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DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss) [Table Text Block]

The effect of derivative instruments in cash flow hedging relationships on the Consolidated Statements of Income were as follows:

Derivatives in Cash Flow Hedging Relationship						Location of Gain or (Loss) Reclassified from AOCI into income						Gain (loss) reclassified in AOCI on Derivatives												Gain (loss) recognized in OCI on Derivatives
(Dollars in thousands)												December 31, 2024						December 31, 2023						December 31, 2024						December 31, 2023
Interest rate contracts						Interest income/(expense)						$	(795)					$	(237)					$	(1,176)					$	3,755

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:

												December 31, 2024																		December 31, 2023
																		Estimated fair value																		Estimated 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 (3)
Matched interest rate swaps with borrower												$	2,211,542					$	6,849					$	(95,341)					$	2,172,714					$	13,232					$	(104,343)
Matched interest rate swaps with counterparty												2,211,542						95,292						(6,849)						2,172,714						104,092						(13,232)
Foreign exchange contracts (4)
Matched foreign exchange contracts with customers												5,772,686						161,686						(132,732)						7,021,569						84,731						(60,825)
Matched foreign exchange contracts with counterparty												5,741,839						132,732						(161,686)						6,972,870						60,825						(84,731)
Commodity contracts(5)
Matched commodity with client												1,717						0						(158)						0						0						0
Matched commodity with counterparty												1,701						158						0						0						0						0
Total derivatives not designated as qualifying hedging instruments									15,941,027						396,717						(396,766)						18,339,867						262,880						(263,131)
Derivatives designated as qualifying hedging instruments
Cash flow hedges (6)
Interest rate collars and floors												1,000,000						387						(619)						1,000,000						6,896						0
Total derivatives designated as qualifying hedging instruments												1,000,000						387						(619)						1,000,000						6,896						0
Total												$	16,941,027					$	397,104					$	(397,385)					$	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.

(3) Changes in fair value are included in Client derivative fees in the Consolidated Statements of Income.

(4) Changes in fair value are included in Foreign exchange income in the Consolidated Statements of Income.

(5) Changes in fair value are included in Client derivative fees in the Consolidated Statements of Income.

(6) Changes in fair value are included in Accumulated comprehensive income in the Consolidated Balance sheets.

Disclosure by Type of Financial Instrument [Table Text Block]

The following table discloses the gross and net amounts of derivative contracts recognized in the Consolidated Balance Sheets:

						December 31, 2024																		December 31, 2023
(Dollars in thousands)						Gross amounts of recognized assets/ (liabilities)						Gross amounts offset in the Consolidated Balance Sheets						Net amounts of assets/(liabilities) presented in the Consolidated Balance Sheets						Gross amounts of recognized assets/ (liabilities)						Gross amounts offset in the Consolidated Balance Sheets						Net amounts of assets/(liabilities) presented in the Consolidated Balance Sheets
Interest rate contracts						$	(242,720)					$	102,141					$	(140,579)					$	(117,324)					$	270,678					$	153,354
Foreign exchange contracts						(294,418)						144,710						(149,708)						(145,556)						55,959						(89,597)
Commodity contracts						(158)						158						0						0						0						0
Cash flow hedges						1,917						(619)						1,298						6,896						(4,886)						2,010
Total						$	(535,379)					$	246,390					$	(288,989)					$	(255,984)					$	321,751					$	65,767

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 December 31, 2024:

(Dollars in thousands)						Notional amount						Average maturity (years)						Fair value
Interest rate contracts
Receive fixed, matched interest rate swaps with borrower						$	2,211,542					4.1						$	(88,492)
Pay fixed, matched interest rate swaps with counterparty						2,211,542						4.1						88,443
Foreign exchange contracts
Foreign exchange contracts - pay USD						5,772,686						0.7						28,954
Foreign exchange contracts - receive USD						5,741,839						0.7						(28,954)
Commodities contracts
Client commodity contracts						1,717						0.3						(158)
Counterparty commodity contracts						1,701						0.3						158
Total client derivatives						15,941,027						1.6						(49)
Cash flow hedges
Interest rate collars and floors on loan pools						1,000,000						2.5						(232)
Total cash flow hedges						1,000,000						2.5						(232)
Total						$	16,941,027					1.7						$	(281)

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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.

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