | (2,143) |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (63,699) | (1,313) |
Net Amounts Presented on the Consolidated Balance Sheets | 3,252 | 111 |
Derivative liabilities | ||
Gross Amounts Recognized | 870 | 15,620 |
Derivative Liability, Fair Value, Gross Asset | (869) | (2,143) |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 0 | (11,357) |
Net Amounts Presented on the Consolidated Balance Sheets | $ 1 | $ 2,120 |
Commitments, Off-Balance Shee_3
Commitments, Off-Balance Sheet Arrangements, Legal Proceedings and Regulatory Matters, Summary of Lending Related and Other Commitments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Commitments to extend credit, excluding commitments to originate residential mortgage loans held for sale(a)(b) | ||
Schedule of lending-related and other commitments [Line Items] | ||
Lending Related Commitments By Type [Domain] | $ 12,270,556 | $ 10,848,136 |
Commercial letters of credit(a) | ||
Schedule of lending-related and other commitments [Line Items] | ||
Lending Related Commitments By Type [Domain] | 5,170 | 5,992 |
Standby letters of credit(c) | ||
Schedule of lending-related and other commitments [Line Items] | ||
Lending Related Commitments By Type [Domain] | 240,487 | 230,661 |
Lines of Credit, Fair Value Disclosure | $ 2,000 | $ 2,000 |
Commitment, Changes in the Allo
Commitment, Changes in the Allowance for Unfunded Commitments (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Off-Balance Sheet, Credit Loss, Liability [Roll Forward] | ||
Balance at beginning of period | $ 39,776 | $ 47,776 |
Off-Balance Sheet, Credit Loss, Liability | 39,776 | 39,776 |
Provision for credit losses | 0 | (8,000) |
Balance at end of period | $ 39,776 | $ 39,776 |
Commitments, Off-Balance Shee_4
Commitments, Off-Balance Sheet Arrangements, Legal Proceedings and Regulatory Matters (Details Textuals) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Textuals) [Line Items] | |||||
Expense Related to Qualified Affordable Housing Projects | $ 9,000,000 | $ 8,000,000 | $ 25,000,000 | $ 24,000,000 | |
Remaining Investment in Qualified Affordable Housing Projects | 246,000,000 | 246,000,000 | $ 262,000,000 | ||
Variable Interest Entity Reporting Entity Involvement Unfunded Obligation Amount | 38,000,000 | 38,000,000 | 80,000,000 | ||
Qualified Affordable Housing Investments, Impairment Loss | 0 | 0 | |||
Loans Repurchased Under Make Whole Requests | 4,000,000 | 4,000,000 | 8,000,000 | ||
Loans Sold To Outside Investors Loss ReimbursementSettlement Paid | 114,000 | ||||
Loans Sold To Outside Investors Original Amount | 6,700,000,000 | 6,700,000,000 | |||
Loans Sold To Outside Investors Remaining Outstanding Amount | 4,300,000,000 | 4,300,000,000 | |||
Mortgage Repurchase Reserve | 1,000,000 | 1,000,000 | 1,000,000 | ||
Residential Mortgage Loans Sold With Recourse Risk | 7,000,000 | 7,000,000 | 10,000,000 | ||
Residential Mortgage Loans Sold With Credit Recourse Risk | 20,000,000 | 20,000,000 | 24,000,000 | ||
Residential Mortgage Loans with Credit Risk Recourse | 0 | 0 | |||
UnconsolidatedProjectsLowIncomeHousing [Member] | |||||
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Textuals) [Line Items] | |||||
Other Investments | 250,000,000 | 250,000,000 | 268,000,000 | ||
PrincipalInvestmentCommitment [Member] | |||||
Commitments, Off-Balance Sheet Arrangements, and Contingent Liabilities (Textuals) [Line Items] | |||||
Other Investments | $ 25,000,000 | $ 25,000,000 | $ 25,000,000 |
Fair Value Measurements, Assets
Fair Value Measurements, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | $ 2,487,312 | $ 4,332,015 |
Equity securities with readily determinable fair values, Fair Value | 6,000 | 5,000 |
Servicing Asset at Fair Value, Amount | 78,352 | 57,158 |
Fair Value, Inputs, Level 1 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 108,284 | 122,957 |
Equity securities with readily determinable fair values, Fair Value | 5,655 | 4,810 |
Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 2,379,028 | 4,209,058 |
Fair Value, Inputs, Level 2 | Designated as Hedging Instrument | ||
Liabilities, Fair Value Disclosure [Abstract] | ||
Interest Rate Fair Value Hedge Liability at Fair Value | 906 | 0 |
Fair Value, Inputs, Level 3 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 3,000 | 30 |
Servicing Asset at Fair Value, Amount | 78,352 | 57,259 |
Liabilities, Fair Value Disclosure [Abstract] | ||
Trading liabilities | 403 | 0 |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 3,492 | 30 |
US Treasury Securities | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 108,284 | 122,957 |
US Treasury Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 108,284 | 122,957 |
Agency Securities | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 13,399 | 14,897 |
Agency Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 13,399 | 14,897 |
US States and Political Subdivisions Debt Securities [Member] | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 340,898 | 400,457 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 340,898 | 400,457 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 329,724 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 0 | 329,724 |
Residential Related Securities | FNMA/FHLMC | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 1,656,061 | 2,691,879 |
Residential Related Securities | FNMA/FHLMC | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 1,656,061 | 2,691,879 |
Residential Related Securities | Government National Mortgage Association (GNMA) [Member] | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 78,029 | 67,780 |
Residential Related Securities | Government National Mortgage Association (GNMA) [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 78,029 | 67,780 |
Commercial mortgage-related securities | FNMA/FHLMC | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 17,286 | 350,623 |
Commercial mortgage-related securities | FNMA/FHLMC | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 17,286 | 350,623 |
Commercial mortgage-related securities | Government National Mortgage Association (GNMA) [Member] | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 107,094 | 166,799 |
Commercial mortgage-related securities | Government National Mortgage Association (GNMA) [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 107,094 | 166,799 |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 158,556 | 177,325 |
Federal Family Education Loan Program (FFELP) Guaranteed Loans [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 158,556 | 177,325 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 4,772 | 6,580 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 4,772 | 6,580 |
Other Debt securities | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 2,933 | 2,994 |
Other Debt securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 2,933 | 2,994 |
Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 108,284 | 122,957 |
Available-for-sale Securities [Member] | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Debt Securities, Available-for-sale | 2,379,028 | 4,209,058 |
Other Debt And Other Equity Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Equity securities with readily determinable fair values, Fair Value | 5,655 | 4,810 |
Residential loans held for sale | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 51,134 | 136,638 |
Interest rate-related and other instruments — customer and mirror, net | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Designated as Hedging Instrument | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 0 | 0 |
Liabilities, Fair Value Disclosure [Abstract] | ||
Trading liabilities | 906 | 0 |
Interest rate-related and other instruments — customer and mirror, net | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Not designated as hedging instruments | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 59,618 | 83,626 |
Liabilities, Fair Value Disclosure [Abstract] | ||
Trading liabilities | 264,212 | 26,231 |
Foreign currency exchange forwards | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Liabilities, Fair Value Disclosure [Abstract] | ||
Trading liabilities | 9,524 | 5,441 |
Foreign currency exchange forwards | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Not designated as hedging instruments | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 10,109 | 5,490 |
Commodity contracts | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | ||
Liabilities, Fair Value Disclosure [Abstract] | ||
Trading liabilities | 0 | 1,248 |
Commodity contracts | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Not designated as hedging instruments | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 0 | 1,264 |
Mortgage banking(a)(b) | Fair Value, Inputs, Level 3 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 0 | 2,617 |
Mortgage banking(a)(b) | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | 0 | 2,617 |
Liabilities, Fair Value Disclosure [Abstract] | ||
Trading liabilities | 403 | 0 |
Mortgage banking(a)(b) | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Not designated as hedging instruments | ||
Assets, Fair Value Disclosure [Abstract] | ||
Trading assets | $ 3,492 | $ 2,647 |
Fair Value Measurements Financi
Fair Value Measurements Financial Instruments Classified Within Level 3 (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Interest rate lock commitments to originate residential mortgage loans held for sale | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning Balance | $ 2,617 | $ 9,624 |
New production | 9,526 | 53,686 |
Closed loans / settlements | (641) | (53,477) |
Other | (11,905) | (7,216) |
Change in mortgage derivative | (3,020) | (7,007) |
Ending Balance | (403) | 2,617 |
Forward commitments on residential mortgage loans | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning Balance | (30) | 2,046 |
New production | (1,734) | (3,281) |
Closed loans / settlements | 21,244 | 3,740 |
Other | (22,972) | (2,535) |
Change in mortgage derivative | (3,462) | (2,076) |
Ending Balance | (3,492) | (30) |
Total derivatives | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Beginning Balance | 2,647 | 7,579 |
New production | 11,260 | 56,966 |
Closed loans / settlements | (21,885) | (57,217) |
Other | 11,067 | (4,680) |
Change in mortgage derivative | 442 | (4,932) |
Ending Balance | $ 3,089 | $ 2,647 |
Fair Value Measurements Equity
Fair Value Measurements Equity Securities Without Readily Determinable Fair Values (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Equity Securities Without Readily Determinable Fair Value Amount [Roll Forward] | ||
Carrying value as of December 31, 2021 | $ 14,000 | |
Carrying value changes | 5,690 | $ 0 |
Additions | 4 | |
Equity Securities without Readily Determinable Fair Value, Sales, Annual Amount | (12) | |
Carrying value as of September 30, 2022 | 19,000 | |
Fair Value, Inputs, Level 3 | ||
Equity Securities Without Readily Determinable Fair Value Amount [Roll Forward] | ||
Carrying value as of December 31, 2021 | 13,542 | |
Carrying value changes | 5,690 | |
Carrying value as of September 30, 2022 | 19,224 | |
Cumulative upward carrying value changes between January 1, 2018 and September 30, 2022 | 19,134 | |
Cumulative downward carrying value changes/impairment between January 1, 2018 and September 30, 2022 | $ 0 |
Fair Value Measurements, Asse_2
Fair Value Measurements, Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | |||
Gain on sale and net write-up of equity securities | $ 5,690 | $ 0 | |
Mortgage Servicing Rights (MSR) Impairment (Recovery) | (22,348) | $ (12,231) | |
Mortgage servicing rights(e) | $ 57,259 | ||
Possible Liquidity Issues [Member] | |||
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | |||
Financing Receivable, Troubled Debt Restructuring | 0 | 7,000 | |
Fair Value, Inputs, Level 3 | |||
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | |||
Gain on sale and net write-up of equity securities | 5,690 | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 | |||
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | |||
Individually evaluated loans(b) | 29,558 | 69,917 | |
Provision for credit losses | 5,010 | (3,045) | |
Gain on sale and net write-up of equity securities | 5,690 | ||
Investments, Fair Value Disclosure | 19,134 | ||
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 16,186 | ||
Mortgage servicing rights(e) | 57,259 | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 | |||
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Write-down or Reserve, Amount | 1,639 | 7,345 | |
OREO(c) | $ 3,534 | $ 21,299 |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Unobservable Level 3 Measurements (Details) - Fair Value, Inputs, Level 3 | 9 Months Ended |
Sep. 30, 2022 | |
Discounted Cash Flow | Mortgage Servicing Rights | Minimum | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 6% |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 0% |
Discounted Cash Flow | Mortgage Servicing Rights | Maximum | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 9% |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 100% |
Discounted Cash Flow | Mortgage Servicing Rights | Weighted Average [Member] | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 7% |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Prepayment Speed | 9% |
Discounted Cash Flow | Mortgage banking(a)(b) | Minimum | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 17% |
Discounted Cash Flow | Mortgage banking(a)(b) | Maximum | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 100% |
Discounted Cash Flow | Mortgage banking(a)(b) | Weighted Average [Member] | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 83% |
Appraisals/Discounted Cash Flow | Impaired Finance Receivable | Minimum | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 29% |
Appraisals/Discounted Cash Flow | Impaired Finance Receivable | Maximum | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 52% |
Appraisals/Discounted Cash Flow | Impaired Finance Receivable | Weighted Average [Member] | |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | |
Assumption for Fair Value of Assets or Liabilities that relate to Transferor's Continuing Involvement, Discount Rate | 36% |
Fair Value Measurements, Fair V
Fair Value Measurements, Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financial assets | ||
Cash and due from banks | $ 386,231 | $ 343,831 |
Interest-bearing deposits in other financial institutions | 112,173 | 681,684 |
Federal funds sold and securities purchased under agreements to resell | 4,015 | 0 |
Available-for-sale Securities | 2,487,312 | 4,332,015 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 3,951,553 | 2,239,003 |
Investment securities held to maturity, fair value | 3,295,760 | 2,348,664 |
Equity securities with readily determinable fair values, Fair Value | 6,000 | 5,000 |
Equity Securities without Readily Determinable Fair Value, Amount | 19,000 | 14,000 |
Equity Securities, FV-NI and without Readily Determinable Fair Value | 24,879 | 18,352 |
FHLB and Federal Reserve Bank stocks | 279,334 | 168,281 |
Residential loans held for sale | 51,134 | 136,638 |
Loans, net | 27,524,376 | 23,944,934 |
Bank owned life insurance, fair value | 677,129 | 680,021 |
Servicing Asset at Fair Value, Amount | 78,352 | 57,158 |
Financial liabilities | ||
Short-term funding | 284,361 | 354,262 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances | 3,777,478 | 1,621,047 |
Other long-term funding | 249,484 | 249,324 |
Letters of Credit Outstanding, Amount | 240,000 | 231,000 |
US Treasury Securities | ||
Financial assets | ||
Available-for-sale Securities | 108,284 | 122,957 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 998 | 1,000 |
Investment securities held to maturity, fair value | 932 | 1,001 |
Fair Value, Inputs, Level 1 | ||
Financial assets | ||
Available-for-sale Securities | 108,284 | 122,957 |
Equity securities with readily determinable fair value, Carrying Amount | 5,655 | 4,810 |
Equity securities with readily determinable fair values, Fair Value | 5,655 | 4,810 |
Fair Value, Inputs, Level 1 | US Treasury Securities | Fair Value, Measurements, Recurring | ||
Financial assets | ||
Available-for-sale Securities | 108,284 | 122,957 |
Fair Value, Inputs, Level 2 | ||
Financial assets | ||
Available-for-sale Securities | 2,379,028 | 4,209,058 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 3,950,493 | 2,237,947 |
Investment securities held to maturity, fair value | 3,294,767 | 2,347,608 |
Financial liabilities | ||
Brokered CDs and other time deposits | 1,233,833 | 1,347,262 |
Brokered CDs and other time deposits, fair value | 1,233,833 | 1,347,262 |
Short-term funding | 284,361 | 354,262 |
Short-term funding, fair value | 283,755 | 354,248 |
Advances, Fair Value Disclosure | 3,780,744 | 1,680,814 |
Long-term funding, fair value | 243,586 | 265,545 |
Standby letters of credit | 2,457 | 2,367 |
Standby letters of credit, fair value | 2,457 | 2,367 |
Fair Value, Inputs, Level 2 | Other Assets [Member] | ||
Financial assets | ||
Derivative Asset | 69,726 | 90,379 |
Derivatives (trading and other assets), fair value | 69,726 | 90,379 |
Fair Value, Inputs, Level 2 | Other Liabilities [Member] | ||
Financial liabilities | ||
Derivatives (trading liabilities) | 274,642 | 32,921 |
Derivatives (trading and other liabilities), fair value | 274,642 | 32,921 |
Fair Value, Inputs, Level 3 | ||
Financial assets | ||
Equity Securities without Readily Determinable Fair Value, Amount | 19,224 | 13,542 |
Equity Securities, FV-NI and without Readily Determinable Fair Value | 19,224 | 13,542 |
Loans, net, fair value | 26,285,810 | 23,980,330 |
Servicing Asset | 78,352 | 54,862 |
Servicing Asset at Fair Value, Amount | 78,352 | 57,259 |
Derivative Asset | 3,000 | 30 |
Financial liabilities | ||
Noninterest-bearing demand, savings, interest-bearing demand, and money market accounts | 27,964,749 | 27,119,167 |
Noninterest-bearing demand, savings, interest-bearing demand, and money market deposits, fair value | 27,964,749 | 27,119,167 |
Derivatives (trading liabilities) | 403 | 0 |
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring | ||
Financial assets | ||
Derivative Asset | 3,492 | 30 |
Fair Value, Inputs, Level 3 | Mortgage banking(a)(b) | ||
Financial assets | ||
Derivative Asset | 0 | 2,617 |
Fair Value, Inputs, Level 3 | Mortgage banking(a)(b) | Fair Value, Measurements, Recurring | ||
Financial assets | ||
Derivative Asset | 0 | 2,617 |
Financial liabilities | ||
Derivatives (trading liabilities) | 403 | 0 |
Fair Value, Inputs, Level 3 | Forward commitments (mortgage) | ||
Financial assets | ||
Derivative Asset | $ 3,492 | $ 30 |
Retirement Plans, Components of
Retirement Plans, Components of Net Periodic Benefit Cost for the Pension and Postretirement Tables (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
RAP | ||||
Net period benefit cost for the pension and postretirement plans | ||||
Defined Benefit Plan, Description | The Corporation has a noncontributory defined benefit RAP, covering substantially all employees who meet participation requirements. The benefits are based primarily on years of service and the employee’s compensation paid. Employees of acquired entities generally participate in the RAP after consummation of the business combinations. Any retirement plans of acquired entities are typically merged into the RAP after completion of the mergers, and credit is usually given to employees for years of service at the acquired institution for vesting and eligibility purposes. | |||
Service cost | $ 906 | $ 1,684 | $ 2,752 | $ 5,835 |
Interest cost | 1,820 | 1,682 | 5,364 | 4,927 |
Expected return on plan assets | (6,706) | (6,395) | (20,177) | (19,256) |
Amortization of prior service cost | (63) | (19) | (188) | (55) |
Amortization of actuarial loss | 347 | 1,346 | 494 | 3,446 |
Total net periodic pension cost | (3,696) | (1,701) | (11,754) | (5,103) |
Postretirement Plan | ||||
Net period benefit cost for the pension and postretirement plans | ||||
Interest cost | 13 | 13 | 40 | 39 |
Amortization of prior service cost | (19) | (19) | (56) | (56) |
Total net periodic pension cost | $ (6) | $ (6) | $ (17) | $ (17) |
Retirement Plans (Details Textu
Retirement Plans (Details Textuals) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
RAP | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 | $ 0 |
Segment Reporting (Details)
Segment Reporting (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Income Statement Data Abstract | ||||||||
Net interest income | $ 264,439 | $ 183,675 | $ 668,332 | $ 539,092 | ||||
Net intersegment interest income (expense) | 0 | 0 | 0 | 0 | ||||
Segment net interest income | 264,439 | 183,675 | 668,332 | 539,092 | ||||
Noninterest income(a) | 70,788 | 82,076 | 220,713 | 250,862 | ||||
Total revenue | 335,227 | 265,752 | 889,045 | 789,954 | ||||
Provision for credit losses | 16,998 | (24,010) | 13,006 | (82,018) | ||||
Noninterest expense | 195,791 | 177,892 | 550,503 | 527,713 | ||||
Income before income taxes | 122,438 | 111,870 | 325,536 | 344,259 | ||||
Income tax expense (benefit) | 26,163 | 23,060 | 68,176 | 70,142 | ||||
Net income | 96,275 | $ 86,824 | $ 74,262 | 88,809 | $ 91,007 | $ 94,301 | 257,360 | 274,117 |
Segment Balance Sheet Data | ||||||||
Allocated goodwill | 1,104,992 | 1,104,992 | ||||||
Operating Segments | Corporate and Commercial Specialty | ||||||||
Segment Income Statement Data Abstract | ||||||||
Net interest income | 161,143 | 91,012 | 363,135 | 270,712 | ||||
Net intersegment interest income (expense) | (37,998) | 3,696 | (34,774) | 12,690 | ||||
Segment net interest income | 123,145 | 94,709 | 328,361 | 283,403 | ||||
Noninterest income(a) | 35,663 | 41,892 | 112,620 | 120,991 | ||||
Total revenue | 158,808 | 136,601 | 440,981 | 404,394 | ||||
Provision for credit losses | 11,904 | 14,349 | 36,803 | 46,745 | ||||
Noninterest expense | 58,934 | 56,209 | 172,141 | 165,568 | ||||
Income before income taxes | 87,970 | 66,043 | 232,037 | 192,082 | ||||
Income tax expense (benefit) | 16,420 | 11,920 | 42,692 | 35,021 | ||||
Net income | 71,551 | 54,123 | 189,346 | 157,060 | ||||
Segment Balance Sheet Data | ||||||||
Allocated goodwill | 525,836 | 525,836 | ||||||
Operating Segments | Community, Consumer, and Business | ||||||||
Segment Income Statement Data Abstract | ||||||||
Net interest income | 87,156 | 73,616 | 233,699 | 218,868 | ||||
Net intersegment interest income (expense) | 49,575 | 15,283 | 99,046 | 46,165 | ||||
Segment net interest income | 136,731 | 88,899 | 332,745 | 265,033 | ||||
Noninterest income(a) | 26,745 | 37,053 | 92,072 | 117,351 | ||||
Total revenue | 163,476 | 125,952 | 424,817 | 382,384 | ||||
Provision for credit losses | 5,378 | 4,748 | 14,958 | 15,955 | ||||
Noninterest expense | 107,782 | 98,172 | 311,210 | 300,913 | ||||
Income before income taxes | 50,316 | 23,032 | 98,649 | 65,517 | ||||
Income tax expense (benefit) | 10,567 | 4,837 | 20,716 | 13,758 | ||||
Net income | 39,749 | 18,196 | 77,933 | 51,758 | ||||
Segment Balance Sheet Data | ||||||||
Allocated goodwill | 579,156 | 579,156 | ||||||
Operating Segments | Risk Management and Shared Services | ||||||||
Segment Income Statement Data Abstract | ||||||||
Net interest income | 16,140 | 19,047 | 71,498 | 49,511 | ||||
Net intersegment interest income (expense) | (11,577) | (18,980) | (64,272) | (58,855) | ||||
Segment net interest income | 4,563 | 68 | 7,227 | (9,344) | ||||
Noninterest income(a) | 8,381 | 3,131 | 16,021 | 12,520 | ||||
Total revenue | 12,943 | 3,199 | 23,247 | 3,176 | ||||
Provision for credit losses | (283) | (43,107) | (38,756) | (144,717) | ||||
Noninterest expense | 29,076 | 23,512 | 67,153 | 61,233 | ||||
Income before income taxes | (15,849) | 22,794 | (5,150) | 86,660 | ||||
Income tax expense (benefit) | (824) | 6,304 | 4,769 | 21,363 | ||||
Net income | $ (15,025) | $ 16,490 | (9,918) | 65,298 | ||||
Segment Balance Sheet Data | ||||||||
Allocated goodwill | $ 0 | $ 0 |
Segment Reporting (Details Text
Segment Reporting (Details Textuals) $ in Millions | 9 Months Ended | |
Sep. 30, 2022 segment | Sep. 30, 2021 USD ($) | |
Segment Reporting [Abstract] | ||
Number of Reportable Segments | segment | 3 | |
Whitnell | ||
Segment Reporting [Abstract] | ||
Gain (Loss) on Sale and Maturity of Other Investments, Before Tax | $ 2 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Gain (Loss) on Sale and Maturity of Other Investments, Before Tax | $ 2 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||
Beginning Balance | $ (10,317) | $ (10,317) | ||||||
Investment securities (gains), net | $ 0 | $ 0 | (8) | $ (437) | ||||
HTM investment securities, net, at amortized cost | (2,888) | (172) | (7,269) | (1,335) | ||||
Personnel (expense) | (118,243) | (107,880) | (335,720) | (318,900) | ||||
Net other comprehensive (loss) during period | (72,603) | $ (45,764) | (126,708) | (13,702) | $ 7,082 | $ (16,811) | (245,074) | (23,431) |
Ending Balance | (255,391) | (255,391) | ||||||
AFS Investment Securities | ||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||
Beginning Balance | (177,726) | (5,266) | 30,076 | 41,325 | (5,266) | 41,325 | ||
Other comprehensive (loss) before reclassifications | (100,092) | (19,827) | (268,413) | (35,829) | ||||
Unrealized (losses) on AFS securities transferred to HTM securities | (67,604) | |||||||
Investment securities (gains), net | (12) | 16 | ||||||
HTM investment securities, net, at amortized cost | 2,888 | 172 | 7,269 | 1,335 | ||||
Personnel (expense) | 0 | 0 | 0 | 0 | ||||
Other expense | 0 | 0 | 0 | 0 | ||||
Income tax (expense) benefit | 24,810 | 4,975 | 83,906 | 8,548 | ||||
Net other comprehensive (loss) during period | (72,394) | (14,681) | (244,854) | (25,930) | ||||
Ending Balance | (250,120) | (177,726) | 15,395 | 30,076 | (250,120) | 15,395 | ||
Defined Benefit Pension and Postretirement Obligations | ||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||
Beginning Balance | (5,062) | (5,051) | (27,187) | (28,707) | (5,051) | (28,707) | ||
Other comprehensive (loss) before reclassifications | 0 | 0 | 0 | 0 | ||||
Unrealized (losses) on AFS securities transferred to HTM securities | 0 | |||||||
Investment securities (gains), net | 0 | 0 | ||||||
HTM investment securities, net, at amortized cost | 0 | 0 | 0 | 0 | ||||
Personnel (expense) | (82) | (37) | (244) | (111) | ||||
Other expense | 347 | 1,346 | 494 | 3,446 | ||||
Income tax (expense) benefit | (474) | (330) | (470) | (836) | ||||
Net other comprehensive (loss) during period | (209) | 979 | (221) | 2,498 | ||||
Ending Balance | (5,272) | (5,062) | (26,209) | (27,187) | (5,272) | (26,209) | ||
Accumulated Other Comprehensive Income (Loss) | ||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||
Beginning Balance | (182,788) | (10,317) | 2,889 | 12,618 | (10,317) | 12,618 | ||
Other comprehensive (loss) before reclassifications | (100,092) | (19,827) | (268,413) | (35,829) | ||||
Unrealized (losses) on AFS securities transferred to HTM securities | (67,604) | |||||||
Investment securities (gains), net | (12) | 16 | ||||||
HTM investment securities, net, at amortized cost | 2,888 | 172 | 7,269 | 1,335 | ||||
Personnel (expense) | (82) | (37) | (244) | (111) | ||||
Other expense | 347 | 1,346 | 494 | 3,446 | ||||
Income tax (expense) benefit | 24,336 | 4,644 | 83,436 | 7,712 | ||||
Net other comprehensive (loss) during period | (72,603) | (45,764) | $ (126,708) | (13,702) | 7,082 | $ (16,811) | (245,074) | (23,431) |
Ending Balance | $ (255,391) | $ (182,788) | $ (10,813) | $ 2,889 | $ (255,391) | $ (10,813) |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | $ 49,011 | $ 53,099 | $ 152,974 | $ 158,383 |
Noninterest income (out-of-scope of Topic 606)(b) | 21,777 | 28,977 | 67,740 | 92,479 |
Total noninterest income | 70,788 | 82,076 | 220,713 | 250,862 |
Whitnell | ||||
Disaggregation of Revenue [Line Items] | ||||
Gain (Loss) on Sale and Maturity of Other Investments, Before Tax | 2,000 | |||
Wealth management fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 19,984 | 22,110 | 63,719 | 67,229 |
Service charges and deposit account fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 15,029 | 16,962 | 48,392 | 47,366 |
Card-based fees(a) | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 11,512 | 11,147 | 32,933 | 31,920 |
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 2,486 | 2,880 | 7,930 | 11,868 |
Corporate and Commercial Specialty | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 23,931 | 27,176 | 77,846 | 82,540 |
Noninterest income (out-of-scope of Topic 606)(b) | 11,732 | 14,717 | 34,774 | 38,451 |
Corporate and Commercial Specialty | Wealth management fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 19,984 | 22,110 | 63,719 | 67,229 |
Corporate and Commercial Specialty | Service charges and deposit account fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 3,128 | 3,948 | 10,636 | 11,748 |
Corporate and Commercial Specialty | Card-based fees(a) | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 424 | 381 | 1,203 | 1,011 |
Corporate and Commercial Specialty | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 395 | 738 | 2,288 | 2,552 |
Community, Consumer, and Business | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 24,503 | 25,803 | 74,642 | 74,984 |
Noninterest income (out-of-scope of Topic 606)(b) | 2,241 | 11,250 | 17,431 | 42,366 |
Community, Consumer, and Business | Service charges and deposit account fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 11,896 | 13,009 | 37,743 | 35,591 |
Community, Consumer, and Business | Card-based fees(a) | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 10,970 | 10,707 | 31,629 | 30,830 |
Community, Consumer, and Business | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 1,637 | 2,088 | 5,270 | 8,563 |
Risk Management and Shared Services | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 577 | 120 | 486 | 858 |
Noninterest income (out-of-scope of Topic 606)(b) | 7,804 | 3,011 | 15,535 | 11,662 |
Risk Management and Shared Services | Service charges and deposit account fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 5 | 5 | 13 | 27 |
Risk Management and Shared Services | Card-based fees(a) | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 118 | 60 | 101 | 79 |
Risk Management and Shared Services | Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of Topic 606) | 454 | 55 | 373 | 752 |
Operating Segments [Member] | Corporate and Commercial Specialty | ||||
Disaggregation of Revenue [Line Items] | ||||
Total noninterest income | 35,663 | 41,892 | 112,620 | 120,991 |
Operating Segments [Member] | Community, Consumer, and Business | ||||
Disaggregation of Revenue [Line Items] | ||||
Total noninterest income | 26,745 | 37,053 | 92,072 | 117,351 |
Operating Segments [Member] | Risk Management and Shared Services | ||||
Disaggregation of Revenue [Line Items] | ||||
Total noninterest income | $ 8,381 | $ 3,131 | $ 16,021 | $ 12,520 |
Leases Lease, Cost and Cash Flo
Leases Lease, Cost and Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Leases [Abstract] | ||||
Operating lease costs | $ 1,637 | $ 2,367 | $ 5,361 | $ 6,850 |
Finance lease costs | 23 | 17 | 96 | 76 |
Operating lease cash flows | 1,880 | 2,858 | 6,614 | 8,598 |
Finance lease cash flows | $ 22 | $ 21 | $ 103 | $ 101 |
Leases Components of Lease Expe
Leases Components of Lease Expense (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
Operating lease right-of-use asset | $ 26,970 | $ 28,299 |
Finance lease right-of-use asset | 477 | 143 |
Operating lease liability | 29,897 | 31,345 |
Finance lease liability | $ 490 | $ 163 |
Leases Operating Lease Informat
Leases Operating Lease Information (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Lessee, Lease, Description [Line Items] | ||
Total lease payments | $ 32,604 | $ 34,751 |
Operating Lease, Weighted Average Remaining Lease Term | 6 years 3 months 10 days | 5 years 11 months 8 days |
Operating Lease, Weighted Average Discount Rate, Percent | 2.65% | 3.22% |
Finance Lease, Liability, Payment, Due | $ 508 | $ 164 |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 6 months | 1 year 25 days |
Finance Lease, Weighted Average Discount Rate, Percent | 1.32% | 1.24% |
Equipment | ||
Lessee, Lease, Description [Line Items] | ||
Total lease payments | $ 0 | $ 192 |
Operating Lease, Weighted Average Remaining Lease Term | 0 years | 1 year 6 months |
Operating Lease, Weighted Average Discount Rate, Percent | 0% | 0.45% |
Retail and corporate offices | ||
Lessee, Lease, Description [Line Items] | ||
Total lease payments | $ 27,640 | $ 29,008 |
Operating Lease, Weighted Average Remaining Lease Term | 6 years 25 days | 5 years 6 months 21 days |
Operating Lease, Weighted Average Discount Rate, Percent | 2.56% | 3.26% |
Finance Lease, Liability, Payment, Due | $ 508 | $ 112 |
Finance Lease, Weighted Average Remaining Lease Term | 5 years 6 months | 1 year 3 months |
Finance Lease, Weighted Average Discount Rate, Percent | 1.32% | 1.32% |
Land | ||
Lessee, Lease, Description [Line Items] | ||
Total lease payments | $ 4,963 | $ 5,551 |
Operating Lease, Weighted Average Remaining Lease Term | 7 years 6 months 10 days | 8 years 3 months 14 days |
Operating Lease, Weighted Average Discount Rate, Percent | 3.13% | 3.12% |
Finance Lease, Liability, Payment, Due | $ 0 | $ 51 |
Finance Lease, Weighted Average Remaining Lease Term | 0 years | 8 months 1 day |
Finance Lease, Weighted Average Discount Rate, Percent | 0% | 1.07% |
Leases Amortization of Operatin
Leases Amortization of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Operating Leases | ||
Three months ending December 31, 2022 | $ 1,641 | |
2023 | 6,224 | |
2024 | 5,669 | |
2025 | 4,548 | |
2026 | 4,249 | |
Beyond 2026 | 10,272 | |
Total lease payments | 32,604 | $ 34,751 |
Less: interest | 2,707 | |
Present value of lease payments | 29,897 | 31,345 |
Finance Leases | ||
Three months ending December 31, 2022 | 22 | |
2023 | 92 | |
2024 | 93 | |
2025 | 93 | |
2026 | 93 | |
Beyond 2026 | 116 | |
Total lease payments | 508 | 164 |
Less: interest | 18 | |
Present value of lease payments | 490 | $ 163 |
Total Leases | ||
Three months ending December 31, 2022 | 1,664 | |
2023 | 6,316 | |
2024 | 5,761 | |
2025 | 4,641 | |
2026 | 4,342 | |
Beyond 2026 | 10,388 | |
Total lease payments | 33,111 | |
Less: interest | 2,724 | |
Present value of lease payments | $ 30,387 |
Leases (Details Textuals)
Leases (Details Textuals) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Lessee, Lease, Description [Line Items] | ||
Additional operating leases | $ 14 | $ 13 |
Minimum | ||
Lessee, Lease, Description [Line Items] | ||
Operating lease terms | 1 year | |
Additional operating lease terms | 1 year | |
Maximum | ||
Lessee, Lease, Description [Line Items] | ||
Operating lease terms | 40 years | |
Additional operating lease terms | 6 years |