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DERIVATIVES (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments, Gain (Loss)
The effect of derivative instruments in cash flow hedging relationships on the Consolidated Statements of Income for the three months ended March 31 were as follows:

Derivatives in Cash Flow Hedging RelationshipLocation of Gain or (Loss) Reclassified from AOCI into incomeGain (loss) reclassified in AOCI on DerivativesGain (loss) recognized in OCI on Derivatives
(Dollars in thousands)March 31, 2024March 31, 2023March 31, 2024March 31, 2023
Interest rate contractsInterest income/(expense)$(199)$0 $(336)$0 
Summary of Derivative Financial Instruments and Balances
The following table details the classification and amounts of interest rate derivatives, foreign exchange contracts and cash flow hedges recognized in the Consolidated Balance Sheets:
  
March 31, 2024December 31, 2023
 Estimated fair valueEstimated fair value
(Dollars in thousands)Notional
amount
Gain (1)
Loss (2)
Notional
amount
Gain (1)
Loss (2)
Derivatives not designated as qualifying hedging instruments
Interest rate derivatives - instruments associated with loans      
Matched interest rate contracts with borrowers$2,202,947 $8,012 $(123,248)$2,172,714 $13,232 $(104,343)
Matched interest rate contracts with counterparty2,202,947 123,058 (8,012)2,172,714 104,092 (13,232)
Foreign exchange contracts
Matched foreign exchange contracts with customers6,571,536 99,421 (63,075)7,021,569 84,731 (60,825)
Match foreign exchange contracts with counterparty6,526,793 63,075 (99,421)6,972,870 60,825 (84,731)
Total derivatives not designated as qualifying hedging instruments17,504,223 293,566 (293,756)18,339,867 262,880 (263,131)
Derivatives designated as qualifying hedging instruments
Cash flow hedges
Interest rate collars and floors1,000,000 1,565 (170)1,000,000 6,896 0 
Total derivatives designated as qualifying hedging instruments1,000,000 1,565 (170)1,000,000 6,896 0 
Total$18,504,223 $295,131 $(293,926)$19,339,867 $269,776 $(263,131)
(1) Derivative assets are included in Accrued interest and other assets in the Consolidated Balance Sheets.
(2) Derivative liabilities are included in Accrued interest and other liabilities in the Consolidated Balance Sheets.
Disclosure by Type of Financial Instrument
The following table discloses the gross and net amounts of interest rate derivatives, foreign exchange contracts and cash flow hedges recognized in the Consolidated Balance Sheets:
March 31, 2024December 31, 2023
(Dollars in thousands)Gross amounts of recognized assets (liabilities)Gross amounts offset in the Consolidated Balance SheetsNet amounts of assets/(liabilities) presented in the Consolidated Balance SheetsGross amounts of recognized assets (liabilities)Gross amounts offset in the Consolidated Balance SheetsNet amounts of assets/(liabilities) presented in the Consolidated Balance Sheets
Interest rate contracts (1)
$(131,070)$322,455 $191,385 $(117,324)$270,678 $153,354 
Foreign exchange contracts(162,496)62,169 (100,327)(145,556)55,959 (89,597)
Cash flow hedges1,735 97 1,832 6,896 (4,886)2,010 
Total$(291,831)$384,721 $92,890 $(255,984)$321,751 $65,767 
(1) Includes accrued interest receivable and collateral.
Derivative Financial Instruments, Average Remaining Maturity and the Weighted-Average Interest Rates being Paid and Received
The following table details the derivative financial instruments and the average remaining maturities at March 31, 2024:
(Dollars in thousands)Notional
amount		Average
maturity
(years)		Fair
value
Interest rate contracts   
Receive fixed, matched interest rate contracts with borrower$2,202,947 4.5$(115,236)
Pay fixed, matched interest rate contracts with counterparty2,202,947 4.5115,046 
Foreign exchange contracts
Foreign exchange contracts-pay USD6,571,536 0.636,346 
Foreign exchange contracts-receive USD6,526,793 0.6(36,346)
Total client derivatives17,504,223 1.6(190)
Cash flow hedges
Interest rate collars and floors on loan pools1,000,000 3.31,395 
Total cash flow hedges1,000,000 3.31,395 
Total$18,504,223 1.7$1,205