XML 38 R28.htm IDEA: XBRL DOCUMENT
v3.23.3

Derivatives (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Values of Derivative Financial Instruments | The table below presents the notional or contractual amounts and fair values of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets at September 30, 2023 and December 31, 2022.
|  |  |  | September 30, 2023 |  |  | December 31, 2022 |
|  |  |  |  |  |  | Derivative (1) |  |  |  |  |  | Derivative (1) |
($ in thousands) |  | Type of Hedge |  | Notional or Contractual Amount |  |  | Assets |  |  | Liabilities |  |  | Notional or Contractual Amount |  |  | Assets |  |  | Liabilities |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps - variable rate loans |  | Cash Flow |  | $ | 1,550,000 |  |  | $ | — |  |  | $ | 117,363 |  |  | $ | 2,100,000 |  |  | $ | 2,301 |  |  | $ | 112,262 |
Interest rate swaps - securities |  | Fair Value |  |  | 513,500 |  |  |  | 39,902 |  |  |  | — |  |  |  | 716,000 |  |  |  | 43,501 |  |  |  | — |
|  |  |  |  | 2,063,500 |  |  |  | 39,902 |  |  |  | 117,363 |  |  |  | 2,816,000 |  |  |  | 45,802 |  |  |  | 112,262 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | N/A |  |  | 5,078,764 |  |  |  | 190,288 |  |  |  | 187,752 |  |  |  | 4,620,544 |  |  |  | 172,242 |  |  |  | 169,712 |
Risk participation agreements |  | N/A |  |  | 338,165 |  |  |  | 9 |  |  |  | 11 |  |  |  | 298,729 |  |  |  | 1 |  |  |  | 13 |
Interest rate-lock commitments on residential mortgage loans |  | N/A |  |  | 15,136 |  |  |  | 351 |  |  |  | 2 |  |  |  | 10,930 |  |  |  | 8 |  |  |  | 113 |
Forward commitments to sell residential mortgage loans |  | N/A |  |  | 31,013 |  |  |  | — |  |  |  | 174 |  |  |  | 13,819 |  |  |  | 161 |  |  |  | 8 |
To Be Announced (TBA) securities |  | N/A |  |  | 22,000 |  |  |  | 177 |  |  |  | 2 |  |  |  | 10,000 |  |  |  | 78 |  |  |  | 7 |
Foreign exchange forward contracts |  | N/A |  |  | 98,759 |  |  |  | 965 |  |  |  | 933 |  |  |  | 123,106 |  |  |  | 1,643 |  |  |  | 1,594 |
Visa Class B derivative contract |  | N/A |  |  | 42,690 |  |  |  | — |  |  |  | 1,432 |  |  |  | 43,111 |  |  |  | — |  |  |  | 1,883 |
|  |  |  |  | 5,626,527 |  |  |  | 191,790 |  |  |  | 190,306 |  |  |  | 5,120,239 |  |  |  | 174,133 |  |  |  | 173,330 |
Total derivatives |  |  |  | $ | 7,690,027 |  |  | $ | 231,692 |  |  | $ | 307,669 |  |  | $ | 7,936,239 |  |  | $ | 219,935 |  |  | $ | 285,592 |
Less: netting adjustment (2) |  |  |  |  |  |  |  | (107,261 | ) |  |  | — |  |  |  |  |  |  | (110,438 | ) |  |  | (81,471 | )
Total derivative assets/liabilities |  |  |  |  |  |  | $ | 124,431 |  |  | $ | 307,669 |  |  |  |  |  | $ | 109,497 |  |  | $ | 204,121 |
(1) Derivative assets and liabilities are reported at fair value in other assets or other liabilities, respectively, in the consolidated balance sheets. (2) Represents balance sheet netting of derivative assets and liabilities for variation margin collateral held or placed with the same central clearing counterparty. See offsetting assets and liabilities for further information.
Effects of Derivative Instruments in the Statement of Income | The effects of derivative instruments in the Consolidated Statements of Income for the three and nine months ended September 30, 2023 and 2022 are presented in the table below.
|  |  |  | Three Months Ended |  |  | Nine Months Ended |
($ in thousands) |  |  |  | September 30, |  |  | September 30, |
Derivative Instruments: |  | Location of Gain (Loss) Recognized in the Statements of Income: |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable rate loans |  | Interest income - loans |  | $ | (11,116 | ) |  | $ | 1,752 |  |  | $ | (28,609 | ) |  | $ | 14,519 |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities |  | Interest income - securities - taxable |  |  | 3,023 |  |  |  | 1,596 |  |  |  | 8,786 |  |  |  | 2,625 |
Securities- terminations |  | Noninterest income - securities transactions, net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,620 |
Derivatives not designated as hedging: |  |  |  |  |  |  |  |  |  |
Residential mortgage banking |  | Noninterest income - secondary mortgage market operations |  |  | 235 |  |  |  | (365 | ) |  |  | 736 |  |  |  | 2,595 |
Customer and all other instruments |  | Noninterest income - other noninterest income |  |  | 418 |  |  |  | 1,309 |  |  |  | 1,585 |  |  |  | 6,386 |
Total gain (loss) |  |  |  | $ | (7,440 | ) |  | $ | 4,292 |  |  | $ | (17,502 | ) |  | $ | 27,745 |
Offsetting Derivative Assets and Liabilities Subject to Master Netting Arrangements | Offsetting information in regards to all derivative assets and liabilities, including accrued interest, subject to these master netting agreements at September 30, 2023 and December 31, 2022 is presented in the following tables
($ in thousands) |  |  |  |  | Gross Amounts |  |  | Net Amounts |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |
Description |  | Gross Amounts Recognized |  |  | Offset in the Statement of Financial Condition |  |  | Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral |  |  | Net Amount |
As of September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative Assets |  | $ | 237,433 |  |  | $ | (109,904 | ) |  | $ | 127,529 |  |  | $ | 122,171 |  |  | $ | 129,773 |  |  | $ | 135,131 |
Derivative Liabilities |  | $ | 122,171 |  |  | $ | — |  |  | $ | 122,171 |  |  | $ | 122,171 |  |  | $ | — |  |  | $ | — |
($ in thousands) |  |  |  |  | Gross Amounts |  |  | Net Amounts |  |  | Gross Amounts Not Offset in the Statement of Financial Condition |
Description |  | Gross Amounts Recognized |  |  | Offset in the Statement of Financial Condition |  |  | Presented in the Statement of Financial Condition |  |  | Financial Instruments |  |  | Cash Collateral |  |  | Net Amount |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative Assets |  | $ | 223,072 |  |  | $ | (112,338 | ) |  | $ | 110,734 |  |  | $ | 32,601 |  |  | $ | 27,852 |  |  | $ | 105,985 |
Derivative Liabilities |  | $ | 116,395 |  |  | $ | (83,794 | ) |  | $ | 32,601 |  |  | $ | 32,601 |  |  | $ | — |  |  | $ | — |

X
- Definition Tabular disclosure of derivative assets and liabilities that are subject to offsetting, including master netting arrangements. + References No definition available. + Details
Name: | hwc_OffsettingDerivativeAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | hwc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfCashFlowHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration