XML 50 R40.htm IDEA: XBRL DOCUMENT
v3.24.3

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Values of Derivative Instruments | The table below presents the fair value of derivative financial instruments as well as their location on the unaudited Consolidated Statements of Financial Condition as of September 30, 2024.
| Fair Values of Derivative Instruments
(Dollars in thousands) |  | Count |  | Notional |  | Balance Sheet Location |  | Derivatives (Fair Value)
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate swaps |  | 18 |  | $ | 1,500,000 |  |  | Other assets |  | $ | 32,323 |
Total |  |  |  | $ | 1,500,000 |  |  |  |  | $ | 32,323 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  | $ | 2,875,981 |  |  | Other assets |  | $ | 131,543 |
Interest rate swaps |  |  |  | 2,875,981 |  |  | Other liabilities |  | (131,543) |
Interest rate lock commitments with customers |  |  |  | 67,991 |  |  | Other assets |  | 1,071 |
Interest rate lock commitments with customers |  |  |  | 390 |  |  | Other liabilities |  | (2) |
Forward sale commitments |  |  |  | 14,548 |  |  | Other assets |  | 42 |
Forward sale commitments |  |  |  | 58,479 |  |  | Other liabilities |  | (258) |
FX forwards |  |  |  | 34,636 |  |  | Other assets |  | 1,360 |
FX forwards |  |  |  | 33,204 |  |  | Other liabilities |  | (1,217) |
Risk participation agreements sold |  |  |  | 102,449 |  |  | Other liabilities |  | (112) |
Risk participation agreements purchased |  |  |  | 89,053 |  |  | Other assets |  | 56 |
Financial derivatives related to sales of certain Visa Class B shares |  |  |  | 55,358 |  |  | Other liabilities |  | (8,173) |
Total derivatives |  |  |  | $ | 7,708,070 |  |  |  |  | $ | 25,090 |
The table below presents the fair value of derivative financial instruments as well as their location on the unaudited Consolidated Statements of Financial Condition as of December 31, 2023.
| Fair Values of Derivative Instruments
(Dollars in thousands) |  | Count |  | Notional |  | Balance Sheet Location |  | Derivatives (Fair Value)
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate swaps |  | 9 |  | $ | 750,000 |  |  | Other assets |  | $ | 15,578 |
Total |  |  |  | $ | 750,000 |  |  |  |  | $ | 15,578 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  | $ | 2,428,306 |  |  | Other assets |  | $ | 136,924 |
Interest rate swaps |  |  |  | 2,383,443 |  |  | Other liabilities |  | (136,924) |
Interest rate lock commitments with customers |  |  |  | 34,651 |  |  | Other assets |  | 637 |
Forward sale commitments |  |  |  | 1,000 |  |  | Other assets |  | 1 |
Forward sale commitments |  |  |  | 37,348 |  |  | Other liabilities |  | (283) |
FX forwards |  |  |  | 15,812 |  |  | Other assets |  | 429 |
FX forwards |  |  |  | 13,064 |  |  | Other liabilities |  | (409) |
Risk participation agreements sold |  |  |  | 103,648 |  |  | Other liabilities |  | (3) |
Risk participation agreements purchased |  |  |  | 116,804 |  |  | Other assets |  | 78 |
Financial derivatives related to sales of certain Visa Class B shares |  |  |  | 113,177 |  |  | Other liabilities |  | (14,023) |
Total derivatives |  |  |  | $ | 5,997,253 |  |  |  |  | $ | 2,005 |
Schedule of Effect of Derivative Instruments on the Income Statement | The table below presents the effect of the derivative financial instruments on the unaudited Consolidated Statements of Income for the three and nine months ended September 30, 2024 and September 30, 2023.
|  | Amount of Loss Recognized in OCI on Derivative (Effective Portion) |  | Amount of Loss Recognized in OCI on Derivative (Effective Portion) |  | Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
(Dollars in thousands) |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
Derivatives in Cash Flow Hedging Relationships |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Interest rate options |  | $ | 10,722 |  |  | $ | (1,608) |  |  | $ | 3,702 |  |  | $ | (2,752) |  |  | Interest income
Total |  | $ | 10,722 |  |  | $ | (1,608) |  |  | $ | 3,702 |  |  | $ | (2,752) |  |  |
|  | Amount of Gain (Loss) Recognized in Income |  | Amount of Gain (Loss) Recognized in Income |  | Location of Gain (Loss) Recognized in Income
(Dollars in thousands) |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
Derivatives not designated as hedging instruments |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Interest rate swaps and options |  | $ | 2,774 |  |  | $ | 3,427 |  |  | $ | 7,928 |  |  | $ | 7,397 |  |  | Other income
Interest rate lock commitments with customers |  | 143 |  |  | (171) |  |  | 399 |  |  | 116 |  |  | Mortgage banking activities, net
Forward sale commitments |  | (977) |  |  | 595 |  |  | (733) |  |  | $ | 660 |  |  | Mortgage banking activities, net
FX forwards |  | 91 |  |  | 97 |  |  | 370 |  |  | 126 |  |  | Other income
Risk participation agreements |  | (62) |  |  | (317) |  |  | (97) |  |  | (330) |  |  | Other income
Total |  | $ | 1,969 |  |  | $ | 3,631 |  |  | $ | 7,867 |  |  | $ | 7,969 |  |  |

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 of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
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