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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2020	Apr. 27, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	1-6887
Entity Registrant Name	BANK OF HAWAII CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	99-0148992
Entity Address, Address Line One	130 Merchant Street
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	888
Local Phone Number	643-3888
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		40,010,741
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000046195
Current Fiscal Year End Date	--12-31
Amendment Flag	false
NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	BOH
Security Exchange Name	NYSE

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Interest Income
Interest and Fees on Loans and Leases	$ 108,210	$ 108,511
Income on Investment Securities
Available-for-Sale	16,711	13,432
Held-to-Maturity	19,252	21,921
Deposits	9	15
Funds Sold	546	1,444
Other	218	319
Total Interest Income	144,946	145,642
Interest Expense
Deposits	14,260	15,284
Securities Sold Under Agreements to Repurchase	4,025	4,571
Funds Purchased	72	157
Short-Term Borrowings	39	36
Other Debt	584	757
Total Interest Expense	18,980	20,805
Net Interest Income	125,966	124,837
Provision for Credit Losses	33,600	3,000
Net Interest Income After Provision for Credit Losses	92,366	121,837
Noninterest Income
Trust and Asset Management	10,915	10,761
Mortgage Banking	2,695	2,287
Service Charges on Deposit Accounts	7,451	7,364
Fees, Exchange, and Other Service Charges	13,200	14,208
Investment Securities Gains (Losses), Net	(970)	(835)
Annuity and Insurance	928	2,578
Bank-Owned Life Insurance	1,580	1,710
Other	10,350	5,606
Total Noninterest Income	46,149	43,679
Noninterest Expense
Salaries and Benefits	54,463	56,586
Net Occupancy	8,955	7,594
Net Equipment	8,456	6,833
Data Processing	4,788	4,526
Professional Fees	3,208	2,453
FDIC Insurance	1,456	1,269
Other	14,986	13,796
Total Noninterest Expense	96,312	93,057
Income Before Provision for Income Taxes	42,203	72,459
Provision for Income Taxes	7,461	13,660
Net Income	$ 34,742	$ 58,799
Basic Earnings Per Share (in dollars per share)	$ 0.88	$ 1.44
Diluted Earnings Per Share (in dollars per share)	0.87	1.43
Dividends Declared Per Share (in dollars per share)	$ 0.67	$ 0.62
Basic Weighted Average Shares (in shares)	39,681,611	40,938,318
Diluted Weighted Average Shares (in shares)	39,916,986	41,213,453

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ 34,742	$ 58,799
Other Comprehensive Income (Loss), Net of Tax:
Net Unrealized Gains (Losses) on Investment Securities	41,559	6,919
Defined Benefit Plans	374	246
Total Other Comprehensive Income (Loss)	41,933	7,165
Comprehensive Income	$ 76,675	$ 65,964

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Condition (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Interest-Bearing Deposits in Other Banks	$ 6,346	$ 4,979
Funds Sold	96,898	254,574
Investment Securities
Available-for-Sale	2,681,049	2,619,003
Held-to-Maturity (Fair Value of $3,104,020 and $3,602,882)	3,004,139	3,042,294
Loans Held for Sale	20,789	39,062
Loans and Leases	11,352,780	10,990,892
Allowance for Credit Losses	(138,150)	(110,027)
Net Loans and Leases	11,214,630	10,880,865
Total Earning Assets	17,023,851	16,840,777
Cash and Due From Banks	453,465	299,105
Premises and Equipment, Net	196,228	188,388
Operating lease right-of-use assets	98,695	100,838
Accrued Interest Receivable	46,996	46,476
Foreclosed Real Estate	2,506	2,737
Mortgage Servicing Rights	22,537	25,022
Goodwill	31,517	31,517
Bank-Owned Life Insurance	289,536	287,962
Other Assets	376,902	272,674
Total Assets	18,542,233	18,095,496
Deposits
Noninterest-Bearing Demand	4,378,918	4,489,525
Interest-Bearing Demand	3,261,101	3,127,205
Savings	6,670,530	6,365,321
Time	1,744,812	1,802,431
Total Deposits	16,055,361	15,784,482
Funds Purchased	75,000	0
Short-Term Borrowings	75,000	0
Securities Sold Under Agreements to Repurchase	603,206	604,306
Other Debt	60,545	85,565
Operating lease liabilities	106,180	108,210
Retirement Benefits Payable	44,124	44,504
Accrued Interest Payable	7,932	8,040
Taxes Payable and Deferred Taxes	32,793	16,085
Other Liabilities	154,163	157,472
Total Liabilities	17,214,304	16,808,664
Shareholders’ Equity
Common Stock ($.01 par value; authorized 500,000,000 shares; issued / outstanding: March 31, 2020 - 58,251,725 / 39,996,510 December 31, 2019 - 58,166,910 / 40,039,695; and March 31, 2019 - 58,166,535 / 41,078,688)	579	579
Capital Surplus	584,392	582,566
Accumulated Other Comprehensive Income (Loss)	10,821	(31,112)
Retained Earnings	1,773,607	1,761,415
Treasury Stock, at Cost (Shares; March 31, 2020 - 18,255,215 December 31, 2019 - 18,127,215; and March 31, 2019 - 17,087,847)	(1,041,470)	(1,026,616)
Total Shareholders’ Equity	1,327,929	1,286,832
Total Liabilities and Shareholders’ Equity	$ 18,542,233	$ 18,095,496

Consolidated Statements of Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Held-to-Maturity: Fair Value	$ 3,104,020	$ 3,062,882
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, authorized (in shares)	500,000,000	500,000,000
Common Stock, issued (in shares)	58,251,725	58,166,910
Common Stock, outstanding (in shares)	39,996,510	40,039,695
Treasury Stock (in shares)	18,255,215	18,127,215

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Capital Surplus	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock
Balance at Beginning of Period at Dec. 31, 2018	$ 1,268,200	$ 577	$ 571,704	$ (51,043)	$ 1,641,314	$ (894,352)
Beginning Balance (in shares) at Dec. 31, 2018		41,499,898
Increase (decrease) in shareholders' equity
Net Income	58,799				58,799
Other Comprehensive Income	7,165			7,165
Share-Based Compensation	2,274		2,274
Common Stock Issued under Purchase and Equity Compensation Plans	2,087	$ 1	616		(203)	1,673
Common Stock Issued under Purchase and Equity Compensation Plans and Related Tax Benefits (in shares)		131,529
Common Stock Repurchased	(43,189)					(43,189)
Common Stock Repurchased (in shares)		(552,739)
Cash Dividends Declared (per share)	(25,646)				(25,646)
Balance at End of Period at Mar. 31, 2019	1,269,690	$ 578	574,594	(43,878)	1,674,264	(935,868)
Ending Balance (in shares) at Mar. 31, 2019		41,078,688
Balance at Beginning of Period at Dec. 31, 2019	$ 1,286,832	$ 579	582,566	(31,112)	1,761,415	(1,026,616)
Beginning Balance (in shares) at Dec. 31, 2019	40,039,695	40,039,695
Increase (decrease) in shareholders' equity
Net Income	$ 34,742				34,742
Other Comprehensive Income	41,933			41,933
Share-Based Compensation	1,497		1,497
Common Stock Issued under Purchase and Equity Compensation Plans	3,761	$ 0	329		653	2,779
Common Stock Issued under Purchase and Equity Compensation Plans and Related Tax Benefits (in shares)		154,091
Common Stock Repurchased	(17,633)					(17,633)
Common Stock Repurchased (in shares)		(197,276)
Cash Dividends Declared (per share)	(26,835)				(26,835)
Balance at End of Period at Mar. 31, 2020	$ 1,327,929	$ 579	$ 584,392	$ 10,821	$ 1,773,607	$ (1,041,470)
Ending Balance (in shares) at Mar. 31, 2020	39,996,510	39,996,510

Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends Declared Per Share (in dollars per share)	$ 0.67	$ 0.62

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Activities
Net Income	$ 34,742	$ 58,799
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Provision for Credit Losses	33,600	3,000
Depreciation and Amortization	4,767	3,996
Amortization of Deferred Loan and Lease Fees	462	(381)
Amortization and Accretion of Premiums/Discounts on Investment Securities, Net	5,164	5,290
Amortization of Operating Lease Right-of-Use Assets	3,114	3,185
Share-Based Compensation	1,497	2,274
Benefit Plan Contributions	(403)	(372)
Deferred Income Taxes	(6,942)	(2,363)
Gains on Sale of Premises and Equipment	0	(558)
Net Gains on Sales of Loans and Leases	(1,956)	(1,065)
Net Losses (Gains) on Sales of Investment Securities	970	835
Proceeds from Sales of Loans Held for Sale	129,913	56,453
Originations of Loans Held for Sale	(110,415)	(63,014)
Net Tax Benefits from Share-Based Compensation	524	530
Net Change in Other Assets and Other Liabilities	(99,892)	(49,491)
Net Cash Provided by (Used in) Operating Activities	(4,855)	17,118
Investment Securities Available-for-Sale:
Proceeds from Sales, Prepayments and Maturities	230,435	495,824
Purchases	(238,997)	(341,234)
Investment Securities Held-to-Maturity:
Proceeds from Prepayments and Maturities	236,134	177,841
Purchases	(201,130)	(367,178)
Net Change in Loans and Leases	(364,878)	(104,120)
Purchases of Premises and Equipment	12,607	11,583
Proceeds from Sale of Premises and Equipment	0	639
Net Cash Used in Investing Activities	(351,043)	(149,811)
Financing Activities
Net Change in Deposits	270,879	240,068
Net Change in Short-Term Borrowings	148,900	(196)
Repayments of Long-Term Debt	(25,020)	(25,019)
Proceeds from Issuance of Common Stock	3,658	1,994
Repurchase of Common Stock	(17,633)	(43,189)
Cash Dividends Paid	(26,835)	(25,646)
Net Cash Provided by Financing Activities	353,949	148,012
Net Change in Cash and Cash Equivalents	(1,949)	15,319
Cash and Cash Equivalents at Beginning of Period	558,658	525,969
Cash and Cash Equivalents at End of Period	556,709	541,288
Supplemental Information
Cash Paid for Interest	19,088	20,583
Cash Paid for Income Taxes	3,459	2,764
Non-Cash Investing and Financing Activities:
Initial Recognition of Operating Lease Right-of-Use Assets	98,695
Initial Recognition of Operating Lease Liabilities	106,180
Transfer from Loans to Foreclosed Real Estate	$ 0	$ 1,869

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

Bank of Hawaii Corporation (the “Parent”) is a Delaware corporation and a bank holding company headquartered in Honolulu, Hawaii. Bank of Hawaii Corporation and its subsidiaries (collectively, the “Company”) provide a broad range of financial products and services to customers in Hawaii, Guam, and other Pacific Islands. The accompanying consolidated financial statements include the accounts of the Parent and its subsidiaries. The Parent’s principal operating subsidiary is Bank of Hawaii (the “Bank”).

The consolidated financial statements in this report have not been audited by an independent registered public accounting firm, but, in the opinion of management, reflect all adjustments necessary for a fair presentation of the results for the interim periods. All such adjustments are of a normal recurring nature. Intercompany accounts and transactions have been eliminated in consolidation. Certain prior period information has been reclassified to conform to the current period presentation. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for the full fiscal year or for any future period.

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and accompanying notes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results may differ from those estimates and such differences could be material to the financial statements.

Variable Interest Entities

Variable interests are defined as contractual ownership or other interests in an entity that change with fluctuations in an entity’s net asset value. The primary beneficiary consolidates the variable interest entity (“VIE”). The primary beneficiary is defined as the enterprise that has both (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses or the right to receive benefits that could be significant to the VIE.

The Company participates in limited partnerships or limited liability companies that sponsor low-income housing projects. These entities provide funds for the construction and operation of apartment complexes that provide affordable housing to lower-income households. If these developments successfully attract a specified percentage of residents falling in that lower-income range, state and/or federal income tax credits are made available to the partners. The tax credits are generally recognized over 10 years for federal and 5 years for state. In order to continue receiving the tax credits each year over the life of the entity, the low-income residency targets must be maintained.

Prior to January 1, 2015, the Company utilized the effective yield method whereby the Company recognized tax credits generally over 10 years and amortized the initial cost of the investment to provide a constant effective yield over the period that tax credits are allocated to the Company. On January 1, 2015, the Company adopted ASU No. 2014-01, “Accounting for Investments in Qualified Affordable Housing Projects” prospectively for new investments. ASU No. 2014-01 permits reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. As permitted by ASU No. 2014-01, the Company elected to continue to utilize the effective yield method for investments made prior to January 1, 2015.

Unfunded commitments to fund these low-income housing entities were $32.7 million and $21.3 million as of March 31, 2020, and December 31, 2019, respectively. These unfunded commitments are unconditional and legally binding and are recorded in other liabilities in the consolidated statements of condition. See Note 6 Affordable Housing Projects Tax Credit Partnerships for more information.

The Company also has limited partnership interests in solar energy tax credit partnership investments. These partnerships develop, build, own and operate solar renewable energy projects. Over the course of these investments, the Company expects to receive federal and state tax credits, tax-related benefits, and excess cash available for distribution, if any. The Company may be called to sell its interest in the limited partnerships through a call option once all investment tax credits have been recognized. Tax benefits associated with these investments are generally recognized over 6 years.

Although these entities meet the definition of a VIE, the Company is not the primary beneficiary of the entities, as the general partner has both the power to direct the activities that most significantly impact the economic performance of the entities and the obligation to absorb losses or the right to receive benefits that could be significant to the entities. While the partnership agreements allow the limited partners, through a majority vote, to remove the general partner, this right is not deemed to be substantive as the general partner can only be removed for cause.

The investments in these entities are initially recorded at cost, which approximates the maximum exposure to loss as a result of the Company’s involvement with these unconsolidated entities. The balance of the Company’s investments in these entities was $100.5 million and $84.6 million as of March 31, 2020, and December 31, 2019, respectively, and is included in other assets in the consolidated statements of condition.

Allowance for Credit Losses - Loans and Leases

The current expected credit loss (“CECL”) approach requires an estimate of the credit losses expected over the life of an exposure (or pool of exposures). It replaces the incurred loss approach’s threshold that delayed the recognition of a credit loss until it was probable a loss event was incurred.

The estimate of expected credit losses is based on relevant information about past events, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. Historical loss experience is generally the starting point for estimating expected credit losses. The Company then considers whether the historical loss experience should be adjusted for asset-specific risk characteristics or current conditions at the reporting date that did not exist over the historical period used. The Company considers future economic conditions and portfolio performance as part of a reasonable and supportable forecast period.

Portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses (“ACL”). The Company has designated two portfolio segments of loans and leases, commercial and consumer. These portfolio segments are further disaggregated into classes, which represent loans and leases of similar type, risk characteristics, and methods for monitoring and assessing credit risk. The commercial portfolio segment is disaggregated into four classes, commercial and industrial, commercial mortgage, construction, and lease financing. The consumer portfolio segment is also disaggregated into four classes, residential mortgage, home equity, auto, and other (which is comprised of revolving credit, installment, and consumer lease financing arrangements). Each commercial and consumer portfolio class is also segmented based on risk characteristics.

Commercial portfolio segment

The historical loss experience for the commercial portfolio segment is primarily determined using a Cohort method. This method pools loans into groups (“cohorts”) sharing similar risk characteristics and tracks each cohort’s historical net charge-offs to calculate a historical loss rate. The historical loss rates for each cohort are then averaged to calculate an overall historical loss rate which is applied to current loan balances to arrive at the quantitative baseline portion of the ACL for most of the commercial portfolio segment.

The Company also considers qualitative adjustments to the quantitative baseline. For example, the Company considers the impact of current environmental factors at the reporting date that did not exist over the period from which historical experience was used. Relevant factors include, but are not limited to, concentrations of credit risk (geographic, large borrower, and industry), economic trends and conditions, changes in underwriting standards, experience and depth of lending staff, trends in delinquencies, and the level of criticized loans.

The Company also incorporates a one-year reasonable and supportable (“R&S”) loss forecast period to account for the effect of forecasted economic conditions and other factors on the performance of the commercial portfolio, which could differ from historical loss experience. The Company performs a quarterly asset quality review which includes a review of forecasted gross charge-offs and recoveries, nonperforming assets, criticized loans and leases, and risk rating migration. The asset quality review is reviewed by management and the results are used to consider a qualitative overlay to the quantitative baseline. After the one-year R&S loss forecast period, this overlay adjustment assumes an immediate reversion to historical loss rates for the remaining loan life period.

The Company establishes a specific reserve for individually evaluated loans which do not share similar risk characteristics with the loans included in the quantitative baseline. These individually evaluated loans are removed from the pooling approach discussed above for the quantitative baseline, and include non-accrual loans, troubled debt restructurings (“TDRs”), and other loans as deemed appropriate by management. In addition, the Company individually evaluates “reasonably expected” TDRs, which are identified by the Company as a commercial loan expected to be classified as a TDR within the next six months. Management judgment is utilized to make this determination.

Consumer portfolio segment

The historical loss experience for the consumer portfolio segment is primarily determined using a Vintage method. This method measures historical loss behavior in the form of a historical loss rate for homogenous loan pools that originate in the same period, known as a vintage. The historical loss rates are then applied to origination loan balances by vintage to determine the quantitative baseline portion of the ACL for most of the consumer portfolio segment. The homogenous loan pools are segmented according to similar risk characteristics (e.g., residential mortgage, home equity) and may be sub-segmented further (e.g., geography, lien position) depending on the product.

After determining the ACL quantitative baseline, the Company also considers qualitative adjustments to the quantitative baseline. For example, the Company considers the impact of current environmental factors at the reporting date that did not exist over the period from which historical experience was used. The environmental factors considered for the consumer portfolio are similar to the aforementioned factors considered for the commercial portfolio.

The Company also incorporates a one-year R&S loss forecast period to account for forecasted economic conditions and other factors on the performance of the consumer portfolio which could differ from historical loss experience. The Company performs a quarterly asset quality review designed to estimate gross charge-offs and recoveries for the forecast period. Management evaluates additional factors that may not be reflected in the net charge-off forecast to determine whether a qualitative overlay adjustment is warranted.

As of January 1, 2020, implementation date, and following the one-year R&S loss forecast period, the Company chose a reversion back to average historical loss rates using a straight line method based on forecasted and relatively benign economic conditions at the measurement date, with the exception of the home equity portfolio. For the home equity portfolio, the Company elected to revert back to average historical loss rates using a straight line method over the halfway point of the average life of the portfolio. The halfway point is used for the home equity portfolio given the longer average life length compared to the other consumer portfolios.

As of March 31, 2020, following the one-year R&S loss forecast period, the Company chose an immediate reversion back to average historical loss rates. The change in reversion method was due to the impact of COVID-19 which created a much more volatile and uncertain economic outlook. The Company is forecasting that losses will be lower than historical rates during the R&S loss forecast period due to the impact of unprecedented fiscal, monetary and regulatory programs to support the economy, as well as the assistance the Company is providing to borrowers through its various credit assistance programs. Given this forecast and the uncertainty of the impact of COVID-19 after the one-year R&S loss forecast period, the Company determined that a change to immediate reversion was appropriate for this measurement date.

The Company establishes a specific reserve for individually evaluated loans that do not share similar risk characteristics with the loans included in the quantitative baseline. These individually evaluated loans include “reasonably expected” TDRs, identified by the Company as a consumer loan for which a borrower’s application of loan modification due to hardship has been approved by the Company.

See Note 4 Loans and Leases and the Allowance for Credit Losses for more information.

Allowance for Credit Losses - Held-to-Maturity (“HTM”) Debt Securities

The Company’s HTM debt securities are also required to utilize the CECL approach to estimate expected credit losses. Substantially all of the Company’s HTM debt securities are issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Therefore, the Company did not record an allowance for credit losses for these securities.

The Company also carries a limited portfolio of HTM municipal bonds. As of March 31, 2020, the entire portfolio consisted of State of Hawaii bonds carrying a Moody’s rating of Aa1, with a portion of these bonds escrowed to maturity. To estimate the expected credit losses, the Company utilized the probability of default (“PD”)/loss given default (“LGD”) methodology. The PD, which represents the percentage likelihood that a bond will default over a given time period, is primarily based upon the bond’s current credit rating and maturity and computed using Moody’s rating transition matrix, which provides the probability of a rating migrating to default within a one-year period (adjustments are made for longer maturities). The LGD, which represents the percentage of loss if a default occurs, is based on the median recovery rate for municipals according to Moody’s. The Company’s exposure at default, represented by the carrying value of the municipal bond portfolio, is multiplied with the PD and the LGD to arrive at the expected credit loss. Management may exercise discretion to make adjustments based on environmental factors. As of March 31, 2020, the Company determined that the expected credit loss on its municipal bond portfolio was de minimis, and therefore, an allowance for credit losses was not recorded. See Note 3 Investment Securities for more information.

Allowance for Credit Losses - Available-for-Sale (“AFS”) Debt Securities

The impairment model for available-for-sale (“AFS”) debt securities differs from the CECL approach utilized by HTM debt securities because AFS debt securities are measured at fair value rather than amortized cost. Although ASU No. 2016-13 replaced the legacy other-than-temporary impairment (“OTTI”) model with a credit loss model, it retained the fundamental nature of the legacy OTTI model. One notable change from the legacy OTTI model is when evaluating whether credit loss exists, an entity may no longer consider the length of time fair value has been less than amortized cost. For AFS debt securities in an unrealized loss position, the Company first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria is met, the security’s amortized cost basis is written down to fair value through income. For AFS debt securities that do not meet the aforementioned criteria, the Company evaluates whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, management considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other comprehensive income. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit losses. Losses are charged against the allowance when management believes the uncollectibility of an AFS security is confirmed or when either of the criteria regarding intent or requirement to sell is met. As of March 31, 2020, the Company determined that the unrealized loss positions in AFS securities were not the result of credit losses, and therefore, an allowance for credit losses was not recorded. See Note 3 Investment Securities for more information.

Accrued Interest Receivable

Upon adoption of ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” and its related amendments on January 1, 2020, the Company made the following elections regarding accrued interest receivable:


•	Presenting accrued interest receivable balances separately within another statements of position line item.


•	Excluding accrued interest receivable that is included in the amortized cost of financing receivables from related disclosure requirements.

•

Continuing our policy to write off accrued interest receivable by reversing interest income. For commercial loans, the write off typically occurs upon becoming 90 days past due. For consumer loans, the write off typically occurs upon becoming 120 days past due. Historically, the Company has not experienced uncollectible accrued interest receivable on its investment securities. However, the Company would generally write off accrued interest receivable by reversing interest income if the Company does not reasonably expect to receive payments. Due to the timely manner in which accrued interest receivables are written off, the amounts of such write offs are immaterial.


•	Not measuring an allowance for credit losses for accrued interest receivable due to the Company’s policy of writing off uncollectible accrued interest receivable balances in a timely manner, as described above.

Collateral-Dependent Loans

A financial asset is considered collateral-dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. For all classes of loans and leases deemed collateral-dependent, the Company elected the practical expedient to estimate expected credit losses based on the collateral’s fair value less cost to sell. In most cases, the Company records a partial charge-off to reduce the loan’s carrying value to the collateral’s fair value less cost to sell. Substantially all of the collateral consists of various types of real estate including residential properties; commercial properties such as retail centers, office buildings, and lodging; agriculture land; and vacant land.

Reserve for Unfunded Commitments

The reserve for unfunded commitments (the “Unfunded Reserve”) represents the expected credit losses on off-balance sheet commitments such as unfunded commitments to extend credit and standby letters of credit. However, a liability is not recognized for commitments unconditionally cancellable by the Company. The Unfunded Reserve is recognized as a liability (other liabilities in the consolidated statements of condition), with adjustments to the reserve recognized in other noninterest expense in the consolidated statements of income. The Unfunded Reserve is determined by estimating future draws and applying the expected loss rates on those draws. Future draws are based on historical averages of utilization rates (i.e., the likelihood of draws taken). To estimate future draws on unfunded balances, current utilization rates are compared to historical utilization rates. If current utilization rates are below historical utilization rates, the rate difference is applied to the committed balance to estimate the future draw. Loss rates are estimated by utilizing the same loss rates calculated for the Allowance general reserves. For the commercial portfolio, the historical loss rates were calculated utilizing the Cohort methodology, while the consumer portfolio utilized the Vintage methodology.

Operating, Accounting and Reporting Considerations related to COVID-19

The COVID-19 pandemic has negatively impacted the global economy, including Hawaii and the Pacific Islands. In response to this crisis, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was passed by Congress and signed into law on March 27, 2020. The CARES Act provides an estimated $2.2 trillion to fight the COVID-19 pandemic and stimulate the economy by supporting individuals and businesses through loans, grants, tax changes, and other types of relief. Some of the provisions applicable to the Company include, but are not limited to:


•	Accounting for Loan Modifications - The CARES Act provides that a financial institution may elect to suspend (1) the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR and (2) any determination that such loan modifications would be considered a TDR, including the related impairment for accounting purposes.


•	Pay Protection Program - The CARES Act established the Paycheck Protection Program (“PPP”), an expansion of the Small Business Administration’s 7(a) loan program and the Economic Injury Disaster Loan Program (“EIDL”), administered directly by the SBA.

•

Mortgage Forbearance - Under the CARES Act, through the earlier of December 31, 2020, or the termination date of the COVID-19 national emergency, a borrower with a federally backed mortgage loan that is experiencing financial hardship due to COVID-19 may request a forbearance. A multifamily borrower with a federally backed multifamily mortgage loan that was current as of February 1, 2020, and is experiencing financial hardship due to COVID-19 may request forbearance on the loan for up to 30 days, with up to two additional 30-day periods at the borrower’s request.

Also in response to the COVID-19 pandemic, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the National Credit Union Administration (“NCUA”), the Office of the Comptroller of the Currency (“OCC”), and the Consumer Financial Protection Bureau (“CFPB”), in consultation with the state financial regulators (collectively, the “agencies”) issued a joint interagency statement (issued March 22, 2020; revised statement issued April 7, 2020). Some of the provisions applicable to the Company include, but are not limited to:

•

Accounting for Loan Modifications - Loan modifications that do not meet the conditions of the CARES Act may still qualify as a modification that does not need to be accounted for as a TDR. The agencies confirmed with FASB staff that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short-term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payment.

•

Past Due Reporting - With regard to loans not otherwise reportable as past due, financial institutions are not expected to designate loans with deferrals granted due to COVID-19 as past due because of the deferral. A loan’s payment date is governed by the due date stipulated in the legal agreement. If a financial institution agrees to a payment deferral, these loans would not be considered past due during the period of the deferral.


•	Nonaccrual Status and Charge-offs - During short-term COVID-19 modifications, these loans generally should not be reported as nonaccrual or as classified.

Accounting Standards Adopted in 2020

In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments.” This ASU significantly changes how entities measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard replaces the “incurred loss” approach with an “expected loss” approach known as current expected credit loss (“CECL”). CECL applies to: (1) financial assets measured at amortized cost, and (2) certain off-balance sheet credit exposures. This includes, but is not limited to, loans, leases, held-to-maturity securities, loan commitments, and financial guarantees. The CECL approach does not apply to AFS debt securities. For AFS debt securities with unrealized losses, entities measure credit losses in a similar manner to legacy GAAP except that the credit losses are now recognized as allowances rather than reductions in the amortized cost of the securities. As a result, entities will recognize improvements to estimated credit losses immediately in earnings rather than as interest income over time. ASU No. 2016-13 also changes the accounting for purchased credit-impaired debt securities and loans. ASU 2016-13 expanded or revised the disclosure requirements related to loans and debt securities. In addition, entities are required to disclose the amortized cost balance for each class of financial asset by credit quality indicator, disaggregated by the year of origination. ASU No. 2016-13 was effective for interim and annual reporting periods beginning after December 15, 2019.

The Company adopted the standard on January 1, 2020, and applied the standard’s provisions as a cumulative-effect adjustment to retained earnings, as of January 1, 2020 (i.e., modified retrospective approach). Upon adoption of the standard, the Company recorded a $5.1 million decrease to the reserve for credit losses, which resulted in a $3.6 million after-tax increase to retained earnings as of January 1, 2020. The tax effect resulted in an increase to deferred tax liabilities. This “Day 1” impact of CECL adoption is summarized below:



(dollars in thousands)	December 31, 2019		CECL Adoption Impact			January 1, 2020
Allowance for Credit Losses:
Commercial	$	73,801	$	(18,789	)	$	55,012
Consumer	36,226		17,052			53,278
Total Allowance for Credit Losses	110,027		(1,737		)	108,290
Reserve for Unfunded Commitments	6,822		(3,335		)	3,487
Total Reserve for Credit Losses	$	116,849	$	(5,072	)	$	111,777

Retained Earnings
Total Pre-tax Impact			$	5,072
Tax Effect			(1,440		)
Increase to Retained Earnings			$	3,632

The Company did not record an allowance for AFS or HTM securities on Day 1 as the investment portfolio consists primarily of debt securities explicitly or implicitly backed by the U.S. Government for which credit risk is deemed minimal. The impact going forward will depend on the composition, characteristics, and credit quality of the loan and securities portfolios as well as the economic conditions at future reporting periods. See Note 3 Investment Securities and Note 4 Loans and Leases and the Allowance for Credit Losses for more information.

In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement.” This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU No. 2018-13 was effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. As ASU No. 2018-13 only revises disclosure requirements, it did not have a material impact on the Company’s Consolidated Financial Statements.

In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments.” With respect to Topic 326, ASU 2019-04 clarifies the scope of the credit losses standard and addresses issues related to accrued interest receivable balances, recoveries, variable interest rates and prepayments, among other things. The Company made the accounting policy elections not to measure an allowance for credit losses on accrued interest receivable, to write-off accrued interest amounts by reversing interest income, and to present accrued interest receivable separately from the related financial asset on the statements of financial condition. The amendments to Topic 326 were adopted concurrently with ASU 2016-13 on January 1, 2020. The financial statement impact in regards to the amendments to Topic 326 are incorporated within ASU 2016-13 mentioned above. With respect to Topic 825, on recognizing and measuring financial instruments, ASU 2019-04 addresses the scope of the guidance, the requirement for remeasurement under ASC 820 when using the measurement alternative, certain disclosure requirements and which equity securities have to be remeasured at historical exchange rates. The amendments to Topic 825 were effective for interim and annual reporting periods beginning after December 15, 2019, and did not have a material impact on the Company’s Consolidated Financial Statements. The Company elected to early adopt the amendments to Topic 815 in June 2019. See Note 1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, for more information.

In May 2019, the FASB issued ASU No. 2019-05, “Financial Instruments - Credit Losses (Topic 326); Targeted Transition Relief.” This ASU allows entities to irrevocably elect, upon adoption of ASU 2016-13, the fair value option on financial instruments that (1) were previously recorded at amortized cost and (2) are within the scope of ASC 326-20 if the instruments are eligible for the fair value option under ASC 825-10. The fair value option election does not apply to HTM debt securities. Entities are required to make this election on an instrument-by-instrument basis. ASU 2019-05 was adopted concurrently with ASU 2016-13 on January 1, 2020. The Company did not elect the fair value option, and therefore, ASU 2019-05 did not impact the Company’s Consolidated Financial Statements.

In November 2019, the FASB issued ASU No. 2019-11, “Codification Improvements to Topic 326, Financial Instruments - Credit Losses.” This ASU requires entities to include certain expected recoveries of the amortized cost basis previously written off, or expected to be written off, in the allowance for credit losses for purchased credit-deteriorated (“PCD”) financial assets. It also provides transition relief related to TDRs, allows entities to exclude accrued interest amounts from certain required disclosures and clarifies the requirements for applying the collateral maintenance practical expedient. ASU 2019-11 was adopted concurrently with ASU 2016-13 on January 1, 2020, and did not have a material impact to the Company’s Consolidated Financial Statements.

Cash and Cash Equivalents

3 Months Ended

Mar. 31, 2020

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents

The following table provides a reconciliation of cash and cash equivalents reported within the consolidated statements of condition that sum to the total of the same such amounts shown in the consolidated statements of cash flows:



(dollars in thousands)	March 31, 2020		December 31, 2019
Interest-Bearing Deposits in Other Banks	$	6,346	$	4,979
Funds Sold	96,898		254,574
Cash and Due From Banks	453,465		299,105
Total Cash and Cash Equivalents	$	556,709	$	558,658

Investment Securities

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Investment Securities

The amortized cost, gross unrealized gains and losses, and fair value of the Company’s investment securities as of March 31, 2020, and December 31, 2019, were as follows:



(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2020
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	202,065	$	262	$	(1,238	)	$	201,089
Debt Securities Issued by States and Political Subdivisions	53,981		1,043		(1		)	55,023
Debt Securities Issued by U.S. Government-Sponsored Enterprises	936		76		—			1,012
Debt Securities Issued by Corporations	274,353		1,969		(5,146		)	271,176
Mortgage-Backed Securities:
Residential - Government Agencies	1,159,266		41,360		(1,412		)	1,199,214
Residential - U.S. Government-Sponsored Enterprises	635,161		26,178		(166		)	661,173
Commercial - Government Agencies	287,441		5,790		(869		)	292,362
Total Mortgage-Backed Securities	2,081,868		73,328		(2,447		)	2,152,749
Total	$	2,613,203	$	76,678	$	(8,832	)	$	2,681,049
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	214,612	$	2,111	$	—		$	216,723
Debt Securities Issued by States and Political Subdivisions	54,543		1,017		—			55,560
Debt Securities Issued by Corporations	14,243		104		—			14,347
Mortgage-Backed Securities:
Residential - Government Agencies	994,405		38,678		(36		)	1,033,047
Residential - U.S. Government-Sponsored Enterprises	1,648,144		57,554		—			1,705,698
Commercial - Government Agencies	78,192		763		(310		)	78,645
Total Mortgage-Backed Securities	2,720,741		96,995		(346		)	2,817,390
Total	$	3,004,139	$	100,227	$	(346	)	$	3,104,020

December 31, 2019
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	222,365	$	213	$	(1,447	)	$	221,131
Debt Securities Issued by States and Political Subdivisions	54,480		631		(14		)	55,097
Debt Securities Issued by U.S. Government-Sponsored Enterprises	22,128		19		—			22,147
Debt Securities Issued by Corporations	335,553		1,401		(633		)	336,321
Mortgage-Backed Securities:
Residential - Government Agencies	1,164,466		11,627		(3,267		)	1,172,826
Residential - U.S. Government-Sponsored Enterprises	584,272		4,363		(1,874		)	586,761
Commercial - Government Agencies	224,372		2,889		(2,541		)	224,720
Total Mortgage-Backed Securities	1,973,110		18,879		(7,682		)	1,984,307
Total	$	2,607,636	$	21,143	$	(9,776	)	$	2,619,003
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	274,375	$	1,319	$	(31	)	$	275,663
Debt Securities Issued by States and Political Subdivisions	54,811		1,236		—			56,047
Debt Securities Issued by Corporations	14,975		—		(138		)	14,837
Mortgage-Backed Securities:
Residential - Government Agencies	1,067,416		13,247		(5,348		)	1,075,315
Residential - U.S. Government-Sponsored Enterprises	1,546,479		13,871		(2,478		)	1,557,872
Commercial - Government Agencies	84,238		317		(1,407		)	83,148
Total Mortgage-Backed Securities	2,698,133		27,435		(9,233		)	2,716,335
Total	$	3,042,294	$	29,990	$	(9,402	)	$	3,062,882

The Company elected to exclude accrued interest receivable (“AIR”) from the amortized cost basis of debt securities disclosed throughout this footnote. For available-for-sale (“AFS”) debt securities, AIR totaled $7.1 million and $7.5 million as of March 31, 2020, and December 31, 2019, respectively. For held-to-maturity (“HTM”) debt securities, AIR to totaled $8.9 million and $8.1 million as of March 31, 2020, and December 31, 2019, respectively. AIR is included in the “accrued interest receivable” line item on the Company’s consolidated statements of condition.

The table below presents an analysis of the contractual maturities of the Company’s investment securities as of March 31, 2020. Debt securities issued by government agencies (Small Business Administration securities) and mortgage-backed securities are disclosed separately in the table below as these investment securities may prepay prior to their scheduled contractual maturity dates.



(dollars in thousands)	Amortized Cost		Fair Value
Available-for-Sale:
Due in One Year or Less	$	66,246	$	66,355
Due After One Year Through Five Years	96,977		95,275
Due After Five Years Through Ten Years	167,141		166,707
Due After Ten Years	50		51
	330,414		328,388

Debt Securities Issued by Government Agencies	200,921		199,912
Mortgage-Backed Securities:
Residential - Government Agencies	1,159,266		1,199,214
Residential - U.S. Government-Sponsored Enterprises	635,161		661,173
Commercial - Government Agencies	287,441		292,362
Total Mortgage-Backed Securities	2,081,868		2,152,749
Total	$	2,613,203	$	2,681,049

Held-to-Maturity:
Due in One Year or Less	$	234,892	$	237,171
Due After One Year Through Five Years	48,506		49,459
	283,398		286,630
Mortgage-Backed Securities:
Residential - Government Agencies	994,405		1,033,047
Residential - U.S. Government-Sponsored Enterprises	1,648,144		1,705,698
Commercial - Government Agencies	78,192		78,645
Total Mortgage-Backed Securities	2,720,741		2,817,390
Total	$	3,004,139	$	3,104,020

Investment securities with carrying values of $3.4 billion and $2.6 billion as of March 31, 2020, and December 31, 2019, respectively, were pledged to secure deposits of governmental entities, securities sold under agreements to repurchase, and FRB discount window borrowing.

The table below presents the gains and losses from the sales of investment securities for the three months ended March 31, 2020, and March 31, 2019:



	Three Months Ended March 31,
(dollars in thousands)	2020			2019
Gross Gains on Sales of Investment Securities	$	77		$	2,030
Gross Losses on Sales of Investment Securities	(1,047		)	(2,865		)
Net Gains (Losses) on Sales of Investment Securities	$	(970	)	$	(835	)

The losses on sales of investment securities during the three months ended March 31, 2020, and March 31, 2019, were due to fees paid to the counterparties of the Company’s prior Visa Class B share sale transactions, which are expensed as incurred. In addition, the gross losses on sales of investment securities during the three months ended March 31, 2019, included losses on sales of municipal debt securities and mortgage-backed securities as part of a portfolio repositioning.

The following table summarizes the Company’s AFS debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by major security type and length of time in a continuous unrealized loss position:



	Less Than 12 Months					12 Months or Longer					Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
March 31, 2020
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	97,978	$	(1,126	)	$	53,511	$	(112	)	$	151,489	$	(1,238	)
Debt Securities Issued by States and Political Subdivisions	—		—			355		(1		)	355		(1		)
Debt Securities Issued by Corporations	50,000		(644		)	100,866		(4,502		)	150,866		(5,146		)
Mortgage-Backed Securities:
Residential - Government Agencies	54,491		(1,072		)	65,155		(340		)	119,646		(1,412		)
Residential - U.S. Government-Sponsored Enterprises	—		—			10,994		(166		)	10,994		(166		)
Commercial - Government Agencies	51,105		(869		)	—		—			51,105		(869		)
Total Mortgage-Backed Securities	105,596		(1,941		)	76,149		(506		)	181,745		(2,447		)
Total	$	253,574	$	(3,711	)	$	230,881	$	(5,121	)	$	484,455	$	(8,832	)

December 31, 2019
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	65,479	$	(188	)	$	101,761	$	(1,259	)	$	167,240	$	(1,447	)
Debt Securities Issued by States and Political Subdivisions	6,788		(14		)	440		—			7,228		(14		)
Debt Securities Issued by Corporations	25,892		(326		)	74,693		(307		)	100,585		(633		)
Mortgage-Backed Securities:
Residential - Government Agencies	119,271		(526		)	170,805		(2,741		)	290,076		(3,267		)
Residential - U.S. Government-Sponsored Enterprises	187,861		(816		)	73,720		(1,058		)	261,581		(1,874		)
Commercial - Government Agencies	59,826		(319		)	52,965		(2,222		)	112,791		(2,541		)
Total Mortgage-Backed Securities	366,958		(1,661		)	297,490		(6,021		)	664,448		(7,682		)
Total	$	465,117	$	(2,189	)	$	474,384	$	(7,587	)	$	939,501	$	(9,776	)

The Company does not believe that the AFS debt securities that were in an unrealized loss position as of March 31, 2020, which were comprised of 97 individual securities, represent a credit loss impairment. The gross unrealized losses in our corporate bond portfolio were related to debt securities issued by large multinational banks. The unrealized losses primarily resulted from an increase in credit spreads due to the economic uncertainty related to COVID-19. However, as of March 31, 2020, such credit spreads have tightened significantly from their widest levels earlier in the quarter. In addition, such banks have built up substantial capital buffers since the financial crisis of 2008 which mitigates the likelihood of credit losses. As of March 31, 2020, there have been no payment defaults nor do we currently expect any future payment defaults. Furthermore, the Company does not intend to sell these securities, and it is not more likely than not that the Company will be required to sell the investment securities before recovery of their amortized cost basis, which may be at maturity.

The remainder of the AFS debt securities in an unrealized loss position as of March 31, 2020, consisted of debt securities issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Total gross unrealized losses were primarily attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. The Company does not intend to sell the investment securities that were in an unrealized loss position and it is not more likely than not that the Company will be required to sell the investment securities before recovery of their amortized cost basis, which may be at maturity.

Substantially all of the Company’s HTM debt securities are issued by U.S. government agencies or U.S. government-sponsored enterprises. These securities carry the explicit and/or implicit guarantee of the U.S. government, are widely recognized as “risk free,” and have a long history of zero credit loss. Therefore, the Company did not record an allowance for credit losses for these securities as of March 31, 2020.

The Company also carries a limited portfolio of HTM municipal bonds. As of March 31, 2020, the entire portfolio consisted of State of Hawaii bonds carrying a Moody’s rating of Aa1, with a portion of these bonds escrowed to maturity. Utilizing the CECL approach, the Company determined that the expected credit loss on its municipal bond portfolio was de minimis, and therefore, an allowance for credit losses was not recorded as of March 31, 2020.

Interest income from taxable and non-taxable investment securities for the three months ended March 31, 2020, and March 31, 2019, were as follows:



	Three Months Ended March 31,
(dollars in thousands)	2020		2019
Taxable	$	35,393	$	31,992
Non-Taxable	570		3,361
Total Interest Income from Investment Securities	$	35,963	$	35,353

As of March 31, 2020, and December 31, 2019, the carrying value of the Company’s Federal Home Loan Bank of Des Moines stock and Federal Reserve Bank stock was as follows:



(dollars in thousands)	March 31, 2020		December 31, 2019
Federal Home Loan Bank Stock	$	15,000	$	13,000
Federal Reserve Bank Stock	21,198		21,093
Total	$	36,198	$	34,093

These securities can only be redeemed or sold at their par value and only to the respective issuing institution or to another member institution. The Company records these non-marketable equity securities as a component of other assets and periodically evaluates these securities for impairment. Management considers these non-marketable equity securities to be long-term investments. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value.

Visa Class B Restricted Shares

In 2008, the Company received Visa Class B restricted shares as part of Visa’s initial public offering. These shares are transferable only under limited circumstances until they can be converted into the publicly traded Class A common shares. This conversion will not occur until the settlement of certain litigation which will be indemnified by Visa members, including the Company. Visa funded an escrow account from its initial public offering to settle these litigation claims. Should this escrow account be insufficient to cover these litigation claims, Visa is entitled to fund additional amounts to the escrow account by reducing each member bank’s Class B conversion ratio to unrestricted Class A shares. As of March 31, 2020, the conversion ratio was 1.6228. See Note 12 Derivative Financial Instruments for more information.

The Company occasionally sells these Visa Class B shares to other financial institutions. Concurrent with every sale the Company enters into an agreement with the buyer that requires payment to the buyer in the event Visa further reduces the conversion ratio. Based on the existing transfer restriction and the uncertainty of the outcome of the Visa litigation mentioned above, the remaining 80,214 Class B shares (130,171 Class A equivalents) that the Company owns as of March 31, 2020, are carried at a zero cost basis.

Loans and Leases and the Allowance for Loan and Lease Losses

3 Months Ended

Mar. 31, 2020

Loans and Leases and Allowance for Loan and Lease Losses [Abstract]

Loans and Leases and the Allowance for Loan and Lease Losses

Loans and Leases and the Allowance for Credit Losses

Loans and Leases

The Company’s loan and lease portfolio was comprised of the following as of March 31, 2020, and December 31, 2019:



(dollars in thousands)	March 31, 2020		December 31, 2019
Commercial
Commercial and Industrial	$	1,558,232	$	1,379,152
Commercial Mortgage	2,616,243		2,518,051
Construction	245,390		194,170
Lease Financing	110,704		122,454
Total Commercial	4,530,569		4,213,827
Consumer
Residential Mortgage	3,928,183		3,891,100
Home Equity	1,692,154		1,676,073
Automobile	716,214		720,286
Other ¹	485,660		489,606
Total Consumer	6,822,211		6,777,065
Total Loans and Leases	$	11,352,780	$	10,990,892


¹	Comprised of other revolving credit, installment, and lease financing.

The majority of the Company’s lending activity is with customers located in the State of Hawaii. A substantial portion of the Company’s real estate loans are secured by real estate in Hawaii.

Net gains related to sales of residential mortgage loans, recorded as a component of mortgage banking income were $3.2 million and $0.5 million for the three months ended March 31, 2020, and March 31, 2019, respectively.

The Company elected to exclude accrued interest receivable (“AIR”) from the amortized cost basis of loans disclosed throughout this footnote. As of March 31, 2020, and December 31, 2019, AIR for loans totaled $30.9 million and $30.7 million, respectively, and is included in the “accrued interest receivable” line item on the Company’s consolidated statements of condition.

Allowance for Credit Losses (the “Allowance”)

As previously mentioned in Note 1 Summary of Significant Accounting Policies, the Company’s January 1, 2020, adoption of ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments,” resulted in a significant change to our methodology for estimating the Allowance since December 31, 2019. As a result of this adoption, the Company recorded a $1.7 million decrease to the Allowance as a cumulative-effect adjustment on January 1, 2020.

The following presents by portfolio segment, the activity in the Allowance for the three months ended March 31, 2020, and March 31, 2019.



(dollars in thousands)	Commercial			Consumer			Total
Three Months Ended March 31, 2020
Allowance for Credit Losses:
Balance at Beginning of Period (December 31, 2019)	$	73,801		$	36,226		$	110,027
CECL Adoption (Day 1) Impact	(18,789		)	17,052			(1,737		)
Balance at Beginning of Period (January 1, 2020)	55,012			53,278			108,290
Loans and Leases Charged-Off	(693		)	(6,484		)	(7,177		)
Recoveries on Loans and Leases Previously Charged-Off	329			3,108			3,437
Net Loans and Leases Recovered (Charged-Off)	(364		)	(3,376		)	(3,740		)
Provision for Credit Losses	13,339			20,261			33,600
Balance at End of Period	$	67,987		$	70,163		$	138,150

Three Months Ended March 31, 2019
Allowance for Credit Losses:
Balance at Beginning of Period	$	66,874		$	39,819		$	106,693
Loans and Leases Charged-Off	(1,986		)	(4,842		)	(6,828		)
Recoveries on Loans and Leases Previously Charged-Off	501			2,657			3,158
Net Loans and Leases Recovered (Charged-Off)	(1,485		)	(2,185		)	(3,670		)
Provision for Credit Losses	2,138			862			3,000
Balance at End of Period	$	67,527		$	38,496		$	106,023

Credit Quality Indicators

The Company uses several credit quality indicators to manage credit risk in an ongoing manner. The Company uses an internal credit risk rating system that categorizes loans and leases into pass, special mention, or classified categories. Credit risk ratings are applied individually to those classes of loans and leases that have significant or unique credit characteristics that benefit from a case-by-case evaluation. These are typically loans and leases to businesses or individuals in the classes which comprise the commercial portfolio segment. Groups of loans and leases that are underwritten and structured using standardized criteria and characteristics, such as statistical models (e.g., credit scoring or payment performance), are typically risk-rated and monitored collectively. These are typically loans and leases to individuals in the classes which comprise the consumer portfolio segment.

The following are the definitions of the Company’s credit quality indicators:


Pass:	Loans and leases in all classes within the commercial and consumer portfolio segments that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan or lease agreement. Management believes that there is a low likelihood of loss related to those loans and leases that are considered Pass.

Special Mention:

Loans and leases in all classes within the commercial portfolio segment that have potential weaknesses that deserve management’s close attention. If not addressed, these potential weaknesses may result in deterioration of the repayment prospects for the loan or lease. Management believes that there is a moderate likelihood of some loss related to those loans and leases that are considered Special Mention. The Special Mention credit quality indicator is not used for the consumer portfolio segment.

Classified:

Loans and leases in the classes within the commercial portfolio segment that are inadequately protected by the sound worth and paying capacity of the borrower or of the collateral pledged, if any. Classified loans and leases are also those in the classes within the consumer portfolio segment that are past due 90 days or more as to principal or interest. Residential mortgage loans that are past due 90 days or more as to principal or interest may be considered Pass if the current loan-to-value ratio is 60% or less. Home equity loans that are past due 90 days or more as to principal or interest may be considered Pass if the first mortgage is with the Company and the current combined loan-to-value ratio is 60% or less. Residential mortgage and home equity loans may be current as to principal and interest, but may be considered Classified for a period of generally up to six months following a loan modification. Following a period of demonstrated performance in accordance with the modified contractual terms, the loan may be removed from Classified status. Management believes that there is a distinct possibility that the Company will sustain some loss if the deficiencies related to Classified loans and leases are not corrected in a timely manner.

For pass rated credits, risk ratings are certified at a minimum annually. For special mention or classified credits, risk ratings are reviewed for appropriateness on an ongoing basis monthly or at a minimum quarterly. The following presents by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of March 31, 2020.



	Term Loans by Origination Year
(dollars in thousands)	YTD March 31, 2020		2019		2018		2017		2016		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total Loans and Leases
March 31, 2020
Commercial
Commercial and Industrial
Pass	$	160,663	$	253,285	$	212,901	$	93,614	$	87,982	$	108,952	$	557,732	$	1,122	$	1,476,251
Special Mention	62		508		2,087		700		116		152		19,345		—		22,970
Classified	605		22,117		1,678		1,455		440		20,479		12,069		168		59,011
Total Commercial and Industrial	$	161,330	$	275,910	$	216,666	$	95,769	$	88,538	$	129,583	$	589,146	$	1,290	$	1,558,232
Commercial Mortgage
Pass	$	209,933	$	591,055	$	396,239	$	302,711	$	329,045	$	602,337	$	81,036	$	—	$	2,512,356
Special Mention	3,961		820		19,919		13,176		7,359		7,884		—		—		53,119
Classified	11,464		5,413		8,453		1,405		704		23,329		—		—		50,768
Total Commercial Mortgage	$	225,358	$	597,288	$	424,611	$	317,292	$	337,108	$	633,550	$	81,036	$	—	$	2,616,243
Construction
Pass	$	54,220	$	81,985	$	45,600	$	20,336	$	—	$	1,936	$	40,152	$	—	$	244,229
Classified	—		—		—		—		—		1,161		—		—		1,161
Total Construction	$	54,220	$	81,985	$	45,600	$	20,336	$	—	$	3,097	$	40,152	$	—	$	245,390
Lease Financing
Pass	$	2,785	$	23,324	$	16,762	$	5,767	$	12,007	$	48,527	$	—	$	—	$	109,172
Special Mention	—		—		—		2		34		—		—		—		36
Classified	38		80		1,206		59		113		—		—		—		1,496
Total Lease Financing	$	2,823	$	23,404	$	17,968	$	5,828	$	12,154	$	48,527	$	—	$	—	$	110,704
Total Commercial	$	443,731	$	978,587	$	704,845	$	439,225	$	437,800	$	814,757	$	710,334	$	1,290	$	4,530,569
Consumer
Residential Mortgage
Pass	$	212,313	$	704,271	$	445,511	$	625,159	$	678,049	$	1,258,545	$	—	$	—	$	3,923,848
Classified	—		—		—		932		—		3,403		—		—		4,335
Total Residential Mortgage	$	212,313	$	704,271	$	445,511	$	626,091	$	678,049	$	1,261,948	$	—	$	—	$	3,928,183
Home Equity
Pass	$	—	$	—	$	—	$	—	$	—	$	6,245	$	1,637,082	$	43,589	$	1,686,916
Classified	—		—		—		—		—		103		3,973		1,162		5,238
Total Home Equity	$	—	$	—	$	—	$	—	$	—	$	6,348	$	1,641,055	$	44,751	$	1,692,154
Automobile
Pass	$	63,914	$	265,516	$	208,273	$	98,987	$	51,746	$	26,912	$	—	$	—	$	715,348
Classified	—		182		166		257		179		82		—		—		866
Total Automobile	$	63,914	$	265,698	$	208,439	$	99,244	$	51,925	$	26,994	$	—	$	—	$	716,214
Other¹
Pass	$	45,414	$	181,911	$	123,803	$	68,751	$	17,783	$	6,098	$	39,053	$	1,643	$	484,456
Classified	—		326		326		302		119		44		79		8		1,204
Total Other	$	45,414	$	182,237	$	124,129	$	69,053	$	17,902	$	6,142	$	39,132	$	1,651	$	485,660
Total Consumer	$	321,641	$	1,152,206	$	778,079	$	794,388	$	747,876	$	1,301,432	$	1,680,187	$	46,402	$	6,822,211
Total Loans and Leases	$	765,372	$	2,130,793	$	1,482,924	$	1,233,613	$	1,185,676	$	2,116,189	$	2,390,521	$	47,692	$	11,352,780


¹	Comprised of other revolving credit, installment, and lease financing.

For the three months ended March 31, 2020, $0.6 million revolving loans were converted to term loans.

The following presents by loan class and credit quality indicator, the recorded investment in the Company’s loans and leases as of December 31, 2019.



	December 31, 2019
(dollars in thousands)	Commercial and Industrial		Commercial Mortgage		Construction		Lease Financing		Total Commercial
Pass	$	1,306,040	$	2,463,858	$	188,832	$	120,933	$	4,079,663
Special Mention	37,722		16,453		4,148		—		58,323
Classified	35,390		37,740		1,190		1,521		75,841
Total	$	1,379,152	$	2,518,051	$	194,170	$	122,454	$	4,213,827

(dollars in thousands)	Residential Mortgage		Home Equity		Automobile		Other¹		Total Consumer
Pass	$	3,886,389	$	1,671,468	$	719,337	$	488,113	$	6,765,307
Classified	4,711		4,605		949		1,493		11,758
Total	$	3,891,100	$	1,676,073	$	720,286	$	489,606	$	6,777,065
Total Recorded Investment in Loans and Leases									$	10,990,892


¹	Comprised of other revolving credit, installment, and lease financing.

Aging Analysis

Loans and leases are considered to be past due once becoming 30 days delinquent. For the consumer portfolio, this generally represents two missed monthly payments. The following presents by class, an aging analysis of the Company’s loan and lease portfolio as of March 31, 2020, and December 31, 2019.



(dollars in thousands)	30 - 59 Days Past Due		60 - 89 Days Past Due		Past Due 90 Days or More		Non-Accrual		Total Past Due and Non-Accrual		Current		Total Loans and Leases		Non-Accrual Loans and Leases that are Current ²
As of March 31, 2020
Commercial
Commercial and Industrial	$	3,596	$	255	$	—	$	634	$	4,485	$	1,553,747	$	1,558,232	$	429
Commercial Mortgage	4,637		—		—		9,048		13,685		2,602,558		2,616,243		9,048
Construction	720		—		—		—		720		244,670		245,390		—
Lease Financing	23		—		—		—		23		110,681		110,704		—
Total Commercial	8,976		255		—		9,682		18,913		4,511,656		4,530,569		9,477
Consumer
Residential Mortgage	3,935		2,342		3,024		4,330		13,631		3,914,552		3,928,183		1,104
Home Equity	4,367		2,819		3,426		4,086		14,698		1,677,456		1,692,154		839
Automobile	14,590		4,096		866		—		19,552		696,662		716,214		—
Other ¹	3,648		1,905		1,205		—		6,758		478,902		485,660		—
Total Consumer	26,540		11,162		8,521		8,416		54,639		6,767,572		6,822,211		1,943
Total	$	35,516	$	11,417	$	8,521	$	18,098	$	73,552	$	11,279,228	$	11,352,780	$	11,420

As of December 31, 2019
Commercial
Commercial and Industrial	$	12,534	$	148	$	—	$	830	$	13,512	$	1,365,640	$	1,379,152	$	421
Commercial Mortgage	2,998		—		—		9,244		12,242		2,505,809		2,518,051		9,244
Construction	101		51		—		—		152		194,018		194,170		—
Lease Financing	720		—		—		—		720		121,734		122,454		—
Total Commercial	16,353		199		—		10,074		26,626		4,187,201		4,213,827		9,665
Consumer
Residential Mortgage	6,097		2,070		1,839		4,125		14,131		3,876,969		3,891,100		1,429
Home Equity	3,949		2,280		4,125		3,181		13,535		1,662,538		1,676,073		412
Automobile	16,067		4,154		949		—		21,170		699,116		720,286		—
Other ¹	3,498		2,074		1,493		—		7,065		482,541		489,606		—
Total Consumer	29,611		10,578		8,406		7,306		55,901		6,721,164		6,777,065		1,841
Total	$	45,964	$	10,777	$	8,406	$	17,380	$	82,527	$	10,908,365	$	10,990,892	$	11,506


¹	Comprised of other revolving credit, installment, and lease financing.


²	Represents non-accrual loans that are not past due 30 days or more; however, full payment of principal and interest is still not expected.

Non-Accrual Loans and Leases

The following presents the non-accrual loans and leases as of March 31, 2020, and December 31, 2019.



	March 31, 2020						December 31, 2019
(dollars in thousands)	Nonaccrual loans with a related ACL		Nonaccrual loans without a related ACL		Total Nonaccrual loans		Total Nonaccrual loans
Commercial
Commercial and Industrial	$	634	$	—	$	634	$	830
Commercial Mortgage	3,543		5,505		9,048		9,244
Total Commercial	4,177		5,505		9,682		10,074
Consumer
Residential Mortgage	3,399		931		4,330		4,125
Home Equity	4,086		—		4,086		3,181
Total Consumer	7,485		931		8,416		7,306
Total	$	11,662	$	6,436	$	18,098	$	17,380

All payments received while on non-accrual status are applied against the principal balance of the loan or lease. The Company does not recognize interest income while loans or leases are on non-accrual status.

Modifications

A modification of a loan constitutes a TDR when the Company, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. Loans modified in a TDR were $67.1 million as of March 31, 2020, and $69.1 million as of December 31, 2019. There were $0.2 million and $0.3 million commitments to lend additional funds on loans modified in a TDR as of March 31, 2020, and December 31, 2019, respectively.

The Company offers various types of concessions when modifying a loan or lease. Commercial and industrial loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral, a co-borrower, or a guarantor is often requested. Commercial mortgage and construction loans modified in a TDR often involve reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, or substituting or adding a co-borrower or guarantor. Construction loans modified in a TDR may also involve extending the interest-only payment period. Residential mortgage loans modified in a TDR generally include fully amortizing the loan for up to 40 years from the modification effective date. In some cases, the Company may forbear a portion of the unpaid principal balance with a balloon payment due upon maturity or pay-off of the loan. Land loans are also included in the class of residential mortgage loans. Land loans are typically structured as interest-only monthly payments with a balloon payment due at maturity. Land loan modifications usually involve extending the interest-only monthly payments up to an additional five years with a balloon payment due at maturity, or re-amortizing the remaining balance over a period up to 360 months. Interest rates are not changed for land loan modifications. Home equity modifications are made infrequently and uniquely designed to meet the specific needs of each borrower. Automobile loans modified in a TDR are primarily comprised of loans where the Company has lowered monthly payments by extending the term.

Loans modified in a TDR are typically already on non-accrual status and partial charge-offs have in some cases already been taken against the outstanding loan balance. As a result, loans modified in a TDR may have the financial effect of increasing the specific Allowance associated with the loan. An Allowance for impaired commercial and consumer loans that have been modified in a TDR is measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent. Management exercises significant judgment in developing these estimates.

The following presents by class, information related to loans modified in a TDR during the three months ended March 31, 2020, and March 31, 2019.



	Loans Modified as a TDR for the Three Months Ended March 31, 2020							Loans Modified as a TDR for the Three Months Ended March 31, 2019
			Recorded			Increase in				Recorded			Increase in
Troubled Debt Restructurings	Number of		Investment			Allowance		Number of		Investment			Allowance
(dollars in thousands)	Contracts	(as of period end)¹			(as of period end)			Contracts	(as of period end)¹			(as of period end)
Commercial
Commercial and Industrial	2		$	99		$	2	3		$	111		$	5
Commercial Mortgage	—		—			—		1		3,907			—
Total Commercial	2		99			2		4		4,018			5
Consumer
Automobile	52		893			14		117		2,240			34
Other ²	31		240			10		39		229			6
Total Consumer	83		1,133			24		156		2,469			40
Total	85		$	1,232		$	26	160		$	6,487		$	45


¹	The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid-off, charged-off, or foreclosed upon by period end are not included.


²	Comprised of other revolving credit and installment financing.

The following presents by class, all loans modified in a TDR that defaulted during the three months ended March 31, 2020, and March 31, 2019, and within twelve months of their modification date. A TDR is considered to be in default once it becomes 60 days or more past due following a modification.



	Three Months Ended March 31, 2020			Three Months Ended March 31, 2019
TDRs that Defaulted During the Period,		Recorded		Recorded
Within Twelve Months of their Modification Date	Number of	Investment		Number of	Investment
(dollars in thousands)	Contracts	(as of period end)¹		Contracts	(as of period end)¹
Consumer
Automobile	18	$	176	14	$	266
Other ²	5	50		19	125
Total Consumer	23	226		33	391
Total	23	$	226	33	$	391


¹	The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid-off, charged-off, or foreclosed upon by period end are not included.


²	Comprised of other revolving credit and installment financing.

Commercial and consumer loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the Company evaluates the loan for possible further impairment. The specific Allowance associated with the loan may be increased, adjustments may be made in the allocation of the Allowance, or partial charge-offs may be taken to further write-down the carrying value of the loan.

Modifications in response to COVID-19

The Company began offering short-term loan modifications to assist borrowers during the COVID-19 national emergency. The CARES Act along with a joint agency statement issued by banking agencies, provides that short-term modifications made in response to COVID-19 does not need to be accounted for as a TDR. Accordingly, the Company does not account for such loan modifications as TDRs. See Note 1 Summary of Significant Accounting Policies for more information.

Foreclosure Proceedings

Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $1.9 million as of March 31, 2020.

Mortgage Servicing Rights

3 Months Ended

Mar. 31, 2020

Transfers and Servicing of Financial Assets [Abstract]

Mortgage Servicing Rights

The Company’s portfolio of residential mortgage loans serviced for third parties was $3.1 billion as of March 31, 2020, and December 31, 2019, respectively. Substantially all of these loans were originated by the Company and sold to third parties on a non-recourse basis with servicing rights retained. These retained servicing rights are recorded as a servicing asset and are initially recorded at fair value (see Note 14 Fair Value of Assets and Liabilities for more information). Changes to the balance of mortgage servicing rights are recorded in mortgage banking income in the Company’s consolidated statements of income.

The Company’s mortgage servicing activities include collecting principal, interest, and escrow payments from borrowers; making tax and insurance payments on behalf of borrowers; monitoring delinquencies and executing foreclosure proceedings; and accounting for and remitting principal and interest payments to investors. Servicing income, including late and ancillary fees, was $3.7 million and $1.8 million for the three months ended March 31, 2020, and March 31, 2019, respectively. Servicing income is recorded in mortgage banking income in the Company’s consolidated statements of income. The Company’s residential mortgage investor loan servicing portfolio is primarily comprised of fixed rate loans concentrated in Hawaii.

For the three months ended March 31, 2020, and March 31, 2019, the change in the carrying value of the Company’s mortgage servicing rights accounted for under the fair value measurement method was as follows:



	Three Months Ended March 31,
(dollars in thousands)	2020			2019
Balance at Beginning of Period	$	1,126		$	1,290
Change in Fair Value:
Due to Payoffs	(25		)	(22		)
Total Changes in Fair Value of Mortgage Servicing Rights	(25		)	(22		)
Balance at End of Period	$	1,101		$	1,268

For the three months ended March 31, 2020, and March 31, 2019, the change in the carrying value of the Company’s mortgage servicing rights accounted for under the amortization method was as follows:



	Three Months Ended March 31,
(dollars in thousands)	2020			2019
Balance at Beginning of Period	$	23,896		$	23,020
Servicing Rights that Resulted From Asset Transfers	1,165			551
Amortization	(1,112		)	(690		)
Valuation Allowance Provision	(2,513		)	—
Balance at End of Period	$	21,436		$	22,881

Valuation Allowance:
Balance at Beginning of Period	$	—		$	—
Valuation Allowance Provision	(2,513		)	—
Balance at End of Period	$	(2,513	)	$	—

Fair Value of Mortgage Servicing Rights Accounted for Under the Amortization Method
Beginning of Period	$	25,714		$	29,218
End of Period	$	21,436		$	26,814

The key data and assumptions used in estimating the fair value of the Company’s mortgage servicing rights as of March 31, 2020, and December 31, 2019, were as follows:



	March 31, 2020		December 31, 2019
Weighted-Average Constant Prepayment Rate ¹	14.93	%	10.76	%
Weighted-Average Life (in years)	4.88		6.20
Weighted-Average Note Rate	3.96	%	3.99	%
Weighted-Average Discount Rate ²	5.90	%	7.33	%


¹	Represents annualized loan prepayment rate assumption.


²	Derived from multiple interest rate scenarios that incorporate a spread to a market yield curve and market volatilities.

A sensitivity analysis of the Company’s fair value of mortgage servicing rights to changes in certain key assumptions as of March 31, 2020, and December 31, 2019, is presented in the following table.



(dollars in thousands)	March 31, 2020			December 31, 2019
Constant Prepayment Rate
Decrease in fair value from 25 basis points (“bps”) adverse change	$	(228	)	$	(296	)
Decrease in fair value from 50 bps adverse change	(452		)	(586		)
Discount Rate
Decrease in fair value from 25 bps adverse change	(204		)	(264		)
Decrease in fair value from 50 bps adverse change	(403		)	(522		)

This analysis generally cannot be extrapolated because the relationship of a change in one key assumption to the change in the fair value of the Company’s mortgage servicing rights usually is not linear. Also, the effect of changing one key assumption without changing other assumptions is not realistic.

Low Income Housing Tax Credit Partnerships

3 Months Ended

Mar. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Low Income Housing Tax Credit Partnerships

Affordable Housing Projects Tax Credit Partnerships

The Company makes equity investments in various limited partnerships or limited liability companies that sponsor affordable housing projects utilizing the Low Income Housing Tax Credit (“LIHTC”) pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of these entities include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity.

The Company is a limited partner or non-managing member in each LIHTC limited partnership or limited liability company, respectively. Each of these entities is managed by an unrelated third-party general partner or managing member who exercises significant control over the affairs of the entity. The general partner or managing member has all the rights, powers and authority granted or permitted to be granted to a general partner of a limited partnership or managing member of a limited liability company. Duties entrusted to the general partner or managing member include, but are not limited to: investment in operating companies, company expenditures, investment of excess funds, borrowing funds, employment of agents, disposition of fund property, prepayment and refinancing of liabilities, votes and consents, contract authority, disbursement of funds, accounting methods, tax elections, bank accounts, insurance, litigation, cash reserve, and use of working capital reserve funds. Except for limited rights granted to the limited partner(s) or non-managing member(s) relating to the approval of certain transactions, the limited partner(s) and non-managing member(s) may not participate in the operation, management, or control of the entity’s business, transact any business in the entity’s name or have any power to sign documents for or otherwise bind the entity. In addition, the general partner or managing member may only be removed by the limited partner(s) or managing member(s) in the event of a failure to comply with the terms of the agreement or negligence in performing its duties.

The general partner or managing member of each entity has both the power to direct the activities which most significantly affect the performance of each entity and the obligation to absorb losses or the right to receive benefits that could be significant to the entities. Therefore, the Company has determined that it is not the primary beneficiary of any LIHTC entity. The Company uses the effective yield method to account for its pre-2015 investments in these entities. Beginning January 1, 2015, any new investments that meet the requirements of the proportional amortization method are recognized using the proportional amortization method. The Company’s net affordable housing tax credit investments and related unfunded commitments were $92.9 million and $76.3 million as of March 31, 2020, and December 31, 2019, respectively, and are included in other assets in the consolidated statements of condition.

Unfunded Commitments

As of March 31, 2020, the expected payments for unfunded affordable housing commitments were as follows:



(dollars in thousands)	Amount
2020	$	25,423
2021	5,310
2022	79
2023	55
2024	55
Thereafter	1,754
Total Unfunded Commitments	$	32,676

The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the three months ended March 31, 2020, and March 31, 2019.



	Three Months Ended March 31,
(dollars in thousands)	2020		2019
Effective Yield Method
Tax credits and other tax benefits recognized	$	2,938	$	2,930
Amortization Expense in Provision for Income Taxes	2,147		1,891

Proportional Amortization Method
Tax credits and other tax benefits recognized	$	1,523	$	753
Amortization Expense in Provision for Income Taxes	1,318		645

There were no impairment losses related to LIHTC investments during the three months ended March 31, 2020, and March 31, 2019.

Balance Sheet Offsetting

3 Months Ended

Mar. 31, 2020

Offsetting [Abstract]

Balance Sheet Offsetting

Interest Rate Swap Agreements (“Swap Agreements”)

The Company enters into swap agreements to facilitate the risk management strategies of a small number of commercial banking customers. The Company mitigates the risk of entering into these agreements by entering into equal and offsetting swap agreements with third-party financial institutions. The swap agreements are free-standing derivatives and are recorded at fair value in the Company’s consolidated statements of condition (asset positions are included in other assets and liability positions are included in other liabilities). The Company is party to master netting arrangements with its financial institution counterparties; however, the Company does not offset assets and liabilities under these arrangements for financial statement presentation purposes. The master netting arrangements provide for a single net settlement of all swap agreements, as well as collateral, in the event of default on, or termination of, any one contract. Collateral, usually in the form of cash or marketable securities, is posted by the party (i.e., the Company or the financial institution counterparty) with net liability positions in accordance with contract thresholds. The Company had net liability positions with its financial institution counterparties totaling $18.9 million and $5.1 million as of March 31, 2020, and December 31, 2019, respectively. See Note 12 Derivative Financial Instruments for more information.

Parties to a centrally cleared over-the-counter derivative exchange daily payments that reflect the daily change in value of the derivative. Effective 2017, these payments, commonly referred to as variation margin, are recorded as settlements of the derivatives’ mark-to-market exposure rather than collateral against the exposures. This rule change effectively results in any centrally cleared derivative having a fair value that approximates zero on a daily basis, and therefore, these swap agreements were not included in the offsetting table at the end of this section. See Note 12 Derivative Financial Instruments for more information.

Securities Sold Under Agreements to Repurchase (“Repurchase Agreements”)

The Company enters into agreements under which it sells securities subject to an obligation to repurchase the same or similar securities. Under these arrangements, the Company may transfer legal control over the assets but still retain effective control through an agreement that both entitles and obligates the Company to repurchase the assets. As a result, these repurchase agreements are accounted for as collateralized financing arrangements (i.e., secured borrowings) and not as sales and subsequent repurchases of securities. The obligation to repurchase the securities is reflected as a liability in the Company’s consolidated statements of condition, while the securities underlying the repurchase agreements remain in the respective investment securities asset accounts. As a result, there is no offsetting or netting of the investment securities assets with the repurchase agreement liabilities. In addition, as the Company does not enter into reverse repurchase agreements, there is no such offsetting to be done with the repurchase agreements.

The right of setoff for a repurchase agreement resembles a secured borrowing, whereby the collateral pledged by the Company would be used to settle the fair value of the repurchase agreement should the Company be in default (e.g., fail to make an interest payment to the counterparty). For private institution repurchase agreements, if the private institution counterparty were to default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest) and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third-party financial institution in the counterparty’s custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri-party agreement. The Company is required by the counterparty to maintain adequate collateral levels. In the event the collateral fair value falls below stipulated levels, the Company will pledge additional securities. The Company closely monitors collateral levels to ensure adequate levels are maintained, while mitigating the potential risk of over-collateralization in the event of counterparty default.

The following table presents the remaining contractual maturities of the Company’s repurchase agreements as of March 31, 2020, and December 31, 2019, disaggregated by the class of collateral pledged.



	Remaining Contractual Maturity of Repurchase Agreements
(dollars in thousands)	Up to 90 days		91-365 days		1-3 Years		After 3 Years		Total
March 31, 2020
Class of Collateral Pledged:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	—	$	—	$	199,173	$	38,065	$	237,238
Debt Securities Issued by States and Political Subdivisions	—		1,200		—		490		1,690
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,516		25,827		88,391		115,734
Residential - U.S. Government-Sponsored Enterprises	—		—		—		248,544		248,544
Total	$	—	$	2,716	$	225,000	$	375,490	$	603,206

December 31, 2019
Class of Collateral Pledged:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	—	$	—	$	199,173	$	38,065	$	237,238
Debt Securities Issued by States and Political Subdivisions	1,200		1,100		—		490		2,790
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,516		25,827		88,391		115,734
Residential - U.S. Government-Sponsored Enterprises	—		—		—		248,544		248,544
Total	$	1,200	$	2,616	$	225,000	$	375,490	$	604,306

The following table presents the assets and liabilities subject to an enforceable master netting arrangement, or repurchase agreements, as of March 31, 2020, and December 31, 2019. The swap agreements the Company has with our commercial banking customers are not subject to an enforceable master netting arrangement, and therefore, are excluded from this table. As previously mentioned, centrally cleared swap agreements between the Company and institutional counterparties are also excluded from this table.



	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v) = (iii)-(iv)
	Gross Amounts Recognized in the Statements of Condition		Gross Amounts Offset in the Statements of Condition		Net Amounts Presented in the Statements of Condition		Gross Amounts Not Offset in the Statements of Condition
(dollars in thousands)							Netting Adjustments per Master Netting Arrangements		Fair Value of Collateral Pledged/Received ¹		Net Amount
March 31, 2020
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	36	$	—	$	36	$	36	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	18,947		—		18,947		36		8,955		9,956

Repurchase Agreements:
Private Institutions	600,000		—		600,000		—		600,000		—
Government Entities	3,206		—		3,206		—		3,206		—
	$	603,206	$	—	$	603,206	$	—	$	603,206	$	—

December 31, 2019
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	584	$	—	$	584	$	584	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	5,361		—		5,361		584		3,818		959

Repurchase Agreements:
Private Institutions	600,000		—		600,000		—		600,000		—
Government Entities	4,306		—		4,306		—		4,306		—
	$	604,306	$	—	$	604,306	$	—	$	604,306	$	—

¹ The application of collateral cannot reduce the net amount below zero. Therefore, excess collateral is not reflected in this table. For repurchase agreements with private institutions, the fair value of investment securities pledged was $646.4 million and $645.3 million as of March 31, 2020, and December 31, 2019, respectively. For repurchase agreements with government entities, the fair value of investment securities pledged was $5.4 million and $5.5 million as of March 31, 2020, and December 31, 2019, respectively.

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2020

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2020, and March 31, 2019:



(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Three Months Ended March 31, 2020
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	56,556		$	14,989		$	41,567
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale	(77		)	(21		)	$	(56	)
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities ¹	65			17			48
Net Unrealized Gains (Losses) on Investment Securities	56,544			14,985			41,559
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)	570			152			418
Amortization of Prior Service Credit	(61		)	(17		)	(44		)
Defined Benefit Plans, Net	509			135			374
Other Comprehensive Income (Loss)	$	57,053		$	15,120		$	41,933

Three Months Ended March 31, 2019
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	8,952		$	2,371		$	6,581
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale	64			17			$	47
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities ¹	396			105			291
Net Unrealized Gains (Losses) on Investment Securities	9,412			2,493			6,919
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)	406			107			299
Amortization of Prior Service Credit	(72		)	(19		)	(53		)
Defined Benefit Plans, Net	334			88			246
Other Comprehensive Income (Loss)	$	9,746		$	2,581		$	7,165


¹	The amount relates to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available-for-sale investment securities to the held-to-maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2020, and March 31, 2019:



(dollars in thousands)	Investment Securities-Available-for-Sale			Investment Securities-Held-to-Maturity			Defined Benefit Plans			Accumulated Other Comprehensive Income (Loss)
Three Months Ended March 31, 2020
Balance at Beginning of Period	$	8,359		$	(715	)	$	(38,756	)	$	(31,112	)
Other Comprehensive Income (Loss) Before Reclassifications	41,567			—			—			41,567
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	(56		)	48			374			366
Total Other Comprehensive Income (Loss)	41,511			48			374			41,933
Balance at End of Period	$	49,870		$	(667	)	$	(38,382	)	$	10,821

Three Months Ended March 31, 2019
Balance at Beginning of Period	$	(10,447	)	$	(4,586	)	$	(36,010	)	$	(51,043	)
Other Comprehensive Income (Loss) Before Reclassifications	6,581			—			—			6,581
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	47			291			246			584
Total Other Comprehensive Income (Loss)	6,628			291			246			7,165
Balance at End of Period	$	(3,819	)	$	(4,295	)	$	(35,764	)	$	(43,878	)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2020, and March 31, 2019:



Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)¹						Affected Line Item in the Statement Where Net Income Is Presented
	Three Months Ended March 31,
(dollars in thousands)	2020			2019
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(65	)	$	(396	)	Interest Income
	17			105			Provision for Income Tax
	(48		)	(291		)	Net of Tax
Sale of Investment Securities Available-for-Sale	77			(64		)	Investment Securities Gains (Losses), Net
	(21		)	17			Provision for Income Tax
	56			(47		)	Net of tax

Amortization of Defined Benefit Plan Items
Prior Service Credit ²	61			72
Net Actuarial Losses ²	(570		)	(406		)
	(509		)	(334		)	Total Before Tax
	135			88			Provision for Income Tax
	(374		)	(246		)	Net of Tax

Total Reclassifications for the Period	$	(366	)	$	(584	)	Net of Tax


¹	Amounts in parentheses indicate reductions to net income.

These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost and are included in Other Noninterest Expense on the consolidated statements of income (see Note 11 Pension Plans and Postretirement Benefit Plan for additional details).

Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

There were no adjustments to net income, the numerator, for purposes of computing earnings per share. The following is a reconciliation of the weighted average number of common shares outstanding for computing diluted earnings per share and antidilutive stock options and restricted stock outstanding for the three months ended March 31, 2020, and March 31, 2019:



	Three Months Ended March 31,
	2020	2019
Denominator for Basic Earnings Per Share	39,681,611	40,938,318
Dilutive Effect of Equity Based Awards	235,375	275,135
Denominator for Diluted Earnings Per Share	39,916,986	41,213,453

Antidilutive Stock Options and Restricted Stock Outstanding	106,602	102,394

Business Segments

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Business Segments

Effective January 1, 2020, the Company changed segments based on management structure and strategic focus which is placing a greater emphasis on customer segment vs. product type. The Company’s business segments are defined as Consumer Banking, Commercial Banking, and Treasury and Other. The Company’s internal management accounting process measures the performance of these business segments. This process, which is not necessarily comparable with the process used by any other financial institution, uses various techniques to assign balance sheet and income statement amounts to the business segments, including allocations of income, expense, the provision for credit losses, and capital. This process is dynamic and requires certain allocations based on judgment and other subjective factors. Unlike financial accounting, there is no comprehensive authoritative guidance for management accounting that is equivalent to GAAP. Previously reported results have been reclassified to conform to the current reporting structure.

The net interest income of the business segments reflects the results of a funds transfer pricing process that matches assets and liabilities with similar interest rate sensitivity and maturity characteristics and reflects the allocation of net interest income related to the Company’s overall asset and liability management activities on a proportionate basis. The basis for the allocation of net interest income is a function of the Company’s assumptions that are subject to change based on changes in current interest rates and market conditions. Funds transfer pricing also serves to transfer interest rate risk to Treasury. However, the other business segments have some latitude to retain certain interest rate exposures related to customer pricing decisions within guidelines.

The provision for credit losses reflects the actual net charge-offs of the business segments. The amount of the consolidated provision for loan and lease losses is based on the methodology that we use to estimate our consolidated Allowance. The residual provision for credit losses to arrive at the consolidated provision for credit losses is included in Treasury and Other.

Noninterest income and expense includes allocations from support units to business units. These allocations are based on actual usage where practicably calculated or by management’s estimate of such usage.

The provision for income taxes is allocated to business segments using a 26% effective income tax rate. However, the provision for income taxes for our Leasing business unit (included in the Commercial Banking segment) and Auto Leasing portfolio and Pacific Century Life Insurance business unit (both included in the Consumer Banking segment) are assigned their actual effective income tax rates due to the unique relationship that income taxes have with their products. The residual income tax expense or benefit to arrive at the consolidated effective tax rate is included in Treasury and Other.

Consumer Banking

Consumer Banking offers a broad range of financial products and services, including loan, deposit and insurance products; private banking and international client banking services; trust services; investment management; and institutional investment advisory services. Consumer Banking also provides a full service brokerage offering equities, mutual funds, life insurance, and annuity products. Loan and lease products include residential mortgage loans, home equity lines of credit, automobile loans and leases, personal lines of credit, installment loans, small business loans and leases, and credit cards. Deposit products include checking, savings, and time deposit accounts. Private banking and personal trust groups assist individuals and families in building and preserving their wealth by providing investment, credit, and trust services to high-net-worth individuals. The investment management group manages portfolios utilizing a variety of investment products. Also within Consumer Banking, institutional client services offer investment advice to corporations, government entities, and foundations. Products and services from Consumer Banking are delivered to customers through 67 branch locations and 382 ATMs throughout Hawaii and the Pacific Islands, e-Bankoh (on-line banking service), a 24-hour customer service center, and a mobile banking service.

Commercial Banking

Commercial Banking offers products including corporate banking, commercial real estate loans, commercial lease financing, auto dealer financing, and deposit products. Commercial lending and deposit products are offered to middle-market and large companies in Hawaii and the Pacific Islands. In addition, Commercial Banking offers deposit products to government entities in Hawaii. Commercial real estate mortgages focus on customers that include investors, developers, and builders predominantly domiciled in Hawaii. Commercial Banking also includes international banking and provides merchant services to its customers.

Treasury and Other

Treasury consists of corporate asset and liability management activities, including interest rate risk management and a foreign currency exchange business. This segment’s assets and liabilities (and related interest income and expense) consist of interest-bearing deposits, investment securities, federal funds sold and purchased, and short and long-term borrowings. The primary sources of noninterest income are from bank-owned life insurance, net gains from the sale of investment securities, and foreign exchange income related to customer-driven currency requests from merchants and island visitors. The net residual effect of the transfer pricing of assets and liabilities is included in Treasury, along with the elimination of intercompany transactions.

Other organizational units (Technology, Operations, Marketing, Human Resources, Finance, Credit and Risk Management, and Corporate and Regulatory Administration) provide a wide-range of support to the Company’s other income earning segments. Expenses incurred by these support units are charged to the business segments through an internal cost allocation process.

Selected business segment financial information as of and for the three months ended March 31, 2020, and March 31, 2019, were as follows:



(dollars in thousands)	Consumer			Commercial			Treasury and Other			Consolidated Total
Three Months Ended March 31, 2020
Net Interest Income	$	73,661		$	45,986		$	6,319		$	125,966
Provision for Credit Losses	3,545			290			29,765			33,600
Net Interest Income After Provision for Credit Losses	70,116			45,696			(23,446		)	92,366
Noninterest Income	32,590			11,735			1,824			46,149
Noninterest Expense	(70,900		)	(17,298		)	(8,114		)	(96,312		)
Income Before Provision for Income Taxes	31,806			40,133			(29,736		)	42,203
Provision for Income Taxes	(7,984		)	(9,760		)	10,283			(7,461		)
Net Income	$	23,822		$	30,373		$	(19,453	)	$	34,742
Total Assets as of March 31, 2020	$	7,385,185		$	4,584,040		$	6,573,008		$	18,542,233

Three Months Ended March 31, 2019 ¹
Net Interest Income	$	76,352		$	47,290		$	1,195		$	124,837
Provision for Credit Losses	2,224			1,446			(670		)	3,000
Net Interest Income After Provision for Credit Losses	74,128			45,844			1,865			121,837
Noninterest Income	34,478			7,061			2,140			43,679
Noninterest Expense	(69,427		)	(20,955		)	(2,675		)	(93,057		)
Income Before Provision for Income Taxes	39,179			31,950			1,330			72,459
Provision for Income Taxes	(9,834		)	(6,002		)	2,176			(13,660		)
Net Income	$	29,345		$	25,948		$	3,506		$	58,799
Total Assets as of March 31, 2019 ¹	$	6,796,106		$	4,004,176		$	6,646,131		$	17,446,413

¹ Certain prior period information has been reclassified to conform to current presentation.

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The notional amount and fair value of the Company’s derivative financial instruments as of March 31, 2020, and December 31, 2019, were as follows:



	March 31, 2020						December 31, 2019
(dollars in thousands)	Notional Amount			Fair Value			Notional Amount			Fair Value
Interest Rate Lock Commitments		$	82,433	$	3,930			$	48,677	$	1,280
Forward Commitments		75,861		(1,247		)		82,735		(182		)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,035,227		95,661				802,389		26,070
Pay Fixed/Receive Variable Swaps		1,035,227		(18,911		)		802,389		(4,777		)
Foreign Exchange Contracts		88,211		107				85,499		163
Conversion Rate Swap Agreement		98,180		—				114,499		—

The following table presents the Company’s derivative financial instruments, their fair values, and their location in the consolidated statements of condition as of March 31, 2020, and December 31, 2019:



Derivative Financial Instruments	March 31, 2020				December 31, 2019
Not Designated as Hedging Instruments ¹	Asset		Liability		Asset		Liability
(dollars in thousands)	Derivatives		Derivatives		Derivatives		Derivatives
Interest Rate Lock Commitments	$	3,930	$	—	$	1,280	$	—
Forward Commitments	52		1,299		23		205
Interest Rate Swap Agreements	95,918		19,168		27,344		6,051
Foreign Exchange Contracts	691		584		284		121
Total	$	100,591	$	21,051	$	28,931	$	6,377


¹	Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition.

The following table presents the Company’s derivative financial instruments and the amount and location of the net gains or losses recognized in the consolidated statements of income for the three months ended March 31, 2020, and March 31, 2019:



	Location of
Derivative Financial Instruments	Net Gains (Losses)	Three Months Ended
Not Designated as Hedging Instruments	Recognized in the	March 31,
(dollars in thousands)	Statements of Income	2020			2019
Interest Rate Lock Commitments	Mortgage Banking	$	6,303		$	1,725
Forward Commitments	Mortgage Banking	(2,184		)	(592		)
Interest Rate Swap Agreements	Other Noninterest Income	6,438			1,136
Foreign Exchange Contracts	Other Noninterest Income	714			914
Total		$	11,271		$	3,183

Management has received authorization from the Bank’s Board of Directors to use derivative financial instruments as an end-user in connection with the Bank’s risk management activities and to accommodate the needs of the Bank’s customers. As with any financial instrument, derivative financial instruments have inherent risks. Market risk is defined as the risk of adverse financial impact due to fluctuations in interest rates, foreign exchange rates, and equity prices. Market risks associated with derivative financial instruments are balanced with the expected returns to enhance earnings performance and shareholder value, while limiting the volatility of each. The Company uses various processes to monitor its overall market risk exposure, including sensitivity analysis, value-at-risk calculations, and other methodologies.

Derivative financial instruments are also subject to credit and counterparty risk, which is defined as the risk of financial loss if a borrower or counterparty is either unable or unwilling to repay borrowings or settle transactions in accordance with the underlying contractual terms. Credit and counterparty risks associated with derivative financial instruments are similar to those relating to traditional financial instruments. The Company manages derivative credit and counterparty risk by evaluating the creditworthiness of each borrower or counterparty, adhering to the same credit approval process used for commercial lending activities.

As of March 31, 2020, and December 31, 2019, the Company did not designate any derivative financial instruments as formal hedging relationships. The Company’s free-standing derivative financial instruments are required to be carried at their fair value on the Company’s consolidated statements of condition. These financial instruments have been limited to interest rate lock commitments (“IRLCs”), forward commitments, Swap Agreements, foreign exchange contracts, and conversion rate swap agreements.

The Company enters into IRLCs for residential mortgage loans which commit us to lend funds to a potential borrower at a specific interest rate and within a specified period of time. IRLCs that relate to the origination of mortgage loans that will be held for sale are considered derivative financial instruments under applicable accounting guidance. Outstanding IRLCs expose the Company to the risk that the price of the mortgage loans underlying the commitments may decline due to increases in mortgage interest rates from inception of the rate lock to the funding of the loan. To mitigate this risk, the Company utilizes forward commitments as economic hedges against the potential decreases in the values of the loans held for sale. IRLCs and forward commitments are free-standing derivatives which are carried at fair value with changes recorded in the mortgage banking component of noninterest income in the Company’s consolidated statements of income.

The Company enters into Swap Agreements to facilitate the risk management strategies of a small number of commercial banking customers. The Company mitigates the interest rate risk of entering into these agreements by entering into equal and offsetting interest rate swap agreements with third-party financial institutions. The interest rate swap agreements are free-standing derivatives and are recorded at fair value in the Company’s consolidated statements of condition. Fair value changes are recorded in other noninterest income in the Company’s consolidated statements of income. The Company is party to master netting arrangements with its financial institution counterparties; however, the Company does not offset assets and liabilities under these arrangements for financial statement presentation purposes. Collateral, usually in the form of cash or marketable securities, is posted by the counterparty with net liability positions in accordance with contract thresholds. See Note 7 Balance Sheet Offsetting for more information.

The Company’s interest rate swap agreements with financial institution counterparties may contain credit-risk-related contingent features tied to a specified credit rating of the Company. Under these provisions, should the Company’s specified rating fall below a particular level (e.g., investment grade), or if the Company no longer obtains the specified rating, the counterparty may require the Company to pledge collateral on an immediate and ongoing basis (subject to the requirement that such swaps are in a net liability position beyond the level specified in the contract), or require immediate settlement of the swap agreement. Other credit-risk-related contingent features may also allow the counterparty to require immediate settlement of the swap agreement if the Company fails to maintain a specified minimum level of capitalization.

With regard to derivative contracts not centrally cleared through a clearinghouse, regulations require collateral to be posted by the party with a net liability position (i.e., the threshold for posting collateral was reduced to zero, subject to certain minimum transfer amounts). The requirements generally applied to new derivative contracts entered into by the Company after March 1, 2017, although certain counterparties may elect to apply lower thresholds to existing contracts.

Parties to a centrally cleared over-the-counter derivative exchange daily payments that reflect the daily change in value of the derivative. These payments are commonly referred to as variation margin. Historically, variation margin payments have typically been treated as collateral against the derivative position. Effective 2017, the Chicago Mercantile Exchange and LCH.Clearnet Limited (collectively, the “clearinghouses”) amended their rulebooks to legally characterize variation margin payments for over-the-counter derivatives they clear as settlements of the derivatives’ mark-to-market exposure rather than collateral against the exposures. This rule change effectively causes any derivative cleared through one of the clearinghouses to have a fair value that approximates zero on a daily basis. The majority of the Company’s swap agreements executed with third-party financial institutions are now required to be cleared through one of the clearinghouses. The uncleared swap agreements executed with third-party financial institutions will remain subject to the collateral requirements and credit-risk-related contingent features described in the previous paragraphs, and therefore, are not subject to the variation margin rule change. Likewise, the swap agreements executed with the Company’s commercial banking customers will remain uncleared and will also not be subject to the variation margin rule change.

The Company utilizes foreign exchange contracts to offset risks related to transactions executed on behalf of customers. The foreign exchange contracts are free-standing derivatives which are carried at fair value with changes included in other noninterest income in the Company’s consolidated statements of income.

As each sale of Visa Class B restricted shares was completed, the Company entered into a conversion rate swap agreement with the buyer that requires payment to the buyer in the event Visa further reduces the conversion ratio of Class B into Class A unrestricted common shares. In the event of Visa increasing the conversion ratio, the buyer would be required to make payment to the Company. The conversion rate swap agreement was valued at zero (i.e., no contingent liability recorded) as further reductions to the conversion ratio were deemed neither probable nor reasonably estimable by management. See Note 3 Investment Securities for more information.

Pension Plans and Postretirement Benefit Plan

3 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

Pension Plans and Postretirement Benefit Plan

Components of net periodic benefit cost for the Company’s pension plans and the postretirement benefit plan are presented in the following table for the three months ended March 31, 2020, and March 31, 2019.



	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2020			2019			2020			2019
Three Months Ended March 31,
Service Cost	$	—		$	—		$	151		$	118
Interest Cost	900			1,094			231			258
Expected Return on Plan Assets	(1,258		)	(1,249		)	—			—
Amortization of:
Prior Service Credit	—			—			(61		)	(72		)
Net Actuarial Losses (Gains)	570			484			—			(78		)
Net Periodic Benefit Cost	$	212		$	329		$	321		$	226

The service cost component of net periodic benefit cost are included in salaries and benefits and all other components of net periodic benefit cost are included in other noninterest expense in the consolidated statements of income for the Company’s pension plans and postretirement benefit plan. For the three months ended March 31, 2020, the Company contributed $0.1 million to the pension plans and $0.3 million to the postretirement benefit plan. The Company expects to contribute a total of $0.4 million to the pension plans and $1.0 million to the postretirement benefit plan for the year ending December 31, 2020.

Commitments, Contingencies, and Guarantees

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies, and Guarantees

The Company’s credit commitments as of March 31, 2020, and December 31, 2019, were as follows:



(dollars in thousands)	March 31, 2020		December 31, 2019
Unfunded Commitments to Extend Credit	$	2,579,748	$	2,713,937
Standby Letters of Credit	83,175		81,000
Commercial Letters of Credit	15,870		16,981
Total Credit Commitments	$	2,678,793	$	2,811,918

Unfunded Commitments to Extend Credit

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of the terms or conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since commitments may expire without being drawn, the total commitment amount does not necessarily represent future cash requirements.

Standby and Commercial Letters of Credit

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third-party. Standby letters of credit generally become payable upon the failure of the customer to perform according to the terms of the underlying contract with the third-party, while 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 a third party. The contractual amount of these letters of credit represents the maximum potential future payments guaranteed by the Company. The Company has recourse against the customer for any amount it is required to pay to a third-party under a standby letter of credit, and generally holds cash or deposits as collateral on those standby letters of credit for which collateral is deemed necessary.

Contingencies

On September 9, 2016, a purported class action lawsuit was filed by a Bank customer primarily alleging Bank of Hawaii’s practice of determining whether consumer deposit accounts were overdrawn based on “available balance” (which deducts debit card transactions that have taken place but which have not yet been posted) was not properly applied or disclosed to customers. On October 16, 2019, the Bank reached a tentative settlement with the named plaintiff, subject to documentation and court approvals. The settlement provides for forgiveness of certain related and previously charged off overdraft fees, and a payment by the Company of $8.0 million into a class settlement fund the proceeds of which will be used to refund class members, and to pay attorneys’ fees, administrative and other costs, in exchange for a complete release of all claims asserted against the Company. The Company had an $8.0 million reserve relating to this claim, as of March 31, 2020. On March 12, 2020, the court granted preliminary approval of the settlement. A court hearing for final approval of the settlement is set for July 6, 2020.

In addition to the litigation noted above, the Company is subject to various other pending and threatened legal proceedings arising out of the normal course of business or operations. On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with outstanding legal proceedings using the most recent information available. On a case-by-case basis, reserves are established for those legal claims for which it is probable that a loss will be incurred and the amount of such loss can be reasonably estimated. Based on information currently available, management believes that the eventual outcome of these claims against the Company will not be materially in excess of such amounts reserved by the Company. However, in the event of unexpected future developments, it is possible that the ultimate resolution of these matters may result in a loss that materially exceeds the reserves established by the Company.

Risks Related to Representation and Warranty Provisions

The Company sells residential mortgage loans in the secondary market primarily to the Federal National Mortgage Association (“Fannie Mae”). The Company also pools Federal Housing Administration (“FHA”) insured and U.S. Department of Veterans Affairs (“VA”) guaranteed residential mortgage loans for sale to the Government National Mortgage Corporation (“Ginnie Mae”). These pools of FHA-insured and VA-guaranteed residential mortgage loans are securitized by Ginnie Mae. The agreements under which the Company sells residential mortgage loans to Fannie Mae or Ginnie Mae and the insurance or guaranty agreements with FHA and VA contain provisions that include various representations and warranties regarding the origination and characteristics of the residential mortgage loans. Although the specific representations and warranties vary among investors, insurance or guarantee agreements, they typically cover ownership of the loan, validity of the lien securing the loan, the absence of delinquent taxes or liens against the property securing the loan, compliance with loan criteria set forth in the applicable agreement, compliance with applicable federal, state, and local laws, and other matters. As of March 31, 2020, the unpaid principal balance of residential mortgage loans sold by the Company was $2.8 billion. The agreements under which the Company sells residential mortgage loans require delivery of various documents to the investor or its document custodian. Although these loans are primarily sold on a non-recourse basis, the Company may be obligated to repurchase residential mortgage loans or reimburse investors for losses incurred if a loan review reveals that underwriting and documentation standards were potentially not met. Some agreements may require the Company to repurchase delinquent loans. Upon receipt of a repurchase request, the Company works with investors or insurers to arrive at a mutually agreeable resolution. Repurchase demands are typically reviewed on an individual loan-by-loan basis to validate the claims made by the investor or insurer and to determine if a contractually required repurchase event has occurred. The Company manages the risk associated with potential repurchases or other forms of settlement through its underwriting and quality assurance practices and by servicing mortgage loans to meet investor and secondary market standards. During the three months ended March 31, 2020, there were no residential mortgage loans repurchased as a result of the representation and warranty provisions contained in the applicable contract. As of March 31, 2020, there was no pending repurchase requests related to representation and warranty provisions.

Risks Relating to Residential Mortgage Loan Servicing Activities

In addition to servicing loans in the Company’s portfolio, substantially all of the loans the Company sells to investors are sold with servicing rights retained. The Company also services loans originated by other mortgage loan originators. As servicer, the Company’s primary duties are to: (1) collect payments due from borrowers; (2) advance certain delinquent payments of principal and interest; (3) maintain and administer any hazard, title, or primary mortgage insurance policies relating to the mortgage loans; (4) maintain any required escrow accounts for payment of taxes and insurance and administer escrow payments; and (5) foreclose on defaulted mortgage loans or, to the extent consistent with the documents governing a securitization, consider alternatives to foreclosure, such as loan modifications or short sales. Each agreement under which the Company acts as servicer generally specifies a standard of responsibility for actions taken by the Company in such capacity and provides protection against expenses and liabilities incurred by the Company when acting in compliance with the respective servicing agreements. However, if the Company commits a material breach of obligations as servicer, the Company may be subject to termination if the breach is not cured within a specified period following notice. The standards governing servicing and the possible remedies for violations of such standards vary by investor. These standards and remedies are determined by servicing guides issued by the investors as well as the contract provisions established between the investors and the Company. Remedies could include repurchase of an affected loan. For the three months ended March 31, 2020, there were no loans repurchased related to loan servicing activities. As of March 31, 2020, there were no pending repurchase requests related to loan servicing activities.

Although to date repurchase requests related to representation and warranty provisions and servicing activities have been limited, it is possible that requests to repurchase mortgage loans may increase in frequency as investors more aggressively pursue all means of recovering losses on their purchased loans. However, as of March 31, 2020, management believes that this exposure is not material due to the historical level of repurchase requests and loss trends and thus has not established a liability for losses related to mortgage loan repurchases. As of March 31, 2020, 99% of the Company’s residential mortgage loans serviced for investors were current. The Company maintains ongoing communications with investors and continues to evaluate this exposure by monitoring the level and number of repurchase requests as well as the delinquency rates in the loans sold to investors.

Fair Value of Assets and Liabilities

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

Fair Value Hierarchy

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction between market participants at the measurement date. GAAP established a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels:



Level 1:	Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and is used to measure fair value whenever available. A contractually binding sales price also provides reliable evidence of fair value.

Level 2:	Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; inputs to the valuation methodology include quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs to the valuation methodology that utilize model-based techniques for which all significant assumptions are observable in the market.

Level 3:	Inputs to the valuation methodology are unobservable and significant to the fair value measurement; inputs to the valuation methodology that utilize model-based techniques for which significant assumptions are not observable in the market; or inputs to the valuation methodology that require significant management judgment or estimation, some of which may be internally developed.

In some instances, an instrument may fall into multiple levels of the fair value hierarchy. In such instances, the instrument’s level within the fair value hierarchy is based on the lowest of the three levels (with Level 3 being the lowest) that is significant to the fair value measurement. Our assessment of the significance of an input requires judgment and considers factors specific to the instrument.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Investment Securities Available-for-Sale

Fair values of investment securities available-for-sale were primarily measured using information from a third-party pricing service. This service provides pricing information by utilizing evaluated pricing models supported with market data information. Standard inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data from market research publications. Level 1 investment securities are comprised of debt securities issued by the U.S. Treasury, as quoted prices were available, unadjusted, for identical securities in active markets. Level 2 investment securities were primarily comprised of debt securities issued by the Small Business Administration, states and municipalities, corporations, as well as mortgage-backed securities issued by government agencies and government-sponsored enterprises. Fair values were estimated primarily by obtaining quoted prices for similar assets in active markets or through the use of pricing models. In cases where there may be limited or less transparent information provided by the Company’s third-party pricing service, fair value may be estimated by the use of secondary pricing services or through the use of non-binding third-party broker quotes.

On a quarterly basis, management reviews the pricing information received from the Company’s third-party pricing service. This review process includes a comparison to a second source. The Company’s third-party pricing service has also established processes for us to submit inquiries regarding quoted prices. Periodically, based on these reviews, the Company will challenge the quoted prices provided by the Company’s third-party pricing service. The Company’s third-party pricing service will review the inputs to the evaluation in light of the new market data presented by us. The Company’s third-party pricing service may then affirm the original quoted price or may update the evaluation on a going-forward basis. Generally, we do not adjust the price from the third-party service provider. On a quarterly basis, management also reviews a sample of securities priced by the Company’s third-party pricing service to review the significant assumptions and valuation methodologies used by the service. The information provided is comprised of market reference data, which may include reported trades; bids, offers, or broker-dealer dealer quotes; benchmark yields and spreads; as well as other reference data as appropriate. Based on this review, management determines whether the current placement of the security in the fair value hierarchy is appropriate or whether transfers may be warranted.

Loans Held for Sale

The fair value of the Company’s residential mortgage loans held for sale was determined based on quoted prices for similar loans in active markets, and therefore, is classified as a Level 2 measurement.

Mortgage Servicing Rights

Mortgage servicing rights do not trade in an active market with readily observable market data. As a result, the Company estimates the fair value of mortgage servicing rights by using a discounted cash flow model to calculate the present value of estimated future net servicing income. The Company stratifies its mortgage servicing portfolio on the basis of loan type. The assumptions used in the discounted cash flow model are those that the Company believes market participants would use in estimating future net servicing income. Significant assumptions in the valuation of mortgage servicing rights include estimated loan repayment rates, the discount rate, servicing costs, and the timing of cash flows, among other factors. Mortgage servicing rights are classified as Level 3 measurements due to the use of significant unobservable inputs, as well as significant management judgment and estimation.

Other Assets

Other assets recorded at fair value on a recurring basis are primarily comprised of investments related to deferred compensation arrangements. Quoted prices for these investments, primarily in mutual funds, are available in active markets. Thus, the Company’s investments related to deferred compensation arrangements are classified as Level 1 measurements in the fair value hierarchy.

Derivative Financial Instruments

Derivative financial instruments recorded at fair value on a recurring basis are comprised of IRLCs, forward commitments, interest rate swap agreements, foreign exchange contracts, and Visa Class B to Class A shares conversion rate swap agreements. The fair values of IRLCs are calculated based on the value of the underlying loan held for sale, which in turn is based on quoted prices for similar loans in the secondary market. However, this value is adjusted by a factor which considers the likelihood that the loan in a locked position will ultimately close. This factor, the closing ratio, is derived from the Bank’s internal data and is adjusted using significant management judgment. As such, IRLCs are classified as Level 3 measurements. Forward commitments are classified as Level 2 measurements as they are primarily based on quoted prices from the secondary market based on the settlement date of the contracts, interpolated or extrapolated, if necessary, to estimate a fair value as of the end of the reporting period. The fair values of interest rate swap agreements are calculated using a discounted cash flow approach and utilize Level 2 observable inputs such as a market yield curve, effective date, maturity date, notional amount, and stated interest rate. In addition, the Company includes in its fair value calculation a credit factor adjustment which is based primarily on management judgment. Thus, interest rate swap agreements are classified as a Level 3 measurement. The fair values of foreign exchange contracts are calculated using the Bank’s multi-currency accounting system which utilizes contract specific information such as currency, maturity date, contractual amount, and strike price, along with market data information such as the spot rates of specific currency and yield curves. Foreign exchange contracts are classified as Level 2 measurements because while they are valued using the Bank’s multi-currency accounting system, significant management judgment or estimation is not required. The fair value of the Visa Class B restricted shares to Class A unrestricted common shares conversion rate swap agreements represent the amount owed by the Company to the buyer of the Visa Class B shares as a result of a reduction of the conversion ratio subsequent to the sales date. As of March 31, 2020, and December 31, 2019, the conversion rate swap agreements were valued at zero as reductions to the conversion ratio were neither probable nor reasonably estimable by management. See Note 12 Derivative Financial Instruments for more information.

The Company is exposed to credit risk if borrowers or counterparties fail to perform. The Company seeks to minimize credit risk through credit approvals, limits, monitoring procedures, and collateral requirements. The Company generally enters into transactions with borrowers and counterparties that carry high quality credit ratings. Credit risk associated with borrowers or counterparties as well as the Company’s non-performance risk is factored into the determination of the fair value of derivative financial instruments.

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2020, and December 31, 2019:



	Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
(dollars in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
March 31, 2020
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	1,176	$	199,913	$	—	$	201,089
Debt Securities Issued by States and Political Subdivisions	—		55,023		—		55,023
Debt Securities Issued by U.S. Government-Sponsored Enterprises	—		1,012		—		1,012
Debt Securities Issued by Corporations	—		271,176		—		271,176
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,199,214		—		1,199,214
Residential - U.S. Government-Sponsored Enterprises	—		661,173		—		661,173
Commercial - Government Agencies	—		292,362		—		292,362
Total Mortgage-Backed Securities	—		2,152,749		—		2,152,749
Total Investment Securities Available-for-Sale	1,176		2,679,873		—		2,681,049
Loans Held for Sale	—		20,789		—		20,789
Mortgage Servicing Rights	—		—		1,101		1,101
Other Assets	42,844		—		—		42,844
Derivatives ¹	—		743		99,848		100,591
Total Assets Measured at Fair Value on a Recurring Basis as of March 31, 2020	$	44,020	$	2,701,405	$	100,949	$	2,846,374

Liabilities:
Derivatives ¹	$	—	$	1,883	$	19,168	$	21,051
Total Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2020	$	—	$	1,883	$	19,168	$	21,051

December 31, 2019
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	1,155	$	219,976	$	—	$	221,131
Debt Securities Issued by States and Political Subdivisions	—		55,097		—		55,097
Debt Securities Issued by U.S. Government-Sponsored Enterprises	—		22,147		—		22,147
Debt Securities Issued by Corporations	—		336,321		—		336,321
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,172,826		—		1,172,826
Residential - U.S. Government-Sponsored Enterprises	—		586,761		—		586,761
Commercial - Government Agencies	—		224,720		—		224,720
Total Mortgage-Backed Securities	—		1,984,307		—		1,984,307
Total Investment Securities Available-for-Sale	1,155		2,617,848		—		2,619,003
Loans Held for Sale	—		39,062		—		39,062
Mortgage Servicing Rights	—		—		1,126		1,126
Other Assets	41,464		—		—		41,464
Derivatives ¹	—		308		28,623		28,931
Total Assets Measured at Fair Value on a Recurring Basis as of December 31, 2019	$	42,619	$	2,657,218	$	29,749	$	2,729,586

Liabilities:
Derivatives ¹	$	—	$	327	$	6,050	$	6,377
Total Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2019	$	—	$	327	$	6,050	$	6,377


¹	The fair value of each class of derivatives is shown in Note 12 Derivative Financial Instruments.

For the three months ended March 31, 2020, and March 31, 2019, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:



(dollars in thousands)	Mortgage Servicing Rights ¹			Net Derivative Assets and Liabilities ²
Three Months Ended March 31, 2020
Balance as of January 1, 2020	$	1,126		$	22,573
Realized and Unrealized Net Gains (Losses):
Included in Net Income	(25		)	6,172
Transfers to Loans Held for Sale	—			(3,653		)
Variation Margin Payments	—			55,588
Balance as of March 31, 2020	$	1,101		$	80,680
Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held as of March 31, 2020	$	—		$	80,680

Three Months Ended March 31, 2019
Balance as of January 1, 2019	$	1,290		$	4,416
Realized and Unrealized Net Gains (Losses):
Included in Net Income	(22		)	1,715
Transfers to Loans Held for Sale	—			(1,498		)
Variation Margin Payments	—			4,542
Balance as of March 31, 2019	$	1,268		$	9,175
Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held as of March 31, 2019	$	—		$	9,175


¹	Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of mortgage banking income in the Company’s consolidated statements of income.


²	Realized and unrealized gains and losses related to interest rate lock commitments are reported as a component of mortgage banking income in the Company’s consolidated statements of income. Realized and unrealized gains and losses related to interest rate swap agreements are reported as a component of other noninterest income in the Company’s consolidated statements of income.

For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of March 31, 2020, and December 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows:



		March 31, 2020										December 31, 2019
(dollars in thousands)	Valuation Technique	Description	Range					Weighted Average ¹		Fair Value		Weighted Average ¹		Fair Value
Mortgage Servicing Rights	Discounted Cash Flow	Constant Prepayment Rate	9.57	%	-	16.76	%	14.93	%	$	22,537	10.76	%	$	26,840
		Discount Rate	5.88	%	-	6.44	%	5.90	%			7.33	%

Net Derivative Assets and Liabilities:
Interest Rate Lock Commitments	Pricing Model	Closing Ratio	75.40	%	-	99.00	%	87.46	%	$	3,930	92.24	%	$	1,280
Interest Rate Swap Agreements	Discounted Cash Flow	Credit Factor	0.02	%	-	0.61	%	0.19	%	$	76,750	0.20	%	$	21,293


¹	Unobservable inputs for mortgage servicing rights and interest rate lock commitments were weighted by loan amount. Unobservable inputs for interest rate swap agreements were weighted by fair value.

The significant unobservable inputs used in the fair value measurement of the Company’s mortgage servicing rights are the weighted-average constant prepayment rate and weighted-average discount rate. Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. Although the constant prepayment rate and the discount rate are not directly interrelated, they generally move in opposite directions of each other.

The Company estimates the fair value of mortgage servicing rights by using a discounted cash flow model to calculate the present value of estimated future net servicing income. The Company’s Treasury Division enters observable and unobservable inputs into the model to arrive at an estimated fair value. To assess the reasonableness of the fair value measurement, the Treasury Division performs a back-test by comparing the model’s results to historical prepayment data. The Treasury Division also compares the fair value of the Company’s mortgage servicing rights to a value calculated by an independent third-party. Discussions are held with members from the Treasury, Mortgage Banking, and Controllers Divisions, along with the independent third-party to discuss and reconcile the fair value estimates and key assumptions used by the respective parties in arriving at those estimates. A subcommittee of the Company’s Asset/Liability Management Committee is responsible for providing oversight over the valuation methodology and key assumptions.

The significant unobservable input used in the fair value measurement of the Company’s IRLCs is the closing ratio, which represents the percentage of loans currently in a lock position which management estimates will ultimately close. Generally, the fair value of an IRLC is positive (negative) if the prevailing interest rate is lower (higher) than the IRLC rate. Therefore, an increase in the closing ratio (i.e., higher percentage of loans are estimated to close) will increase the gain or loss. The closing ratio is largely dependent on the loan processing stage that a loan is currently in and the change in prevailing interest rates from the time of the rate lock. The closing ratio is computed by the Company’s secondary marketing system using historical data and the ratio is periodically reviewed by the Company for reasonableness.

The unobservable input used in the fair value measurement of the Company’s interest rate swap agreements is the credit spread. This factor represents the risk that a counterparty is either unable or unwilling to settle a transaction in accordance with the underlying contractual terms. A significant increase (decrease) in the credit spread could result in a significantly lower (higher) fair value measurement. The credit spread is based upon the creditworthiness of the borrower and is input into a proprietary model that calculates fair value using probability of default, loss given default, and exposure at default.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The Company may be required periodically to measure certain assets and liabilities at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from the application of lower-of-cost-or-fair value accounting or impairment write-downs of individual assets. The following table represents the assets measured at fair value on a nonrecurring basis as of March 31, 2020. There were no assets measured at fair value on a nonrecurring basis as of

December 31, 2019.



(dollars in thousands)	Fair Value Hierarchy	Net Carrying Amount		Valuation Allowance
March 31, 2020
Mortgage Servicing Rights - amortization method	Level 3	$	21,436	$	(2,513	)

The write-down of mortgage servicing rights accounted for under the amortization method was primarily due to changes in certain key assumptions used to estimate fair value. As previously mentioned, all of the Company's mortgage servicing rights are classified as Level 3 measurements due to the use of significant unobservable inputs, as well as significant management judgment and estimation.

Fair Value Option

The Company elects the fair value option for all residential mortgage loans held for sale. This election allows for a more effective offset of the changes in fair values of the loans held for sale and the derivative financial instruments used to financially hedge them without having to apply complex hedge accounting requirements. As noted above, the fair value of the Company’s residential mortgage loans held for sale was determined based on quoted prices for similar loans in active markets.

The following table reflects the difference between the aggregate fair value and the aggregate unpaid principal balance of the Company’s residential mortgage loans held for sale as of March 31, 2020, and December 31, 2019.



(dollars in thousands)	Aggregate Fair Value		Aggregate Unpaid Principal			Aggregate Fair Value Less Aggregate Unpaid Principal
March 31, 2020
Loans Held for Sale	$	20,789		$	13,848		$	6,941

December 31, 2019
Loans Held for Sale	$	39,062		$	38,293		$	769

Changes in the estimated fair value of residential mortgage loans held for sale are reported as a component of mortgage banking income in the Company’s consolidated statements of income. For the three months ended March 31, 2020, and March 31, 2019, the net gains or losses from the change in fair value of the Company’s residential mortgage loans held for sale were not material.

Financial Instruments Not Recorded at Fair Value on a Recurring Basis

The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments not recorded at fair value on a recurring basis as of March 31, 2020, and December 31, 2019. This table excludes financial instruments for which the carrying amount approximates fair value. For short-term financial assets such as cash and cash equivalents, the carrying amount is a reasonable estimate of fair value due to the relatively short time between the origination of the instrument and its expected realization. For non-marketable equity securities such as Federal Home Loan Bank and Federal Reserve Bank stock, the carrying amount is a reasonable estimate of fair value as these securities can only be redeemed or sold at their par value and only to the respective issuing government supported institution or to another member institution. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings deposits, the carrying amount is a reasonable estimate of fair value due to these products having no stated maturity.



					Fair Value Measurements
	Carrying				Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
(dollars in thousands)	Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
March 31, 2020
Financial Instruments - Assets
Investment Securities Held-to-Maturity	$	3,004,139	$	3,104,020	$	216,723	$	2,887,297	$	—
Loans ¹	11,013,610		11,548,639		—		—		11,548,639

Financial Instruments - Liabilities
Time Deposits	1,744,812		1,754,741		—		1,754,741		—
Securities Sold Under Agreements to Repurchase	603,206		651,276		—		651,276		—
Other Debt ²	50,000		50,800		—		50,800		—

December 31, 2019
Financial Instruments - Assets
Investment Securities Held-to-Maturity	$	3,042,294	$	3,062,882	$	275,663	$	2,787,219	$	—
Loans ¹	10,664,885		10,873,208		—		—		10,873,208

Financial Instruments - Liabilities
Time Deposits	1,802,431		1,800,773		—		1,800,773		—
Securities Sold Under Agreements to Repurchase	604,306		627,780		—		627,780		—
Other Debt ²	75,000		75,581		—		75,581		—


¹	Carrying amount is net of unearned income and the Allowance.

Excludes finance lease obligations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Revenue Recognition

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

On January 1, 2018, the Company adopted ASU No. 2014-09 “Revenue from Contracts with Customers” (Topic 606) and all subsequent ASUs that modified Topic 606. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities, which comprise the majority of the Company’s revenue. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives, and certain credit card fees are also not within the scope of the new guidance. Topic 606 is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. However, the recognition of these covered revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope of Topic 606 are discussed below.

Trust and Asset Management

Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’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 customers’ accounts. The Company does not earn performance-based incentives. Optional services such as real estate sales and tax return preparation services are also available to existing trust and asset management customers. The Company’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.

Service Charges on Deposit Accounts

Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transaction based, and therefore, the Company’s performance obligation is satisfied and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts.

Fees, Exchange, and Other Service Charges

Fees, exchange, and other service charges are primarily comprised of debit card income, ATM fees, merchant services income, and other service charges. Debit card income is primarily comprised of interchange fees earned whenever the Company’s debit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Other service charges include revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month.

Annuity and Insurance

Annuity and insurance income primarily consists of commissions received on annuity product sales. The Company acts as an intermediary between the Company’s customer and the insurance carrier. The Company’s performance obligation is generally satisfied upon the issuance of the annuity policy. Shortly after the policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. The Company does not earn a significant amount of trailer fees on annuity sales. The majority of the trailer fees relates to variable annuity products and are calculated based on a percentage of market value at period end. Revenue is not recognized until the annuity’s market value can be determined.

Other

Other noninterest income consists of other recurring revenue streams such as commissions from sales of mutual funds and other investments, investment advisor fees from the Company’s Managed Account Platform Services (MAPS) wealth management product, safety deposit box rental fees, and other miscellaneous revenue streams. Commissions from the sale of mutual funds and other investments are recognized on trade date, which is when the Company has satisfied its performance obligation. The Company also receives periodic service fees (i.e., trailers) from mutual fund companies typically based on a percentage of net asset value. Trailer revenue is recorded over time, usually monthly or quarterly, as net asset value is determined. Investment advisor fees from the MAPS wealth management product is earned over time and based on an annual percentage rate of the net asset value. The investment advisor fees are charged to the customer’s account in advance on the first month of the quarter, and the revenue is recognized over the following three-month period. Safety deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation.

The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the three months ended March 31, 2020, and March 31, 2019.



		Three Months Ended March 31,
(dollars in thousands)		2020		2019
Noninterest Income
	In-scope of Topic 606:
	Trust and Asset Management	$	10,915	$	10,761
	Service Charges on Deposit Accounts	3,053		3,349
	Fees, Exchange, and Other Service Charges	10,518		11,552
	Annuity and Insurance	895		2,544
	Other	2,302		2,471
	Noninterest Income (in-scope of Topic 606)	27,683		30,677
	Noninterest Income (out-of-scope of Topic 606)	18,466		13,002
Total Noninterest Income		$	46,149	$	43,679

Contract Balances

A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of March 31, 2020, and December 31, 2019, the Company did not have any significant contract balances.

Contract Acquisition Costs

In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition cost.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates in the Preparation of Financial Statements

Variable Interest Entities

Accounting Standards Adopted in the Current Year

Accounting Standards Adopted in 2020



(dollars in thousands)	December 31, 2019		CECL Adoption Impact			January 1, 2020
Allowance for Credit Losses:
Commercial	$	73,801	$	(18,789	)	$	55,012
Consumer	36,226		17,052			53,278
Total Allowance for Credit Losses	110,027		(1,737		)	108,290
Reserve for Unfunded Commitments	6,822		(3,335		)	3,487
Total Reserve for Credit Losses	$	116,849	$	(5,072	)	$	111,777

Retained Earnings
Total Pre-tax Impact			$	5,072
Tax Effect			(1,440		)
Increase to Retained Earnings			$	3,632

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

is “Day 1” impact of CECL adoption is summarized below:



(dollars in thousands)	December 31, 2019		CECL Adoption Impact			January 1, 2020
Allowance for Credit Losses:
Commercial	$	73,801	$	(18,789	)	$	55,012
Consumer	36,226		17,052			53,278
Total Allowance for Credit Losses	110,027		(1,737		)	108,290
Reserve for Unfunded Commitments	6,822		(3,335		)	3,487
Total Reserve for Credit Losses	$	116,849	$	(5,072	)	$	111,777

Retained Earnings
Total Pre-tax Impact			$	5,072
Tax Effect			(1,440		)
Increase to Retained Earnings			$	3,632

Cash and Cash Equivalents (Tables)

3 Months Ended

Mar. 31, 2020

Cash and Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents



(dollars in thousands)	March 31, 2020		December 31, 2019
Interest-Bearing Deposits in Other Banks	$	6,346	$	4,979
Funds Sold	96,898		254,574
Cash and Due From Banks	453,465		299,105
Total Cash and Cash Equivalents	$	556,709	$	558,658

Investment Securities (Tables)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost, gross unrealized gains and losses, and fair value of investment securities

The amortized cost, gross unrealized gains and losses, and fair value of the Company’s investment securities as of March 31, 2020, and December 31, 2019, were as follows:



(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2020
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	202,065	$	262	$	(1,238	)	$	201,089
Debt Securities Issued by States and Political Subdivisions	53,981		1,043		(1		)	55,023
Debt Securities Issued by U.S. Government-Sponsored Enterprises	936		76		—			1,012
Debt Securities Issued by Corporations	274,353		1,969		(5,146		)	271,176
Mortgage-Backed Securities:
Residential - Government Agencies	1,159,266		41,360		(1,412		)	1,199,214
Residential - U.S. Government-Sponsored Enterprises	635,161		26,178		(166		)	661,173
Commercial - Government Agencies	287,441		5,790		(869		)	292,362
Total Mortgage-Backed Securities	2,081,868		73,328		(2,447		)	2,152,749
Total	$	2,613,203	$	76,678	$	(8,832	)	$	2,681,049
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	214,612	$	2,111	$	—		$	216,723
Debt Securities Issued by States and Political Subdivisions	54,543		1,017		—			55,560
Debt Securities Issued by Corporations	14,243		104		—			14,347
Mortgage-Backed Securities:
Residential - Government Agencies	994,405		38,678		(36		)	1,033,047
Residential - U.S. Government-Sponsored Enterprises	1,648,144		57,554		—			1,705,698
Commercial - Government Agencies	78,192		763		(310		)	78,645
Total Mortgage-Backed Securities	2,720,741		96,995		(346		)	2,817,390
Total	$	3,004,139	$	100,227	$	(346	)	$	3,104,020

December 31, 2019
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	222,365	$	213	$	(1,447	)	$	221,131
Debt Securities Issued by States and Political Subdivisions	54,480		631		(14		)	55,097
Debt Securities Issued by U.S. Government-Sponsored Enterprises	22,128		19		—			22,147
Debt Securities Issued by Corporations	335,553		1,401		(633		)	336,321
Mortgage-Backed Securities:
Residential - Government Agencies	1,164,466		11,627		(3,267		)	1,172,826
Residential - U.S. Government-Sponsored Enterprises	584,272		4,363		(1,874		)	586,761
Commercial - Government Agencies	224,372		2,889		(2,541		)	224,720
Total Mortgage-Backed Securities	1,973,110		18,879		(7,682		)	1,984,307
Total	$	2,607,636	$	21,143	$	(9,776	)	$	2,619,003
Held-to-Maturity:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	274,375	$	1,319	$	(31	)	$	275,663
Debt Securities Issued by States and Political Subdivisions	54,811		1,236		—			56,047
Debt Securities Issued by Corporations	14,975		—		(138		)	14,837
Mortgage-Backed Securities:
Residential - Government Agencies	1,067,416		13,247		(5,348		)	1,075,315
Residential - U.S. Government-Sponsored Enterprises	1,546,479		13,871		(2,478		)	1,557,872
Commercial - Government Agencies	84,238		317		(1,407		)	83,148
Total Mortgage-Backed Securities	2,698,133		27,435		(9,233		)	2,716,335
Total	$	3,042,294	$	29,990	$	(9,402	)	$	3,062,882

Analysis of the contractual maturities of investment securities



(dollars in thousands)	Amortized Cost		Fair Value
Available-for-Sale:
Due in One Year or Less	$	66,246	$	66,355
Due After One Year Through Five Years	96,977		95,275
Due After Five Years Through Ten Years	167,141		166,707
Due After Ten Years	50		51
	330,414		328,388

Debt Securities Issued by Government Agencies	200,921		199,912
Mortgage-Backed Securities:
Residential - Government Agencies	1,159,266		1,199,214
Residential - U.S. Government-Sponsored Enterprises	635,161		661,173
Commercial - Government Agencies	287,441		292,362
Total Mortgage-Backed Securities	2,081,868		2,152,749
Total	$	2,613,203	$	2,681,049

Held-to-Maturity:
Due in One Year or Less	$	234,892	$	237,171
Due After One Year Through Five Years	48,506		49,459
	283,398		286,630
Mortgage-Backed Securities:
Residential - Government Agencies	994,405		1,033,047
Residential - U.S. Government-Sponsored Enterprises	1,648,144		1,705,698
Commercial - Government Agencies	78,192		78,645
Total Mortgage-Backed Securities	2,720,741		2,817,390
Total	$	3,004,139	$	3,104,020

Schedule of gains (losses) on sale of investment securities

The table below presents the gains and losses from the sales of investment securities for the three months ended March 31, 2020, and March 31, 2019:



	Three Months Ended March 31,
(dollars in thousands)	2020			2019
Gross Gains on Sales of Investment Securities	$	77		$	2,030
Gross Losses on Sales of Investment Securities	(1,047		)	(2,865		)
Net Gains (Losses) on Sales of Investment Securities	$	(970	)	$	(835	)

Schedule of investment securities in an unrealized loss position



	Less Than 12 Months					12 Months or Longer					Total
(dollars in thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
March 31, 2020
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	97,978	$	(1,126	)	$	53,511	$	(112	)	$	151,489	$	(1,238	)
Debt Securities Issued by States and Political Subdivisions	—		—			355		(1		)	355		(1		)
Debt Securities Issued by Corporations	50,000		(644		)	100,866		(4,502		)	150,866		(5,146		)
Mortgage-Backed Securities:
Residential - Government Agencies	54,491		(1,072		)	65,155		(340		)	119,646		(1,412		)
Residential - U.S. Government-Sponsored Enterprises	—		—			10,994		(166		)	10,994		(166		)
Commercial - Government Agencies	51,105		(869		)	—		—			51,105		(869		)
Total Mortgage-Backed Securities	105,596		(1,941		)	76,149		(506		)	181,745		(2,447		)
Total	$	253,574	$	(3,711	)	$	230,881	$	(5,121	)	$	484,455	$	(8,832	)

December 31, 2019
Available-for-Sale:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	65,479	$	(188	)	$	101,761	$	(1,259	)	$	167,240	$	(1,447	)
Debt Securities Issued by States and Political Subdivisions	6,788		(14		)	440		—			7,228		(14		)
Debt Securities Issued by Corporations	25,892		(326		)	74,693		(307		)	100,585		(633		)
Mortgage-Backed Securities:
Residential - Government Agencies	119,271		(526		)	170,805		(2,741		)	290,076		(3,267		)
Residential - U.S. Government-Sponsored Enterprises	187,861		(816		)	73,720		(1,058		)	261,581		(1,874		)
Commercial - Government Agencies	59,826		(319		)	52,965		(2,222		)	112,791		(2,541		)
Total Mortgage-Backed Securities	366,958		(1,661		)	297,490		(6,021		)	664,448		(7,682		)
Total	$	465,117	$	(2,189	)	$	474,384	$	(7,587	)	$	939,501	$	(9,776	)

Schedule of interest income from taxable and non-taxable investment securities

Interest income from taxable and non-taxable investment securities for the three months ended March 31, 2020, and March 31, 2019, were as follows:



	Three Months Ended March 31,
(dollars in thousands)	2020		2019
Taxable	$	35,393	$	31,992
Non-Taxable	570		3,361
Total Interest Income from Investment Securities	$	35,963	$	35,353

Schedule of carrying value of company's Federal Home Loan Bank and Federal Reserve Bank

As of March 31, 2020, and December 31, 2019, the carrying value of the Company’s Federal Home Loan Bank of Des Moines stock and Federal Reserve Bank stock was as follows:



(dollars in thousands)	March 31, 2020		December 31, 2019
Federal Home Loan Bank Stock	$	15,000	$	13,000
Federal Reserve Bank Stock	21,198		21,093
Total	$	36,198	$	34,093

Loans and Leases and the Allowance for Loan and Lease Losses (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

Loans and Leases and Allowance for Loan and Lease Losses [Abstract]

Schedule of Loan and Lease Portfolio

The Company’s loan and lease portfolio was comprised of the following as of March 31, 2020, and December 31, 2019:



(dollars in thousands)	March 31, 2020		December 31, 2019
Commercial
Commercial and Industrial	$	1,558,232	$	1,379,152
Commercial Mortgage	2,616,243		2,518,051
Construction	245,390		194,170
Lease Financing	110,704		122,454
Total Commercial	4,530,569		4,213,827
Consumer
Residential Mortgage	3,928,183		3,891,100
Home Equity	1,692,154		1,676,073
Automobile	716,214		720,286
Other ¹	485,660		489,606
Total Consumer	6,822,211		6,777,065
Total Loans and Leases	$	11,352,780	$	10,990,892

Comprised of other revolving credit, installment, and lease financing.

Schedule of Portfolio Segment and Balance in Allowance Disaggregated on the Basis of Impairment Measurement Method

The following presents by portfolio segment, the activity in the Allowance for the three months ended March 31, 2020, and March 31, 2019.



(dollars in thousands)	Commercial			Consumer			Total
Three Months Ended March 31, 2020
Allowance for Credit Losses:
Balance at Beginning of Period (December 31, 2019)	$	73,801		$	36,226		$	110,027
CECL Adoption (Day 1) Impact	(18,789		)	17,052			(1,737		)
Balance at Beginning of Period (January 1, 2020)	55,012			53,278			108,290
Loans and Leases Charged-Off	(693		)	(6,484		)	(7,177		)
Recoveries on Loans and Leases Previously Charged-Off	329			3,108			3,437
Net Loans and Leases Recovered (Charged-Off)	(364		)	(3,376		)	(3,740		)
Provision for Credit Losses	13,339			20,261			33,600
Balance at End of Period	$	67,987		$	70,163		$	138,150

Three Months Ended March 31, 2019
Allowance for Credit Losses:
Balance at Beginning of Period	$	66,874		$	39,819		$	106,693
Loans and Leases Charged-Off	(1,986		)	(4,842		)	(6,828		)
Recoveries on Loans and Leases Previously Charged-Off	501			2,657			3,158
Net Loans and Leases Recovered (Charged-Off)	(1,485		)	(2,185		)	(3,670		)
Provision for Credit Losses	2,138			862			3,000
Balance at End of Period	$	67,527		$	38,496		$	106,023

Schedule of Recorded Investment in Loans and Leases by Class and by Credit Quality Indicator

The following presents by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of March 31, 2020.



	Term Loans by Origination Year
(dollars in thousands)	YTD March 31, 2020		2019		2018		2017		2016		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total Loans and Leases
March 31, 2020
Commercial
Commercial and Industrial
Pass	$	160,663	$	253,285	$	212,901	$	93,614	$	87,982	$	108,952	$	557,732	$	1,122	$	1,476,251
Special Mention	62		508		2,087		700		116		152		19,345		—		22,970
Classified	605		22,117		1,678		1,455		440		20,479		12,069		168		59,011
Total Commercial and Industrial	$	161,330	$	275,910	$	216,666	$	95,769	$	88,538	$	129,583	$	589,146	$	1,290	$	1,558,232
Commercial Mortgage
Pass	$	209,933	$	591,055	$	396,239	$	302,711	$	329,045	$	602,337	$	81,036	$	—	$	2,512,356
Special Mention	3,961		820		19,919		13,176		7,359		7,884		—		—		53,119
Classified	11,464		5,413		8,453		1,405		704		23,329		—		—		50,768
Total Commercial Mortgage	$	225,358	$	597,288	$	424,611	$	317,292	$	337,108	$	633,550	$	81,036	$	—	$	2,616,243
Construction
Pass	$	54,220	$	81,985	$	45,600	$	20,336	$	—	$	1,936	$	40,152	$	—	$	244,229
Classified	—		—		—		—		—		1,161		—		—		1,161
Total Construction	$	54,220	$	81,985	$	45,600	$	20,336	$	—	$	3,097	$	40,152	$	—	$	245,390
Lease Financing
Pass	$	2,785	$	23,324	$	16,762	$	5,767	$	12,007	$	48,527	$	—	$	—	$	109,172
Special Mention	—		—		—		2		34		—		—		—		36
Classified	38		80		1,206		59		113		—		—		—		1,496
Total Lease Financing	$	2,823	$	23,404	$	17,968	$	5,828	$	12,154	$	48,527	$	—	$	—	$	110,704
Total Commercial	$	443,731	$	978,587	$	704,845	$	439,225	$	437,800	$	814,757	$	710,334	$	1,290	$	4,530,569
Consumer
Residential Mortgage
Pass	$	212,313	$	704,271	$	445,511	$	625,159	$	678,049	$	1,258,545	$	—	$	—	$	3,923,848
Classified	—		—		—		932		—		3,403		—		—		4,335
Total Residential Mortgage	$	212,313	$	704,271	$	445,511	$	626,091	$	678,049	$	1,261,948	$	—	$	—	$	3,928,183
Home Equity
Pass	$	—	$	—	$	—	$	—	$	—	$	6,245	$	1,637,082	$	43,589	$	1,686,916
Classified	—		—		—		—		—		103		3,973		1,162		5,238
Total Home Equity	$	—	$	—	$	—	$	—	$	—	$	6,348	$	1,641,055	$	44,751	$	1,692,154
Automobile
Pass	$	63,914	$	265,516	$	208,273	$	98,987	$	51,746	$	26,912	$	—	$	—	$	715,348
Classified	—		182		166		257		179		82		—		—		866
Total Automobile	$	63,914	$	265,698	$	208,439	$	99,244	$	51,925	$	26,994	$	—	$	—	$	716,214
Other¹
Pass	$	45,414	$	181,911	$	123,803	$	68,751	$	17,783	$	6,098	$	39,053	$	1,643	$	484,456
Classified	—		326		326		302		119		44		79		8		1,204
Total Other	$	45,414	$	182,237	$	124,129	$	69,053	$	17,902	$	6,142	$	39,132	$	1,651	$	485,660
Total Consumer	$	321,641	$	1,152,206	$	778,079	$	794,388	$	747,876	$	1,301,432	$	1,680,187	$	46,402	$	6,822,211
Total Loans and Leases	$	765,372	$	2,130,793	$	1,482,924	$	1,233,613	$	1,185,676	$	2,116,189	$	2,390,521	$	47,692	$	11,352,780

Comprised of other revolving credit, installment, and lease financing.

The following presents by loan class and credit quality indicator, the recorded investment in the Company’s loans and leases as of December 31, 2019.



	December 31, 2019
(dollars in thousands)	Commercial and Industrial		Commercial Mortgage		Construction		Lease Financing		Total Commercial
Pass	$	1,306,040	$	2,463,858	$	188,832	$	120,933	$	4,079,663
Special Mention	37,722		16,453		4,148		—		58,323
Classified	35,390		37,740		1,190		1,521		75,841
Total	$	1,379,152	$	2,518,051	$	194,170	$	122,454	$	4,213,827

(dollars in thousands)	Residential Mortgage		Home Equity		Automobile		Other¹		Total Consumer
Pass	$	3,886,389	$	1,671,468	$	719,337	$	488,113	$	6,765,307
Classified	4,711		4,605		949		1,493		11,758
Total	$	3,891,100	$	1,676,073	$	720,286	$	489,606	$	6,777,065
Total Recorded Investment in Loans and Leases									$	10,990,892

Comprised of other revolving credit, installment, and lease financing.

Schedule of Aging Analysis by Class of Loan and Lease Portfolio

The following presents by class, an aging analysis of the Company’s loan and lease portfolio as of March 31, 2020, and December 31, 2019.



(dollars in thousands)	30 - 59 Days Past Due		60 - 89 Days Past Due		Past Due 90 Days or More		Non-Accrual		Total Past Due and Non-Accrual		Current		Total Loans and Leases		Non-Accrual Loans and Leases that are Current ²
As of March 31, 2020
Commercial
Commercial and Industrial	$	3,596	$	255	$	—	$	634	$	4,485	$	1,553,747	$	1,558,232	$	429
Commercial Mortgage	4,637		—		—		9,048		13,685		2,602,558		2,616,243		9,048
Construction	720		—		—		—		720		244,670		245,390		—
Lease Financing	23		—		—		—		23		110,681		110,704		—
Total Commercial	8,976		255		—		9,682		18,913		4,511,656		4,530,569		9,477
Consumer
Residential Mortgage	3,935		2,342		3,024		4,330		13,631		3,914,552		3,928,183		1,104
Home Equity	4,367		2,819		3,426		4,086		14,698		1,677,456		1,692,154		839
Automobile	14,590		4,096		866		—		19,552		696,662		716,214		—
Other ¹	3,648		1,905		1,205		—		6,758		478,902		485,660		—
Total Consumer	26,540		11,162		8,521		8,416		54,639		6,767,572		6,822,211		1,943
Total	$	35,516	$	11,417	$	8,521	$	18,098	$	73,552	$	11,279,228	$	11,352,780	$	11,420

As of December 31, 2019
Commercial
Commercial and Industrial	$	12,534	$	148	$	—	$	830	$	13,512	$	1,365,640	$	1,379,152	$	421
Commercial Mortgage	2,998		—		—		9,244		12,242		2,505,809		2,518,051		9,244
Construction	101		51		—		—		152		194,018		194,170		—
Lease Financing	720		—		—		—		720		121,734		122,454		—
Total Commercial	16,353		199		—		10,074		26,626		4,187,201		4,213,827		9,665
Consumer
Residential Mortgage	6,097		2,070		1,839		4,125		14,131		3,876,969		3,891,100		1,429
Home Equity	3,949		2,280		4,125		3,181		13,535		1,662,538		1,676,073		412
Automobile	16,067		4,154		949		—		21,170		699,116		720,286		—
Other ¹	3,498		2,074		1,493		—		7,065		482,541		489,606		—
Total Consumer	29,611		10,578		8,406		7,306		55,901		6,721,164		6,777,065		1,841
Total	$	45,964	$	10,777	$	8,406	$	17,380	$	82,527	$	10,908,365	$	10,990,892	$	11,506


¹	Comprised of other revolving credit, installment, and lease financing.

Represents non-accrual loans that are not past due 30 days or more; however, full payment of principal and interest is still not expected.

Schedule of Non-Accrual Loans and Leases

The following presents the non-accrual loans and leases as of March 31, 2020, and December 31, 2019.



	March 31, 2020						December 31, 2019
(dollars in thousands)	Nonaccrual loans with a related ACL		Nonaccrual loans without a related ACL		Total Nonaccrual loans		Total Nonaccrual loans
Commercial
Commercial and Industrial	$	634	$	—	$	634	$	830
Commercial Mortgage	3,543		5,505		9,048		9,244
Total Commercial	4,177		5,505		9,682		10,074
Consumer
Residential Mortgage	3,399		931		4,330		4,125
Home Equity	4,086		—		4,086		3,181
Total Consumer	7,485		931		8,416		7,306
Total	$	11,662	$	6,436	$	18,098	$	17,380

Schedule of Loans Modified in a TDR and TDRs that Defaulted During the Period Within 12 mos of Modification Date

The following presents by class, information related to loans modified in a TDR during the three months ended March 31, 2020, and March 31, 2019.



	Loans Modified as a TDR for the Three Months Ended March 31, 2020							Loans Modified as a TDR for the Three Months Ended March 31, 2019
			Recorded			Increase in				Recorded			Increase in
Troubled Debt Restructurings	Number of		Investment			Allowance		Number of		Investment			Allowance
(dollars in thousands)	Contracts	(as of period end)¹			(as of period end)			Contracts	(as of period end)¹			(as of period end)
Commercial
Commercial and Industrial	2		$	99		$	2	3		$	111		$	5
Commercial Mortgage	—		—			—		1		3,907			—
Total Commercial	2		99			2		4		4,018			5
Consumer
Automobile	52		893			14		117		2,240			34
Other ²	31		240			10		39		229			6
Total Consumer	83		1,133			24		156		2,469			40
Total	85		$	1,232		$	26	160		$	6,487		$	45


¹	The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid-off, charged-off, or foreclosed upon by period end are not included.


²	Comprised of other revolving credit and installment financing.



	Three Months Ended March 31, 2020			Three Months Ended March 31, 2019
TDRs that Defaulted During the Period,		Recorded		Recorded
Within Twelve Months of their Modification Date	Number of	Investment		Number of	Investment
(dollars in thousands)	Contracts	(as of period end)¹		Contracts	(as of period end)¹
Consumer
Automobile	18	$	176	14	$	266
Other ²	5	50		19	125
Total Consumer	23	226		33	391
Total	23	$	226	33	$	391


¹	The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid-off, charged-off, or foreclosed upon by period end are not included.

Comprised of other revolving credit and installment financing.

Mortgage Servicing Rights (Tables)

3 Months Ended

Mar. 31, 2020

Transfers and Servicing of Financial Assets [Abstract]

Analysis of mortgage servicing rights accounted for under the fair value measurement method



	Three Months Ended March 31,
(dollars in thousands)	2020			2019
Balance at Beginning of Period	$	1,126		$	1,290
Change in Fair Value:
Due to Payoffs	(25		)	(22		)
Total Changes in Fair Value of Mortgage Servicing Rights	(25		)	(22		)
Balance at End of Period	$	1,101		$	1,268

Analysis of mortgage servicing rights accounted for under the amortization method



	Three Months Ended March 31,
(dollars in thousands)	2020			2019
Balance at Beginning of Period	$	23,896		$	23,020
Servicing Rights that Resulted From Asset Transfers	1,165			551
Amortization	(1,112		)	(690		)
Valuation Allowance Provision	(2,513		)	—
Balance at End of Period	$	21,436		$	22,881

Valuation Allowance:
Balance at Beginning of Period	$	—		$	—
Valuation Allowance Provision	(2,513		)	—
Balance at End of Period	$	(2,513	)	$	—

Fair Value of Mortgage Servicing Rights Accounted for Under the Amortization Method
Beginning of Period	$	25,714		$	29,218
End of Period	$	21,436		$	26,814

Schedule of key data and assumptions used in estimating the fair value of mortgage servicing rights

The key data and assumptions used in estimating the fair value of the Company’s mortgage servicing rights as of March 31, 2020, and December 31, 2019, were as follows:



	March 31, 2020		December 31, 2019
Weighted-Average Constant Prepayment Rate ¹	14.93	%	10.76	%
Weighted-Average Life (in years)	4.88		6.20
Weighted-Average Note Rate	3.96	%	3.99	%
Weighted-Average Discount Rate ²	5.90	%	7.33	%


¹	Represents annualized loan prepayment rate assumption.

Derived from multiple interest rate scenarios that incorporate a spread to a market yield curve and market volatilities.

Schedule of sensitivity analysis of the fair value of mortgage servicing rights



(dollars in thousands)	March 31, 2020			December 31, 2019
Constant Prepayment Rate
Decrease in fair value from 25 basis points (“bps”) adverse change	$	(228	)	$	(296	)
Decrease in fair value from 50 bps adverse change	(452		)	(586		)
Discount Rate
Decrease in fair value from 25 bps adverse change	(204		)	(264		)
Decrease in fair value from 50 bps adverse change	(403		)	(522		)

Low Income Housing Tax Credit Partnerships (Tables)

3 Months Ended

Mar. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

As of March 31, 2020, the expected payments for unfunded affordable housing commitments were as follows:



(dollars in thousands)	Amount
2020	$	25,423
2021	5,310
2022	79
2023	55
2024	55
Thereafter	1,754
Total Unfunded Commitments	$	32,676

The following table presents tax credits and other tax benefits recognized and amortization expense related to affordable housing for the three months ended March 31, 2020, and March 31, 2019.



	Three Months Ended March 31,
(dollars in thousands)	2020		2019
Effective Yield Method
Tax credits and other tax benefits recognized	$	2,938	$	2,930
Amortization Expense in Provision for Income Taxes	2,147		1,891

Proportional Amortization Method
Tax credits and other tax benefits recognized	$	1,523	$	753
Amortization Expense in Provision for Income Taxes	1,318		645

Balance Sheet Offsetting (Tables)

3 Months Ended

Mar. 31, 2020

Offsetting [Abstract]

Schedule of Repurchase Agreements - by maturity date and collateral type



	Remaining Contractual Maturity of Repurchase Agreements
(dollars in thousands)	Up to 90 days		91-365 days		1-3 Years		After 3 Years		Total
March 31, 2020
Class of Collateral Pledged:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	—	$	—	$	199,173	$	38,065	$	237,238
Debt Securities Issued by States and Political Subdivisions	—		1,200		—		490		1,690
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,516		25,827		88,391		115,734
Residential - U.S. Government-Sponsored Enterprises	—		—		—		248,544		248,544
Total	$	—	$	2,716	$	225,000	$	375,490	$	603,206

December 31, 2019
Class of Collateral Pledged:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	—	$	—	$	199,173	$	38,065	$	237,238
Debt Securities Issued by States and Political Subdivisions	1,200		1,100		—		490		2,790
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,516		25,827		88,391		115,734
Residential - U.S. Government-Sponsored Enterprises	—		—		—		248,544		248,544
Total	$	1,200	$	2,616	$	225,000	$	375,490	$	604,306

Schedule of assets and liabilities subject to an enforceable master netting arrangement



	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v) = (iii)-(iv)
	Gross Amounts Recognized in the Statements of Condition		Gross Amounts Offset in the Statements of Condition		Net Amounts Presented in the Statements of Condition		Gross Amounts Not Offset in the Statements of Condition
(dollars in thousands)							Netting Adjustments per Master Netting Arrangements		Fair Value of Collateral Pledged/Received ¹		Net Amount
March 31, 2020
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	36	$	—	$	36	$	36	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	18,947		—		18,947		36		8,955		9,956

Repurchase Agreements:
Private Institutions	600,000		—		600,000		—		600,000		—
Government Entities	3,206		—		3,206		—		3,206		—
	$	603,206	$	—	$	603,206	$	—	$	603,206	$	—

December 31, 2019
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	584	$	—	$	584	$	584	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	5,361		—		5,361		584		3,818		959

Repurchase Agreements:
Private Institutions	600,000		—		600,000		—		600,000		—
Government Entities	4,306		—		4,306		—		4,306		—
	$	604,306	$	—	$	604,306	$	—	$	604,306	$	—

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2020

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Components of other comprehensive income

The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2020, and March 31, 2019:



(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Three Months Ended March 31, 2020
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	56,556		$	14,989		$	41,567
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale	(77		)	(21		)	$	(56	)
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities ¹	65			17			48
Net Unrealized Gains (Losses) on Investment Securities	56,544			14,985			41,559
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)	570			152			418
Amortization of Prior Service Credit	(61		)	(17		)	(44		)
Defined Benefit Plans, Net	509			135			374
Other Comprehensive Income (Loss)	$	57,053		$	15,120		$	41,933

Three Months Ended March 31, 2019
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	8,952		$	2,371		$	6,581
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale	64			17			$	47
Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities ¹	396			105			291
Net Unrealized Gains (Losses) on Investment Securities	9,412			2,493			6,919
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)	406			107			299
Amortization of Prior Service Credit	(72		)	(19		)	(53		)
Defined Benefit Plans, Net	334			88			246
Other Comprehensive Income (Loss)	$	9,746		$	2,581		$	7,165

The amount relates to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available-for-sale investment securities to the held-to-maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.

Schedule of accumulated other comprehensive income (loss)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2020, and March 31, 2019:



(dollars in thousands)	Investment Securities-Available-for-Sale			Investment Securities-Held-to-Maturity			Defined Benefit Plans			Accumulated Other Comprehensive Income (Loss)
Three Months Ended March 31, 2020
Balance at Beginning of Period	$	8,359		$	(715	)	$	(38,756	)	$	(31,112	)
Other Comprehensive Income (Loss) Before Reclassifications	41,567			—			—			41,567
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	(56		)	48			374			366
Total Other Comprehensive Income (Loss)	41,511			48			374			41,933
Balance at End of Period	$	49,870		$	(667	)	$	(38,382	)	$	10,821

Three Months Ended March 31, 2019
Balance at Beginning of Period	$	(10,447	)	$	(4,586	)	$	(36,010	)	$	(51,043	)
Other Comprehensive Income (Loss) Before Reclassifications	6,581			—			—			6,581
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	47			291			246			584
Total Other Comprehensive Income (Loss)	6,628			291			246			7,165
Balance at End of Period	$	(3,819	)	$	(4,295	)	$	(35,764	)	$	(43,878	)

Reclassification out of accumulated other comprehensive income

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2020, and March 31, 2019:



Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)¹						Affected Line Item in the Statement Where Net Income Is Presented
	Three Months Ended March 31,
(dollars in thousands)	2020			2019
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(65	)	$	(396	)	Interest Income
	17			105			Provision for Income Tax
	(48		)	(291		)	Net of Tax
Sale of Investment Securities Available-for-Sale	77			(64		)	Investment Securities Gains (Losses), Net
	(21		)	17			Provision for Income Tax
	56			(47		)	Net of tax

Amortization of Defined Benefit Plan Items
Prior Service Credit ²	61			72
Net Actuarial Losses ²	(570		)	(406		)
	(509		)	(334		)	Total Before Tax
	135			88			Provision for Income Tax
	(374		)	(246		)	Net of Tax

Total Reclassifications for the Period	$	(366	)	$	(584	)	Net of Tax


¹	Amounts in parentheses indicate reductions to net income.

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Reconciliation of the weighted average number of common shares outstanding for computing diluted earnings per share and antidilutive stock options and restricted stock outstanding

The following is a reconciliation of the weighted average number of common shares outstanding for computing diluted earnings per share and antidilutive stock options and restricted stock outstanding for the three months ended March 31, 2020, and March 31, 2019:



	Three Months Ended March 31,
	2020	2019
Denominator for Basic Earnings Per Share	39,681,611	40,938,318
Dilutive Effect of Equity Based Awards	235,375	275,135
Denominator for Diluted Earnings Per Share	39,916,986	41,213,453

Antidilutive Stock Options and Restricted Stock Outstanding	106,602	102,394

Business Segments (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Selected Business Segment Financial Information

Selected business segment financial information as of and for the three months ended March 31, 2020, and March 31, 2019, were as follows:



(dollars in thousands)	Consumer			Commercial			Treasury and Other			Consolidated Total
Three Months Ended March 31, 2020
Net Interest Income	$	73,661		$	45,986		$	6,319		$	125,966
Provision for Credit Losses	3,545			290			29,765			33,600
Net Interest Income After Provision for Credit Losses	70,116			45,696			(23,446		)	92,366
Noninterest Income	32,590			11,735			1,824			46,149
Noninterest Expense	(70,900		)	(17,298		)	(8,114		)	(96,312		)
Income Before Provision for Income Taxes	31,806			40,133			(29,736		)	42,203
Provision for Income Taxes	(7,984		)	(9,760		)	10,283			(7,461		)
Net Income	$	23,822		$	30,373		$	(19,453	)	$	34,742
Total Assets as of March 31, 2020	$	7,385,185		$	4,584,040		$	6,573,008		$	18,542,233

Three Months Ended March 31, 2019 ¹
Net Interest Income	$	76,352		$	47,290		$	1,195		$	124,837
Provision for Credit Losses	2,224			1,446			(670		)	3,000
Net Interest Income After Provision for Credit Losses	74,128			45,844			1,865			121,837
Noninterest Income	34,478			7,061			2,140			43,679
Noninterest Expense	(69,427		)	(20,955		)	(2,675		)	(93,057		)
Income Before Provision for Income Taxes	39,179			31,950			1,330			72,459
Provision for Income Taxes	(9,834		)	(6,002		)	2,176			(13,660		)
Net Income	$	29,345		$	25,948		$	3,506		$	58,799
Total Assets as of March 31, 2019 ¹	$	6,796,106		$	4,004,176		$	6,646,131		$	17,446,413

¹ Certain prior period information has been reclassified to conform to current presentation.

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of the notional amount and fair value of the derivative financial instruments

The notional amount and fair value of the Company’s derivative financial instruments as of March 31, 2020, and December 31, 2019, were as follows:



	March 31, 2020						December 31, 2019
(dollars in thousands)	Notional Amount			Fair Value			Notional Amount			Fair Value
Interest Rate Lock Commitments		$	82,433	$	3,930			$	48,677	$	1,280
Forward Commitments		75,861		(1,247		)		82,735		(182		)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,035,227		95,661				802,389		26,070
Pay Fixed/Receive Variable Swaps		1,035,227		(18,911		)		802,389		(4,777		)
Foreign Exchange Contracts		88,211		107				85,499		163
Conversion Rate Swap Agreement		98,180		—				114,499		—

Derivative financial instruments, their fair values, and balance sheet location



Derivative Financial Instruments	March 31, 2020				December 31, 2019
Not Designated as Hedging Instruments ¹	Asset		Liability		Asset		Liability
(dollars in thousands)	Derivatives		Derivatives		Derivatives		Derivatives
Interest Rate Lock Commitments	$	3,930	$	—	$	1,280	$	—
Forward Commitments	52		1,299		23		205
Interest Rate Swap Agreements	95,918		19,168		27,344		6,051
Foreign Exchange Contracts	691		584		284		121
Total	$	100,591	$	21,051	$	28,931	$	6,377

Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition.

Derivative financial instruments and the amount and location of the net gains or losses recognized in the statements of income



	Location of
Derivative Financial Instruments	Net Gains (Losses)	Three Months Ended
Not Designated as Hedging Instruments	Recognized in the	March 31,
(dollars in thousands)	Statements of Income	2020			2019
Interest Rate Lock Commitments	Mortgage Banking	$	6,303		$	1,725
Forward Commitments	Mortgage Banking	(2,184		)	(592		)
Interest Rate Swap Agreements	Other Noninterest Income	6,438			1,136
Foreign Exchange Contracts	Other Noninterest Income	714			914
Total		$	11,271		$	3,183

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

Pension Plans and Postretirement Benefit Plan (Tables)

3 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

Schedule of components of net periodic benefit cost



	Pension Benefits						Postretirement Benefits
(dollars in thousands)	2020			2019			2020			2019
Three Months Ended March 31,
Service Cost	$	—		$	—		$	151		$	118
Interest Cost	900			1,094			231			258
Expected Return on Plan Assets	(1,258		)	(1,249		)	—			—
Amortization of:
Prior Service Credit	—			—			(61		)	(72		)
Net Actuarial Losses (Gains)	570			484			—			(78		)
Net Periodic Benefit Cost	$	212		$	329		$	321		$	226

Commitments, Contingencies, and Guarantees (Tables)

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Credit commitments

The Company’s credit commitments as of March 31, 2020, and December 31, 2019, were as follows:



(dollars in thousands)	March 31, 2020		December 31, 2019
Unfunded Commitments to Extend Credit	$	2,579,748	$	2,713,937
Standby Letters of Credit	83,175		81,000
Commercial Letters of Credit	15,870		16,981
Total Credit Commitments	$	2,678,793	$	2,811,918

Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Balances of assets and liabilities measured at fair value on a recurring basis

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2020, and December 31, 2019:



	Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
(dollars in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
March 31, 2020
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	1,176	$	199,913	$	—	$	201,089
Debt Securities Issued by States and Political Subdivisions	—		55,023		—		55,023
Debt Securities Issued by U.S. Government-Sponsored Enterprises	—		1,012		—		1,012
Debt Securities Issued by Corporations	—		271,176		—		271,176
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,199,214		—		1,199,214
Residential - U.S. Government-Sponsored Enterprises	—		661,173		—		661,173
Commercial - Government Agencies	—		292,362		—		292,362
Total Mortgage-Backed Securities	—		2,152,749		—		2,152,749
Total Investment Securities Available-for-Sale	1,176		2,679,873		—		2,681,049
Loans Held for Sale	—		20,789		—		20,789
Mortgage Servicing Rights	—		—		1,101		1,101
Other Assets	42,844		—		—		42,844
Derivatives ¹	—		743		99,848		100,591
Total Assets Measured at Fair Value on a Recurring Basis as of March 31, 2020	$	44,020	$	2,701,405	$	100,949	$	2,846,374

Liabilities:
Derivatives ¹	$	—	$	1,883	$	19,168	$	21,051
Total Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2020	$	—	$	1,883	$	19,168	$	21,051

December 31, 2019
Assets:
Investment Securities Available-for-Sale
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	1,155	$	219,976	$	—	$	221,131
Debt Securities Issued by States and Political Subdivisions	—		55,097		—		55,097
Debt Securities Issued by U.S. Government-Sponsored Enterprises	—		22,147		—		22,147
Debt Securities Issued by Corporations	—		336,321		—		336,321
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,172,826		—		1,172,826
Residential - U.S. Government-Sponsored Enterprises	—		586,761		—		586,761
Commercial - Government Agencies	—		224,720		—		224,720
Total Mortgage-Backed Securities	—		1,984,307		—		1,984,307
Total Investment Securities Available-for-Sale	1,155		2,617,848		—		2,619,003
Loans Held for Sale	—		39,062		—		39,062
Mortgage Servicing Rights	—		—		1,126		1,126
Other Assets	41,464		—		—		41,464
Derivatives ¹	—		308		28,623		28,931
Total Assets Measured at Fair Value on a Recurring Basis as of December 31, 2019	$	42,619	$	2,657,218	$	29,749	$	2,729,586

Liabilities:
Derivatives ¹	$	—	$	327	$	6,050	$	6,377
Total Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2019	$	—	$	327	$	6,050	$	6,377


¹	The fair value of each class of derivatives is shown in Note 12 Derivative Financial Instruments.

Changes in Level 3 assets and liabilities measured at fair value on a recurring basis

For the three months ended March 31, 2020, and March 31, 2019, the changes in Level 3 assets and liabilities measured at fair value on a recurring basis were as follows:



(dollars in thousands)	Mortgage Servicing Rights ¹			Net Derivative Assets and Liabilities ²
Three Months Ended March 31, 2020
Balance as of January 1, 2020	$	1,126		$	22,573
Realized and Unrealized Net Gains (Losses):
Included in Net Income	(25		)	6,172
Transfers to Loans Held for Sale	—			(3,653		)
Variation Margin Payments	—			55,588
Balance as of March 31, 2020	$	1,101		$	80,680
Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held as of March 31, 2020	$	—		$	80,680

Three Months Ended March 31, 2019
Balance as of January 1, 2019	$	1,290		$	4,416
Realized and Unrealized Net Gains (Losses):
Included in Net Income	(22		)	1,715
Transfers to Loans Held for Sale	—			(1,498		)
Variation Margin Payments	—			4,542
Balance as of March 31, 2019	$	1,268		$	9,175
Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held as of March 31, 2019	$	—		$	9,175


¹	Realized and unrealized gains and losses related to mortgage servicing rights are reported as a component of mortgage banking income in the Company’s consolidated statements of income.

Realized and unrealized gains and losses related to interest rate lock commitments are reported as a component of mortgage banking income in the Company’s consolidated statements of income. Realized and unrealized gains and losses related to interest rate swap agreements are reported as a component of other noninterest income in the Company’s consolidated statements of income.

Summary of the significant unobservable inputs



		March 31, 2020										December 31, 2019
(dollars in thousands)	Valuation Technique	Description	Range					Weighted Average ¹		Fair Value		Weighted Average ¹		Fair Value
Mortgage Servicing Rights	Discounted Cash Flow	Constant Prepayment Rate	9.57	%	-	16.76	%	14.93	%	$	22,537	10.76	%	$	26,840
		Discount Rate	5.88	%	-	6.44	%	5.90	%			7.33	%

Net Derivative Assets and Liabilities:
Interest Rate Lock Commitments	Pricing Model	Closing Ratio	75.40	%	-	99.00	%	87.46	%	$	3,930	92.24	%	$	1,280
Interest Rate Swap Agreements	Discounted Cash Flow	Credit Factor	0.02	%	-	0.61	%	0.19	%	$	76,750	0.20	%	$	21,293


¹	Unobservable inputs for mortgage servicing rights and interest rate lock commitments were weighted by loan amount. Unobservable inputs for interest rate swap agreements were weighted by fair value.

Assets and liabilities measured at fair value on a nonrecurring basis

December 31, 2019.



(dollars in thousands)	Fair Value Hierarchy	Net Carrying Amount		Valuation Allowance
March 31, 2020
Mortgage Servicing Rights - amortization method	Level 3	$	21,436	$	(2,513	)

Schedule of difference between the aggregate fair value and the aggregate unpaid principal balance of the Company's residential mortgage loans held for sale



(dollars in thousands)	Aggregate Fair Value		Aggregate Unpaid Principal			Aggregate Fair Value Less Aggregate Unpaid Principal
March 31, 2020
Loans Held for Sale	$	20,789		$	13,848		$	6,941

December 31, 2019
Loans Held for Sale	$	39,062		$	38,293		$	769

Schedule of carrying amount, fair value, and fair value hierarchy of financial instruments



					Fair Value Measurements
	Carrying				Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Other Observable Inputs		Significant Unobservable Inputs
(dollars in thousands)	Amount		Fair Value		(Level 1)		(Level 2)		(Level 3)
March 31, 2020
Financial Instruments - Assets
Investment Securities Held-to-Maturity	$	3,004,139	$	3,104,020	$	216,723	$	2,887,297	$	—
Loans ¹	11,013,610		11,548,639		—		—		11,548,639

Financial Instruments - Liabilities
Time Deposits	1,744,812		1,754,741		—		1,754,741		—
Securities Sold Under Agreements to Repurchase	603,206		651,276		—		651,276		—
Other Debt ²	50,000		50,800		—		50,800		—

December 31, 2019
Financial Instruments - Assets
Investment Securities Held-to-Maturity	$	3,042,294	$	3,062,882	$	275,663	$	2,787,219	$	—
Loans ¹	10,664,885		10,873,208		—		—		10,873,208

Financial Instruments - Liabilities
Time Deposits	1,802,431		1,800,773		—		1,800,773		—
Securities Sold Under Agreements to Repurchase	604,306		627,780		—		627,780		—
Other Debt ²	75,000		75,581		—		75,581		—


¹	Carrying amount is net of unearned income and the Allowance.


²	Excludes finance lease obligations.

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the three months ended March 31, 2020, and March 31, 2019.



		Three Months Ended March 31,
(dollars in thousands)		2020		2019
Noninterest Income
	In-scope of Topic 606:
	Trust and Asset Management	$	10,915	$	10,761
	Service Charges on Deposit Accounts	3,053		3,349
	Fees, Exchange, and Other Service Charges	10,518		11,552
	Annuity and Insurance	895		2,544
	Other	2,302		2,471
	Noninterest Income (in-scope of Topic 606)	27,683		30,677
	Noninterest Income (out-of-scope of Topic 606)	18,466		13,002
Total Noninterest Income		$	46,149	$	43,679

Summary of Significant Accounting Policies (Variable Interest Entities) (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Unfunded commitments to fund low-income housing partnerships	$ 32,676
Other Assets
Variable Interest Entity [Line Items]
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets	100,500	$ 84,600
Other Liabilities
Variable Interest Entity [Line Items]
Unfunded commitments to fund low-income housing partnerships	$ 32,700	$ 21,300
Low-income housing partnerships
Variable Interest Entity [Line Items]
Period over which Federal tax credits or benefits are generally recognized (in years)	10 years
Period over which State tax credits or benefits are generally recognized (in years)	5 years
Solar energy partnerships [Member]
Variable Interest Entity [Line Items]
Period over which Federal tax credits or benefits are generally recognized (in years)	6 years

Summary of Significant Accounting Policies (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	Jan. 01, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses		$ 138,150		$ 106,023	$ 106,693
Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses			$ 110,027
Reserve for Unfunded Commitments			6,822
Total Reserve for Credit Losses			116,849
Accounting Standards Update 2016-13 \| CECL Adoption Impact
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses	$ (1,737)
Reserve for Unfunded Commitments	(3,335)
Total Reserve for Credit Losses	(5,072)
Retained Earnings
Total Pre-tax Impact	5,072
Tax Effect	(1,440)
Increase to Retained Earnings	3,632
Accounting Standards Update 2016-13 \| January 1, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses	108,290
Reserve for Unfunded Commitments	3,487
Total Reserve for Credit Losses	111,777
Commercial Loan \| Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses			73,801
Commercial Loan \| Accounting Standards Update 2016-13 \| CECL Adoption Impact
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses	(18,789)
Commercial Loan \| Accounting Standards Update 2016-13 \| January 1, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses	55,012
Consumer Loan \| Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses			$ 36,226
Consumer Loan \| Accounting Standards Update 2016-13 \| CECL Adoption Impact
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses	17,052
Consumer Loan \| Accounting Standards Update 2016-13 \| January 1, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Allowance for Credit Losses	$ 53,278

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Abstract]
Interest-Bearing Deposits in Other Banks	$ 6,346	$ 4,979
Funds Sold	96,898	254,574
Cash and Due From Banks	453,465	299,105
Total Cash and Cash Equivalents	$ 556,709	$ 558,658

Investment Securities (Amortization Cost, Gross Unrealized Gains/Losses, and Fair Value) (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Available-for-Sale:
Available-for-Sale: Amortized Cost	$ 2,613,203	$ 2,607,636
Available-for-Sale: Gross Unrealized Gains	76,678	21,143
Available-for-Sale: Gross Unrealized Losses	(8,832)	(9,776)
Available-for-Sale	2,681,049	2,619,003
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Held-to-Maturity: Amortized Cost	3,004,139	3,042,294
Held-to-Maturity: Gross Unrealized Gains	100,227	29,990
Held-to-Maturity: Gross Unrealized Losses	(346)	(9,402)
Held-to-Maturity: Fair Value	3,104,020	3,062,882
Debt Securities Issued by Government-Sponsored Enterprises
Available-for-Sale:
Available-for-Sale: Amortized Cost	936	22,128
Available-for-Sale: Gross Unrealized Gains	76	19
Available-for-Sale: Gross Unrealized Losses	0	0
Available-for-Sale	1,012	22,147
Residential - Government Agencies
Available-for-Sale:
Available-for-Sale: Amortized Cost	1,159,266	1,164,466
Available-for-Sale: Gross Unrealized Gains	41,360	11,627
Available-for-Sale: Gross Unrealized Losses	(1,412)	(3,267)
Available-for-Sale	1,199,214	1,172,826
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Held-to-Maturity: Amortized Cost	994,405	1,067,416
Held-to-Maturity: Gross Unrealized Gains	38,678	13,247
Held-to-Maturity: Gross Unrealized Losses	(36)	(5,348)
Held-to-Maturity: Fair Value	1,033,047	1,075,315
Residential - U.S. Government-Sponsored Enterprises
Available-for-Sale:
Available-for-Sale: Amortized Cost	635,161	584,272
Available-for-Sale: Gross Unrealized Gains	26,178	4,363
Available-for-Sale: Gross Unrealized Losses	(166)	(1,874)
Available-for-Sale	661,173	586,761
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Held-to-Maturity: Amortized Cost	1,648,144	1,546,479
Held-to-Maturity: Gross Unrealized Gains	57,554	13,871
Held-to-Maturity: Gross Unrealized Losses	0	(2,478)
Held-to-Maturity: Fair Value	1,705,698	1,557,872
Commercial - Government Agencies
Available-for-Sale:
Available-for-Sale: Amortized Cost	287,441	224,372
Available-for-Sale: Gross Unrealized Gains	5,790	2,889
Available-for-Sale: Gross Unrealized Losses	(869)	(2,541)
Available-for-Sale	292,362	224,720
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Held-to-Maturity: Amortized Cost	78,192	84,238
Held-to-Maturity: Gross Unrealized Gains	763	317
Held-to-Maturity: Gross Unrealized Losses	(310)	(1,407)
Held-to-Maturity: Fair Value	78,645	83,148
Mortgage-Backed Securities
Available-for-Sale:
Available-for-Sale: Amortized Cost	2,081,868	1,973,110
Available-for-Sale: Gross Unrealized Gains	73,328	18,879
Available-for-Sale: Gross Unrealized Losses	(2,447)	(7,682)
Available-for-Sale	2,152,749	1,984,307
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Held-to-Maturity: Amortized Cost	2,720,741	2,698,133
Held-to-Maturity: Gross Unrealized Gains	96,995	27,435
Held-to-Maturity: Gross Unrealized Losses	(346)	(9,233)
Held-to-Maturity: Fair Value	2,817,390	2,716,335
Debt Securities Issued by the U.S. Treasury and Government Agencies
Available-for-Sale:
Available-for-Sale: Amortized Cost	202,065	222,365
Available-for-Sale: Gross Unrealized Gains	262	213
Available-for-Sale: Gross Unrealized Losses	(1,238)	(1,447)
Available-for-Sale	201,089	221,131
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Held-to-Maturity: Amortized Cost	214,612	274,375
Held-to-Maturity: Gross Unrealized Gains	2,111	1,319
Held-to-Maturity: Gross Unrealized Losses	0	(31)
Held-to-Maturity: Fair Value	216,723	275,663
Debt Securities Issued by States and Political Subdivisions
Available-for-Sale:
Available-for-Sale: Amortized Cost	53,981	54,480
Available-for-Sale: Gross Unrealized Gains	1,043	631
Available-for-Sale: Gross Unrealized Losses	(1)	(14)
Available-for-Sale	55,023	55,097
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Held-to-Maturity: Amortized Cost	54,543	54,811
Held-to-Maturity: Gross Unrealized Gains	1,017	1,236
Held-to-Maturity: Gross Unrealized Losses	0	0
Held-to-Maturity: Fair Value	55,560	56,047
Debt Securities Issued by Corporations
Available-for-Sale:
Available-for-Sale: Amortized Cost	274,353	335,553
Available-for-Sale: Gross Unrealized Gains	1,969	1,401
Available-for-Sale: Gross Unrealized Losses	(5,146)	(633)
Available-for-Sale	271,176	336,321
Debt Securities, Held-to-maturity, Fair Value to Amortized Cost [Abstract]
Held-to-Maturity: Amortized Cost	14,243	14,975
Held-to-Maturity: Gross Unrealized Gains	104	0
Held-to-Maturity: Gross Unrealized Losses	0	(138)
Held-to-Maturity: Fair Value	$ 14,347	$ 14,837

Loans and Leases and the Allowance for Loan and Lease Losses (Loans and Leases Portfolio and Narrative) (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 01, 2020	Dec. 31, 2019
Loan and lease portfolio
Loans and Leases	$ 11,352,780			$ 10,990,892
Net gains related to sales of residential mortgage loans	3,200	$ 500
Commercial
Loan and lease portfolio
Loans and Leases	4,530,569			4,213,827
Commercial \| Commercial and Industrial
Loan and lease portfolio
Loans and Leases	1,558,232			1,379,152
Commercial \| Commercial Mortgage
Loan and lease portfolio
Loans and Leases	2,616,243			2,518,051
Commercial \| Construction
Loan and lease portfolio
Loans and Leases	245,390			194,170
Commercial \| Lease Financing
Loan and lease portfolio
Loans and Leases	110,704			122,454
Consumer
Loan and lease portfolio
Loans and Leases	6,822,211			6,777,065
Consumer \| Residential Mortgage
Loan and lease portfolio
Loans and Leases	3,928,183			3,891,100
Consumer \| Home Equity
Loan and lease portfolio
Loans and Leases	1,692,154			1,676,073
Consumer \| Automobile
Loan and lease portfolio
Loans and Leases	716,214			720,286
Consumer \| Other
Loan and lease portfolio
Loans and Leases	485,660			489,606
Accrued Interest Receivable
Loan and lease portfolio
Accrued interest receivable	$ 30,900			$ 30,700
Accounting Standards Update 2016-13 \| CECL Adoption Impact
Loan and lease portfolio
Additional decrease in cumulative adjustment			$ 1,700

Investment Securities (Contractual Maturities and Narrative) (Details 2) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis Rolling Maturity[Abstract]
Due in One Year or Less	$ 66,246
Due After One Year Through Five Years	96,977
Due After Five Years Through Ten Years	167,141
Due After Ten Years	50
Amortized Cost, Total	330,414
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Due in One Year or Less	66,355
Due After One Year Through Five Years	95,275
Due After Five Years Through Ten Years	166,707
Due After Ten Years	51
Fair Value, Total	328,388
Available-for-Sale: Amortized Cost	2,613,203	$ 2,607,636
Available-for-Sale: Fair Value	2,681,049	2,619,003
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis, Rolling Maturities (Abstract]
Due in One Year or Less	234,892
Due After One Year Through Five Years	48,506
Amortized Cost, Total	283,398
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Due in One Year or Less	237,171
Due After One Year Through Five Years	49,459
Fair Value, Total	286,630
Held-to-Maturity: Amortized Cost	3,004,139
Held-to-Maturity: Fair Value	3,104,020	3,062,882
Carrying value of investment securities which were pledged to secure deposits of gov't entities and repos	3,400,000	2,600,000
Debt Securities Issued by Government Agencies
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Amortized Cost	200,921
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	199,912
Debt Securities Issued by Government-Sponsored Enterprises
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-Sale: Amortized Cost	936	22,128
Available-for-Sale: Fair Value	1,012	22,147
Residential - Government Agencies
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Amortized Cost	1,159,266
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	1,199,214
Available-for-Sale: Amortized Cost	1,159,266	1,164,466
Available-for-Sale: Fair Value	1,199,214	1,172,826
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Held-to-Maturity: Mortgage-Backed Securities: Amortized Cost	994,405
Held-to-Maturity: Mortgage-Backed Securities: Fair Value	1,033,047
Held-to-Maturity: Fair Value	1,033,047	1,075,315
Residential - U.S. Government-Sponsored Enterprises
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Amortized Cost	635,161
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	661,173
Available-for-Sale: Amortized Cost	635,161	584,272
Available-for-Sale: Fair Value	661,173	586,761
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Held-to-Maturity: Mortgage-Backed Securities: Amortized Cost	1,648,144
Held-to-Maturity: Mortgage-Backed Securities: Fair Value	1,705,698
Held-to-Maturity: Fair Value	1,705,698	1,557,872
Commercial - Government Agencies
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Amortized Cost	287,441
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	292,362
Available-for-Sale: Amortized Cost	287,441	224,372
Available-for-Sale: Fair Value	292,362	224,720
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Held-to-Maturity: Mortgage-Backed Securities: Amortized Cost	78,192
Held-to-Maturity: Mortgage-Backed Securities: Fair Value	78,645
Held-to-Maturity: Fair Value	78,645	83,148
Mortgage-Backed Securities
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Rolling Maturities [Abstract]
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Amortized Cost	2,081,868
Available-for-sale Securities, Debt Securities Issued by Government Agencies and Mortgage-Backed Securities: Fair Value	2,152,749
Available-for-Sale: Amortized Cost	2,081,868	1,973,110
Available-for-Sale: Fair Value	2,152,749	1,984,307
Held-to-Maturity Securities, Debt Maturities, Single Maturity Date, Fair Value, Rolling Maturities [Abstract]
Held-to-Maturity: Mortgage-Backed Securities: Amortized Cost	2,720,741
Held-to-Maturity: Mortgage-Backed Securities: Fair Value	2,817,390
Held-to-Maturity: Fair Value	$ 2,817,390	$ 2,716,335

Loans and Leases and the Allowance for Loan and Lease Losses (Allowance for Loan and Lease Losses) (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Allowance for Loan and Lease Losses:
Balance at Beginning of Period		$ 106,693
Loans and Leases Charged-Off	$ (7,177)	(6,828)
Recoveries on Loans and Leases Previously Charged-Off	3,437	3,158
Net Loans and Leases Recovered (Charged-Off)	(3,740)	(3,670)
Provision for Credit Losses	33,600	3,000
Balance at End of Period	138,150	106,023
Commercial
Allowance for Loan and Lease Losses:
Balance at Beginning of Period		66,874
Loans and Leases Charged-Off	(693)	(1,986)
Recoveries on Loans and Leases Previously Charged-Off	329	501
Net Loans and Leases Recovered (Charged-Off)	(364)	(1,485)
Provision for Credit Losses	13,339	2,138
Balance at End of Period	67,987	67,527
Consumer
Allowance for Loan and Lease Losses:
Balance at Beginning of Period		39,819
Loans and Leases Charged-Off	(6,484)	(4,842)
Recoveries on Loans and Leases Previously Charged-Off	3,108	2,657
Net Loans and Leases Recovered (Charged-Off)	(3,376)	(2,185)
Provision for Credit Losses	20,261	862
Balance at End of Period	70,163	$ 38,496
Accounting Standards Update 2016-13
Allowance for Loan and Lease Losses:
Balance at Beginning of Period	110,027
Accounting Standards Update 2016-13 \| Commercial
Allowance for Loan and Lease Losses:
Balance at Beginning of Period	73,801
Accounting Standards Update 2016-13 \| Consumer
Allowance for Loan and Lease Losses:
Balance at Beginning of Period	$ 36,226

Investment Securities (Gains and Losses on Sales) (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Gain on Sale of Investments	$ 77	$ 2,030
Gain (Loss) on Sale of Investments	(970)	(835)
Loss on Sale of Investments	$ (1,047)	$ (2,865)

Loans and Leases and the Allowance for Loan and Lease Losses (Credit Quality Indicators by Year of Origination) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	$ 765,372
2019	2,130,793
2018	1,482,924
2017	1,233,613
2016	1,185,676
Prior	2,116,189
Revolving Loans	2,390,521
Revolving Loans Converted to Term Loans	47,692
Total Loans and Leases	11,352,780
Revolving loans, converted to term loan during the period	600
Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	443,731
2019	978,587
2018	704,845
2017	439,225
2016	437,800
Prior	814,757
Revolving Loans	710,334
Revolving Loans Converted to Term Loans	1,290
Total Loans and Leases	4,530,569
Commercial \| Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	161,330
2019	275,910
2018	216,666
2017	95,769
2016	88,538
Prior	129,583
Revolving Loans	589,146
Revolving Loans Converted to Term Loans	1,290
Total Loans and Leases	1,558,232
Commercial \| Commercial and Industrial \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	160,663
2019	253,285
2018	212,901
2017	93,614
2016	87,982
Prior	108,952
Revolving Loans	557,732
Revolving Loans Converted to Term Loans	1,122
Total Loans and Leases	1,476,251
Commercial \| Commercial and Industrial \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	62
2019	508
2018	2,087
2017	700
2016	116
Prior	152
Revolving Loans	19,345
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	22,970
Commercial \| Commercial and Industrial \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	605
2019	22,117
2018	1,678
2017	1,455
2016	440
Prior	20,479
Revolving Loans	12,069
Revolving Loans Converted to Term Loans	168
Total Loans and Leases	59,011
Commercial \| Commercial Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	225,358
2019	597,288
2018	424,611
2017	317,292
2016	337,108
Prior	633,550
Revolving Loans	81,036
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	2,616,243
Commercial \| Commercial Mortgage \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	209,933
2019	591,055
2018	396,239
2017	302,711
2016	329,045
Prior	602,337
Revolving Loans	81,036
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	2,512,356
Commercial \| Commercial Mortgage \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	3,961
2019	820
2018	19,919
2017	13,176
2016	7,359
Prior	7,884
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	53,119
Commercial \| Commercial Mortgage \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	11,464
2019	5,413
2018	8,453
2017	1,405
2016	704
Prior	23,329
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	50,768
Commercial \| Construction
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	54,220
2019	81,985
2018	45,600
2017	20,336
2016	0
Prior	3,097
Revolving Loans	40,152
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	245,390
Commercial \| Construction \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	54,220
2019	81,985
2018	45,600
2017	20,336
2016	0
Prior	1,936
Revolving Loans	40,152
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	244,229
Commercial \| Construction \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	0
2019	0
2018	0
2017	0
2016	0
Prior	1,161
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	1,161
Commercial \| Lease Financing
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	2,823
2019	23,404
2018	17,968
2017	5,828
2016	12,154
Prior	48,527
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	110,704
Commercial \| Lease Financing \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	2,785
2019	23,324
2018	16,762
2017	5,767
2016	12,007
Prior	48,527
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	109,172
Commercial \| Lease Financing \| Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	0
2019	0
2018	0
2017	2
2016	34
Prior	0
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	36
Commercial \| Lease Financing \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	38
2019	80
2018	1,206
2017	59
2016	113
Prior	0
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	1,496
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	321,641
2019	1,152,206
2018	778,079
2017	794,388
2016	747,876
Prior	1,301,432
Revolving Loans	1,680,187
Revolving Loans Converted to Term Loans	46,402
Total Loans and Leases	6,822,211
Consumer \| Residential Mortgage
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	212,313
2019	704,271
2018	445,511
2017	626,091
2016	678,049
Prior	1,261,948
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	3,928,183
Consumer \| Residential Mortgage \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	212,313
2019	704,271
2018	445,511
2017	625,159
2016	678,049
Prior	1,258,545
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	3,923,848
Consumer \| Residential Mortgage \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	0
2019	0
2018	0
2017	932
2016	0
Prior	3,403
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	4,335
Consumer \| Home Equity Loan [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	0
2019	0
2018	0
2017	0
2016	0
Prior	6,348
Revolving Loans	1,641,055
Revolving Loans Converted to Term Loans	44,751
Total Loans and Leases	1,692,154
Consumer \| Home Equity Loan [Member] \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	0
2019	0
2018	0
2017	0
2016	0
Prior	6,245
Revolving Loans	1,637,082
Revolving Loans Converted to Term Loans	43,589
Total Loans and Leases	1,686,916
Consumer \| Home Equity Loan [Member] \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	0
2019	0
2018	0
2017	0
2016	0
Prior	103
Revolving Loans	3,973
Revolving Loans Converted to Term Loans	1,162
Total Loans and Leases	5,238
Consumer \| Automobile
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	63,914
2019	265,698
2018	208,439
2017	99,244
2016	51,925
Prior	26,994
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	716,214
Consumer \| Automobile \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	63,914
2019	265,516
2018	208,273
2017	98,987
2016	51,746
Prior	26,912
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	715,348
Consumer \| Automobile \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	0
2019	182
2018	166
2017	257
2016	179
Prior	82
Revolving Loans	0
Revolving Loans Converted to Term Loans	0
Total Loans and Leases	866
Consumer \| Other Loans
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	45,414
2019	182,237
2018	124,129
2017	69,053
2016	17,902
Prior	6,142
Revolving Loans	39,132
Revolving Loans Converted to Term Loans	1,651
Total Loans and Leases	485,660
Consumer \| Other Loans \| Pass
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	45,414
2019	181,911
2018	123,803
2017	68,751
2016	17,783
Prior	6,098
Revolving Loans	39,053
Revolving Loans Converted to Term Loans	1,643
Total Loans and Leases	484,456
Consumer \| Other Loans \| Classified
Financing Receivable, Credit Quality Indicator [Line Items]
YTD March 31, 2020	0
2019	326
2018	326
2017	302
2016	119
Prior	44
Revolving Loans	79
Revolving Loans Converted to Term Loans	8
Total Loans and Leases	$ 1,204

Investment Securities (Unrealized Position - Less than 12 Mos., 12 Mos. or Longer) (Details 4) $ in Thousands	Mar. 31, 2020 USD ($) security	Dec. 31, 2019 USD ($)
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] (Deprecated 2019-01-31)
Less Than 12 Months, Fair Value	$ 253,574	$ 465,117
Less Than 12 Months, Gross Unrealized Losses	(3,711)	(2,189)
12 Months or Longer, Fair Value	230,881	474,384
12 Months or Longer, Gross Unrealized Losses	(5,121)	(7,587)
Total Fair Value	484,455	939,501
Total Gross Unrealized Losses	$ (8,832)	(9,776)
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position [Abstract]
Number of available for sale securities in unrealized loss positions \| security	97
Debt Securities Issued by the U.S. Treasury and Government Agencies
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] (Deprecated 2019-01-31)
Less Than 12 Months, Fair Value	$ 97,978	65,479
Less Than 12 Months, Gross Unrealized Losses	(1,126)	(188)
12 Months or Longer, Fair Value	53,511	101,761
12 Months or Longer, Gross Unrealized Losses	(112)	(1,259)
Total Fair Value	151,489	167,240
Total Gross Unrealized Losses	(1,238)	(1,447)
Debt Securities Issued by States and Political Subdivisions
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] (Deprecated 2019-01-31)
Less Than 12 Months, Fair Value	0	6,788
Less Than 12 Months, Gross Unrealized Losses	0	(14)
12 Months or Longer, Fair Value	355	440
12 Months or Longer, Gross Unrealized Losses	(1)	0
Total Fair Value	355	7,228
Total Gross Unrealized Losses	(1)	(14)
Debt Securities Issued by Corporations
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] (Deprecated 2019-01-31)
Less Than 12 Months, Fair Value	50,000	25,892
Less Than 12 Months, Gross Unrealized Losses	(644)	(326)
12 Months or Longer, Fair Value	100,866	74,693
12 Months or Longer, Gross Unrealized Losses	(4,502)	(307)
Total Fair Value	150,866	100,585
Total Gross Unrealized Losses	(5,146)	(633)
Residential - Government Agencies
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] (Deprecated 2019-01-31)
Less Than 12 Months, Fair Value	54,491	119,271
Less Than 12 Months, Gross Unrealized Losses	(1,072)	(526)
12 Months or Longer, Fair Value	65,155	170,805
12 Months or Longer, Gross Unrealized Losses	(340)	(2,741)
Total Fair Value	119,646	290,076
Total Gross Unrealized Losses	(1,412)	(3,267)
Residential - U.S. Government-Sponsored Enterprises
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] (Deprecated 2019-01-31)
Less Than 12 Months, Fair Value	0	187,861
Less Than 12 Months, Gross Unrealized Losses	0	(816)
12 Months or Longer, Fair Value	10,994	73,720
12 Months or Longer, Gross Unrealized Losses	(166)	(1,058)
Total Fair Value	10,994	261,581
Total Gross Unrealized Losses	(166)	(1,874)
Commercial - Government Agencies
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] (Deprecated 2019-01-31)
Less Than 12 Months, Fair Value	51,105	59,826
Less Than 12 Months, Gross Unrealized Losses	(869)	(319)
12 Months or Longer, Fair Value	0	52,965
12 Months or Longer, Gross Unrealized Losses	0	(2,222)
Total Fair Value	51,105	112,791
Total Gross Unrealized Losses	(869)	(2,541)
Mortgage-Backed Securities
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] (Deprecated 2019-01-31)
Less Than 12 Months, Fair Value	105,596	366,958
Less Than 12 Months, Gross Unrealized Losses	(1,941)	(1,661)
12 Months or Longer, Fair Value	76,149	297,490
12 Months or Longer, Gross Unrealized Losses	(506)	(6,021)
Total Fair Value	181,745	664,448
Total Gross Unrealized Losses	$ (2,447)	$ (7,682)

(Interest Income - Taxable/Non-Taxable Invest. Sec.) (Details 5) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Interest Income from Investment Securities, Taxable	$ 35,393	$ 31,992
Interest Income from Investment Securities, Non-Taxable	570	3,361
Total Interest Income from Investment Securities	$ 35,963	$ 35,353

Loans and Leases and the Allowance for Loan and Lease Losses (Aging Analysis) (Details 4) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	$ 18,098	$ 17,380
Total Past Due and Non-Accrual	73,552	82,527
Current	11,279,228	10,908,365
Total Loans and Leases	11,352,780	10,990,892
Non-Accrual Loans and Leases that are Current	$ 11,420	11,506
Number of days non-accrual loans are not past due	30 days
30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	$ 35,516	45,964
60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	11,417	10,777
Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	8,521	8,406
Commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	9,682	10,074
Total Past Due and Non-Accrual	18,913	26,626
Current	4,511,656	4,187,201
Total Loans and Leases	4,530,569	4,213,827
Non-Accrual Loans and Leases that are Current	9,477	9,665
Commercial \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	8,976	16,353
Commercial \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	255	199
Commercial \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Commercial \| Commercial and Industrial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	634	830
Total Past Due and Non-Accrual	4,485	13,512
Current	1,553,747	1,365,640
Total Loans and Leases	1,558,232	1,379,152
Non-Accrual Loans and Leases that are Current	429	421
Commercial \| Commercial and Industrial \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	3,596	12,534
Commercial \| Commercial and Industrial \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	255	148
Commercial \| Commercial and Industrial \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Commercial \| Commercial Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	9,048	9,244
Total Past Due and Non-Accrual	13,685	12,242
Current	2,602,558	2,505,809
Total Loans and Leases	2,616,243	2,518,051
Non-Accrual Loans and Leases that are Current	9,048	9,244
Commercial \| Commercial Mortgage \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	4,637	2,998
Commercial \| Commercial Mortgage \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Commercial \| Commercial Mortgage \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Commercial \| Construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	0	0
Total Past Due and Non-Accrual	720	152
Current	244,670	194,018
Total Loans and Leases	245,390	194,170
Non-Accrual Loans and Leases that are Current	0	0
Commercial \| Construction \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	720	101
Commercial \| Construction \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	51
Commercial \| Construction \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Commercial \| Lease Financing
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	0	0
Total Past Due and Non-Accrual	23	720
Current	110,681	121,734
Total Loans and Leases	110,704	122,454
Non-Accrual Loans and Leases that are Current	0	0
Commercial \| Lease Financing \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	23	720
Commercial \| Lease Financing \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Commercial \| Lease Financing \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	0	0
Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	8,416	7,306
Total Past Due and Non-Accrual	54,639	55,901
Current	6,767,572	6,721,164
Total Loans and Leases	6,822,211	6,777,065
Non-Accrual Loans and Leases that are Current	1,943	1,841
Consumer \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	26,540	29,611
Consumer \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	11,162	10,578
Consumer \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	8,521	8,406
Consumer \| Residential Mortgage
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	4,330	4,125
Total Past Due and Non-Accrual	13,631	14,131
Current	3,914,552	3,876,969
Total Loans and Leases	3,928,183	3,891,100
Non-Accrual Loans and Leases that are Current	1,104	1,429
Consumer \| Residential Mortgage \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	3,935	6,097
Consumer \| Residential Mortgage \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	2,342	2,070
Consumer \| Residential Mortgage \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	3,024	1,839
Consumer \| Home Equity
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	4,086	3,181
Total Past Due and Non-Accrual	14,698	13,535
Current	1,677,456	1,662,538
Total Loans and Leases	1,692,154	1,676,073
Non-Accrual Loans and Leases that are Current	839	412
Consumer \| Home Equity \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	4,367	3,949
Consumer \| Home Equity \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	2,819	2,280
Consumer \| Home Equity \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	3,426	4,125
Consumer \| Automobile
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	0	0
Total Past Due and Non-Accrual	19,552	21,170
Current	696,662	699,116
Total Loans and Leases	716,214	720,286
Non-Accrual Loans and Leases that are Current	0	0
Consumer \| Automobile \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	14,590	16,067
Consumer \| Automobile \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	4,096	4,154
Consumer \| Automobile \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	866	949
Consumer \| Other
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Non-Accrual	0	0
Total Past Due and Non-Accrual	6,758	7,065
Current	478,902	482,541
Total Loans and Leases	485,660	489,606
Non-Accrual Loans and Leases that are Current	0	0
Consumer \| Other \| 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	3,648	3,498
Consumer \| Other \| 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	1,905	2,074
Consumer \| Other \| Past Due 90 Days or More
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Days Past Due	$ 1,205	$ 1,493

Loans and Leases and the Allowance for Loan and Lease Losses (Non-Accrual Loans and Leases) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with a related ACL	$ 11,662
Nonaccrual loans without a related ACL	6,436
Total Nonaccrual Loans	18,098	$ 17,380
Commercial
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with a related ACL	4,177
Nonaccrual loans without a related ACL	5,505
Total Nonaccrual Loans	9,682	10,074
Commercial \| Commercial and Industrial
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with a related ACL	634
Nonaccrual loans without a related ACL	0
Total Nonaccrual Loans	634	830
Commercial \| Commercial Mortgage
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with a related ACL	3,543
Nonaccrual loans without a related ACL	5,505
Total Nonaccrual Loans	9,048	9,244
Consumer
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with a related ACL	7,485
Nonaccrual loans without a related ACL	931
Total Nonaccrual Loans	8,416	7,306
Consumer \| Residential Mortgage
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with a related ACL	3,399
Nonaccrual loans without a related ACL	931
Total Nonaccrual Loans	4,330	4,125
Consumer \| Home Equity
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual loans with a related ACL	4,086
Nonaccrual loans without a related ACL	0
Total Nonaccrual Loans	$ 4,086	$ 3,181

(FHLB and FRB Stocks) (Details 7) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Federal Home Loan Bank Stock	$ 15,000	$ 13,000
Federal Reserve Bank Stock	21,198	21,093
Total	$ 36,198	$ 34,093

Loans and Leases and the Allowance for Loan and Lease Losses (Troubled Debt Restructuring & Narrative) (Details 6) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020 USD ($) contract	Mar. 31, 2019 USD ($) contract	Dec. 31, 2019 USD ($)
Information related to loans modified as a TDR
Recorded Investment	$ 67,100		$ 69,100
Available Commitments to Lend Additional Funds on Loans Modified as TDR	$ 200		$ 300
Number of Contracts \| contract	85	160
Recorded Investment (as of period end)	$ 1,232	$ 6,487
Increase in Allowance (as of period end)	$ 26	$ 45
Residential Mortgage \| Maximum
Information related to loans modified as a TDR
Period of Time Loan Being Fully Amortized	40 years
Land Loan \| Maximum
Information related to loans modified as a TDR
Period of Time Loan Being Fully Amortized	360 months
Extending Balloon Payments	5 years
Commercial
Information related to loans modified as a TDR
Number of Contracts \| contract	2	4
Recorded Investment (as of period end)	$ 99	$ 4,018
Increase in Allowance (as of period end)	$ 2	$ 5
Commercial \| Commercial and Industrial
Information related to loans modified as a TDR
Number of Contracts \| contract	2	3
Recorded Investment (as of period end)	$ 99	$ 111
Increase in Allowance (as of period end)	$ 2	$ 5
Commercial \| Commercial Mortgage
Information related to loans modified as a TDR
Number of Contracts \| contract	0	1
Recorded Investment (as of period end)	$ 0	$ 3,907
Increase in Allowance (as of period end)	$ 0	$ 0
Consumer
Information related to loans modified as a TDR
Number of Contracts \| contract	83	156
Recorded Investment (as of period end)	$ 1,133	$ 2,469
Increase in Allowance (as of period end)	$ 24	$ 40
Consumer \| Automobile
Information related to loans modified as a TDR
Number of Contracts \| contract	52	117
Recorded Investment (as of period end)	$ 893	$ 2,240
Increase in Allowance (as of period end)	$ 14	$ 34
Consumer \| Other
Information related to loans modified as a TDR
Number of Contracts \| contract	31	39
Recorded Investment (as of period end)	$ 240	$ 229
Increase in Allowance (as of period end)	$ 10	$ 6

Investment Securities (Visa Class B Restricted Shares Narrative) (Details 8)	3 Months Ended
	Mar. 31, 2020 shares
Visa Conversion Rate Swap Agreement
Net Investment Income [Line Items]
Conversion ratio	1.6228
Equity securities remaining, shares	80,214
Visa Class A Unrestricted Securities
Net Investment Income [Line Items]
Equity securities remaining, shares	130,171

Loans and Leases and the Allowance for Loan and Lease Losses (Foreclosure Proceedings Narrative) (Details 8) $ in Millions	Mar. 31, 2020 USD ($)
Loans and Leases and Allowance for Loan and Lease Losses [Abstract]
Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure	$ 1.9

Investment Securities (Accrued Interest Receivable Excluded from Other Values - Narrative) (Details) - Accrued Interest Receivable - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Accrued interest receivable	$ 30.9	$ 30.7
Available-for-sale Securities
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Accrued interest receivable	7.1	7.5
Held-to-maturity Securities
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items]
Accrued interest receivable	$ 8.9	$ 8.1

Loans and Leases and the Allowance for Loan and Lease Losses (Troubled Debt Restructuring's that Defaulted During the Period) (Details 7) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($) contract	Mar. 31, 2019 USD ($) contract
Information related to loans modified as a TDR
Number of Contracts, TDRs that Defaulted \| contract	23	33
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 226	$ 391
Minimum
Information related to loans modified as a TDR
Default Period Past Due Following Modification of Loans in TDR (in days)	60 days
Consumer
Information related to loans modified as a TDR
Number of Contracts, TDRs that Defaulted \| contract	23	33
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 226	$ 391
Consumer \| Automobile
Information related to loans modified as a TDR
Number of Contracts, TDRs that Defaulted \| contract	18	14
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 176	$ 266
Consumer \| Other
Information related to loans modified as a TDR
Number of Contracts, TDRs that Defaulted \| contract	5	19
Recorded Investment (as of period ended), TDRs that Defaulted \| $	$ 50	$ 125

Mortgage Servicing Rights (Narrative) (Details 1) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Transfers and Servicing of Financial Assets [Abstract]
Residential mortgage loans serviced for third parties	$ 3,100.0		$ 3,100.0
Servicing income, including late and ancillary fees	$ 3.7	$ 1.8

Mortgage Servicing Rights (Fair value method rollforward) (Details 2) - Mortgage Servicing Rights - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Mortgage servicing rights accounted for under the fair value measurement method [Rollforward]
Balance at Beginning of Period	$ 1,126	$ 1,290
Due to Payoffs	(25)	(22)
Total Changes in Fair Value of Mortgage Servicing Rights	(25)	(22)
Balance at End of Period	$ 1,101	$ 1,268

Mortgage Servicing Rights (Amortization method rollforward) (Details 3) - Mortgage Servicing Rights - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Servicing Asset at Amortized Cost [Line Items]
Valuation Allowance	$ 2,513	$ 0	$ 0	$ 0
Mortgage Servicing Rights Accounted for Under the Amortization Method {Rollforward)
Balance at Beginning of Period	23,896	23,020
Servicing Rights that Resulted From Asset Transfers	1,165	551
Amortization	(1,112)	(690)
Valuation Allowance for Impairment of Recognized Servicing Assets, Additions (Deductions) for Expenses (Recoveries)	(2,513)	0
Balance at End of Period	21,436	22,881
Fair Value of Mortgage Servicing Rights Accounted for Under the Amortization Method
Beginning of Period	25,714	29,218
End of Period	$ 21,436	$ 26,814

Mortgage Servicing Rights (Key assumptions) (Details 4) - Mortgage Servicing Rights	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Key data and assumptions used in estimating the fair value of mortgage servicing rights
Weighted-Average Constant Prepayment Rate (as a percent)	14.93%	10.76%
Weighted-Average Life (in years)	4 years 10 months 17 days	6 years 2 months 12 days
Weighted-Average Note Rate (as a percent)	3.96%	3.99%
Weighted-Average Discount Rate (as a percent)	5.90%	7.33%

Mortgage Servicing Rights (Sensitivity analysis) (Details 5) - Mortgage Servicing Rights - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Constant Prepayment Rate
Decrease in fair value from 25 basis points (“bps”) adverse change	$ (228)	$ (296)
Decrease in fair value from 50 bps adverse change	(452)	(586)
Discount Rate
Decrease in fair value from 25 bps adverse change	(204)	(264)
Decrease in fair value from 50 bps adverse change	$ (403)	$ (522)

Low Income Housing Tax Credit Partnerships (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Affordable Housing Tax Credit Investments, Unfunded Commitment [Abstract]
2019	$ 25,423
2020	5,310
2021	79
2022	55
2023	55
Thereafter	1,754
Total Unfunded Commitments	32,676
Effective Yield Method
Tax credits and other tax benefits recognized	2,938	$ 2,930
Amortization Expense in Provision for Income Taxes	2,147	1,891
Proportional Amortization Method
Tax credits and other tax benefits recognized	1,523	753
Amortization Expense in Provision for Income Taxes	1,318	645
Net affordable housing tax credit investments and related unfunded commitments	92,900		$ 76,300
Write down from impairment of LIHTC Investments	$ 0	$ 0

Balance Sheet Offsetting (Assets and liabilities subject to MNA, or repurchase agreements) (Details 2) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Liabilities:
Repurchase Agreements, Gross Amounts of Recognized Liabilities	$ 603,206	$ 604,306
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition	0	0
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition	603,206	604,306
Repurchase Agreements, Fair Value of Collateral Pledged	603,206	604,306
Securities Sold under Agreements to Repurchase, Net Amount Offset Against Collateral	0	0
Interest Rate Swap Agreements
Offsetting Assets and Liabilities [Line items]
Net liability positions, aggregate fair value	18,900	5,100
Institutional Counterparties \| Interest Rate Swap Agreements
Assets:
Gross Amounts of Recognized Assets	36	584
Gross Amounts Offset in the Statements of Condition	0	0
Net Amounts of Assets Presented in the Statements of Condition	36	584
Netting Adjustments per Master Netting Arrangements	36	584
Gross Amounts Not Offset in the Statements of Condition - FV of collateral pledged	0	0
Derivative Assets, Net Amount	0	0
Liabilities:
Gross Amounts of Recognized Liabilities	18,947	5,361
Gross Amounts Offset in the Statements of Condition	0	0
Net Amounts of Liabilities Presented in the Statements of Condition	18,947	5,361
Derivative Liability, Netting Adjustments per Master Netting Arrangements	36	584
Derivative, Collateral, Right to Reclaim Securities	8,955	3,818
Derivative Liabilities, Net Amount	9,956	959
Private Institutions
Offsetting Assets and Liabilities [Line items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	646,400	645,300
Liabilities:
Repurchase Agreements, Gross Amounts of Recognized Liabilities	600,000	600,000
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition	0	0
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition	600,000	600,000
Repurchase Agreements, Fair Value of Collateral Pledged	600,000	600,000
Securities Sold under Agreements to Repurchase, Net Amount Offset Against Collateral	0	0
Government Entities
Offsetting Assets and Liabilities [Line items]
Securities Sold under Agreements to Repurchase, Fair Value of Collateral	5,400	5,500
Liabilities:
Repurchase Agreements, Gross Amounts of Recognized Liabilities	3,206	4,306
Repurchase Agreements, Gross Amounts Offset in the Statements of Condition	0	0
Repurchase Agreements, Net Amounts of Liabilities Presented in the Statements of Condition	3,206	4,306
Repurchase Agreements, Fair Value of Collateral Pledged	3,206	4,306
Securities Sold under Agreements to Repurchase, Net Amount Offset Against Collateral	$ 0	$ 0

Accumulated Other Comprehensive Income (Loss) (AOCI Components Pre Post & Tax Effect) (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Other Comprehensive Income (Loss), Before Tax:
Net Unrealized Gains (Losses) Arising During the Period	$ 56,556	$ 8,952
(Gain) Loss on sale, before tax	77	(64)
Amortization of Unrealized Holding (Gains) Losses on HTM Securities	65	396
Net Unrealized Gains (Losses) on Investment Securities	56,544	9,412
Amortization of Net Actuarial Losses (Gains)	570	406
Amortization of Prior Service Credit	(61)	(72)
Defined Benefit Plans, Net	509	334
Other Comprehensive Income (Loss)	57,053	9,746
Other Comprehensive Income (Loss), Tax Effect:
Net Unrealized Gains (Losses) Arising During the Period	14,989	2,371
(Gain) Loss on sale, Tax Effect	21	(17)
Amortization of Unrealized Holding (Gains) Losses on HTM Securities	17	105
Net Unrealized Gains (Losses) on Investment Securities	14,985	2,493
Amortization of Net Actuarial Losses (Gains)	152	107
Amortization of Prior Service Credit	(17)	(19)
Defined Benefit Plans, Net	135	88
Other Comprehensive Income (Loss)	15,120	2,581
Other Comprehensive Income (Loss), Net of Tax:
Net Unrealized Gains (Losses) Arising During the Period	41,567	6,581
(Gain) Loss on sale, Net of Tax	56	(47)
Amortization of Unrealized Holding (Gains) Losses on HTM Securities	48	291
Net Unrealized Gains (Losses) on Investment Securities	41,559	6,919
Amortization of Net Actuarial Losses (Gains)	418	299
Amortization of Prior Service Credit	(44)	(53)
Defined Benefit Plans, Net	374	246
Total Other Comprehensive Income (Loss)	$ 41,933	$ 7,165

Accumulated Other Comprehensive Income (Loss) (Change in AOCI Components net of tax) (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	$ 1,286,832	$ 1,268,200
Total Other Comprehensive Income (Loss)	41,933	7,165
Balance at End of Period	1,327,929	1,269,690
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	(38,756)	(36,010)
Other Comprehensive Income (Loss) Before Reclassifications	0	0
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	374	246
Total Other Comprehensive Income (Loss)	374	246
Balance at End of Period	(38,382)	(35,764)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	(31,112)	(51,043)
Other Comprehensive Income (Loss) Before Reclassifications	41,567	6,581
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	366	584
Total Other Comprehensive Income (Loss)	41,933	7,165
Balance at End of Period	10,821	(43,878)
Available-for-sale Securities \| Unrealized Gains and Losses on Net Investment Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	8,359	(10,447)
Other Comprehensive Income (Loss) Before Reclassifications	41,567	6,581
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	(56)	47
Total Other Comprehensive Income (Loss)	41,511	6,628
Balance at End of Period	49,870	(3,819)
Held-to-maturity Securities \| Unrealized Gains and Losses on Net Investment Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at Beginning of Period	(715)	(4,586)
Other Comprehensive Income (Loss) Before Reclassifications	0	0
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	48	291
Total Other Comprehensive Income (Loss)	48	291
Balance at End of Period	$ (667)	$ (4,295)

Accumulated Other Comprehensive Income (Loss) (AOCI Reclass to IS) (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Tax Benefit (Expense)	$ (7,461)	$ (13,660)
Net Income	34,742	58,799
Salaries and Benefits	(54,463)	(56,586)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Net Income	(366)	(584)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of Unrealized Gains(Losses) of Investment Securities Transferred from AFS to HTM
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Interest Income	(65)	(396)
Tax Benefit (Expense)	17	105
Net Income	(48)	(291)
Reclassification out of Accumulated Other Comprehensive Income \| Sale of Investment Securities Available-for-Sale
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Tax Benefit (Expense)	(21)	17
Net Income	56	(47)
Sale of Investment Securities Available-for-Sale	77	(64)
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of Defined Benefit Pension Items
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Tax Benefit (Expense)	135	88
Net Income	(374)	(246)
Salaries and Benefits	(509)	(334)
Reclassification out of Accumulated Other Comprehensive Income \| Prior Service Credit
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Salaries and Benefits	61	72
Reclassification out of Accumulated Other Comprehensive Income \| Net Actuarial Losses
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Salaries and Benefits	$ (570)	$ (406)

Earnings Per Share (Details) - shares	3 Months Ended
Earnings Per Share (Details) - shares	Mar. 31, 2020	Mar. 31, 2019
Reconciliation of Diluted Shares
Denominator for Basic Earnings Per Share (in shares)	39,681,611	40,938,318
Dilutive Effect of Equity Based Awards (in shares)	235,375	275,135
Denominator for Diluted Earnings Per Share (in shares)	39,916,986	41,213,453
Antidilutive Stock Options and Restricted Stock Outstanding (in shares)	106,602	102,394

Business Segments (Business Segments Financial Information and Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($) atm branch	Mar. 31, 2019 USD ($)	Dec. 31, 2019 USD ($)
Business segment financial information
Federal and State effective tax rate used for segment reporting	26.00%
Net Interest Income	$ 125,966	$ 124,837
Provision for Credit Losses	33,600	3,000
Net Interest Income After Provision for Credit Losses	92,366	121,837
Noninterest Income	46,149	43,679
Noninterest Expense	(96,312)	(93,057)
Income Before Provision for Income Taxes	42,203	72,459
Provision for Income Taxes	(7,461)	(13,660)
Net Income	34,742	58,799
Total Assets	$ 18,542,233	17,446,413	$ 18,095,496
Consumer
Business segment financial information
Number of branch locations through which products and services are delivered to customers \| branch	67
Number of ATM's through which products and services are delivered to customers \| atm	382
Net Interest Income	$ 73,661	76,352
Provision for Credit Losses	3,545	2,224
Net Interest Income After Provision for Credit Losses	70,116	74,128
Noninterest Income	32,590	34,478
Noninterest Expense	(70,900)	(69,427)
Income Before Provision for Income Taxes	31,806	39,179
Provision for Income Taxes	(7,984)	(9,834)
Net Income	23,822	29,345
Total Assets	7,385,185	6,796,106
Commercial
Business segment financial information
Net Interest Income	45,986	47,290
Provision for Credit Losses	290	1,446
Net Interest Income After Provision for Credit Losses	45,696	45,844
Noninterest Income	11,735	7,061
Noninterest Expense	(17,298)	(20,955)
Income Before Provision for Income Taxes	40,133	31,950
Provision for Income Taxes	(9,760)	(6,002)
Net Income	30,373	25,948
Total Assets	4,584,040	4,004,176
Treasury and Other
Business segment financial information
Net Interest Income	6,319	1,195
Provision for Credit Losses	29,765	(670)
Net Interest Income After Provision for Credit Losses	(23,446)	1,865
Noninterest Income	1,824	2,140
Noninterest Expense	(8,114)	(2,675)
Income Before Provision for Income Taxes	(29,736)	1,330
Provision for Income Taxes	10,283	2,176
Net Income	(19,453)	3,506
Total Assets	$ 6,573,008	$ 6,646,131

Derivative Financial Instruments (Notional Amounts) (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Interest Rate Lock Commitments
Derivative [Line Items]
Notional Amount	$ 82,433	$ 48,677
Fair Value	3,930	1,280
Forward Commitments
Derivative [Line Items]
Notional Amount	75,861	82,735
Fair Value	(1,247)	(182)
Receive Fixed / Pay Variable Swap
Derivative [Line Items]
Notional Amount	1,035,227	802,389
Fair Value	95,661	26,070
Pay Fixed / Receive Variable Swap
Derivative [Line Items]
Notional Amount	1,035,227	802,389
Fair Value	(18,911)	(4,777)
Foreign Exchange Contracts
Derivative [Line Items]
Notional Amount	88,211	85,499
Fair Value	107	163
Visa Conversion Rate Swap Agreement
Derivative [Line Items]
Notional Amount	98,180	114,499
Fair Value	$ 0	$ 0

Pension Plans and Postretirement Benefit Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Pension Benefits
Net periodic benefit cost for pension plans and the postretirement benefit plan
Service Cost	$ 0	$ 0
Interest Cost	900	1,094
Expected Return on Plan Assets	(1,258)	(1,249)
Amortization of Prior Service Credit	0	0
Amortization of Net Actuarial Losses (Gains)	570	484
Net Periodic Benefit Cost	212	329
Employer Contributions	100
Estimated Future Employer Contributions in Current Fiscal Year	400
Postretirement Benefits
Net periodic benefit cost for pension plans and the postretirement benefit plan
Service Cost	151	118
Interest Cost	231	258
Expected Return on Plan Assets	0	0
Amortization of Prior Service Credit	(61)	(72)
Amortization of Net Actuarial Losses (Gains)	0	(78)
Net Periodic Benefit Cost	321	$ 226
Employer Contributions	300
Estimated Future Employer Contributions in Current Fiscal Year	$ 1,000

Derivative Financial Instruments (Assets and liabilities) (Details 2) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative Financial Instruments Not Designated as Hedging Instruments
Asset Derivatives	$ 100,591	$ 28,931
Liability Derivatives	21,051	6,377
Interest Rate Lock Commitments
Derivative Financial Instruments Not Designated as Hedging Instruments
Asset Derivatives	3,930	1,280
Liability Derivatives	0	0
Forward Commitments
Derivative Financial Instruments Not Designated as Hedging Instruments
Asset Derivatives	52	23
Liability Derivatives	1,299	205
Interest Rate Swap Agreements
Derivative Financial Instruments Not Designated as Hedging Instruments
Asset Derivatives	95,918	27,344
Liability Derivatives	19,168	6,051
Foreign Exchange Contracts
Derivative Financial Instruments Not Designated as Hedging Instruments
Asset Derivatives	691	284
Liability Derivatives	$ 584	$ 121

Derivative Financial Instruments (Net gains or losses) (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments, Gain (Loss)
Net gains (losses) recognized in the statements of income	$ 11,271	$ 3,183
Interest Rate Lock Commitments \| Mortgage Banking Income
Derivative Instruments, Gain (Loss)
Net gains (losses) recognized in the statements of income	6,303	1,725
Forward Commitments \| Mortgage Banking Income
Derivative Instruments, Gain (Loss)
Net gains (losses) recognized in the statements of income	(2,184)	(592)
Interest Rate Swap Agreements \| Other Noninterest Income
Derivative Instruments, Gain (Loss)
Net gains (losses) recognized in the statements of income	6,438	1,136
Foreign Exchange Contracts \| Other Noninterest Income
Derivative Instruments, Gain (Loss)
Net gains (losses) recognized in the statements of income	$ 714	$ 914

Derivative Financial Instruments (Narrative) (Details 4)	3 Months Ended
	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Derivative [Line Items]
Liability Derivatives	$ 21,051,000	$ 6,377,000
Visa Class B Restricted Securities
Derivative [Line Items]
Liability Derivatives	$ 0
Visa Class B Restricted Securities
Derivative [Line Items]
Conversion ratio	1.6228

Commitments, Contingencies, and Guarantees (Credit Commitments) (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Credit Commitments [Line Items]
Credit Commitments	$ 2,678,793	$ 2,811,918
Unfunded Commitments to Extend Credit
Credit Commitments [Line Items]
Credit Commitments	2,579,748	2,713,937
Standby Letters of Credit
Credit Commitments [Line Items]
Credit Commitments	83,175	81,000
Commercial Letters of Credit
Credit Commitments [Line Items]
Credit Commitments	$ 15,870	$ 16,981

Commitments, Contingencies, and Guarantees (Narrative) (Details 2) $ in Millions		3 Months Ended
	Oct. 16, 2019 USD ($)	Mar. 31, 2020 USD ($) Loan
Residential Mortgage
Representations and Warranties [Line Items]
Continuing Involvement with Transferred Financial Assets, Principal Amount Outstanding \| $		$ 2,800.0
Number of Mortgage Loans Repurchased		0
Number of Mortgage Loans Repurchased, Pending		0
Number of Mortgage Loans Repurchased due to Loan Servicing Activities		0
Number of Mortgage Loans Repurchased due to Loan Servicing Activities, Pending		0
Current Residential Mortgage Loans Serviced for Third Parties as Percentage of Total		99.00%
Class Settlement \| Settled Litigation
Representations and Warranties [Line Items]
Litigation settlement amount \| $	$ 8.0
Loss contingency accrual amount \| $		$ 8.0

Fair Value of Assets and Liabilities (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Liability Derivatives	$ 21,051	$ 6,377

Fair Value of Assets and Liabilities (Fair value on recurring basis) (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets:
Available-for-Sale: Fair Value	$ 2,681,049	$ 2,619,003
Loans Held for Sale	20,789	39,062
Debt Securities Issued by States and Political Subdivisions
Assets:
Available-for-Sale: Fair Value	55,023	55,097
Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,012	22,147
Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	271,176	336,321
Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	2,152,749	1,984,307
Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	1,199,214	1,172,826
Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	661,173	586,761
Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	292,362	224,720
Fair Value, Measurements, Recurring
Assets:
Available-for-Sale: Fair Value	2,681,049	2,619,003
Loans Held for Sale	20,789	39,062
Mortgage Servicing Rights	1,101	1,126
Other Assets	42,844	41,464
Derivatives	100,591	28,931
Total Assets Measured at Fair Value on a Recurring Basis	2,846,374	2,729,586
Liabilites:
Derivatives	21,051	6,377
Total Liabilities Measured at Fair Value on a Recurring Basis	21,051	6,377
Fair Value, Measurements, Recurring \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	201,089	221,131
Fair Value, Measurements, Recurring \| Debt Securities Issued by States and Political Subdivisions
Assets:
Available-for-Sale: Fair Value	55,023	55,097
Fair Value, Measurements, Recurring \| Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,012	22,147
Fair Value, Measurements, Recurring \| Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	271,176	336,321
Fair Value, Measurements, Recurring \| Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	2,152,749	1,984,307
Fair Value, Measurements, Recurring \| Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	1,199,214	1,172,826
Fair Value, Measurements, Recurring \| Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	661,173	586,761
Fair Value, Measurements, Recurring \| Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	292,362	224,720
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Assets:
Available-for-Sale: Fair Value	1,176	1,155
Loans Held for Sale	0	0
Mortgage Servicing Rights	0	0
Other Assets	42,844	41,464
Derivatives	0	0
Total Assets Measured at Fair Value on a Recurring Basis	44,020	42,619
Liabilites:
Derivatives	0	0
Total Liabilities Measured at Fair Value on a Recurring Basis	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	1,176	1,155
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Debt Securities Issued by States and Political Subdivisions
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) \| Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2)
Assets:
Available-for-Sale: Fair Value	2,679,873	2,617,848
Loans Held for Sale	20,789	39,062
Mortgage Servicing Rights	0	0
Other Assets	0	0
Derivatives	743	308
Total Assets Measured at Fair Value on a Recurring Basis	2,701,405	2,657,218
Liabilites:
Derivatives	1,883	327
Total Liabilities Measured at Fair Value on a Recurring Basis	1,883	327
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	199,913	219,976
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Debt Securities Issued by States and Political Subdivisions
Assets:
Available-for-Sale: Fair Value	55,023	55,097
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	1,012	22,147
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	271,176	336,321
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	2,152,749	1,984,307
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	1,199,214	1,172,826
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	661,173	586,761
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	292,362	224,720
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3)
Assets:
Available-for-Sale: Fair Value	0	0
Loans Held for Sale	0	0
Mortgage Servicing Rights	1,101	1,126
Other Assets	0	0
Derivatives	99,848	28,623
Total Assets Measured at Fair Value on a Recurring Basis	100,949	29,749
Liabilites:
Derivatives	19,168	6,050
Total Liabilities Measured at Fair Value on a Recurring Basis	19,168	6,050
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Debt Securities Issued by States and Political Subdivisions
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Debt Securities Issued by Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Debt Securities Issued by Corporations
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Mortgage-Backed Securities
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Residential - Government Agencies
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Residential - U.S. Government-Sponsored Enterprises
Assets:
Available-for-Sale: Fair Value	0	0
Fair Value, Measurements, Recurring \| Significant Other Unobservable Inputs (Level 3) \| Commercial - Government Agencies
Assets:
Available-for-Sale: Fair Value	$ 0	$ 0

Fair Value of Assets and Liabilities (FV on recurring basis-Level 3 rollforward) (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Mortgage Servicing Rights Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Mortgage Servicing Rights, Beginning Balance	$ 1,126	$ 1,290
Fair Value, Mortgage Servicing Rights, Realized and Unrealized Net Gains (Losses) Included in Net Income	(25)	(22)
Fair Value, Mortgage Servicing Rights, Ending Balance	1,101	1,268
Fair Value, Mortgage Service Rights, Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held	0	0
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair Value, Net Derivative Assets and Liabilities, Beginning Balance	22,573	4,416
Fair Value, Net Derivative Assets and Liabilities, Realized and Unrealized Net Gains (Losses) Included in Net Income	6,172	1,715
Fair Value, Net Derivative Assets and Liabilities, Transfers to Loans Held for Sale	(3,653)	(1,498)
Variation margin payments for swap liabilities	55,588	4,542
Fair Value, Net Derivative Assets and Liabilities, Ending Balance	80,680	9,175
Fair Value, Net Derivative Assets and Liabilities,Total Unrealized Net Gains (Losses) Included in Net Income Related to Assets Still Held	$ 80,680	$ 9,175

Fair Value of Assets and Liabilities (FV on recurring or nonrecurring basis-level 3 inputs) (Details 3) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Interest Rate Lock Commitments \| Pricing Model
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	$ 3,930	$ 1,280
Interest Rate Swap Agreements \| Discounted Cash Flow
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net	76,750	21,293
Mortgage Servicing Rights \| Discounted Cash Flow
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Mortgage Servicing Rights, at Fair Value	$ 22,537	$ 26,840
Significant Other Unobservable Inputs (Level 3) \| Interest Rate Lock Commitments \| Pricing Model \| Weighted Average Closing Ratio (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.8746	0.9224
Significant Other Unobservable Inputs (Level 3) \| Interest Rate Swap Agreements \| Discounted Cash Flow \| Weighted Average Credit Factor (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.0019	0.0020
Significant Other Unobservable Inputs (Level 3) \| Mortgage Servicing Rights \| Discounted Cash Flow \| Weighted Average Constant Prepayment Rate (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Mortgage Servicing Rights, Fair Value Inputs	0.1493	0.1076
Significant Other Unobservable Inputs (Level 3) \| Weighted Average Discount Rate (as a percent) \| Discounted Cash Flow \| Weighted Average Discount Rate (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Mortgage Servicing Rights, Fair Value Inputs	0.0590	0.0733
Minimum \| Significant Other Unobservable Inputs (Level 3) \| Discounted Cash Flow \| Weighted Average Discount Rate (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Mortgage Servicing Rights, Fair Value Inputs	0.0588
Minimum \| Significant Other Unobservable Inputs (Level 3) \| Interest Rate Lock Commitments \| Pricing Model \| Weighted Average Closing Ratio (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.7540
Minimum \| Significant Other Unobservable Inputs (Level 3) \| Interest Rate Swap Agreements \| Discounted Cash Flow \| Weighted Average Credit Factor (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.0002
Minimum \| Mortgage Servicing Rights [Member] \| Discounted Cash Flow
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities, Discount Rate	9.57%
Maximum \| Significant Other Unobservable Inputs (Level 3) \| Discounted Cash Flow \| Weighted Average Discount Rate (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Mortgage Servicing Rights, Fair Value Inputs	0.0644
Maximum \| Significant Other Unobservable Inputs (Level 3) \| Interest Rate Lock Commitments \| Pricing Model \| Weighted Average Closing Ratio (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.9900
Maximum \| Significant Other Unobservable Inputs (Level 3) \| Interest Rate Swap Agreements \| Discounted Cash Flow \| Weighted Average Credit Factor (as a percent)
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Fair Value Inputs	0.0061
Maximum \| Mortgage Servicing Rights [Member] \| Discounted Cash Flow
Level 3 Assets and Liabilities, Fair Value and Fair Value Unobservable Inputs
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities, Discount Rate	16.76%

Fair Value of Assets and Liabilities (Fair value on a nonrecurring basis) (Details 4) - Significant Other Unobservable Inputs (Level 3) $ in Thousands	Mar. 31, 2020 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net Carrying Amount	$ 21,436
Valuation Allowance	$ (2,513)

Fair Value of Assets and Liabilities (FV option) (Details 5) - Residential mortgage loans held for sale - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value Option
Aggregate Fair Value	$ 20,789	$ 39,062
Aggregate Unpaid Principal	13,848	38,293
Aggregate Fair Value Less Aggregate Unpaid Principal	$ 6,941	$ 769

Fair Value of Assets and Liabilities (Financial instruments not recorded at FV on recurring basis) (Details 6) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Financial Instruments - Assets
Held-to-Maturity: Fair Value	$ 3,104,020	$ 3,062,882
Carrying Amount
Financial Instruments - Assets
Held-to-Maturity: Fair Value	3,004,139	3,042,294
Loans	11,013,610	10,664,885
Financial Instruments - Liabilities
Time Deposits	1,744,812	1,802,431
Securities Sold Under Agreements to Repurchase	603,206	604,306
Other Debt	50,000	75,000
Fair Value
Financial Instruments - Assets
Held-to-Maturity: Fair Value	3,104,020	3,062,882
Loans	11,548,639	10,873,208
Financial Instruments - Liabilities
Time Deposits	1,754,741	1,800,773
Securities Sold Under Agreements to Repurchase	651,276	627,780
Other Debt	50,800	75,581
Fair Value \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Instruments - Assets
Held-to-Maturity: Fair Value	216,723	275,663
Loans	0	0
Financial Instruments - Liabilities
Time Deposits	0	0
Securities Sold Under Agreements to Repurchase	0	0
Other Debt	0	0
Fair Value \| Significant Other Observable Inputs (Level 2)
Financial Instruments - Assets
Held-to-Maturity: Fair Value	2,887,297	2,787,219
Loans	0	0
Financial Instruments - Liabilities
Time Deposits	1,754,741	1,800,773
Securities Sold Under Agreements to Repurchase	651,276	627,780
Other Debt	50,800	75,581
Fair Value \| Significant Other Unobservable Inputs (Level 3)
Financial Instruments - Assets
Held-to-Maturity: Fair Value	0	0
Loans	11,548,639	10,873,208
Financial Instruments - Liabilities
Time Deposits	0	0
Securities Sold Under Agreements to Repurchase	0	0
Other Debt	$ 0	$ 0

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Service Charges on Deposit Accounts	$ 7,451	$ 7,364
Fees, Exchange, and Other Service Charges	13,200	14,208
Annuity and Insurance	928	2,578
Other	10,350	5,606
Noninterest Income	46,149	43,679
Accounting Standards Update 2014-09
Disaggregation of Revenue [Line Items]
Noninterest Income	46,149	43,679
Accounting Standards Update 2014-09 \| Noninterest Income In Scope of Topic 606
Disaggregation of Revenue [Line Items]
Trust and Asset Management	10,915	10,761
Service Charges on Deposit Accounts	3,053	3,349
Fees, Exchange, and Other Service Charges	10,518	11,552
Annuity and Insurance	895	2,544
Other	2,302	2,471
Noninterest Income	27,683	30,677
Accounting Standards Update 2014-09 \| Noninterest Income Out of Scope of Topic 606
Disaggregation of Revenue [Line Items]
Noninterest Income	$ 18,466	$ 13,002

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 3,632,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	3,632,000
Accounting Standards Update 2016-13 [Member] \| Cumulative Effect, Period Of Adoption, Adjusted Balance [Member] \| Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	53,278,000
Accounting Standards Update 2016-13 [Member] \| Cumulative Effect, Period Of Adoption, Adjusted Balance [Member] \| Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	55,012,000
Accounting Standards Update 2016-13 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	17,052,000
Accounting Standards Update 2016-13 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	$ (18,789,000)

Balance Sheet Offsetting (Repos - by maturity date and collateral type) (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	$ 603,206	$ 604,306
Debt Securities Issued by the U.S. Treasury and Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	237,238	237,238
Debt Securities Issued by States and Political Subdivisions
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	1,690	2,790
Mortgage-Backed Securities: Residential - Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	115,734	115,734
Mortgage-Backed Securities: Residential - U.S. Government-Sponsored Enterprises
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	248,544	248,544
Maturity Up To 90 Days [Member]
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	1,200
Maturity Up To 90 Days [Member] \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	0
Maturity Up To 90 Days [Member] \| Debt Securities Issued by States and Political Subdivisions
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	1,200
Maturity Up To 90 Days [Member] \| Mortgage-Backed Securities: Residential - Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	0
Maturity Up To 90 Days [Member] \| Mortgage-Backed Securities: Residential - U.S. Government-Sponsored Enterprises
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	0
Maturity 91 To 365 Days [Member]
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	2,716	2,616
Maturity 91 To 365 Days [Member] \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	0
Maturity 91 To 365 Days [Member] \| Debt Securities Issued by States and Political Subdivisions
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	1,200	1,100
Maturity 91 To 365 Days [Member] \| Mortgage-Backed Securities: Residential - Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	1,516	1,516
Maturity 91 To 365 Days [Member] \| Mortgage-Backed Securities: Residential - U.S. Government-Sponsored Enterprises
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	0
Maturity 1 To 3 Years [Member]
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	225,000	225,000
Maturity 1 To 3 Years [Member] \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	199,173	199,173
Maturity 1 To 3 Years [Member] \| Debt Securities Issued by States and Political Subdivisions
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	0
Maturity 1 To 3 Years [Member] \| Mortgage-Backed Securities: Residential - Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	25,827	25,827
Maturity 1 To 3 Years [Member] \| Mortgage-Backed Securities: Residential - U.S. Government-Sponsored Enterprises
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	0	0
Maturity After 3 Years [Member]
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	375,490	375,490
Maturity After 3 Years [Member] \| Debt Securities Issued by the U.S. Treasury and Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	38,065	38,065
Maturity After 3 Years [Member] \| Debt Securities Issued by States and Political Subdivisions
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	490	490
Maturity After 3 Years [Member] \| Mortgage-Backed Securities: Residential - Government Agencies
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	88,391	88,391
Maturity After 3 Years [Member] \| Mortgage-Backed Securities: Residential - U.S. Government-Sponsored Enterprises
Securities Sold Under Agreements to Repurchase
Securities Sold under Agreements to Repurchase	$ 248,544	$ 248,544