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FHB First Hawaiian

Document and Entity Information

Document and Entity Information - shares3 Months Ended
Mar. 31, 2021Apr. 20, 2021
Cover page
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 31,
2021
Document Transition Reportfalse
Entity File Number001-14585
Entity Registrant NameFIRST HAWAIIAN, INC.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number99-0156159
Entity Address, Address Line One999 Bishop Street, 29th Floor
Entity Address, City or TownHonolulu
Entity Address, Postal Zip Code96813
Local Phone Number525-7000
City Area Code808
Title of 12(b) SecurityCommon Stock
Trading SymbolFHB
Security Exchange NameNASDAQ
Entity Address, State or ProvinceHI
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding130,371,311
Current Fiscal Year End Date--12-31
Entity Central Index Key0000036377
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Amendment Flagfalse

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Interest income
Loans and lease financing $ 110,939 $ 134,971
Available-for-sale securities23,146 21,210
Other491 2,351
Total interest income134,576 158,532
Interest expense
Deposits4,056 15,600
Short-term and long-term borrowings1,362 4,249
Total interest expense5,418 19,849
Net interest income129,158 138,683
Provision for credit losses41,200
Net interest income after provision for credit losses129,158 97,483
Noninterest income
Service charges on deposit accounts6,718 8,950
Credit and debit card fees14,551 14,949
Other service charges and fees8,846 8,539
Trust and investment services income8,492 9,591
Bank-owned life insurance2,389 2,260
Investment securities gains, net85
Other2,872 4,854
Total noninterest income43,868 49,228
Noninterest expense
Salaries and employee benefits43,936 44,829
Contracted services and professional fees17,188 16,055
Occupancy7,170 7,243
Equipment5,491 4,708
Regulatory assessment and fees2,034 1,946
Advertising and marketing1,591 1,823
Card rewards program4,835 7,015
Other14,061 12,847
Total noninterest expense96,306 96,466
Income before provision for income taxes76,720 50,245
Provision for income taxes19,027 11,380
Net income $ 57,693 $ 38,865
Basic earnings per share (in dollars per share) $ 0.44 $ 0.30
Diluted earnings per share (in dollars per share) $ 0.44 $ 0.30
Basic weighted-average outstanding shares (in shares)129,933,104 129,895,706
Diluted weighted-average outstanding shares (in shares)130,589,878 130,351,585

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
Net income $ 57,693 $ 38,865
Other comprehensive (loss) income, net of tax:
Net change in pensions and other benefits(96)
Net change in investment securities(75,039)35,974
Other comprehensive (loss) income(75,039)35,878
Total comprehensive (loss) income $ (17,346) $ 74,743

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Assets
Cash and due from banks $ 278,994 $ 303,373
Interest-bearing deposits in other banks983,816 737,571
Investment securities, at fair value (amortized cost: $6,708,431 as of March 31, 2021 and $5,985,031 as of December 31, 2020)6,692,479 6,071,415
Loans held for sale9,390 11,579
Total Loans and Leases13,300,289 13,279,097
Less: allowance for credit losses200,366 208,454
Net loans and leases13,099,923 13,070,643
Premises and equipment, net319,949 322,401
Accrued interest receivable69,879 69,626
Bank-owned life insurance468,927 466,537
Goodwill995,492 995,492
Mortgage servicing rights10,869 10,731
Other assets567,878 603,463
Total assets23,497,596 22,662,831
Deposits:
Interest-bearing11,958,606 11,705,609
Noninterest-bearing8,175,075 7,522,114
Total deposits20,133,681 19,227,723
Long-term borrowings200,010 200,010
Retirement benefits payable143,736 143,373
Other liabilities336,539 347,621
Total liabilities20,813,966 19,918,727
Stockholders' equity
Common stock ($0.01 par value; authorized 300,000,000 shares; issued/outstanding: 140,455,180 / 129,749,890 as of March 31, 2021; issued/outstanding: 140,191,133 / 129,912,272 as of December 31, 2020)1,405 1,402
Additional paid-in capital2,517,048 2,514,014
Retained earnings497,418 473,974
Accumulated other comprehensive (loss) income, net(43,435)31,604
Treasury stock (10,705,290 shares as of March 31, 2021 and 10,278,861 shares as of December 31, 2020)(288,806)(276,890)
Total stockholders' equity2,683,630 2,744,104
Total liabilities and stockholders' equity $ 23,497,596 $ 22,662,831

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
CONSOLIDATED BALANCE SHEETS
Amortized Cost $ 6,708,431 $ 5,985,031
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares)300,000,000 300,000,000
Common stock, issued (in shares)140,455,180 140,191,133
Common stock outstanding (in shares)129,749,890 129,912,272
Treasury stock (in shares)10,705,290 10,278,861

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in ThousandsCommon StockAdditional Paid-In CapitalRetained EarningsCumulative-effect adjustmentRetained EarningsAccumulated other comprehensive Income (loss)Treasury StockCumulative-effect adjustmentTotal
Balance (ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments) at Dec. 31, 2019 $ (12,517) $ (12,517)
Balance at Dec. 31, 2019 $ 1,399 $ 2,503,677 $ 437,072 $ (31,749) $ (270,141) $ 2,640,258
Balance (in shares) at Dec. 31, 2019129,928,479
Increase (Decrease) in Stockholders' Equity
Net income38,865 38,865
Cash dividends declared(33,782)(33,782)
Equity-based awards $ 2 2,800 (315)(1,504)983
Equity-based awards (in shares)117,248
Common stock repurchased(5,000)(5,000)
Common stock repurchased (in shares)(217,759)
Other comprehensive income (loss), net of tax35,878 35,878
Balance at Mar. 31, 2020 $ 1,401 2,506,477 429,323 4,129 (276,645)2,664,685
Balance (in shares) at Mar. 31, 2020129,827,968
Balance at Dec. 31, 2020 $ 1,402 2,514,014 473,974 31,604 (276,890) $ 2,744,104
Balance (in shares) at Dec. 31, 2020129,912,272 129,912,272
Increase (Decrease) in Stockholders' Equity
Net income57,693 $ 57,693
Cash dividends declared(33,812)(33,812)
Equity-based awards $ 3 3,034 (437)(2,373)227
Equity-based awards (in shares)170,082
Common stock repurchased(9,543)(9,543)
Common stock repurchased (in shares)(332,464)
Other comprehensive income (loss), net of tax(75,039)(75,039)
Balance at Mar. 31, 2021 $ 1,405 $ 2,517,048 $ 497,418 $ (43,435) $ (288,806) $ 2,683,630
Balance (in shares) at Mar. 31, 2021129,749,890 129,749,890

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares3 Months Ended
Mar. 31, 2021Mar. 31, 2020
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Cash dividends declared (in dollars per share) $ 0.26 $ 0.26

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cash flows from operating activities
Net income $ 57,693 $ 38,865
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses41,200
Depreciation, amortization and accretion, net13,643 17,121
Deferred income tax provision355 6,624
Stock-based compensation3,037 2,802
Other losses (gains)1,090 (15)
Originations of loans held for sale(61,552)(41,062)
Proceeds from sales of loans held for sale67,067 35,435
Net gains on sales of loans originated for investment and held for sale(1,486)(2,459)
Net gains on investment securities(85)
Change in assets and liabilities:
Net decrease (increase) in other assets27,030 (22,164)
Net increase (decrease) in other liabilities47,323 (128,111)
Net cash provided by (used in) operating activities154,200 (51,849)
Available-for-sale securities:
Proceeds from maturities and principal repayments448,655 259,447
Proceeds from calls and sales145 78,472
Purchases(1,178,760)(272,324)
Other investments:
Proceeds from sales2,404 8,492
Purchases(14,515)(9,196)
Loans:
Net increase in loans and leases resulting from originations and principal repayments(45,193)(276,113)
Proceeds from sales of loans originated for investment220 132,011
Purchases of loans(558)(30,244)
Proceeds from bank-owned life insurance906
Purchases of premises, equipment and software(3,791)(14,728)
Proceeds from sales of premises and equipment185
Proceeds from sales of other real estate owned69
Other(1,171)(1,035)
Net cash used in investing activities(792,564)(124,058)
Cash flows from financing activities
Net increase in deposits905,958 575,008
Dividends paid(33,812)(33,782)
Stock tendered for payment of withholding taxes(2,373)(1,504)
Common stock repurchased(9,543)(5,000)
Net cash provided by financing activities860,230 534,722
Net increase in cash and cash equivalents221,866 358,815
Cash and cash equivalents at beginning of period1,040,944 694,017
Cash and cash equivalents at end of period1,262,810 1,052,832
Supplemental disclosures
Interest paid8,894 24,163
Income taxes paid, net of income tax refunds981 5,165
Noncash investing and financing activities:
Operating lease right-of-use assets obtained in exchange for new lease obligations6,864
Transfers from loans and leases to loans held for sale $ 1,840 $ 131,201

Organization and Basis of Prese

Organization and Basis of Presentation3 Months Ended
Mar. 31, 2021
Organization and Basis of Presentation.
Organization and Basis of Presentation1. Organization and Basis of Presentation ​ First Hawaiian, Inc. (“FHI” or the “Parent”), a bank holding company, owns 100% of the outstanding common stock of First Hawaiian Bank (“FHB” or the “Bank”), its only direct, wholly owned subsidiary. FHB offers a comprehensive suite of banking services, including loans, deposit products, wealth management, insurance, trust, retirement planning, credit card and merchant processing services, to consumer and commercial customers. ​ The accompanying unaudited interim consolidated financial statements of First Hawaiian, Inc. and Subsidiary (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. ​ The accompanying unaudited interim consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. ​ In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair presentation of the interim period consolidated financial information, have been made. Results of operations for interim periods are not necessarily indicative of results to be expected for the entire year. Intercompany account balances and transactions have been eliminated in consolidation. ​ Use of Estimates in the Preparation of Financial Statements ​ The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Although these estimates are based on management’s best knowledge of current events, actual results may differ from these estimates. ​ Accounting Standards Adopted in 2021 ​ In October 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-08, Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs ​ Recent Accounting Pronouncements ​ There were no ASUs issued by the FASB that were applicable to the Company in future reporting periods.

Investment Securities

Investment Securities3 Months Ended
Mar. 31, 2021
Investment Securities
Investment Securities2. Investment Securities ​ As of March 31, 2021 and December 31, 2020, investment securities consisted predominantly of the following investment categories: ​ U.S. Treasury and debt securities ​ Mortgage-backed securities ​ Collateralized mortgage obligations ​ As of March 31, 2021 and December 31, 2020, all of the Company’s investment securities were classified as available-for-sale. Amortized cost and fair value of securities as of March 31, 2021 and December 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ December 31, 2020 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (dollars in thousands) Cost Gains Losses Value Cost Gains Losses Value U.S. Treasury and government agency debt securities ​ $ 177,745 ​ $ 447 ​ $ (2,468) ​ $ 175,724 ​ $ 170,123 ​ $ 1,359 ​ $ (61) ​ $ 171,421 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government agency ​ ​ 129,908 ​ ​ 3,986 ​ ​ — ​ ​ 133,894 ​ ​ 155,169 ​ ​ 5,293 ​ ​ — ​ ​ 160,462 Residential - Government-sponsored enterprises ​ ​ 797,426 ​ ​ 10,867 ​ ​ (7,373) ​ ​ 800,920 ​ ​ 434,282 ​ ​ 13,643 ​ ​ (725) ​ ​ 447,200 Commercial - Government agency ​ ​ 523,293 ​ ​ 8,068 ​ ​ (3,845) ​ ​ 527,516 ​ ​ 583,232 ​ ​ 16,537 ​ ​ (119) ​ ​ 599,650 Commercial - Government-sponsored enterprises ​ ​ 1,180,034 ​ ​ 1,676 ​ ​ (47,535) ​ ​ 1,134,175 ​ ​ 931,095 ​ ​ 9,045 ​ ​ (7,983) ​ ​ 932,157 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ 1,818,181 ​ ​ 29,899 ​ ​ (2,982) ​ ​ 1,845,098 ​ ​ 1,902,326 ​ ​ 32,246 ​ ​ (1,019) ​ ​ 1,933,553 Government-sponsored enterprises ​ ​ 2,081,844 ​ ​ 15,537 ​ ​ (22,229) ​ ​ 2,075,152 ​ ​ 1,808,804 ​ ​ 18,991 ​ ​ (823) ​ ​ 1,826,972 Total available-for-sale securities ​ $ 6,708,431 ​ $ 70,480 ​ $ (86,432) ​ $ 6,692,479 ​ $ 5,985,031 ​ $ 97,114 ​ $ (10,730) ​ $ 6,071,415 ​ Accrued interest receivable related to available-for-sale investment securities was $11.3 million and $10.6 million as of March 31, 2021 and December 31, 2020, respectively, and is recorded separately from the amortized cost basis of investment securities on the Company’s interim consolidated balance sheets. ​ Proceeds from calls and sales of investment securities were $0.1 million and nil for the three months ended March 31, 2021, respectively. Proceeds from calls and sales of investment securities were $75.0 million and $3.5 million, respectively, for the three months ended March 31, 2020. The Company recorded gross realized gains of nil and gross realized losses of nil for the three months ended March 31, 2021. The Company recorded gross realized gains of $0.1 million and gross realized losses of nil for the three months ended March 31, 2020. The income tax benefit related to the Company’s net realized loss on the sale of investment securities was nil during the three months ended March 31, 2021. The income tax expense related to the net realized gains on the sale of investment securities was nil for the three months ended March 31, 2020. Gains and losses realized on sales of securities are determined using the specific identification method. ​ Interest income from taxable investment securities was $22.1 million and $21.2 million, respectively, for the three months ended March 31, 2021 and 2020. Interest income from non-taxable investment securities was $1.0 million and nil, respectively, during the three months ended March 31, 2021 and 2020. ​ The amortized cost and fair value of debt securities issued by the U.S. Treasury and government agencies as of March 31, 2021, by contractual maturity, are shown below. Mortgage-backed securities and collateralized mortgage obligations are disclosed separately in the table below as remaining expected maturities will differ from contractual maturities as borrowers have the right to prepay obligations. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ Amortized ​ Fair (dollars in thousands) Cost Value Due in one year or less ​ $ — ​ $ — Due after one year through five years ​ ​ 41,513 ​ ​ 41,878 Due after five years through ten years ​ ​ 83,988 ​ ​ 83,461 Due after ten years ​ ​ 52,244 ​ ​ 50,385 ​ ​ ​ 177,745 ​ ​ 175,724 ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ ​ ​ Residential - Government agency ​ ​ 129,908 ​ ​ 133,894 Residential - Government-sponsored enterprises ​ ​ 797,426 ​ ​ 800,920 Commercial - Government agency ​ ​ 523,293 ​ ​ 527,516 Commercial - Government-sponsored enterprises ​ ​ 1,180,034 ​ ​ 1,134,175 Total mortgage-backed securities ​ ​ 2,630,661 ​ ​ 2,596,505 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ Government agency ​ ​ 1,818,181 ​ ​ 1,845,098 Government-sponsored enterprises ​ ​ 2,081,844 ​ ​ 2,075,152 Total collateralized mortgage obligations ​ ​ 3,900,025 ​ ​ 3,920,250 Total available-for-sale securities ​ $ 6,708,431 ​ $ 6,692,479 ​ At March 31, 2021, pledged securities totaled $2.6 billion, of which $2.4 billion was pledged to secure public deposits and $184.2 million was pledged to secure other financial transactions. At December 31, 2020, pledged securities totaled $2.4 billion, of which $2.3 billion was pledged to secure public deposits and $186.1 million was pledged to secure other financial transactions. ​ The Company held no securities of any single issuer, other than debt securities issued by the U.S. government, government agencies and government-sponsored enterprises, taken in the aggregate, which were in excess of 10% of stockholders’ equity as of March 31, 2021 or December 31, 2020. ​ The following tables present the unrealized gross losses and fair values of securities in the available-for-sale portfolio by length of time that the 145 and 50 individual securities in each category have been in a continuous loss position as of March 31, 2021 and December 31, 2020, respectively. The unrealized losses on investment securities were 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time in Continuous Loss as of March 31, 2021 ​ ​ Less Than 12 Months ​ 12 Months or More ​ Total ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ (dollars in thousands) Losses Fair Value Losses Fair Value Losses Fair Value U.S. Treasury and government agency debt securities ​ $ (2,468) ​ $ 121,457 ​ $ — ​ $ — ​ $ (2,468) ​ $ 121,457 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government-sponsored enterprises ​ ​ (7,373) ​ ​ 511,463 ​ ​ — ​ ​ — ​ ​ (7,373) ​ ​ 511,463 Commercial - Government agency ​ ​ (3,845) ​ ​ 248,776 ​ ​ — ​ ​ — ​ ​ (3,845) ​ ​ 248,776 Commercial - Government-sponsored enterprises ​ ​ (47,535) ​ ​ 898,725 ​ ​ — ​ ​ — ​ ​ (47,535) ​ ​ 898,725 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ (2,974) ​ ​ 370,875 ​ ​ (8) ​ ​ 5,020 ​ ​ (2,982) ​ ​ 375,895 Government-sponsored enterprises ​ ​ (22,229) ​ ​ 1,036,086 ​ ​ — ​ ​ — ​ ​ (22,229) ​ ​ 1,036,086 Total available-for-sale securities with unrealized losses ​ $ (86,424) ​ $ 3,187,382 ​ $ (8) ​ $ 5,020 ​ $ (86,432) ​ $ 3,192,402 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time in Continuous Loss as of December 31, 2020 ​ ​ Less Than 12 Months ​ 12 Months or More ​ Total ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ (dollars in thousands) Losses Fair Value Losses Fair Value Losses Fair Value U.S. Treasury and government agency debt securities ​ $ (61) ​ $ 38,507 ​ $ — ​ $ — ​ $ (61) ​ $ 38,507 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government-sponsored enterprises ​ ​ (725) ​ ​ 64,987 ​ ​ — ​ ​ — ​ ​ (725) ​ ​ 64,987 Commercial - Government agency ​ ​ (119) ​ ​ 32,346 ​ ​ — ​ ​ — ​ ​ (119) ​ ​ 32,346 Commercial - Government-sponsored enterprises ​ ​ (7,983) ​ ​ 427,759 ​ ​ — ​ ​ — ​ ​ (7,983) ​ ​ 427,759 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ (994) ​ ​ 209,124 ​ ​ (25) ​ ​ 6,190 ​ ​ (1,019) ​ ​ 215,314 Government-sponsored enterprises ​ ​ (823) ​ ​ 296,160 ​ ​ — ​ ​ — ​ ​ (823) ​ ​ 296,160 Total available-for-sale securities with unrealized losses ​ $ (10,705) ​ $ 1,068,883 ​ $ (25) ​ $ 6,190 ​ $ (10,730) ​ $ 1,075,073 ​ At March 31, 2021 and December 31, 2020, the Company did not have any securities with the intent to sell and determined it was more likely than not that the Company would not be required to sell the securities prior to recovery of the amortized cost basis. As the Company had the intent and ability to hold the remaining securities in an unrealized loss position as of March 31, 2021 and December 31, 2020, each security with an unrealized loss position in the above tables has been further assessed to determine if a credit loss exists. As of March 31, 2021 and December 31, 2020, the Company did not expect any credit losses in its debt securities and no credit losses were recognized on securities during the three months ended March 31, 2021 and for the year ended December 31, 2020. ​ As of March 31, 2021 and December 31, 2020, the Company’s available-for-sale investment securities were comprised entirely of debt, mortgage-backed securities and collateralized mortgage obligations issued by the U.S. Government and its agencies. Management has concluded that the long history with no credit losses from these issuers indicates an expectation that nonpayment of the amortized cost basis is zero. The Company’s available-for-sale investment securities are explicitly or implicitly fully guaranteed by the U.S. government. The U.S. government can print its own currency and its currency is routinely held by central banks and other major financial institutions. The dollar is used in international commerce, and commonly is viewed as a reserve currency, all of which qualitatively indicates that historical credit loss information should be minimally affected by current conditions and reasonable and supportable forecasts. Thus, the Company has not recorded an allowance for credit losses for its available-for-sale debt securities as of March 31, 2021 and December 31, 2020. ​ Visa Class B Restricted Shares ​ In 2008, the Company received 394,000 Visa Class B restricted shares as part of Visa’s IPO. Visa Class B restricted shares are not currently convertible to publicly traded Visa Class A common shares, and only transferable in limited circumstances, until the settlement of certain litigation which are indemnified by Visa members, including the Company. As there are existing transfer restrictions and the outcome of the aforementioned litigation is uncertain, these shares were included in the consolidated balance sheets at their historical cost of $0. ​ In 2016, the Company recorded a $22.7 million net realized gain related to the sale of 274,000 Visa Class B restricted shares. Concurrent with the sale of the Visa Class B restricted shares, the Company entered into an agreement with the buyer that requires payment to the buyer in the event Visa reduces each member bank’s Class B conversion rate to unrestricted Class A common shares. On June 28, 2018, Visa additionally funded its litigation escrow account, thereby reducing each member bank’s Class B conversion rate to unrestricted Class A common shares. Accordingly, on July 5, 2018, Visa announced a decrease in conversion rate from 1.6483 to 1.6298, effective June 28, 2018. In July 2018, the Company made a payment of approximately $0.7 million to the buyer as a result of the reduction in the Visa Class B conversion rate. On September 27, 2019, Visa additionally funded its litigation escrow account, thereby further reducing each member bank’s Class B conversion rate to unrestricted Class A common shares. Accordingly, on September 30, 2019, Visa announced a decrease in conversion rate from 1.6298 to 1.6228, effective September 27, 2019. In October 2019, the Company made a payment of approximately $0.3 million to the buyer as a result of the reduction in the Visa Class B conversion rate. See “Note 11. Derivative Financial Instruments” for more information. ​ The Company held approximately 120,000 Visa Class B restricted shares as of both March 31, 2021 and December 31, 2020. These shares continued to be carried at $0 cost basis as of both March 31, 2021 and December 31, 2020.

Loans and Leases

Loans and Leases3 Months Ended
Mar. 31, 2021
Loans and Leases.
Loans and Leases3. Loans and Leases ​ As of March 31, 2021 and December 31, 2020, loans and leases were comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (dollars in thousands) 2021 2020 Commercial and industrial ​ $ 3,121,436 ​ $ 3,019,507 Commercial real estate ​ ​ 3,396,233 ​ ​ 3,392,676 Construction ​ ​ 739,271 ​ ​ 735,819 Residential: ​ ​ ​ ​ ​ ​ Residential mortgage ​ ​ 3,715,676 ​ 3,690,218 Home equity line ​ ​ 805,746 ​ ​ 841,624 Total residential ​ 4,521,422 ​ ​ 4,531,842 Consumer ​ ​ 1,283,779 ​ ​ 1,353,842 Lease financing ​ ​ 238,148 ​ ​ 245,411 Total loans and leases ​ $ 13,300,289 ​ $ 13,279,097 ​ ​ ​ As of both March 31, 2021 and December 31, 2020, residential real estate loans totaling $2.9 billion were pledged to collateralize the Company’s borrowing capacity at the Federal Home Loan Bank of Des Moines (“FHLB”), and consumer, commercial and industrial, commercial real estate and residential real estate loans totaling $1.9 billion were pledged to collateralize the Company’s borrowing capacity at the Federal Reserve Bank of San Francisco (“FRB”). Residential real estate loans collateralized by properties that were in the process of foreclosure totaled $2.8 million and $2.3 million as of March 31, 2021 and December 31, 2020, respectively. ​ In the course of evaluating the credit risk presented by a customer and the pricing that will adequately compensate the Company for assuming that risk, management may require a certain amount of collateral support. The type of collateral held varies, but may include accounts receivable, inventory, land, buildings, equipment, income-producing commercial properties and residential real estate. The Company applies the same collateral policy for loans whether they are funded immediately or on a delayed basis. The loan and lease portfolio is principally located in Hawaii and, to a lesser extent, on the U.S. Mainland, Guam and Saipan. The risk inherent in the portfolio depends upon both the economic strength and stability of the state or territories, which affects property values, and the financial strength and creditworthiness of the borrowers.

Allowance for Credit Losses

Allowance for Credit Losses3 Months Ended
Mar. 31, 2021
Allowance for Credit Losses
Allowance for Credit Losses4. Allowance for Credit Losses ​ The Company maintains the allowance for credit losses for loans and leases (the “ACL”) that is deducted from the amortized cost basis of loans and leases to present the net carrying value of loans and leases expected to be collected. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount of loans and leases. ​ The Company also maintains an estimated reserve for unfunded commitments on the unaudited interim consolidated balance sheets. The reserve for unfunded commitments is reduced in the period in which the off-balance sheet financial instruments expire, loan funding occurs, or is otherwise settled. ​ In response to the COVID-19 pandemic, on March 27, 2020, the CARES Act was signed into law. The CARES Act creates a forbearance program for federally backed mortgage loans, protects borrowers from negative credit reporting due to loan accommodations related to the National Emergency, and provides financial institutions the option to temporarily suspend certain requirements under GAAP related to troubled debt restructurings (“TDRs”) for a limited period of time to account for the effects of COVID-19. Financial institutions accounting for eligible loans under the CARES Act are not required to report such loans as TDRs in accordance with GAAP. In addition, Interagency Statements were issued on March 22, 2020 and April 7, 2020 to encourage financial institutions to work prudently with borrowers and to describe the agencies’ interpretation of how current accounting rules under GAAP apply to certain COVID-19 related modifications. The agencies confirmed with the FASB that short-term modifications (e.g., six months or less) for payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant and made on a good faith basis in response to borrowers impacted by COVID-19 who were current prior to any relief are not TDRs under GAAP. The agencies also confirmed that these short-term modifications should not be reported as being on nonaccrual status and should not be considered past due during the period of the deferral. The Company has adopted the provisions of both the CARES Act and Interagency Statements. The Company is first applying the CARES Act guidance in determining if certain loan modifications are not required to be reported as TDRs. If the loan modification does not qualify under the CARES Act, then the Interagency Statement guidance is applied. On December 27, 2020, the Consolidated Appropriations Act – 2021 (the “CAA”) was signed into law, which extends the temporary relief from TDR reporting through the earlier of (1) January 1, 2022, or (2) 60 days after the date on which the national emergency concerning COVID-19 terminates. The interim consolidated financial information below reflects the application of this guidance. ​ Rollforward of the Allowance for Credit Losses ​ The following presents the activity in the ACL by class of loans and leases for the three months ended March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ ​ Commercial Lending ​ Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ ​ ​ ​ ​ ​ and ​ Real ​ ​ ​ Lease ​ Residential ​ Equity ​ ​ ​ ​ ​ ​ (dollars in thousands) Industrial Estate Construction Financing Mortgage Line Consumer Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 24,711 ​ $ 58,123 ​ $ 10,039 ​ $ 3,298 ​ $ 40,461 ​ $ 7,163 ​ $ 64,659 ​ $ 208,454 Charge-offs ​ ​ (963) ​ ​ (66) ​ ​ — ​ ​ — ​ ​ (98) ​ ​ — ​ ​ (6,541) ​ ​ (7,668) Recoveries ​ ​ 215 ​ ​ 3 ​ ​ 166 ​ ​ — ​ ​ 17 ​ ​ 24 ​ ​ 2,655 ​ ​ 3,080 Increase (decrease) in Provision ​ ​ 3,359 ​ ​ (6,369) ​ ​ 347 ​ ​ (101) ​ ​ (1,909) ​ ​ (519) ​ ​ 1,692 ​ ​ (3,500) Balance at end of period ​ $ 27,322 ​ $ 51,691 ​ $ 10,552 ​ $ 3,197 ​ $ 38,471 ​ $ 6,668 ​ $ 62,465 ​ $ 200,366 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ Commercial Lending ​ Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Real ​ ​ ​ Lease ​ Residential ​ Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Industrial Estate Construction Financing Mortgage Line Consumer Unallocated Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 28,975 ​ $ 22,325 ​ $ 4,844 ​ $ 424 ​ $ 29,303 ​ $ 9,876 ​ $ 34,644 ​ $ 139 ​ $ 130,530 Adoption of ASU No. 2016-13 ​ ​ (16,105) ​ ​ 10,559 ​ ​ (1,803) ​ ​ 207 ​ ​ (2,793) ​ ​ (4,731) ​ ​ 15,575 ​ ​ (139) ​ ​ 770 Charge-offs ​ ​ (201) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (8) ​ ​ (8,597) ​ ​ — ​ ​ (8,806) Recoveries ​ ​ 220 ​ ​ — ​ ​ 110 ​ ​ — ​ ​ 135 ​ ​ 122 ​ ​ 2,083 ​ ​ — ​ ​ 2,670 Increase in Provision ​ ​ 7,995 ​ ​ 9,954 ​ ​ 5,673 ​ ​ 220 ​ ​ 3,376 ​ ​ 1,297 ​ ​ 12,334 ​ ​ — ​ ​ 40,849 Balance at end of period ​ $ 20,884 ​ $ 42,838 ​ $ 8,824 ​ $ 851 ​ $ 30,021 ​ $ 6,556 ​ $ 56,039 ​ $ — ​ $ 166,013 ​ Rollforward of the Reserve for Unfunded Commitments ​ The following presents the activity in the Reserve for Unfunded Commitments for the three months ended March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ ​ Commercial Lending ​ Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ ​ ​ ​ ​ ​ and ​ Real ​ ​ ​ Lease ​ Residential ​ Equity ​ ​ ​ ​ ​ ​ (dollars in thousands) Industrial Estate Construction Financing Mortgage Line Consumer Total Reserve for unfunded commitments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 11,719 ​ $ 1,328 ​ $ 9,037 ​ $ — ​ $ 2 ​ $ 8,452 ​ $ 65 ​ $ 30,603 Increase (decrease) in Provision ​ ​ 4,410 ​ ​ (216) ​ ​ (724) ​ ​ — ​ ​ (2) ​ ​ 48 ​ ​ (16) ​ ​ 3,500 Balance at end of period ​ $ 16,129 ​ $ 1,112 ​ $ 8,313 ​ $ — ​ $ — ​ $ 8,500 ​ $ 49 ​ $ 34,103 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ Commercial Lending ​ Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ ​ ​ ​ ​ ​ and ​ Real ​ ​ ​ Lease ​ Residential ​ Equity ​ ​ ​ ​ ​ ​ (dollars in thousands) Industrial Estate Construction Financing Mortgage Line Consumer Total Reserve for unfunded commitments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 600 ​ $ 600 Adoption of ASU No. 2016-13 ​ ​ 5,390 ​ ​ 778 ​ ​ 4,119 ​ ​ — ​ ​ 7 ​ ​ 6,587 ​ ​ (581) ​ ​ 16,300 Increase (decrease) in Provision ​ ​ (599) ​ ​ (82) ​ ​ 694 ​ ​ — ​ ​ (6) ​ ​ 340 ​ ​ 4 ​ ​ 351 Balance at end of period ​ $ 4,791 ​ $ 696 ​ $ 4,813 ​ $ — ​ $ 1 ​ $ 6,927 ​ $ 23 ​ $ 17,251 ​ Credit Quality Information ​ The Company performs an internal loan review and grading or scoring procedures on an ongoing basis. The review provides management with periodic information as to the quality of the loan portfolio and effectiveness of the Company’s lending policies and procedures. The objective of the loan review and grading or scoring procedures is to identify, in a timely manner, existing or emerging credit quality issues so that appropriate steps can be initiated to avoid or minimize future losses. ​ Loans and leases subject to grading primarily include: commercial and industrial loans, commercial real estate loans, construction loans and lease financing. Other loans subject to grading include installment loans to businesses or individuals for business and commercial purposes, overdraft lines of credit, commercial credit cards, and other credits as may be determined. Credit quality indicators for internally graded loans and leases are generally updated on an annual basis or on a quarterly basis for those loans and leases deemed to be of potentially higher risk. ​ An internal credit risk rating system is used to determine loan grade and is based on borrower credit risk and transactional risk. The loan grading process is a mechanism used to determine the risk of a particular borrower and is based on the following factors of a borrower: character, earnings and operating cash flow, asset and liability structure, debt capacity, management and controls, borrowing entity, and industry and operating environment. ​ Pass ​ Special Mention ​ Substandard ​ Doubtful ​ Loss ​ Loans that are primarily monitored for credit quality using FICO scores include: residential mortgage loans, home equity lines and consumer loans. FICO scores are calculated primarily based on a consideration of payment history, the current amount of debt, the length of credit history available, a recent history of new sources of credit and the mix of credit type. FICO scores are updated on a monthly, quarterly or bi-annual basis, depending on the product type. ​ The amortized cost basis by year of origination and credit quality indicator of the Company’s loans and leases as of March 31, 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Converted ​ ​ ​ ​ ​ Term Loans ​ Revolving ​ to Term ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Amortized ​ ​ ​ (dollars in thousands) ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior ​ Cost Basis ​ Cost Basis ​ Total Commercial Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 495,898 ​ $ 781,914 ​ $ 315,190 ​ $ 152,290 ​ $ 51,136 ​ $ 218,781 ​ $ 785,046 ​ $ 27,922 ​ $ 2,828,177 Special Mention ​ ​ — ​ ​ 17,608 ​ ​ 10,957 ​ ​ 19,751 ​ ​ 1,930 ​ ​ 5,373 ​ ​ 66,867 ​ ​ 607 ​ ​ 123,093 Substandard ​ ​ — ​ ​ 23,098 ​ ​ 2,808 ​ ​ 16,913 ​ ​ 584 ​ ​ 12,048 ​ ​ 28,361 ​ ​ 1,367 ​ ​ 85,179 Other (1) ​ ​ 3,252 ​ ​ 9,848 ​ ​ 11,793 ​ ​ 7,889 ​ ​ 4,362 ​ ​ 1,496 ​ ​ 46,347 ​ ​ — ​ ​ 84,987 Total Commercial and Industrial ​ ​ 499,150 ​ ​ 832,468 ​ ​ 340,748 ​ ​ 196,843 ​ ​ 58,012 ​ ​ 237,698 ​ ​ 926,621 ​ ​ 29,896 ​ ​ 3,121,436 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 41,958 ​ ​ 346,445 ​ ​ 613,930 ​ ​ 556,954 ​ ​ 454,433 ​ ​ 1,104,669 ​ ​ 51,280 ​ ​ 8 ​ ​ 3,169,677 Special Mention ​ ​ — ​ ​ 1,491 ​ ​ 58,763 ​ ​ 14,518 ​ ​ 33,401 ​ ​ 64,971 ​ ​ — ​ ​ — ​ ​ 173,144 Substandard ​ ​ — ​ ​ 346 ​ ​ — ​ ​ 14,751 ​ ​ 3,740 ​ ​ 26,082 ​ ​ 8,004 ​ ​ — ​ ​ 52,923 Other (1) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 489 ​ ​ — ​ ​ — ​ ​ 489 Total Commercial Real Estate ​ ​ 41,958 ​ ​ 348,282 ​ ​ 672,693 ​ ​ 586,223 ​ ​ 491,574 ​ ​ 1,196,211 ​ ​ 59,284 ​ ​ 8 ​ ​ 3,396,233 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 32,201 ​ ​ 73,512 ​ ​ 260,522 ​ ​ 162,052 ​ ​ 58,537 ​ ​ 63,624 ​ ​ 24,043 ​ ​ — ​ ​ 674,491 Special Mention ​ ​ — ​ ​ — ​ ​ 507 ​ ​ 706 ​ ​ 4,429 ​ ​ 9,172 ​ ​ — ​ ​ — ​ ​ 14,814 Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ 536 ​ ​ — ​ ​ 1,478 ​ ​ — ​ ​ — ​ ​ 2,014 Other (1) ​ ​ 5,410 ​ ​ 16,755 ​ ​ 9,924 ​ ​ 7,588 ​ ​ 3,655 ​ ​ 4,040 ​ ​ 580 ​ ​ — ​ ​ 47,952 Total Construction ​ ​ 37,611 ​ ​ 90,267 ​ ​ 270,953 ​ ​ 170,882 ​ ​ 66,621 ​ ​ 78,314 ​ ​ 24,623 ​ ​ — ​ ​ 739,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease Financing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 6,487 ​ ​ 73,461 ​ ​ 58,375 ​ ​ 12,521 ​ ​ 16,410 ​ ​ 60,734 ​ ​ — ​ ​ — ​ ​ 227,988 Special Mention ​ ​ 566 ​ ​ 334 ​ ​ 843 ​ ​ 286 ​ ​ 1,223 ​ ​ 599 ​ ​ — ​ ​ — ​ ​ 3,851 Substandard ​ ​ — ​ ​ 2,714 ​ ​ 1,673 ​ ​ 293 ​ ​ 1,107 ​ ​ 522 ​ ​ — ​ ​ — ​ ​ 6,309 Total Lease Financing ​ ​ 7,053 ​ ​ 76,509 ​ ​ 60,891 ​ ​ 13,100 ​ ​ 18,740 ​ ​ 61,855 ​ ​ — ​ ​ — ​ ​ 238,148 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Commercial Lending ​ $ 585,772 ​ $ 1,347,526 ​ $ 1,345,285 ​ $ 967,048 ​ $ 634,947 ​ $ 1,574,078 ​ $ 1,010,528 ​ $ 29,904 ​ $ 7,495,088 (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Converted ​ ​ ​ ​ ​ Term Loans ​ Revolving ​ to Term ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Amortized ​ ​ ​ (dollars in thousands) ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior ​ Cost Basis ​ Cost Basis ​ Total Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ $ 269,847 ​ $ 698,143 ​ $ 355,459 ​ $ 261,304 ​ $ 320,423 ​ $ 1,031,922 ​ $ — ​ $ — ​ $ 2,937,098 680 - 739 ​ ​ 32,425 ​ ​ 83,210 ​ ​ 51,384 ​ ​ 41,764 ​ ​ 48,039 ​ ​ 168,279 ​ ​ — ​ ​ — ​ ​ 425,101 620 - 679 ​ ​ 4,220 ​ ​ 15,727 ​ ​ 7,626 ​ ​ 11,214 ​ ​ 9,310 ​ ​ 49,018 ​ ​ — ​ ​ — ​ ​ 97,115 550 - 619 ​ ​ — ​ ​ — ​ ​ 1,945 ​ ​ 2,810 ​ ​ 2,906 ​ ​ 14,044 ​ ​ — ​ ​ — ​ ​ 21,705 Less than 550 ​ ​ — ​ ​ — ​ ​ 854 ​ ​ 602 ​ ​ 2,914 ​ ​ 2,673 ​ ​ — ​ ​ — ​ ​ 7,043 No Score (3) ​ ​ 4,599 ​ ​ 12,498 ​ ​ 17,761 ​ ​ 21,197 ​ ​ 19,972 ​ ​ 55,404 ​ ​ — ​ ​ — ​ ​ 131,431 Other (2) ​ ​ 5,767 ​ ​ 20,213 ​ ​ 13,584 ​ ​ 13,754 ​ ​ 20,607 ​ ​ 21,516 ​ ​ 580 ​ ​ 162 ​ ​ 96,183 Total Residential Mortgage ​ ​ 316,858 ​ ​ 829,791 ​ ​ 448,613 ​ ​ 352,645 ​ ​ 424,171 ​ ​ 1,342,856 ​ ​ 580 ​ ​ 162 ​ ​ 3,715,676 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home Equity Line ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 589,662 ​ ​ 2,108 ​ ​ 591,770 680 - 739 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 149,384 ​ ​ 3,537 ​ ​ 152,921 620 - 679 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 37,325 ​ ​ 1,432 ​ ​ 38,757 550 - 619 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 12,870 ​ ​ 1,419 ​ ​ 14,289 Less than 550 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,641 ​ ​ 359 ​ ​ 4,000 No Score (3) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 4,009 ​ ​ — ​ ​ 4,009 Total Home Equity Line ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 796,891 ​ ​ 8,855 ​ ​ 805,746 Total Residential Lending ​ ​ 316,858 ​ ​ 829,791 ​ ​ 448,613 ​ ​ 352,645 ​ ​ 424,171 ​ ​ 1,342,856 ​ ​ 797,471 ​ ​ 9,017 ​ ​ 4,521,422 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ ​ 37,038 ​ ​ 105,809 ​ ​ 109,925 ​ ​ 86,146 ​ ​ 44,909 ​ ​ 22,098 ​ ​ 107,725 ​ ​ 266 ​ ​ 513,916 680 - 739 ​ ​ 19,163 ​ ​ 79,376 ​ ​ 82,058 ​ ​ 58,077 ​ ​ 31,081 ​ ​ 16,370 ​ ​ 72,053 ​ ​ 774 ​ ​ 358,952 620 - 679 ​ ​ 6,167 ​ ​ 38,079 ​ ​ 44,459 ​ ​ 30,055 ​ ​ 21,453 ​ ​ 11,715 ​ ​ 33,935 ​ ​ 1,213 ​ ​ 187,076 550 - 619 ​ ​ 337 ​ ​ 8,215 ​ ​ 18,414 ​ ​ 15,800 ​ ​ 13,267 ​ ​ 8,437 ​ ​ 11,582 ​ ​ 1,364 ​ ​ 77,416 Less than 550 ​ ​ 88 ​ ​ 2,644 ​ ​ 8,907 ​ ​ 7,785 ​ ​ 5,711 ​ ​ 3,445 ​ ​ 4,181 ​ ​ 719 ​ ​ 33,480 No Score (3) ​ ​ 955 ​ ​ 354 ​ ​ 99 ​ ​ 57 ​ ​ 99 ​ ​ 7 ​ ​ 32,161 ​ ​ 411 ​ ​ 34,143 Other (2) ​ ​ — ​ ​ 376 ​ ​ 1,774 ​ ​ 66 ​ ​ 2,183 ​ ​ 6,748 ​ ​ 67,649 ​ ​ — ​ ​ 78,796 Total Consumer Lending ​ ​ 63,748 ​ ​ 234,853 ​ ​ 265,636 ​ ​ 197,986 ​ ​ 118,703 ​ ​ 68,820 ​ ​ 329,286 ​ ​ 4,747 ​ ​ 1,283,779 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans and Leases ​ $ 966,378 ​ $ 2,412,170 ​ $ 2,059,534 ​ $ 1,517,679 ​ $ 1,177,821 ​ $ 2,985,754 ​ $ 2,137,285 ​ $ 43,668 ​ $ 13,300,289 (1) Other credit quality indicators used for monitoring purposes are primarily FICO scores. The majority of the loans in this population were originated to borrowers with a prime FICO score. (2) Other credit quality indicators used for monitoring purposes are primarily internal risk ratings. The majority of the loans in this population were graded with a “Pass” rating. (3) No FICO scores are primarily related to loans and leases extended to non-residents. Loans and leases of this nature are primarily secured by collateral and/or are closely monitored for performance. ​ The amortized cost basis by year of origination and credit quality indicator of the Company’s loans and leases as of December 31, 2020 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Converted ​ ​ ​ ​ ​ Term Loans ​ Revolving ​ to Term ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Amortized ​ ​ ​ (dollars in thousands) ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ Prior ​ Cost Basis ​ Cost Basis ​ Total Commercial Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 873,639 ​ $ 324,030 ​ $ 183,329 ​ $ 73,000 ​ $ 49,886 ​ $ 94,360 ​ $ 1,058,786 ​ $ 28,853 ​ $ 2,685,883 Special Mention ​ ​ 20,937 ​ ​ 10,370 ​ ​ 20,164 ​ ​ 2,099 ​ ​ 279 ​ ​ 8,316 ​ ​ 101,183 ​ ​ 1,549 ​ ​ 164,897 Substandard ​ ​ 23,804 ​ ​ 2,023 ​ ​ 2,568 ​ ​ 677 ​ ​ 4,063 ​ ​ 8,113 ​ ​ 33,775 ​ ​ 250 ​ ​ 75,273 Other (1) ​ ​ 13,142 ​ ​ 13,426 ​ ​ 9,246 ​ ​ 5,337 ​ ​ 1,867 ​ ​ 280 ​ ​ 50,156 ​ ​ — ​ ​ 93,454 Total Commercial and Industrial ​ ​ 931,522 ​ ​ 349,849 ​ ​ 215,307 ​ ​ 81,113 ​ ​ 56,095 ​ ​ 111,069 ​ ​ 1,243,900 ​ ​ 30,652 ​ ​ 3,019,507 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 342,845 ​ ​ 611,243 ​ ​ 541,104 ​ ​ 447,366 ​ ​ 295,426 ​ ​ 814,398 ​ ​ 47,604 ​ ​ 323 ​ ​ 3,100,309 Special Mention ​ ​ 1,500 ​ ​ 63,617 ​ ​ 26,187 ​ ​ 33,482 ​ ​ 37,841 ​ ​ 61,279 ​ ​ 2,999 ​ ​ — ​ ​ 226,905 Substandard ​ ​ 29 ​ ​ 3,964 ​ ​ 18,983 ​ ​ 3,779 ​ ​ 10,615 ​ ​ 18,083 ​ ​ 9,511 ​ ​ — ​ ​ 64,964 Other (1) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Total Commercial Real Estate ​ ​ 344,374 ​ ​ 678,824 ​ ​ 586,274 ​ ​ 484,627 ​ ​ 343,882 ​ ​ 894,258 ​ ​ 60,114 ​ ​ 323 ​ ​ 3,392,676 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 53,931 ​ ​ 233,730 ​ ​ 202,808 ​ ​ 83,792 ​ ​ 23,171 ​ ​ 41,536 ​ ​ 28,386 ​ ​ — ​ ​ 667,354 Special Mention ​ ​ — ​ ​ 508 ​ ​ 707 ​ ​ 4,717 ​ ​ — ​ ​ 9,172 ​ ​ — ​ ​ — ​ ​ 15,104 Substandard ​ ​ — ​ ​ — ​ ​ 541 ​ ​ 1,840 ​ ​ 521 ​ ​ 989 ​ ​ — ​ ​ — ​ ​ 3,891 Other (1) ​ ​ 16,578 ​ ​ 16,393 ​ ​ 7,775 ​ ​ 3,685 ​ ​ 1,800 ​ ​ 2,656 ​ ​ 583 ​ ​ — ​ ​ 49,470 Total Construction ​ ​ 70,509 ​ ​ 250,631 ​ ​ 211,831 ​ ​ 94,034 ​ ​ 25,492 ​ ​ 54,353 ​ ​ 28,969 ​ ​ — ​ ​ 735,819 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease Financing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 79,064 ​ ​ 60,717 ​ ​ 13,669 ​ ​ 17,207 ​ ​ 3,010 ​ ​ 61,266 ​ ​ — ​ ​ — ​ ​ 234,933 Special Mention ​ ​ 950 ​ ​ 892 ​ ​ 311 ​ ​ 1,300 ​ ​ 351 ​ ​ 295 ​ ​ — ​ ​ — ​ ​ 4,099 Substandard ​ ​ 2,708 ​ ​ 1,677 ​ ​ 327 ​ ​ 1,141 ​ ​ — ​ ​ 526 ​ ​ — ​ ​ — ​ ​ 6,379 Total Lease Financing ​ ​ 82,722 ​ ​ 63,286 ​ ​ 14,307 ​ ​ 19,648 ​ ​ 3,361 ​ ​ 62,087 ​ ​ — ​ ​ — ​ ​ 245,411 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Commercial Lending ​ $ 1,429,127 ​ $ 1,342,590 ​ $ 1,027,719 ​ $ 679,422 ​ $ 428,830 ​ $ 1,121,767 ​ $ 1,332,983 ​ $ 30,975 ​ $ 7,393,413 (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Converted ​ ​ ​ ​ ​ Term Loans ​ Revolving ​ to Term ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Amortized ​ ​ ​ (dollars in thousands) ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ Prior ​ Cost Basis ​ Cost Basis ​ Total Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ $ 728,807 ​ $ 384,248 ​ $ 290,484 ​ $ 361,297 ​ $ 314,971 ​ $ 830,795 ​ $ — ​ $ — ​ $ 2,910,602 680 - 739 ​ ​ 85,151 ​ ​ 53,090 ​ ​ 44,616 ​ ​ 50,703 ​ ​ 39,230 ​ ​ 144,537 ​ ​ — ​ ​ — ​ ​ 417,327 620 - 679 ​ ​ 15,767 ​ ​ 7,604 ​ ​ 11,460 ​ ​ 9,628 ​ ​ 7,982 ​ ​ 43,393 ​ ​ — ​ ​ — ​ ​ 95,834 550 - 619 ​ ​ — ​ ​ 1,971 ​ ​ 2,818 ​ ​ 2,920 ​ ​ 4,474 ​ ​ 10,144 ​ ​ — ​ ​ — ​ ​ 22,327 Less than 550 ​ ​ — ​ ​ 861 ​ ​ 593 ​ ​ 2,916 ​ ​ 594 ​ ​ 2,138 ​ ​ — ​ ​ — ​ ​ 7,102 No Score (3) ​ ​ 13,823 ​ ​ 18,861 ​ ​ 21,214 ​ ​ 21,821 ​ ​ 14,355 ​ ​ 45,147 ​ ​ — ​ ​ — ​ ​ 135,221 Other (2) ​ ​ 21,011 ​ ​ 15,860 ​ ​ 18,540 ​ ​ 22,677 ​ ​ 9,550 ​ ​ 13,426 ​ ​ 578 ​ ​ 163 ​ ​ 101,805 Total Residential Mortgage ​ ​ 864,559 ​ ​ 482,495 ​ ​ 389,725 ​ ​ 471,962 ​ ​ 391,156 ​ ​ 1,089,580 ​ ​ 578 ​ ​ 163 ​ ​ 3,690,218 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home Equity Line ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 608,282 ​ ​ 2,163 ​ ​ 610,445 680 - 739 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 159,886 ​ ​ 3,155 ​ ​ 163,041 620 - 679 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 44,005 ​ ​ 1,571 ​ ​ 45,576 550 - 619 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 11,644 ​ ​ 884 ​ ​ 12,528 Less than 550 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,159 ​ ​ 330 ​ ​ 5,489 No Score (3) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 4,545 ​ ​ — ​ ​ 4,545 Total Home Equity Line ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 833,521 ​ ​ 8,103 ​ ​ 841,624 Total Residential Lending ​ ​ 864,559 ​ ​ 482,495 ​ ​ 389,725 ​ ​ 471,962 ​ ​ 391,156 ​ ​ 1,089,580 ​ ​ 834,099 ​ ​ 8,266 ​ ​ 4,531,842 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ ​ 113,373 ​ ​ 122,965 ​ ​ 99,678 ​ ​ 54,691 ​ ​ 24,029 ​ ​ 6,034 ​ ​ 114,748 ​ ​ 275 ​ ​ 535,793 680 - 739 ​ ​ 83,316 ​ ​ 90,853 ​ ​ 66,143 ​ ​ 36,426 ​ ​ 16,358 ​ ​ 4,985 ​ ​ 76,391 ​ ​ 773 ​ ​ 375,245 620 - 679 ​ ​ 40,469 ​ ​ 48,904 ​ ​ 33,917 ​ ​ 24,705 ​ ​ 11,144 ​ ​ 3,788 ​ ​ 36,622 ​ ​ 1,221 ​ ​ 200,770 550 - 619 ​ ​ 9,125 ​ ​ 20,274 ​ ​ 17,693 ​ ​ 15,126 ​ ​ 7,825 ​ ​ 2,883 ​ ​ 12,980 ​ ​ 1,458 ​ ​ 87,364 Less than 550 ​ ​ 3,017 ​ ​ 10,139 ​ ​ 9,189 ​ ​ 6,517 ​ ​ 3,123 ​ ​ 1,118 ​ ​ 5,261 ​ ​ 799 ​ ​ 39,163 No Score (3) ​ ​ 339 ​ ​ 103 ​ ​ 64 ​ ​ 109 ​ ​ 10 ​ ​ — ​ ​ 33,854 ​ ​ 356 ​ ​ 34,835 Other (2) ​ ​ 380 ​ ​ 1,890 ​ ​ 73 ​ ​ 2,214 ​ ​ 45 ​ ​ 6,768 ​ ​ 69,302 ​ ​ — ​ ​ 80,672 Total Consumer Lending ​ ​ 250,019 ​ ​ 295,128 ​ ​ 226,757 ​ ​ 139,788 ​ ​ 62,534 ​ ​ 25,576 ​ ​ 349,158 ​ ​ 4,882 ​ ​ 1,353,842 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans and Leases ​ $ 2,543,705 ​ $ 2,120,213 ​ $ 1,644,201 ​ $ 1,291,172 ​ $ 882,520 ​ $ 2,236,923 ​ $ 2,516,240 ​ $ 44,123 ​ $ 13,279,097 (1) Other credit quality indicators used for monitoring purposes are primarily FICO scores. The majority of the loans in this population were originated to borrowers with a prime FICO score. (2) Other credit quality indicators used for monitoring purposes are primarily internal risk ratings. The majority of the loans in this population were graded with a “Pass” rating. (3) No FICO scores are primarily related to loans and leases extended to non-residents. Loans and leases of this nature are primarily secured by collateral and/or are closely monitored for performance. ​ There were no loans and leases graded as Loss as of March 31, 2021 and December 31, 2020. ​ The amortized cost basis of revolving loans that were converted to term loans during the three months ended March 31, 2021 and 2020 was as follows: ​ ​ ​ ​ ​ ​ ​ Three Months Ended (dollars in thousands) ​ March 31, 2021 Commercial and industrial ​ $ 229 Home equity line ​ ​ 1,079 Consumer ​ ​ 493 Total Revolving Loans Converted to Term Loans During the Period ​ $ 1,801 ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended (dollars in thousands) ​ March 31, 2020 Commercial and industrial ​ $ 28,228 Residential mortgage ​ ​ 296 Total Revolving Loans Converted to Term Loans During the Period ​ $ 28,524 ​ Past-Due Status ​ The Company continually updates its aging analysis for loans and leases to monitor the migration of loans and leases into past due categories. The Company considers loans and leases that are delinquent for 30 days or more to be past due. As of March 31, 2021 and December 31, 2020, the aging analysis of the amortized cost basis of the Company’s past due loans and leases was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ Past Due ​ ​ ​ ​ ​ Loans and ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ Leases Past ​ ​ ​ ​ ​ ​ Than or ​ ​ ​ ​ ​ ​ ​ Due 90 Days ​ ​ 30-59 ​ 60-89 ​ Equal to ​ ​ ​ ​ ​ ​ ​ or More and ​ ​ Days ​ Days ​ 90 Days ​ Total ​ ​ ​ Total Loans ​ Still Accruing (dollars in thousands) Past Due Past Due Past Due Past Due Current and Leases ​ Interest Commercial and industrial ​ $ 4,710 ​ $ 786 ​ $ 1,751 ​ $ 7,247 ​ $ 3,114,189 ​ $ 3,121,436 ​ $ 1,365 Commercial real estate ​ ​ 1,727 ​ ​ 443 ​ ​ 1,990 ​ ​ 4,160 ​ ​ 3,392,073 ​ ​ 3,396,233 ​ ​ 1,054 Construction ​ ​ 1,383 ​ ​ — ​ ​ 668 ​ ​ 2,051 ​ ​ 737,220 ​ ​ 739,271 ​ ​ 89 Lease financing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 238,148 ​ ​ 238,148 ​ ​ — Residential mortgage ​ ​ 11,659 ​ ​ 904 ​ ​ 3,152 ​ ​ 15,715 ​ ​ 3,699,961 ​ ​ 3,715,676 ​ ​ — Home equity line ​ ​ 1,744 ​ ​ 126 ​ ​ 4,975 ​ ​ 6,845 ​ ​ 798,901 ​ ​ 805,746 ​ ​ 4,975 Consumer ​ ​ 10,611 ​ ​ 2,282 ​ ​ 2,024 ​ ​ 14,917 ​ ​ 1,268,862 ​ ​ 1,283,779 ​ ​ 2,024 Total ​ $ 31,834 ​ $ 4,541 ​ $ 14,560 ​ $ 50,935 ​ $ 13,249,354 ​ $ 13,300,289 ​ $ 9,507 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Past Due ​ ​ ​ ​ ​ Loans and ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ Leases Past ​ ​ ​ ​ ​ ​ Than or ​ ​ ​ ​ ​ ​ ​ Due 90 Days ​ ​ 30-59 ​ 60-89 ​ Equal to ​ ​ ​ ​ ​ ​ ​ or More and ​ ​ Days ​ Days ​ 90 Days ​ Total ​ ​ ​ Total Loans ​ Still Accruing (dollars in thousands) Past Due Past Due Past Due Past Due Current and Leases ​ Interest Commercial and industrial ​ $ 2,585 ​ $ 604 ​ $ 2,626 ​ $ 5,815 ​ $ 3,013,692 ​ $ 3,019,507 ​ $ 2,108 Commercial real estate ​ ​ 75 ​ ​ 2,568 ​ ​ 963 ​ ​ 3,606 ​ ​ 3,389,070 ​ ​ 3,392,676 ​ ​ 882 Construction ​ ​ 779 ​ ​ 376 ​ ​ 2,137 ​ ​ 3,292 ​ ​ 732,527 ​ ​ 735,819 ​ ​ 93 Lease financing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 245,411 ​ ​ 245,411 ​ ​ — Residential mortgage ​ ​ 3,382 ​ ​ 4,125 ​ ​ 3,372 ​ ​ 10,879 ​ ​ 3,679,339 ​ ​ 3,690,218 ​ ​ — Home equity line ​ ​ 1,375 ​ ​ 743 ​ ​ 4,818 ​ ​ 6,936 ​ ​ 834,688 ​ ​ 841,624 ​ ​ 4,818 Consumer ​ ​ 18,492 ​ ​ 5,205 ​ ​ 3,266 ​ ​ 26,963 ​ ​ 1,326,879 ​ ​ 1,353,842 ​ ​ 3,266 Total ​ $ 26,688 ​ $ 13,621 ​ $ 17,182 ​ $ 57,491 ​ $ 13,221,606 ​ $ 13,279,097 ​ $ 11,167 ​ Nonaccrual Loans and Leases ​ The Company generally places a loan or lease on nonaccrual status when management believes that collection of principal or interest has become doubtful or when a loan or lease becomes 90 days past due as to principal or interest, unless it is well secured and in the process of collection. The Company charges off a loan or lease when facts indicate that the loan or lease is considered uncollectible. ​ The amortized cost basis of loans and leases on nonaccrual status as of March 31, 2021 and December 31, 2020 and the amortized cost basis of loans and leases on nonaccrual status with no ACL as of March 31, 2021 and December 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ Nonaccrual ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ and Leases ​ ​ ​ ​ ​ With No ​ Nonaccrual ​ ​ Allowance ​ Loans (dollars in thousands) for Credit Losses ​ and Leases Commercial and industrial ​ $ — ​ $ 593 Commercial real estate ​ ​ 857 ​ ​ 937 Construction ​ ​ — ​ ​ 579 Residential mortgage ​ ​ 1,311 ​ ​ 6,999 Total Nonaccrual Loans and Leases ​ $ 2,168 ​ $ 9,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Nonaccrual ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ and Leases ​ ​ ​ ​ ​ With No ​ Nonaccrual ​ ​ Allowance ​ Loans (dollars in thousands) for Credit Losses ​ and Leases Commercial and industrial ​ $ — ​ $ 518 Commercial real estate ​ ​ — ​ ​ 80 Construction ​ ​ 1,840 ​ ​ 2,043 Residential mortgage ​ ​ 1,316 ​ ​ 6,441 Total Nonaccrual Loans and Leases ​ $ 3,156 ​ $ 9,082 ​ For the three months ended March 31, 2021 and 2020, the Company recognized interest income of $0.1 million and nil, respectively, on nonaccrual loans and leases. Furthermore, for the three months ended March 31, 2021 and 2020, the amount of accrued interest receivables written off by reversing interest income was $0.4 million and not material, respectively. ​ Collateral-Dependent Loans and Leases ​ Collateral-dependent loans and leases are those for which repayment (on the basis of the Company’s assessment as of the reporting date) is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. As of March 31, 2021 and December 31, 2020, the amortized cost basis of collateral-dependent loans were $23.3 million and $21.0 million, respectively. These loans were primarily collateralized by residential real estate property and borrower assets. As of March 31, 2021 and December 31, 2020, the fair value of collateral on substantially all collateral-dependent loans were significantly in excess of their amortized cost basis. ​ Modifications ​ Commercial and industrial loans modified in a TDR may involve temporary interest-only payments, term and amortization extensions, and converting revolving credit lines to term loans. Modifications of commercial real estate and construction loans in a TDR may 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 new borrower or guarantor. Modifications of construction loans in a TDR may also involve extending the interest-only payment period. Interest continues to accrue on the missed payments and as a result, the effective yield on the loan remains unchanged. Residential real estate loans modified in a TDR may be comprised of loans where monthly payments are lowered to accommodate the borrowers' financial needs for a period of time, including extended interest-only periods and re-amortization of the balance. Modifications of consumer loans in a TDR may involve temporary or permanent reduced payments, temporary interest-only payments and below-market interest rates. ​ Loans modified in a TDR may already be on nonaccrual status and in some cases, partial charge-offs may have already been taken against the outstanding loan balance. Loans modified in a TDR are evaluated for impairment. As a result, this may have a financial effect of increasing the specific ACL associated with the loan. An ACL for impaired commercial loans, including commercial real estate and construction 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 or if the loan is collateral-dependent, the estimated fair value of the collateral, less any selling costs. An ACL for impaired residential real estate loans that have been modified in a TDR is measured based on the estimated fair value of the collateral, less any selling costs. Management exercises significa

Mortgage Servicing Rights

Mortgage Servicing Rights3 Months Ended
Mar. 31, 2021
Mortgage Servicing Rights
Mortgage Servicing Rights5. Mortgage Servicing Rights ​ Mortgage servicing activities include collecting principal, interest, tax, and insurance payments from borrowers while accounting for and remitting payments to investors, taxing authorities, and insurance companies. The Company also monitors delinquencies and administers foreclosure proceedings. ​ Mortgage loan servicing income is recorded in noninterest income as a part of other service charges and fees and amortization of the servicing assets is recorded in noninterest income as part of other income. The unpaid principal amount of residential real estate loans serviced for others was $2.0 billion and $2.2 billion as of March 31, 2021 and December 31, 2020, respectively. Servicing fees include contractually specified fees, late charges, and ancillary fees, and were $1.3 million and $1.5 million for the three months ended March 31, 2021 and 2020, respectively. ​ Amortization of mortgage servicing rights (“MSRs”) was $0.5 million and $2.0 million for the three months ended March 31, 2021 and 2020, respectively. The estimated future amortization expenses for MSRs over the next five years are as follows: ​ ​ ​ ​ ​ ​ ​ Estimated (dollars in thousands) Amortization Under one year ​ $ 2,013 One to two years ​ ​ 1,615 Two to three years ​ ​ 1,323 Three to four years ​ ​ 1,100 Four to five years ​ ​ 924 ​ The details of the Company’s MSRs are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (dollars in thousands) 2021 2020 Gross carrying amount ​ $ 68,540 ​ $ 67,856 Less: accumulated amortization ​ ​ 57,671 ​ ​ 57,125 Net carrying value ​ $ 10,869 ​ $ 10,731 ​ The following table presents changes in amortized MSRs for the three months ended March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (dollars in thousands) 2021 2020 Balance at beginning of period ​ $ 10,731 ​ $ 12,668 Originations ​ ​ 683 ​ ​ 1,291 Amortization ​ ​ (545) ​ ​ (1,980) Balance at end of period ​ $ 10,869 ​ $ 11,979 Fair value of amortized MSRs at beginning of period ​ $ 14,029 ​ $ 20,329 Fair value of amortized MSRs at end of period ​ $ 14,921 ​ $ 17,615 ​ MSRs are evaluated for impairment if events and circumstances indicate a possible impairment. No impairment of MSRs was recorded for the three months ended March 31, 2021 and 2020. ​ The quantitative assumptions used in determining the lower of cost or fair value of the Company’s MSRs as of March 31, 2021 and December 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ ​ Range ​ Average ​ Range ​ Average ​ Conditional prepayment rate ​ 12.79 % - 27.09 % 14.18 % 11.86 % - 26.52 % 16.90 % Life in years (of the MSR) ​ 1.86 ​ - 6.31 ​ 5.17 ​ 1.83 ​ - 6.68 ​ 4.45 ​ Weighted-average coupon rate ​ 3.41 % - 6.91 % 3.79 % 3.24 % - 6.98 % 3.84 % Discount rate ​ 10.00 % - 10.00 % 10.00 % 10.00 % - 10.00 % 10.00 % ​ The sensitivities surrounding MSRs are expected to have an immaterial impact on fair value.

Transfers of Financial Assets

Transfers of Financial Assets3 Months Ended
Mar. 31, 2021
Transfers of Financial Assets
Transfers of Financial Assets6. Transfers of Financial Assets ​ The Company’s transfers of financial assets with continuing interest may include pledges of collateral to secure public deposits and repurchase agreements, FHLB and FRB borrowing capacity, automated clearing house (“ACH”) transactions and interest rate swaps. ​ For public deposits and repurchase agreements, the Company enters into bilateral agreements with the entity to pledge investment securities as collateral in the event of default. 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. The counterparty has the right to sell or repledge the investment securities. 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 investment securities. For transfers of assets with the FHLB and the FRB, the Company enters into bilateral agreements to pledge loans as collateral to secure borrowing capacity. For ACH transactions, the Company enters into bilateral agreements to collateralize possible daylight overdrafts. For interest rate swaps, the Company enters into bilateral agreements to pledge collateral when either party is in a negative fair value position to mitigate counterparty credit risk. Counterparties to ACH transactions, certain interest rate swaps, the FHLB and the FRB do not have the right to sell or repledge the collateral. ​ The carrying amounts of the assets pledged as collateral to secure public deposits, borrowing arrangements and other transactions as of March 31, 2021 and December 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) March 31, 2021 December 31, 2020 Public deposits ​ $ 2,418,838 ​ $ 2,251,508 Federal Home Loan Bank ​ ​ 2,887,878 ​ ​ 2,917,317 Federal Reserve Bank ​ ​ 1,929,876 ​ ​ 1,919,744 ACH transactions ​ ​ 111,454 ​ ​ 111,347 Interest rate swaps ​ ​ 42,373 ​ ​ 56,004 Total ​ $ 7,390,419 ​ $ 7,255,920 ​ As the Company did not enter into reverse repurchase agreements or repurchase agreements, no collateral was accepted or pledged as of March 31, 2021 and December 31, 2020. In addition, no debt was extinguished by in-substance defeasance.

Deposits

Deposits3 Months Ended
Mar. 31, 2021
Deposits
Deposits7. Deposits ​ As of March 31, 2021 and December 31, 2020, deposits were categorized as interest-bearing or noninterest-bearing as follows: ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) March 31, 2021 December 31, 2020 U.S.: ​ ​ ​ ​ ​ ​ Interest-bearing ​ $ 11,159,564 ​ $ 10,928,712 Noninterest-bearing ​ ​ 7,329,662 ​ ​ 6,674,352 Foreign: ​ ​ ​ ​ ​ ​ Interest-bearing ​ ​ 799,042 ​ ​ 776,897 Noninterest-bearing ​ ​ 845,413 ​ ​ 847,762 Total deposits ​ $ 20,133,681 ​ $ 19,227,723 ​ The following table presents the maturity distribution of time certificates of deposit as of March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Under ​ $250,000 ​ ​ ​ (dollars in thousands) $250,000 or More Total Three months or less ​ $ 232,935 ​ $ 414,462 ​ $ 647,397 Over three through six months ​ ​ 146,206 ​ ​ 210,672 ​ ​ 356,878 Over six through twelve months ​ ​ 372,636 ​ ​ 379,245 ​ ​ 751,881 One to two years ​ ​ 128,248 ​ ​ 82,989 ​ ​ 211,237 Two to three years ​ ​ 80,286 ​ ​ 16,964 ​ ​ 97,250 Three to four years ​ ​ 40,578 ​ ​ 4,881 ​ ​ 45,459 Four to five years ​ ​ 42,510 ​ ​ 21,469 ​ ​ 63,979 Thereafter ​ ​ 510 ​ ​ 250 ​ ​ 760 Total ​ $ 1,043,909 ​ $ 1,130,932 ​ $ 2,174,841 ​ Time certificates of deposit in denominations of $250,000 or more, in the aggregate, were $1.1 billion and $1.3 billion as of March 31, 2021 and December 31, 2020, respectively. Overdrawn deposit accounts are classified as loans and totaled $1.0 million and $2.6 million as of March 31, 2021 and December 31, 2020, respectively.

Long-Term Borrowings

Long-Term Borrowings3 Months Ended
Mar. 31, 2021
Long-Term Borrowings
Long-Term Borrowings8. Long-Term Borrowings ​ Long-term borrowings consisted of the following as of March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) March 31, 2021 December 31, 2020 Finance lease ​ $ 10 ​ $ 10 FHLB fixed-rate advances (1) ​ ​ 200,000 ​ ​ 200,000 Total long-term borrowings ​ $ 200,010 ​ $ 200,010 (1) Interest is payable monthly. ​ As of March 31, 2021 and December 31, 2020, the Company’s long-term borrowings included $200.0 million in FHLB fixed-rate advances with a weighted average interest rate of 2.73% and maturity dates ranging from 2023 to 2024. The FHLB fixed-rate advances require monthly interest-only payments with the principal amount due on the maturity date. As of both March 31, 2021 and December 31, 2020, the available remaining borrowing capacity with the FHLB was $2.0 billion. The FHLB fixed-rate advances and remaining borrowing capacity were secured by residential real estate loan collateral as of March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, the Company had an undrawn line of credit of $1.2 billion and $1.1 billion from the FRB, respectively. The borrowing capacity with the FRB was secured by consumer, commercial and industrial, commercial real estate and residential real estate loans as of March 31, 2021 and December 31, 2020. See “Note 6. Transfers of Financial Assets” for more information. ​ As of March 31, 2021 and December 31, 2020, the Company’s long-term borrowings included a finance lease obligation with a 6.78% annual interest rate that matures in 2022. ​ As of March 31, 2021, future contractual principal payments and maturities of long-term borrowings were as follows: ​ ​ ​ ​ ​ ​ ​ Principal (dollars in thousands) Payments 2021 ​ $ 10 2022 ​ ​ — 2023 (1) ​ ​ 100,000 2024 (2) ​ ​ 100,000 2025 ​ ​ — Total ​ $ 200,010 (1) FHLB fixed-rate advance callable on June 3, 2021 with an interest rate of 2.80% . (2) FHLB fixed-rate advance callable on July 15, 2021 with an interest rate of 2.65% . ​ ​ ​ ​ ​ ​ ​ ​ ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss).
Accumulated Other Comprehensive Income (Loss)9. Accumulated Other Comprehensive Income (Loss) ​ Accumulated other comprehensive income (loss) is defined as the revenues, expenses, gains and losses that are included in comprehensive income but excluded from net income. The Company’s significant items of accumulated other comprehensive loss are pension and other benefits and net unrealized gains or losses on investment securities. ​ Changes in accumulated other comprehensive income (loss) for the three months ended March 31, 2021 and 2020 are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income ​ ​ ​ ​ ​ ​ ​ ​ Tax ​ ​ ​ ​ ​ Pre-tax ​ Benefit ​ Net of (dollars in thousands) Amount (Expense) Tax Accumulated other comprehensive income at December 31, 2020 ​ $ 43,098 ​ $ (11,494) ​ $ 31,604 Three months ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net losses arising during the period ​ ​ (102,336) ​ ​ 27,297 ​ ​ (75,039) Net change in investment securities ​ ​ (102,336) ​ ​ 27,297 ​ ​ (75,039) Other comprehensive loss ​ ​ (102,336) ​ ​ 27,297 ​ ​ (75,039) Accumulated other comprehensive loss at March 31, 2021 ​ $ (59,238) ​ $ 15,803 ​ $ (43,435) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income ​ ​ ​ ​ ​ ​ ​ ​ Tax ​ ​ ​ ​ ​ Pre-tax ​ Benefit ​ Net of (dollars in thousands) Amount (Expense) Tax Accumulated other comprehensive loss at December 31, 2019 ​ $ (43,450) ​ $ 11,701 ​ $ (31,749) Three months ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and other benefits: ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in Company tax rate ​ ​ — ​ ​ (96) ​ ​ (96) Net change in pension and other benefits ​ ​ — ​ ​ (96) ​ ​ (96) Investment securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net gains arising during the period ​ ​ 49,164 ​ ​ (13,128) ​ ​ 36,036 Reclassification of net gains to net income: ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities gains, net ​ ​ (85) ​ ​ 23 ​ ​ (62) Net change in investment securities ​ ​ 49,079 ​ ​ (13,105) ​ ​ 35,974 Other comprehensive income ​ ​ 49,079 ​ ​ (13,201) ​ ​ 35,878 Accumulated other comprehensive income at March 31, 2020 ​ $ 5,629 ​ $ (1,500) ​ $ 4,129 ​ The following table summarizes changes in accumulated other comprehensive income (loss), net of tax, for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pensions ​ ​ ​ Accumulated ​ ​ and ​ ​ ​ Other ​ ​ Other ​ Investment ​ Comprehensive (dollars in thousands) Benefits Securities Income (Loss) Three Months Ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ (31,737) ​ $ 63,341 ​ $ 31,604 Other comprehensive loss ​ ​ — ​ ​ (75,039) ​ ​ (75,039) Balance at end of period ​ $ (31,737) ​ $ (11,698) ​ $ (43,435) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ (28,082) ​ $ (3,667) ​ $ (31,749) Other comprehensive income ​ ​ (96) ​ ​ 35,974 ​ ​ 35,878 Balance at end of period ​ $ (28,178) ​ $ 32,307 ​ $ 4,129 ​

Regulatory Capital Requirements

Regulatory Capital Requirements3 Months Ended
Mar. 31, 2021
Regulatory Capital Requirements
Regulatory Capital Requirements​ 10. Regulatory Capital Requirements ​ Federal and state laws and regulations limit the amount of dividends the Company may declare or pay. The Company depends primarily on dividends from FHB as the source of funds for the Company’s payment of dividends. ​ The Company and the Bank are subject to various regulatory capital requirements imposed by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s operating activities and financial condition. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of its assets and certain off-balance sheet items. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. ​ ​ The table below sets forth those ratios at March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Hawaiian ​ Minimum ​ Well- ​ ​ ​ First Hawaiian, Inc. ​ Bank ​ Capital ​ Capitalized ​ (dollars in thousands) Amount Ratio ​ Amount Ratio ​ Ratio (1) Ratio (1) ​ March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common equity tier 1 capital to risk-weighted assets ​ $ 1,731,573 ​ 12.82 % $ 1,717,126 ​ 12.71 % 4.50 % 6.50 % Tier 1 capital to risk-weighted assets ​ ​ 1,731,573 ​ 12.82 % ​ 1,717,126 ​ 12.71 % 6.00 % 8.00 % Total capital to risk-weighted assets ​ ​ 1,901,254 ​ 14.07 % ​ 1,886,793 ​ 13.97 % 8.00 % 10.00 % Tier 1 capital to average assets (leverage ratio) ​ ​ 1,731,573 ​ 7.90 % ​ 1,717,126 ​ 7.83 % 4.00 % 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common equity tier 1 capital to risk-weighted assets ​ $ 1,717,008 ​ 12.47 % $ 1,699,485 ​ 12.34 % 4.50 % 6.50 % Tier 1 capital to risk-weighted assets ​ ​ 1,717,008 ​ 12.47 % ​ 1,699,485 ​ 12.34 % 6.00 % 8.00 % Total capital to risk-weighted assets ​ ​ 1,889,958 ​ 13.73 % ​ 1,872,427 ​ 13.60 % 8.00 % 10.00 % Tier 1 capital to average assets (leverage ratio) ​ ​ 1,717,008 ​ 8.00 % ​ 1,699,485 ​ 7.92 % 4.00 % 5.00 % (1) As defined by the regulations issued by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation (“FDIC”). ​ Federal regulations require a 2.5% capital conservation buffer designed to absorb losses during periods of economic stress. The capital conservation buffer is composed entirely of CET1, on top of these minimum risk weighted asset ratios, effectively resulting in minimum ratios of (i) 7% CET1 to risk-weighted assets, (ii) 8.5% Tier 1 capital to risk-weighted assets, and (iii) 10.5% total capital to risk-weighted assets. As of March 31, 2021, under the bank regulatory capital guidelines, the Company and Bank were both classified as well-capitalized. Management is not aware of any conditions or events that have occurred since March 31, 2021, to change the capital adequacy category of the Company or the Bank.

Derivative Financial Instrument

Derivative Financial Instruments3 Months Ended
Mar. 31, 2021
Derivative Financial Instruments
Derivative Financial Instruments11. Derivative Financial Instruments ​ The Company enters into derivative contracts primarily to manage its interest rate risk, as well as for customer accommodation purposes. Derivatives used for risk management purposes consist of interest rate swaps that are designated as either a fair value hedge or a cash flow hedge. The derivatives are recognized on the unaudited interim consolidated balance sheets as either assets or liabilities at fair value. Derivatives entered into for customer accommodation purposes consist of various free-standing interest rate derivative products and foreign exchange contracts. 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 following table summarizes notional amounts and fair values of derivatives held by the Company as of March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ Fair Value ​ ​ Notional ​ Asset ​ Liability ​ Notional ​ Asset ​ Liability (dollars in thousands) Amount Derivatives (1) Derivatives (2) Amount Derivatives (1) Derivatives (2) Derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 22,451 ​ $ — ​ $ (1,084) ​ $ 22,451 ​ $ — ​ $ (1,276) Derivatives not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ ​ 3,000,461 ​ ​ 80,126 ​ ​ — ​ ​ 3,002,333 ​ ​ 129,888 ​ ​ — Funding swap ​ ​ 95,799 ​ ​ — ​ ​ (3,382) ​ ​ 92,647 ​ ​ — ​ ​ (4,554) Interest rate caps and floors ​ ​ 148,800 ​ ​ 56 ​ ​ (56) ​ ​ 148,800 ​ ​ 7 ​ ​ (7) Foreign exchange contracts ​ ​ — ​ ​ — ​ ​ — ​ ​ 326 ​ ​ — ​ ​ — (1) The positive fair values of derivative assets are included in other assets. (2) The negative fair values of derivative liabilities are included in other liabilities. ​ Certain interest rate swaps noted above, are cleared through clearinghouses, rather than directly with counterparties. Those transactions cleared through a clearinghouse require initial margin collateral and variation margin payments depending on the contracts being in a net asset or liability position. As of March 31, 2021, the amount of initial margin cash collateral received by the Company was $1.4 million. As of December 31, 2020, the amount of initial margin cash collateral posted by the Company was $4.8 million. As of March 31, 2021 and December 31, 2020, the variation margin was $80.1 million and $129.9 million, respectively. ​ As of March 31, 2021, the Company pledged $30.7 million in financial instruments and $11.7 million in cash as collateral for interest rate swaps. As of December 31, 2020, the Company pledged $30.8 million in financial instruments and $25.2 million in cash as collateral for interest rate swaps. As of March 31, 2021 and December 31, 2020, the cash collateral includes the excess initial margin for interest rate swaps cleared through clearinghouses and cash collateral for interest rate swaps with financial institution counterparties. ​ Fair Value Hedges ​ To manage the risk related to the Company’s net interest margin, interest rate swaps are utilized to hedge certain fixed-rate loans. These swaps have maturity, amortization and prepayment features that correspond to the loans hedged, and are designated and qualify as fair value hedges. Any gain or loss on the swaps, as well as the offsetting loss or gain on the hedged item attributable to the hedged risk, is recognized in current period earnings. ​ As of both March 31, 2021 and December 31, 2020, the Company carried one interest rate swap with a notional amount of $22.5 million. As of March 31, 2021 and December 31, 2020, the interest rate swap was categorized as a fair value hedge for a commercial and industrial loan with a negative fair value of $1.1 million and $1.3 million, respectively. The Company received a USD Prime floating rate and paid a fixed rate of 2.90% . The swap matures in 2023. ​ The following table shows the gains and losses recognized in income related to derivatives in fair value hedging relationships for the three months ended March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains (losses) recognized in ​ Three Months Ended ​ ​ the consolidated statements ​ March 31, (dollars in of income line item 2021 2020 Gains (losses) on fair value hedging relationships recognized in interest income (1) : ​ ​ ​ ​ ​ ​ ​ ​ Recognized on interest rate swap ​ Loans and lease financing ​ $ 193 ​ $ (955) Recognized on hedged item ​ Loans and lease financing ​ ​ (249) ​ ​ 906 ​ ​ As of March 31, 2021 and December 31, 2020, the following amounts were recorded in the unaudited interim consolidated balance sheets related to the cumulative basis adjustments for fair value hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Amount of Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedging Adjustment Included in the ​ ​ Carrying Amount of the Hedged Asset ​ Carrying Amount of the Hedged Asset (dollars in March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Line item in the consolidated balance sheets in which the hedged item is included ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans and leases ​ $ 23,920 ​ $ 24,355 ​ $ 1,239 ​ $ 1,487 ​ Free-Standing Derivative Instruments ​ For the derivatives that are not designated as hedges, changes in fair value are reported in current period earnings. The following table summarizes the impact on pretax earnings of derivatives not designated as hedges, as reported on the unaudited interim consolidated statements of income for the three months ended March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gains (losses) recognized ​ Three Months Ended ​ ​ in the consolidated statements ​ March 31, (dollars in of income line item ​ 2021 2020 Derivatives Not Designated As Hedging Instruments: ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ Other noninterest income ​ $ — ​ $ — Funding swap ​ Other noninterest income ​ ​ 26 ​ ​ 6 Foreign exchange contracts ​ Other noninterest income ​ ​ — ​ ​ (52) ​ As of March 31, 2021, the Company carried multiple interest rate swaps with notional amounts totaling $3.0 billion, all of which were related to the Company’s customer swap program, with a positive fair value of $80.1 million and a negative fair value of nil. The Company received floating rates ranging from 0.11% to 3.82% and paid fixed rates ranging from 2.02% to 5.78%. The swaps mature between June 2021 and June 2040. As of December 31, 2020, the Company carried multiple interest rate swaps with notional amounts totaling $3.0 billion, all of which were related to the Company’s customer swap program, with a positive fair value of $129.9 million and a negative fair value of nil. The Company received floating rates ranging from 0.15% to 3.16% and paid fixed rates ranging from 2.02% to 5.78%. These swaps resulted in net interest expense of nil during both the three months ended March 31, 2021 and 2020. ​ The Company’s customer swap program is designed by offering customers a variable-rate loan that is swapped to fixed-rate through an interest rate swap. The Company simultaneously executes an offsetting interest rate swap with a swap dealer. Upfront fees on the dealer swap are recorded in other noninterest income and totaled $0.5 million and $1.9 million for the three months ended March 31, 2021 and 2020, respectively. ​ In conjunction with the 2016 sale of Class B restricted shares of common stock issued by Visa, the Company entered into a funding swap agreement with the buyer that requires payment to the buyer in the event Visa reduces each member bank’s Class B conversion rate to unrestricted Class A common shares. On June 28, 2018, Visa additionally funded its litigation escrow account, thereby reducing each member bank’s Class B conversion rate to unrestricted Class A common shares. Accordingly, on July 5, 2018, Visa announced a decrease in conversion rate from 1.6483 to 1.6298 effective June 28, 2018. In July 2018, the Company made a payment of approximately $0.7 million to the buyer as a result of the reduction in the Visa Class B conversion rate. On September 27, 2019, Visa additionally funded its litigation escrow account, thereby further reducing each member bank’s Class B conversion rate to unrestricted Class A common shares. Accordingly, on September 30, 2019, Visa announced a decrease in conversion rate from 1.6298 to 1.6228 effective September 27, 2019. In October 2019, the Company made a payment of approximately $0.3 million to the buyer as a result of the reduction in the Visa Class B conversion rate. Under the terms of the funding swap agreement, the Company will make monthly payments to the buyer based on Visa’s Class A stock price and the number of Visa Class B restricted shares that were sold until the date on which the covered litigation is settled. A derivative liability (“Visa derivative”) of $3.4 million and $4.6 million was included in the unaudited interim consolidated balance sheets at March 31, 2021 and December 31, 2020, respectively, to provide for the fair value of this liability. There were no sales of these shares prior to 2016. See “Note 16. Fair Value” for more information. ​ Counterparty Credit Risk ​ By using derivatives, the Company is exposed to counterparty credit risk if counterparties to the derivative contracts do not perform as expected. If a counterparty fails to perform, the Company’s counterparty credit risk is equal to the amount reported as a derivative asset, net of cash or other collateral received, and net of derivatives in a loss position with the same counterparty to the extent master netting arrangements exist. The Company minimizes counterparty credit risk through credit approvals, limits, monitoring procedures, executing master netting arrangements and obtaining collateral, where appropriate. Counterparty credit risk related to derivatives is considered in determining fair value. ​ The Company’s interest rate swap agreements include bilateral collateral agreements with collateral requirements, which begin with exposures in excess of $0.3 million. For each counterparty, the Company reviews the interest rate swap collateral daily. Collateral for customer interest rate swap agreements, calculated as the pledged asset less loan balance, requires valuation of the pledged asset. Counterparty credit risk adjustments of $0.1 million were recognized during both the three months ended March 31, 2021 and 2020. ​ Credit-Risk Related Contingent Features ​ Certain of our derivative contracts contain provisions whereby if the Company’s credit rating were to be downgraded by certain major credit rating agencies as a result of a merger or material adverse change in the Company’s financial condition, the counterparty could require an early termination of derivative instruments in a net liability position. The aggregate fair value of all derivative instruments with such credit-risk related contingent features that are in a net liability position was $14.1 million and $19.8 million at March 31, 2021 and December 31, 2020, respectively, for which we posted $14.1 million and $20.4 million, respectively, in collateral in the normal course of business. If the Company’s credit rating had been downgraded as of March 31, 2021 and December 31, 2020, we may have been required to settle the contracts in an amount equal to their fair value.

Commitments and Contingent Liab

Commitments and Contingent Liabilities3 Months Ended
Mar. 31, 2021
Commitments and Contingent Liabilities
Commitments and Contingent Liabilities12. Commitments and Contingent Liabilities ​ Contingencies ​ On November 2, 2020, a lawsuit was filed in Hawaii Circuit Court by a Bank customer related to the sale of credit facilities that the Bank had previously extended to the customer. The customer asserts claims against the Bank for interference with the customer’s contract and business opportunity, unfair methods of competition and declaratory and injunctive relief. The outcome of this legal proceeding is uncertain at this point. Based on information available to the Company at present, the Company cannot reasonably estimate a range of potential loss, if any, for this action. Accordingly, the Company has not recognized any liability associated with this action. Management disputes any wrongdoing and the case is being vigorously defended. ​ In addition to the litigation noted above, various legal proceedings are pending or threatened against the Company. After consultation with legal counsel, management does not expect that the aggregate liability, if any, resulting from these proceedings would have a material effect on the Company’s unaudited interim consolidated financial position, results of operations or cash flows. ​ Financial Instruments with Off-Balance Sheet Risk ​ The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby and commercial letters of credit which are not reflected in the unaudited interim consolidated financial statements. ​ Unfunded Commitments to Extend Credit ​ A commitment to extend credit is a legally binding agreement to lend funds to a customer, usually at a stated interest rate and for a specified purpose. Commitments are reported net of participations sold to other institutions. Such commitments have fixed expiration dates and generally require a fee. The extension of a commitment gives rise to credit risk. The actual liquidity requirements or credit risk that the Company will experience is expected to be lower than the contractual amount of commitments to extend credit because a significant portion of those commitments are expected to expire without being drawn upon. Certain commitments are subject to loan agreements containing covenants regarding the financial performance of the customer that must be met before the Company is required to fund the commitment. The Company uses the same credit policies in making commitments to extend credit as it does in making loans. In addition, the Company manages the potential credit risk in commitments to extend credit by limiting the total amount of arrangements, both by individual customer and in the aggregate, by monitoring the size and expiration structure of these portfolios and by applying the same credit standards maintained for all of its related credit activities. Commitments to extend credit are reported net of participations sold to other institutions of $81.2 million and $93.1 million at March 31, 2021 and December 31, 2020, respectively. ​ Standby and Commercial Letters of Credit ​ Standby letters of credit are issued on behalf of customers in connection with contracts between the customers and third parties. Under standby letters of credit, the Company assures that the third parties will receive specified funds if customers fail to meet their contractual obligations. The credit risk to the Company arises from its obligation to make payment in the event of a customer’s contractual default. Standby letters of credit are reported net of participations sold to other institutions of $10.8 million and $11.0 million at March 31, 2021 and December 31, 2020, respectively. The Company also had commitments for commercial and similar letters of credit. Commercial letters of credit are issued specifically to facilitate commerce whereby the commitment is typically drawn upon when the underlying transaction between the customer and a third-party is consummated. The maximum amount of potential future payments guaranteed by the Company is limited to the contractual amount of these letters. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Collateral held supports those commitments for which collateral is deemed necessary. The commitments outstanding as of March 31, 2021 have maturities ranging from April 2021 to June 2022. Substantially all fees received from the issuance of such commitments are deferred and amortized on a straight-line basis over the term of the commitment. ​ Financial instruments with off-balance sheet risk at March 31, 2021 and December 31, 2020 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (dollars in 2021 2020 Financial instruments whose contract amounts represent credit risk: ​ ​ ​ ​ ​ ​ Commitments to extend credit ​ $ 6,067,465 ​ $ 5,934,535 Standby letters of credit ​ ​ 180,909 ​ ​ 185,108 Commercial letters of credit ​ ​ 5,014 ​ ​ 3,834 ​ Guarantees ​ The Company sells residential mortgage loans in the secondary market primarily to the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation that may potentially require repurchase under certain conditions. This risk is managed through the Company’s underwriting practices. The Company services loans sold to investors and loans originated by other originators under agreements that may include repurchase remedies if certain servicing requirements are not met. This risk is managed through the Company’s quality assurance and monitoring procedures. Management does not anticipate any material losses as a result of these transactions. ​ Foreign Exchange Contracts ​ The Company has forward foreign exchange contracts that represent commitments to purchase or sell foreign currencies at a future date at a specified price. The Company’s utilization of forward foreign exchange contracts is subject to the primary underlying risk of movements in foreign currency exchange rates and to additional counterparty risk should its counterparties fail to meet the terms of their contracts. Forward foreign exchange contracts are utilized to mitigate the Company’s risk to satisfy customer demand for foreign currencies and are not used for trading purposes. See “Note 11. Derivative Financial Instruments” for more information. ​ Reorganization Transactions ​ On April 1, 2016, a series of reorganization transactions were undertaken to facilitate FHI’s initial public offering. In connection with the reorganization transactions, FHI distributed its interest in BancWest Holding Inc. (“BWHI”), including Bank of the West (“BOW”) to BNP Paribas (“BNPP”) so that BWHI was held directly by BNPP. As a result of the reorganization transactions that occurred on April 1, 2016, various tax or other contingent liabilities could arise related to the business of BOW, or related to the Company’s operations prior to the restructuring when it was known as BancWest Corporation, including its then wholly owned subsidiary, BOW. The Company is not able to determine the ultimate outcome or estimate the amounts of these contingent liabilities, if any, at this time.

Revenue from Contracts with Cus

Revenue from Contracts with Customers3 Months Ended
Mar. 31, 2021
Revenue from Contracts with Customers
Revenue from Contracts with Customers13. Revenue from Contracts with Customers ​ Revenue Recognition ​ In accordance with Topic 606, revenues are recognized when control of promised goods or services is transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of Topic 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of Topic 606, the Company assesses the goods or services that are promised within each contract and identifies those that contain performance obligations, and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. ​ Disaggregation of Revenue ​ The following table summarizes the Company’s revenues, which includes net interest income on financial instruments and noninterest income, disaggregated by type of service and business segments for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ Treasury ​ ​ ​ ​ ​ Retail ​ Commercial ​ and ​ ​ ​ (dollars in thousands) Banking Banking Other Total Net interest income (1) ​ $ 100,888 ​ $ 31,832 ​ $ (3,562) ​ $ 129,158 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service charges on deposit accounts ​ ​ 6,086 ​ ​ 223 ​ ​ 409 ​ ​ 6,718 Credit and debit card fees ​ ​ — ​ ​ 12,525 ​ ​ 1,428 ​ ​ 13,953 Other service charges and fees ​ ​ 5,564 ​ ​ 475 ​ ​ 352 ​ ​ 6,391 Trust and investment services income ​ ​ 8,492 ​ ​ — ​ ​ — ​ ​ 8,492 Other ​ ​ 79 ​ ​ 1,496 ​ ​ 336 ​ ​ 1,911 Not in scope of Topic 606 (1) ​ ​ 3,354 ​ ​ 1,322 ​ ​ 1,727 ​ ​ 6,403 Total noninterest income ​ ​ 23,575 ​ ​ 16,041 ​ ​ 4,252 ​ ​ 43,868 Total revenue ​ $ 124,463 ​ $ 47,873 ​ $ 690 ​ $ 173,026 (1) Most of the Company’s revenue is not within the scope of ASU No. 2014-09, Revenue from Contracts with Customers . The guidance explicitly excludes net interest income from financial assets and liabilities as well as other noninterest income from loans, leases, investment securities and derivative financial instruments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ Treasury ​ ​ ​ ​ ​ Retail ​ Commercial ​ and ​ ​ ​ (dollars in thousands) Banking Banking Other Total Net interest income (1) ​ $ 89,883 ​ $ 34,414 ​ $ 14,386 ​ $ 138,683 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service charges on deposit accounts ​ ​ 8,088 ​ ​ 351 ​ ​ 511 ​ ​ 8,950 Credit and debit card fees ​ ​ — ​ ​ 12,887 ​ ​ 1,599 ​ ​ 14,486 Other service charges and fees ​ ​ 4,875 ​ ​ 424 ​ ​ 516 ​ ​ 5,815 Trust and investment services income ​ ​ 9,591 ​ ​ — ​ ​ — ​ ​ 9,591 Other ​ ​ 185 ​ ​ 1,106 ​ ​ 188 ​ ​ 1,479 Not in scope of Topic 606 (1) ​ ​ 3,637 ​ ​ 3,028 ​ ​ 2,242 ​ ​ 8,907 Total noninterest income ​ ​ 26,376 ​ ​ 17,796 ​ ​ 5,056 ​ ​ 49,228 Total revenue ​ $ 116,259 ​ $ 52,210 ​ $ 19,442 ​ $ 187,911 (1) Most of the Company’s revenue is not within the scope of ASU No. 2014-09, Revenue from Contracts with Customers. The guidance explicitly excludes net interest income from financial assets and liabilities as well as other noninterest income from loans, leases, investment securities and derivative financial instruments. ​ For the three months ended March 31, 2021 and 2020, substantially all of the Company’s revenues under the scope of Topic 606 were related to performance obligations satisfied at a point in time. ​ The following is a discussion of revenues within the scope of Topic 606. ​ Service Charges on Deposit Accounts Service charges on deposit accounts relate to fees generated from a variety of deposit products and services rendered to customers. Charges include, but are not limited to, overdraft fees, non-sufficient fund fees, dormant fees and monthly service charges. Such fees are recognized concurrent with the event on a daily basis or on a monthly basis depending upon the customer’s cycle date. ​ Credit and Debit Card Fees Credit and debit card fees primarily represent revenues earned from interchange fees, ATM fees and merchant processing fees. Interchange and network revenues are earned on credit and debit card transactions conducted with payment networks. ATM fees are primarily earned as a result of surcharges assessed to non-FHB customers who use an FHB ATM. Merchant processing fees are primarily earned on transactions in which FHB is the acquiring bank. Such fees are generally recognized concurrently with the delivery of services on a daily basis. ​ Trust and Investment Services Fees Trust and investment services fees represent revenue earned by directing, holding and managing customers’ assets. Fees are generally computed based on a percentage of the previous period’s value of assets under management. The transaction price (i.e., percentage of assets under management) is established at the inception of each contract. Trust and investment services fees also include fees collected when the Company acts as agent or personal representative and executes security transactions, performs collection and disbursement of income, and completes investment management and other administrative tasks. ​ Other Fees Other fees primarily include revenues generated from wire transfers, lockboxes, bank issuance of checks and insurance commissions. Such fees are recognized concurrent with the event or on a monthly basis. ​ Contract Balances ​ A contract liability is an entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer. In prior years, the Company received signing bonuses from two vendors which are being amortized over the term of the respective contracts. As of March 31, 2021 and December 31, 2020, the Company had contract liabilities of $0.8 million and $1.0 million, respectively, which it expects to recognize over the remaining term of the respective contracts with the vendors. For both the three months ended March 31, 2021 and 2020, the Company’s recognized revenues increased and contract liabilities decreased by approximately $0.2 million, due to the passage of time. There were no changes in contract liabilities due to changes in transaction price estimates. ​ A contract asset is the right to consideration for transferred goods or services when the amount is conditioned on something other than the passage of time. As of March 31, 2021 and December 31, 2020, there were no material receivables from contracts with customers or contract assets recorded on the Company’s consolidated balance sheets. ​ Other ​ Except for the contract liabilities noted above, the Company did not have any significant performance obligations as of March 31, 2021 and December 31, 2020. The Company also did not have any material contract acquisition costs or use any significant judgments or estimates in recognizing revenue for financial reporting purposes.

Earnings per Share

Earnings per Share3 Months Ended
Mar. 31, 2021
Earnings per Share
Earnings per Share14. Earnings per Share ​ For the three months ended March 31, 2021 and 2020, the Company made no adjustments to net income for the purpose of computing earnings per share and there were 27,000 and nil antidilutive securities, respectively. For the three months ended March 31, 2021 and 2020, the computations of basic and diluted earnings per share were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (dollars in 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 57,693 ​ $ 38,865 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Basic: weighted-average shares outstanding ​ ​ 129,933,104 ​ ​ 129,895,706 Add: weighted-average equity-based awards ​ ​ 656,774 ​ ​ 455,879 Diluted: weighted-average shares outstanding ​ ​ 130,589,878 ​ ​ 130,351,585 ​ ​ ​ ​ ​ ​ ​ Basic earnings per share ​ $ 0.44 ​ $ 0.30 Diluted earnings per share ​ $ 0.44 ​ $ 0.30 ​

Noninterest Income and Noninter

Noninterest Income and Noninterest Expense3 Months Ended
Mar. 31, 2021
Noninterest Income and Noninterest Expense
Noninterest Income and Noninterest Expense15. Noninterest Income and Noninterest Expense ​ Benefit Plans ​ The following table sets forth the components of net periodic benefit cost for the Company’s pension and postretirement benefit plans for the three months ended March 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income line item where recognized in ​ Pension Benefits ​ Other Benefits (dollars in ​ the consolidated statements of income 2021 2020 2021 2020 Three Months Ended March 31, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ Salaries and employee benefits ​ $ — ​ $ — ​ $ 264 ​ $ 189 Interest cost ​ Other noninterest expense ​ ​ 1,231 ​ ​ 1,621 ​ ​ 131 ​ ​ 164 Expected return on plan assets ​ Other noninterest expense ​ ​ (766) ​ ​ (1,194) ​ ​ — ​ ​ — Prior service credit ​ Other noninterest expense ​ ​ — ​ ​ — ​ ​ — ​ ​ (13) Recognized net actuarial loss (gain) ​ Other noninterest expense ​ ​ 1,720 ​ ​ 1,429 ​ ​ — ​ ​ (26) Total net periodic benefit cost ​ ​ ​ $ 2,185 ​ $ 1,856 ​ $ 395 ​ $ 314 ​ Leases ​ The Company recognized operating lease income related to lease payments of $1.7 million and $1.5 million for the three months ended March 31, 2021 and 2020, respectively. In addition, the Company recognized $1.5 million of lease income related to variable lease payments for both the three months ended March 31, 2021 and 2020.

Fair Value

Fair Value3 Months Ended
Mar. 31, 2021
Fair Value
Fair Value16. Fair Value ​ The Company determines the fair values of its financial instruments based on the requirements established in Accounting Standards Codification Topic 820 (“Topic 820”), Fair Value Measurements ​ Fair Value Hierarchy ​ Topic 820 establishes three levels of fair values based on the markets in which the assets or liabilities are traded and the reliability of the assumptions used to determine fair value. The levels are: ​ ◾ Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. ◾ Level 2: Observable inputs other than Level 1 prices, such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ◾ Level 3: Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset or liability (“Company-level data”). Level 3 assets and liabilities include financial instruments whose value is determined using unobservable inputs to pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. ​ Topic 820 requires that the Company disclose estimated fair values for certain financial instruments. Financial instruments include such items as investment securities, loans, deposits, interest rate and foreign exchange contracts, swaps and other instruments as defined by the standard. The Company has an organized and established process for determining and reviewing the fair value of financial instruments reported in the Company’s financial statements. The fair value measurements are reviewed to ensure they are reasonable and in line with market experience in similar asset and liability classes. ​ Additionally, the Company may be required to record at fair value other assets on a nonrecurring basis, such as other real estate owned, other customer relationships, and other intangible assets. These nonrecurring fair value adjustments typically involve the application of lower-of-cost-or-fair-value accounting or write-downs of individual assets. ​ Disclosure of fair values is not required for certain items such as lease financing, obligations for pension and other postretirement benefits, premises and equipment, prepaid expenses, deposit liabilities with no defined or contractual maturity, and income tax assets and liabilities. ​ Reasonable comparisons of fair value information with that of other financial institutions cannot necessarily be made because the standard permits many alternative calculation techniques, and numerous assumptions have been used to estimate the Company’s fair values. ​ Valuation Techniques Used in the Fair Value Measurement of Assets and Liabilities Carried at Fair Value ​ For the assets and liabilities measured at fair value on a recurring basis (categorized in the valuation hierarchy table below), the Company applies the following valuation techniques: ​ Available-for-sale securities Available-for-sale debt securities are recorded at fair value on a recurring basis. Fair value measurement is based on quoted prices, including estimates by third-party pricing services, if available. If quoted prices are not available, fair values are measured using proprietary valuation models that utilize market observable parameters from active market makers and inter-dealer brokers whereby securities are valued based upon available market data for securities with similar characteristics. Management reviews the pricing information received from the Company’s third-party pricing service to evaluate the inputs and valuation methodologies used to place securities into the appropriate level of the fair value hierarchy and transfers of securities within the fair value hierarchy are made if necessary. On a monthly basis, management reviews the pricing information received from the third-party pricing service which includes a comparison to non-binding third-party broker quotes, as well as a review of market-related conditions impacting the information provided by the third-party pricing service. Management also identifies investment securities which may have traded in illiquid or inactive markets by identifying instances of a significant decrease in the volume or frequency of trades, relative to historical levels, as well as instances of a significant widening of the bid-ask spread in the brokered markets. As of March 31, 2021 and December 31, 2020, management did not make adjustments to prices provided by the third-party pricing services as a result of illiquid or inactive markets. The Company’s third-party pricing service has also established processes for the Company to submit inquiries regarding quoted prices. Periodically, the Company will challenge the quoted prices provided by the 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 the Company. The Company’s third-party pricing service may then affirm the original quoted price or may update the evaluation on a going forward basis. The Company classifies all available-for-sale securities as Level 2. ​ Derivatives Most of the Company’s derivatives are traded in over-the-counter markets where quoted market prices are not readily available. For those derivatives, the Company measures fair value on a recurring basis using proprietary valuation models that primarily use market observable inputs, such as yield curves, and option volatilities. The fair value of derivatives includes values associated with counterparty credit risk and the Company’s own credit standing. The Company classifies these derivatives, included in other assets and other liabilities, as Level 2. ​ Concurrent with the sale of the Visa Class B restricted shares, the Company entered into an agreement with the buyer that requires payment to the buyer in the event Visa reduces each member bank’s Class B conversion rate to unrestricted Class A common shares. On July 5, 2018, Visa announced a decrease in conversion rate from 1.6483 to 1.6298 effective June 28, 2018. On September 27, 2019, Visa additionally funded its litigation escrow account, thereby further reducing each member bank’s Class B conversion rate to unrestricted Class A common shares. Accordingly, on September 30, 2019, Visa announced a decrease in conversion rate from 1.6298 to 1.6228 effective September 27, 2019. The Visa derivative of $3.4 million and $4.6 million was included in the unaudited interim consolidated balance sheets at March 31, 2021 and December 31, 2020, respectively, to provide for the fair value of this liability. The potential liability related to this funding swap agreement was determined based on management’s estimate of the timing and the amount of Visa’s litigation settlement and the resulting payments due to the counterparty under the terms of the contract. As such, the funding swap agreement is classified as Level 3 in the fair value hierarchy. The significant unobservable inputs used in the fair value measurement of the Company’s funding swap agreement are the potential future changes in the conversion rate, expected term and growth rate of the market price of Visa Class A common shares. Material increases (or decreases) in any of those inputs may result in a significantly higher (or lower) fair value measurement. ​ Assets and Liabilities Recorded at Fair Value on a Recurring Basis ​ Assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 are summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements as of March 31, 2021 ​ ​ Quoted Prices in ​ Significant ​ ​ ​ ​ ​ ​ Active Markets for ​ Other ​ Significant ​ ​ ​ ​ Identical Assets ​ Observable ​ Unobservable ​ ​ (dollars in (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and government agency debt securities ​ $ — ​ $ 175,724 ​ $ — ​ $ 175,724 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government agency (1) ​ ​ — ​ ​ 133,894 ​ ​ — ​ ​ 133,894 Residential - Government-sponsored enterprises (1) ​ ​ — ​ ​ 800,920 ​ ​ — ​ ​ 800,920 Commercial - Government agency ​ ​ — ​ ​ 527,516 ​ ​ — ​ ​ 527,516 Commercial - Government-sponsored enterprises ​ ​ — ​ ​ 1,134,175 ​ ​ — ​ ​ 1,134,175 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ — ​ ​ 1,845,098 ​ ​ — ​ ​ 1,845,098 Government-sponsored enterprises ​ ​ — ​ ​ 2,075,152 ​ ​ — ​ ​ 2,075,152 Total available-for-sale securities ​ ​ — ​ ​ 6,692,479 ​ ​ — ​ ​ 6,692,479 Other assets (2) ​ ​ 12,730 ​ ​ 80,182 ​ ​ — ​ ​ 92,912 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities (3) ​ ​ — ​ ​ (1,140) ​ ​ (3,382) ​ ​ (4,522) Total ​ $ 12,730 ​ $ 6,771,521 ​ $ (3,382) ​ $ 6,780,869 (1) Backed by residential real estate. (2) Other assets classified as Level 1 include mutual funds and money market funds that have quoted prices in active markets and are related to the Company’s deferred compensation plans. Other assets classified as Level 2 include derivative assets. (3) Other liabilities include derivative liabilities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements as of December 31, 2020 ​ ​ Quoted Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Other ​ Significant ​ ​ ​ ​ Identical Assets ​ Observable ​ Unobservable ​ ​ (dollars in thousands) (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and government agency debt securities ​ $ — ​ $ 171,421 ​ $ — ​ $ 171,421 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government agency (1) ​ ​ — ​ ​ 160,462 ​ ​ — ​ ​ 160,462 Residential - Government-sponsored enterprises (1) ​ ​ — ​ ​ 447,200 ​ ​ — ​ ​ 447,200 Commercial - Government agency ​ ​ — ​ ​ 599,650 ​ ​ — ​ ​ 599,650 Commercial - Government-sponsored enterprises ​ ​ — ​ ​ 932,157 ​ ​ — ​ ​ 932,157 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ — ​ ​ 1,933,553 ​ ​ — ​ ​ 1,933,553 Government-sponsored enterprises ​ ​ — ​ ​ 1,826,972 ​ ​ — ​ ​ 1,826,972 Total available-for-sale securities ​ ​ — ​ ​ 6,071,415 ​ ​ — ​ ​ 6,071,415 Other assets (2) ​ ​ 11,691 ​ ​ 129,895 ​ ​ — ​ ​ 141,586 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities (3) ​ ​ — ​ ​ (1,283) ​ ​ (4,554) ​ ​ (5,837) Total ​ $ 11,691 ​ $ 6,200,027 ​ $ (4,554) ​ $ 6,207,164 (1) Backed by residential real estate. (2) Other assets classified as Level 1 include mutual funds and money market funds that have quoted prices in active markets and are related to the Company’s deferred compensation plans. Other assets classified as Level 2 include derivative assets. (3) Other liabilities include derivative liabilities. ​ Changes in Fair Value Levels For the three months ended March 31, 2021 and 2020, there were no transfers between fair value hierarchy levels. ​ The changes in Level 3 liabilities measured at fair value on a recurring basis for the three months ended March 31, 2021 and 2020 are summarized below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Visa Derivative (dollars in ​ 2021 2020 Three Months Ended March 31, ​ ​ ​ ​ ​ ​ Balance as of January 1, ​ $ (4,554) ​ $ (4,233) Total net gains included in other noninterest income ​ ​ 26 ​ ​ 6 Settlements ​ ​ 1,146 ​ ​ 1,028 Balance as of March 31, ​ $ (3,382) ​ $ (3,199) Total net gains included in net income attributable to the change in unrealized gains or losses related to liabilities still held as of March 31, ​ $ 26 ​ $ 6 ​ Assets and Liabilities Carried at Other Than Fair Value ​ The following tables summarize for the periods indicated the estimated fair value of the Company’s financial instruments that are not required to be carried at fair value on a recurring basis, excluding leases and deposit liabilities with no defined or contractual maturity. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ ​ ​ ​ Quoted Prices in ​ Significant ​ Significant ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Unobservable ​ ​ ​ ​ ​ ​ ​ for Identical ​ Observable ​ Inputs ​ ​ (dollars in thousands) Book Value Assets (Level 1) Inputs (Level 2) (Level 3) Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,262,810 ​ $ 278,994 ​ $ 983,816 ​ $ — ​ $ 1,262,810 Loans held for sale ​ ​ 9,390 ​ ​ — ​ ​ 9,893 ​ ​ — ​ ​ 9,893 Loans (1) ​ ​ 13,062,141 ​ ​ — ​ ​ — ​ ​ 13,186,769 ​ ​ 13,186,769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits (2) ​ $ 2,174,841 ​ $ — ​ $ 2,179,865 ​ $ — ​ $ 2,179,865 Long-term borrowings (3) ​ ​ 200,000 ​ ​ — ​ ​ 211,903 ​ ​ — ​ ​ 211,903 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ ​ ​ ​ Quoted Prices in ​ Significant ​ Significant ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Unobservable ​ ​ ​ ​ ​ ​ ​ for Identical ​ Observable ​ Inputs ​ ​ (dollars in thousands) Book Value Assets (Level 1) Inputs (Level 2) (Level 3) Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,040,944 ​ $ 303,373 ​ $ 737,571 ​ $ — ​ $ 1,040,944 Loans held for sale ​ ​ 11,579 ​ ​ — ​ ​ 12,018 ​ ​ — ​ ​ 12,018 Loans (1) ​ ​ 13,033,686 ​ ​ — ​ ​ — ​ ​ 13,255,636 ​ ​ 13,255,636 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits (2) ​ $ 2,348,298 ​ $ — ​ $ 2,357,137 ​ $ — ​ $ 2,357,137 Long-term borrowings (3) ​ ​ 200,000 ​ ​ — ​ ​ 214,167 ​ ​ — ​ ​ 214,167 (1) Excludes financing leases of $238.1 million at March 31, 2021 and $245.4 million at December 31, 2020. (2) Excludes deposit liabilities with no defined or contractual maturity of $18.0 billion as of March 31, 2021 and $16.9 billion as of December 31, 2020. (3) Excludes capital lease obligations of $10 thousand as of both March 31, 2021 and December 31, 2020. ​ Unfunded loan and lease commitments and letters of credit are not included in the tables above. As of March 31, 2021 and December 31, 2020, the Company had $6.3 billion and $6.1 billion, respectively, of unfunded loan and lease commitments and letters of credit. The Company believes that a reasonable estimate of the fair value of these instruments is the carrying value of deferred fees plus the related reserve for unfunded commitments, which totaled $45.5 million and $42.3 million at March 31, 2021 and December 31, 2020, respectively. No active trading market exists for these instruments, and the estimated fair value does not include value associated with the borrower relationship. The Company does not estimate the fair values of certain unfunded loan and lease commitments that can be canceled by providing notice to the borrower. As Company-level data is incorporated into the fair value measurement, unfunded loan and lease commitments and letters of credit are classified as Level 3. ​ Valuation Techniques Used in the Fair Value Measurement of Assets and Liabilities Carried at the Lower of Cost or Fair Value ​ The Company applies the following valuation techniques to assets measured at the lower of cost or fair value: ​ Mortgage servicing rights MSRs are carried at the lower of cost or fair value and are therefore subject to fair value measurements on a nonrecurring basis. The fair value of MSRs is determined using models which use significant unobservable inputs, such as estimates of prepayment rates, the resultant weighted average lives of the MSRs and the option-adjusted spread levels. Accordingly, the Company classifies MSRs as Level 3. ​ Collateral-dependent loans Collateral-dependent loans are those for which repayment is expected to be provided substantially through the operation or sale of the collateral. ​ Other real estate owned The Company values these properties at fair value at the time the Company acquires them, which establishes their new cost basis. After acquisition, the Company carries such properties at the lower of cost or fair value less estimated selling costs on a nonrecurring basis. Fair value is measured on a nonrecurring basis using collateral values as a practical expedient. The fair values of collateral for other real estate owned are primarily based on real estate appraisal reports prepared by third-party appraisers less disposition costs, and are classified as Level 3. ​ Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis ​ The Company may be required to record certain assets at fair value on a nonrecurring basis in accordance with GAAP. These assets are subject to fair value adjustments that result from the application of lower of cost or fair value accounting or write-downs of individual assets to fair value. ​ The following table provides the level of valuation inputs used to determine each fair value adjustment and the fair value of the related individual assets or portfolio of assets with fair value adjustments on a nonrecurring basis as of March 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars Level 1 Level 2 Level 3 March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral-dependent loans ​ $ — ​ $ — ​ $ — December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral-dependent loans ​ $ — ​ $ — ​ $ 1,840 ​ Total expected credit losses recognized on collateral-dependent loans were nil and $0.4 million for the three months ended March 31, 2021 and 2020, respectively. ​ For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of March 31, 2021 and December 31, 2020, the significant unobservable inputs used in the fair value measurements were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements at March 31, 2021 ​ ​ ​ ​ ​ ​ ​ Significant ​ ​ (dollars in thousands) ​ Fair value Valuation Technique Unobservable Input Range Visa derivative ​ $ (3,382) ​ Discounted Cash Flow ​ Expected Conversation Rate - 1.6228 (2) ​ 1.5977 - 1.6228 ​ ​ ​ ​ ​ ​ ​ Expected Term - 1 year (3) ​ 0.5 to 1.5 years ​ ​ ​ ​ ​ ​ ​ Growth Rate - 13 % (4) ​ 4 % - 17 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements at December 31, 2020 ​ ​ ​ ​ ​ ​ ​ Significant ​ ​ (dollars in thousands) ​ Fair value Valuation Technique Unobservable Input Range Collateral-dependent loans ​ $ 1,840 ​ Appraisal Value ​ Appraisal Value ​ n/m (1) Visa derivative ​ $ (4,554) ​ Discounted Cash Flow ​ Expected Conversation Rate - 1.6228 (2) ​ 1.5977-1.6228 ​ ​ ​ ​ ​ ​ ​ Expected Term - 1 year (3) ​ 0.5 to 1.5 years ​ ​ ​ ​ ​ ​ ​ Growth Rate - 13% (4) ​ 4% - 17% (1) The fair value of these assets is determined based on appraised values of the collateral or broker opinions, the range of which is not meaningful to disclose. (2) Due to the uncertainty in the movement of the conversion rate, the current conversion rate was utilized in the fair value calculation. (3) The expected term of 1 year was based on the median of 0.5 to 1.5 years. (4) The growth rate of 13 % was based on the arithmetic average of analyst price targets. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Reportable Operating Segments

Reportable Operating Segments3 Months Ended
Mar. 31, 2021
Reportable Operating Segments
Reportable Operating Segments17. Reportable Operating Segments ​ The Company’s operations are organized into three business segments – Retail Banking, Commercial Banking, and Treasury and Other. These segments reflect how discrete financial information is currently evaluated by the chief operating decision maker and how performance is assessed and resources allocated. The Company’s internal management process measures the performance of these business segments. This process, which is not necessarily comparable with similar information for 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. ​ 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. ​ The Company allocates the provision for credit losses from the Treasury and Other business segment (which is comprised of many of the Company’s support units) to the Retail and Commercial business segments. These allocations are based on direct costs incurred by the Retail and Commercial business segments. ​ Noninterest income and expense includes allocations from support units to the business segments. These allocations are based on actual usage where practicably calculated or by management’s estimate of such usage. Income tax expense is allocated to each business segment based on the consolidated effective income tax rate for the period shown. ​ Business Segments ​ Retail Banking Retail Banking offers a broad range of financial products and services to consumers and small businesses. Loan and lease products offered include residential and commercial mortgage loans, home equity lines of credit, automobile loans and leases, personal lines of credit, installment loans and small business loans and leases. Deposit products offered include checking, savings, and time deposit accounts. Retail Banking also offers wealth management services. Products and services from Retail Banking are delivered to customers through 54 banking locations throughout the State of Hawaii, Guam, and Saipan. ​ Commercial Banking Commercial Banking offers products that include corporate banking, commercial real estate loans, commercial lease financing, automobile loans and auto dealer financing, business deposit products and credit cards. Commercial lending and deposit products are offered primarily to middle-market and large companies locally, nationally, and internationally. ​ Treasury and Other Treasury consists of corporate asset and liability management activities including interest rate risk management. The segment’s assets and liabilities (and related interest income and expense) consist of interest-bearing deposits, investment securities, federal funds sold and purchased, government deposits, short- and long-term borrowings and bank-owned properties. The primary sources of noninterest income are from bank-owned life insurance, net gains from the sale of investment securities, foreign exchange income related to customer-driven currency requests from merchants and island visitors and management of bank-owned properties. 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, Credit and Risk Management, Human Resources, Finance, Administration, Marketing, 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. ​ The following tables present selected business segment financial information for the periods indicated. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury ​ ​ ​ ​ ​ Retail ​ Commercial ​ and ​ ​ ​ (dollars in thousands) Banking Banking Other Total Three Months Ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income (expense) ​ $ 100,888 ​ $ 31,832 ​ $ (3,562) ​ $ 129,158 Benefit (Provision) for credit losses ​ ​ 1,470 ​ ​ 2,030 ​ ​ (3,500) ​ ​ — Net interest income (loss) after provision for credit losses ​ ​ 102,358 ​ ​ 33,862 ​ ​ (7,062) ​ ​ 129,158 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest income ​ ​ 23,575 ​ ​ 16,041 ​ ​ 4,252 ​ ​ 43,868 Noninterest expense ​ ​ (63,794) ​ ​ (21,573) ​ ​ (10,939) ​ ​ (96,306) Income (loss) before (provision) benefit for income taxes ​ ​ 62,139 ​ ​ 28,330 ​ ​ (13,749) ​ ​ 76,720 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Provision) benefit for income taxes ​ ​ (15,502) ​ ​ (6,968) ​ ​ 3,443 ​ ​ (19,027) Net income (loss) ​ $ 46,637 ​ $ 21,362 ​ $ (10,306) ​ $ 57,693 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury ​ ​ ​ ​ ​ Retail ​ Commercial ​ and ​ ​ ​ (dollars in thousands) Banking Banking Other Total Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income ​ $ 89,883 ​ $ 34,414 ​ $ 14,386 ​ $ 138,683 Provision for credit losses ​ ​ (20,065) ​ ​ (20,784) ​ ​ (351) ​ ​ (41,200) Net interest income after provision for credit losses ​ ​ 69,818 ​ ​ 13,630 ​ ​ 14,035 ​ ​ 97,483 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest income ​ ​ 26,376 ​ ​ 17,796 ​ ​ 5,056 ​ ​ 49,228 Noninterest expense ​ ​ (61,644) ​ ​ (21,505) ​ ​ (13,317) ​ ​ (96,466) Income before provision for income taxes ​ ​ 34,550 ​ ​ 9,921 ​ ​ 5,774 ​ ​ 50,245 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision for income taxes ​ ​ (7,523) ​ ​ (2,645) ​ ​ (1,212) ​ ​ (11,380) Net income ​ $ 27,027 ​ $ 7,276 ​ $ 4,562 ​ $ 38,865 ​

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)3 Months Ended
Mar. 31, 2021
Organization and Basis of Presentation
Organization and Basis of Presentation​ First Hawaiian, Inc. (“FHI” or the “Parent”), a bank holding company, owns 100% of the outstanding common stock of First Hawaiian Bank (“FHB” or the “Bank”), its only direct, wholly owned subsidiary. FHB offers a comprehensive suite of banking services, including loans, deposit products, wealth management, insurance, trust, retirement planning, credit card and merchant processing services, to consumer and commercial customers. ​ The accompanying unaudited interim consolidated financial statements of First Hawaiian, Inc. and Subsidiary (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. ​ The accompanying unaudited interim consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. ​ In the opinion of management, all adjustments, which consist of normal recurring adjustments necessary for a fair presentation of the interim period consolidated financial information, have been made. Results of operations for interim periods are not necessarily indicative of results to be expected for the entire year. Intercompany account balances and transactions have been eliminated in consolidation.
Use of Estimates in the Preparation of Financial StatementsUse of Estimates in the Preparation of Financial Statements ​ The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Although these estimates are based on management’s best knowledge of current events, actual results may differ from these estimates.
Accounting Standard Adopted in 2021 and Recent Accounting PronouncementsAccounting Standards Adopted in 2021 ​ In October 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-08, Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs ​ Recent Accounting Pronouncements ​ There were no ASUs issued by the FASB that were applicable to the Company in future reporting periods.

Investment Securities (Tables)

Investment Securities (Tables)3 Months Ended
Mar. 31, 2021
Investment Securities
Schedule of amortized cost and fair value of securities​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ December 31, 2020 ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair ​ Amortized ​ Unrealized ​ Unrealized ​ Fair (dollars in thousands) Cost Gains Losses Value Cost Gains Losses Value U.S. Treasury and government agency debt securities ​ $ 177,745 ​ $ 447 ​ $ (2,468) ​ $ 175,724 ​ $ 170,123 ​ $ 1,359 ​ $ (61) ​ $ 171,421 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government agency ​ ​ 129,908 ​ ​ 3,986 ​ ​ — ​ ​ 133,894 ​ ​ 155,169 ​ ​ 5,293 ​ ​ — ​ ​ 160,462 Residential - Government-sponsored enterprises ​ ​ 797,426 ​ ​ 10,867 ​ ​ (7,373) ​ ​ 800,920 ​ ​ 434,282 ​ ​ 13,643 ​ ​ (725) ​ ​ 447,200 Commercial - Government agency ​ ​ 523,293 ​ ​ 8,068 ​ ​ (3,845) ​ ​ 527,516 ​ ​ 583,232 ​ ​ 16,537 ​ ​ (119) ​ ​ 599,650 Commercial - Government-sponsored enterprises ​ ​ 1,180,034 ​ ​ 1,676 ​ ​ (47,535) ​ ​ 1,134,175 ​ ​ 931,095 ​ ​ 9,045 ​ ​ (7,983) ​ ​ 932,157 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ 1,818,181 ​ ​ 29,899 ​ ​ (2,982) ​ ​ 1,845,098 ​ ​ 1,902,326 ​ ​ 32,246 ​ ​ (1,019) ​ ​ 1,933,553 Government-sponsored enterprises ​ ​ 2,081,844 ​ ​ 15,537 ​ ​ (22,229) ​ ​ 2,075,152 ​ ​ 1,808,804 ​ ​ 18,991 ​ ​ (823) ​ ​ 1,826,972 Total available-for-sale securities ​ $ 6,708,431 ​ $ 70,480 ​ $ (86,432) ​ $ 6,692,479 ​ $ 5,985,031 ​ $ 97,114 ​ $ (10,730) ​ $ 6,071,415
Schedule of amortized cost and fair value of debt securities by contractual maturity​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ Amortized ​ Fair (dollars in thousands) Cost Value Due in one year or less ​ $ — ​ $ — Due after one year through five years ​ ​ 41,513 ​ ​ 41,878 Due after five years through ten years ​ ​ 83,988 ​ ​ 83,461 Due after ten years ​ ​ 52,244 ​ ​ 50,385 ​ ​ ​ 177,745 ​ ​ 175,724 ​ ​ ​ ​ ​ ​ ​ Mortgage-backed securities: ​ ​ ​ ​ ​ ​ Residential - Government agency ​ ​ 129,908 ​ ​ 133,894 Residential - Government-sponsored enterprises ​ ​ 797,426 ​ ​ 800,920 Commercial - Government agency ​ ​ 523,293 ​ ​ 527,516 Commercial - Government-sponsored enterprises ​ ​ 1,180,034 ​ ​ 1,134,175 Total mortgage-backed securities ​ ​ 2,630,661 ​ ​ 2,596,505 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ Government agency ​ ​ 1,818,181 ​ ​ 1,845,098 Government-sponsored enterprises ​ ​ 2,081,844 ​ ​ 2,075,152 Total collateralized mortgage obligations ​ ​ 3,900,025 ​ ​ 3,920,250 Total available-for-sale securities ​ $ 6,708,431 ​ $ 6,692,479
Schedule of gross unrealized losses and fair values of securities in a continuous loss position​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time in Continuous Loss as of March 31, 2021 ​ ​ Less Than 12 Months ​ 12 Months or More ​ Total ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ (dollars in thousands) Losses Fair Value Losses Fair Value Losses Fair Value U.S. Treasury and government agency debt securities ​ $ (2,468) ​ $ 121,457 ​ $ — ​ $ — ​ $ (2,468) ​ $ 121,457 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government-sponsored enterprises ​ ​ (7,373) ​ ​ 511,463 ​ ​ — ​ ​ — ​ ​ (7,373) ​ ​ 511,463 Commercial - Government agency ​ ​ (3,845) ​ ​ 248,776 ​ ​ — ​ ​ — ​ ​ (3,845) ​ ​ 248,776 Commercial - Government-sponsored enterprises ​ ​ (47,535) ​ ​ 898,725 ​ ​ — ​ ​ — ​ ​ (47,535) ​ ​ 898,725 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ (2,974) ​ ​ 370,875 ​ ​ (8) ​ ​ 5,020 ​ ​ (2,982) ​ ​ 375,895 Government-sponsored enterprises ​ ​ (22,229) ​ ​ 1,036,086 ​ ​ — ​ ​ — ​ ​ (22,229) ​ ​ 1,036,086 Total available-for-sale securities with unrealized losses ​ $ (86,424) ​ $ 3,187,382 ​ $ (8) ​ $ 5,020 ​ $ (86,432) ​ $ 3,192,402 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time in Continuous Loss as of December 31, 2020 ​ ​ Less Than 12 Months ​ 12 Months or More ​ Total ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ ​ Unrealized ​ ​ ​ (dollars in thousands) Losses Fair Value Losses Fair Value Losses Fair Value U.S. Treasury and government agency debt securities ​ $ (61) ​ $ 38,507 ​ $ — ​ $ — ​ $ (61) ​ $ 38,507 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government-sponsored enterprises ​ ​ (725) ​ ​ 64,987 ​ ​ — ​ ​ — ​ ​ (725) ​ ​ 64,987 Commercial - Government agency ​ ​ (119) ​ ​ 32,346 ​ ​ — ​ ​ — ​ ​ (119) ​ ​ 32,346 Commercial - Government-sponsored enterprises ​ ​ (7,983) ​ ​ 427,759 ​ ​ — ​ ​ — ​ ​ (7,983) ​ ​ 427,759 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ (994) ​ ​ 209,124 ​ ​ (25) ​ ​ 6,190 ​ ​ (1,019) ​ ​ 215,314 Government-sponsored enterprises ​ ​ (823) ​ ​ 296,160 ​ ​ — ​ ​ — ​ ​ (823) ​ ​ 296,160 Total available-for-sale securities with unrealized losses ​ $ (10,705) ​ $ 1,068,883 ​ $ (25) ​ $ 6,190 ​ $ (10,730) ​ $ 1,075,073

Loans and Leases (Tables)

Loans and Leases (Tables)3 Months Ended
Mar. 31, 2021
Loans and Leases.
Schedule of components of loans and leases​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (dollars in thousands) 2021 2020 Commercial and industrial ​ $ 3,121,436 ​ $ 3,019,507 Commercial real estate ​ ​ 3,396,233 ​ ​ 3,392,676 Construction ​ ​ 739,271 ​ ​ 735,819 Residential: ​ ​ ​ ​ ​ ​ Residential mortgage ​ ​ 3,715,676 ​ 3,690,218 Home equity line ​ ​ 805,746 ​ ​ 841,624 Total residential ​ 4,521,422 ​ ​ 4,531,842 Consumer ​ ​ 1,283,779 ​ ​ 1,353,842 Lease financing ​ ​ 238,148 ​ ​ 245,411 Total loans and leases ​ $ 13,300,289 ​ $ 13,279,097

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)3 Months Ended
Mar. 31, 2021
Allowance for Credit Losses
Schedule of activity in the allowance by class of loans and lease​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ ​ Commercial Lending ​ Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ ​ ​ ​ ​ ​ and ​ Real ​ ​ ​ Lease ​ Residential ​ Equity ​ ​ ​ ​ ​ ​ (dollars in thousands) Industrial Estate Construction Financing Mortgage Line Consumer Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 24,711 ​ $ 58,123 ​ $ 10,039 ​ $ 3,298 ​ $ 40,461 ​ $ 7,163 ​ $ 64,659 ​ $ 208,454 Charge-offs ​ ​ (963) ​ ​ (66) ​ ​ — ​ ​ — ​ ​ (98) ​ ​ — ​ ​ (6,541) ​ ​ (7,668) Recoveries ​ ​ 215 ​ ​ 3 ​ ​ 166 ​ ​ — ​ ​ 17 ​ ​ 24 ​ ​ 2,655 ​ ​ 3,080 Increase (decrease) in Provision ​ ​ 3,359 ​ ​ (6,369) ​ ​ 347 ​ ​ (101) ​ ​ (1,909) ​ ​ (519) ​ ​ 1,692 ​ ​ (3,500) Balance at end of period ​ $ 27,322 ​ $ 51,691 ​ $ 10,552 ​ $ 3,197 ​ $ 38,471 ​ $ 6,668 ​ $ 62,465 ​ $ 200,366 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ Commercial Lending ​ Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and ​ Real ​ ​ ​ Lease ​ Residential ​ Equity ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) Industrial Estate Construction Financing Mortgage Line Consumer Unallocated Total Allowance for credit losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 28,975 ​ $ 22,325 ​ $ 4,844 ​ $ 424 ​ $ 29,303 ​ $ 9,876 ​ $ 34,644 ​ $ 139 ​ $ 130,530 Adoption of ASU No. 2016-13 ​ ​ (16,105) ​ ​ 10,559 ​ ​ (1,803) ​ ​ 207 ​ ​ (2,793) ​ ​ (4,731) ​ ​ 15,575 ​ ​ (139) ​ ​ 770 Charge-offs ​ ​ (201) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (8) ​ ​ (8,597) ​ ​ — ​ ​ (8,806) Recoveries ​ ​ 220 ​ ​ — ​ ​ 110 ​ ​ — ​ ​ 135 ​ ​ 122 ​ ​ 2,083 ​ ​ — ​ ​ 2,670 Increase in Provision ​ ​ 7,995 ​ ​ 9,954 ​ ​ 5,673 ​ ​ 220 ​ ​ 3,376 ​ ​ 1,297 ​ ​ 12,334 ​ ​ — ​ ​ 40,849 Balance at end of period ​ $ 20,884 ​ $ 42,838 ​ $ 8,824 ​ $ 851 ​ $ 30,021 ​ $ 6,556 ​ $ 56,039 ​ $ — ​ $ 166,013 ​
Schedule of activity in the Liability for Credit Losses for Off-Balance-Sheet Financial Instruments​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ ​ Commercial Lending ​ Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ ​ ​ ​ ​ ​ and ​ Real ​ ​ ​ Lease ​ Residential ​ Equity ​ ​ ​ ​ ​ ​ (dollars in thousands) Industrial Estate Construction Financing Mortgage Line Consumer Total Reserve for unfunded commitments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ 11,719 ​ $ 1,328 ​ $ 9,037 ​ $ — ​ $ 2 ​ $ 8,452 ​ $ 65 ​ $ 30,603 Increase (decrease) in Provision ​ ​ 4,410 ​ ​ (216) ​ ​ (724) ​ ​ — ​ ​ (2) ​ ​ 48 ​ ​ (16) ​ ​ 3,500 Balance at end of period ​ $ 16,129 ​ $ 1,112 ​ $ 8,313 ​ $ — ​ $ — ​ $ 8,500 ​ $ 49 ​ $ 34,103 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ Commercial Lending ​ Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ ​ ​ ​ Home ​ ​ ​ ​ ​ ​ ​ ​ and ​ Real ​ ​ ​ Lease ​ Residential ​ Equity ​ ​ ​ ​ ​ ​ (dollars in thousands) Industrial Estate Construction Financing Mortgage Line Consumer Total Reserve for unfunded commitments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 600 ​ $ 600 Adoption of ASU No. 2016-13 ​ ​ 5,390 ​ ​ 778 ​ ​ 4,119 ​ ​ — ​ ​ 7 ​ ​ 6,587 ​ ​ (581) ​ ​ 16,300 Increase (decrease) in Provision ​ ​ (599) ​ ​ (82) ​ ​ 694 ​ ​ — ​ ​ (6) ​ ​ 340 ​ ​ 4 ​ ​ 351 Balance at end of period ​ $ 4,791 ​ $ 696 ​ $ 4,813 ​ $ — ​ $ 1 ​ $ 6,927 ​ $ 23 ​ $ 17,251
Schedule of amortized cost basis by year of origination and credit quality indicatorThe amortized cost basis by year of origination and credit quality indicator of the Company’s loans and leases as of March 31, 2021 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Converted ​ ​ ​ ​ ​ Term Loans ​ Revolving ​ to Term ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Amortized ​ ​ ​ (dollars in thousands) ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior ​ Cost Basis ​ Cost Basis ​ Total Commercial Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 495,898 ​ $ 781,914 ​ $ 315,190 ​ $ 152,290 ​ $ 51,136 ​ $ 218,781 ​ $ 785,046 ​ $ 27,922 ​ $ 2,828,177 Special Mention ​ ​ — ​ ​ 17,608 ​ ​ 10,957 ​ ​ 19,751 ​ ​ 1,930 ​ ​ 5,373 ​ ​ 66,867 ​ ​ 607 ​ ​ 123,093 Substandard ​ ​ — ​ ​ 23,098 ​ ​ 2,808 ​ ​ 16,913 ​ ​ 584 ​ ​ 12,048 ​ ​ 28,361 ​ ​ 1,367 ​ ​ 85,179 Other (1) ​ ​ 3,252 ​ ​ 9,848 ​ ​ 11,793 ​ ​ 7,889 ​ ​ 4,362 ​ ​ 1,496 ​ ​ 46,347 ​ ​ — ​ ​ 84,987 Total Commercial and Industrial ​ ​ 499,150 ​ ​ 832,468 ​ ​ 340,748 ​ ​ 196,843 ​ ​ 58,012 ​ ​ 237,698 ​ ​ 926,621 ​ ​ 29,896 ​ ​ 3,121,436 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 41,958 ​ ​ 346,445 ​ ​ 613,930 ​ ​ 556,954 ​ ​ 454,433 ​ ​ 1,104,669 ​ ​ 51,280 ​ ​ 8 ​ ​ 3,169,677 Special Mention ​ ​ — ​ ​ 1,491 ​ ​ 58,763 ​ ​ 14,518 ​ ​ 33,401 ​ ​ 64,971 ​ ​ — ​ ​ — ​ ​ 173,144 Substandard ​ ​ — ​ ​ 346 ​ ​ — ​ ​ 14,751 ​ ​ 3,740 ​ ​ 26,082 ​ ​ 8,004 ​ ​ — ​ ​ 52,923 Other (1) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 489 ​ ​ — ​ ​ — ​ ​ 489 Total Commercial Real Estate ​ ​ 41,958 ​ ​ 348,282 ​ ​ 672,693 ​ ​ 586,223 ​ ​ 491,574 ​ ​ 1,196,211 ​ ​ 59,284 ​ ​ 8 ​ ​ 3,396,233 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 32,201 ​ ​ 73,512 ​ ​ 260,522 ​ ​ 162,052 ​ ​ 58,537 ​ ​ 63,624 ​ ​ 24,043 ​ ​ — ​ ​ 674,491 Special Mention ​ ​ — ​ ​ — ​ ​ 507 ​ ​ 706 ​ ​ 4,429 ​ ​ 9,172 ​ ​ — ​ ​ — ​ ​ 14,814 Substandard ​ ​ — ​ ​ — ​ ​ — ​ ​ 536 ​ ​ — ​ ​ 1,478 ​ ​ — ​ ​ — ​ ​ 2,014 Other (1) ​ ​ 5,410 ​ ​ 16,755 ​ ​ 9,924 ​ ​ 7,588 ​ ​ 3,655 ​ ​ 4,040 ​ ​ 580 ​ ​ — ​ ​ 47,952 Total Construction ​ ​ 37,611 ​ ​ 90,267 ​ ​ 270,953 ​ ​ 170,882 ​ ​ 66,621 ​ ​ 78,314 ​ ​ 24,623 ​ ​ — ​ ​ 739,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease Financing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 6,487 ​ ​ 73,461 ​ ​ 58,375 ​ ​ 12,521 ​ ​ 16,410 ​ ​ 60,734 ​ ​ — ​ ​ — ​ ​ 227,988 Special Mention ​ ​ 566 ​ ​ 334 ​ ​ 843 ​ ​ 286 ​ ​ 1,223 ​ ​ 599 ​ ​ — ​ ​ — ​ ​ 3,851 Substandard ​ ​ — ​ ​ 2,714 ​ ​ 1,673 ​ ​ 293 ​ ​ 1,107 ​ ​ 522 ​ ​ — ​ ​ — ​ ​ 6,309 Total Lease Financing ​ ​ 7,053 ​ ​ 76,509 ​ ​ 60,891 ​ ​ 13,100 ​ ​ 18,740 ​ ​ 61,855 ​ ​ — ​ ​ — ​ ​ 238,148 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Commercial Lending ​ $ 585,772 ​ $ 1,347,526 ​ $ 1,345,285 ​ $ 967,048 ​ $ 634,947 ​ $ 1,574,078 ​ $ 1,010,528 ​ $ 29,904 ​ $ 7,495,088 (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Converted ​ ​ ​ ​ ​ Term Loans ​ Revolving ​ to Term ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Amortized ​ ​ ​ (dollars in thousands) ​ 2021 ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ Prior ​ Cost Basis ​ Cost Basis ​ Total Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ $ 269,847 ​ $ 698,143 ​ $ 355,459 ​ $ 261,304 ​ $ 320,423 ​ $ 1,031,922 ​ $ — ​ $ — ​ $ 2,937,098 680 - 739 ​ ​ 32,425 ​ ​ 83,210 ​ ​ 51,384 ​ ​ 41,764 ​ ​ 48,039 ​ ​ 168,279 ​ ​ — ​ ​ — ​ ​ 425,101 620 - 679 ​ ​ 4,220 ​ ​ 15,727 ​ ​ 7,626 ​ ​ 11,214 ​ ​ 9,310 ​ ​ 49,018 ​ ​ — ​ ​ — ​ ​ 97,115 550 - 619 ​ ​ — ​ ​ — ​ ​ 1,945 ​ ​ 2,810 ​ ​ 2,906 ​ ​ 14,044 ​ ​ — ​ ​ — ​ ​ 21,705 Less than 550 ​ ​ — ​ ​ — ​ ​ 854 ​ ​ 602 ​ ​ 2,914 ​ ​ 2,673 ​ ​ — ​ ​ — ​ ​ 7,043 No Score (3) ​ ​ 4,599 ​ ​ 12,498 ​ ​ 17,761 ​ ​ 21,197 ​ ​ 19,972 ​ ​ 55,404 ​ ​ — ​ ​ — ​ ​ 131,431 Other (2) ​ ​ 5,767 ​ ​ 20,213 ​ ​ 13,584 ​ ​ 13,754 ​ ​ 20,607 ​ ​ 21,516 ​ ​ 580 ​ ​ 162 ​ ​ 96,183 Total Residential Mortgage ​ ​ 316,858 ​ ​ 829,791 ​ ​ 448,613 ​ ​ 352,645 ​ ​ 424,171 ​ ​ 1,342,856 ​ ​ 580 ​ ​ 162 ​ ​ 3,715,676 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home Equity Line ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 589,662 ​ ​ 2,108 ​ ​ 591,770 680 - 739 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 149,384 ​ ​ 3,537 ​ ​ 152,921 620 - 679 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 37,325 ​ ​ 1,432 ​ ​ 38,757 550 - 619 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 12,870 ​ ​ 1,419 ​ ​ 14,289 Less than 550 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,641 ​ ​ 359 ​ ​ 4,000 No Score (3) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 4,009 ​ ​ — ​ ​ 4,009 Total Home Equity Line ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 796,891 ​ ​ 8,855 ​ ​ 805,746 Total Residential Lending ​ ​ 316,858 ​ ​ 829,791 ​ ​ 448,613 ​ ​ 352,645 ​ ​ 424,171 ​ ​ 1,342,856 ​ ​ 797,471 ​ ​ 9,017 ​ ​ 4,521,422 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ ​ 37,038 ​ ​ 105,809 ​ ​ 109,925 ​ ​ 86,146 ​ ​ 44,909 ​ ​ 22,098 ​ ​ 107,725 ​ ​ 266 ​ ​ 513,916 680 - 739 ​ ​ 19,163 ​ ​ 79,376 ​ ​ 82,058 ​ ​ 58,077 ​ ​ 31,081 ​ ​ 16,370 ​ ​ 72,053 ​ ​ 774 ​ ​ 358,952 620 - 679 ​ ​ 6,167 ​ ​ 38,079 ​ ​ 44,459 ​ ​ 30,055 ​ ​ 21,453 ​ ​ 11,715 ​ ​ 33,935 ​ ​ 1,213 ​ ​ 187,076 550 - 619 ​ ​ 337 ​ ​ 8,215 ​ ​ 18,414 ​ ​ 15,800 ​ ​ 13,267 ​ ​ 8,437 ​ ​ 11,582 ​ ​ 1,364 ​ ​ 77,416 Less than 550 ​ ​ 88 ​ ​ 2,644 ​ ​ 8,907 ​ ​ 7,785 ​ ​ 5,711 ​ ​ 3,445 ​ ​ 4,181 ​ ​ 719 ​ ​ 33,480 No Score (3) ​ ​ 955 ​ ​ 354 ​ ​ 99 ​ ​ 57 ​ ​ 99 ​ ​ 7 ​ ​ 32,161 ​ ​ 411 ​ ​ 34,143 Other (2) ​ ​ — ​ ​ 376 ​ ​ 1,774 ​ ​ 66 ​ ​ 2,183 ​ ​ 6,748 ​ ​ 67,649 ​ ​ — ​ ​ 78,796 Total Consumer Lending ​ ​ 63,748 ​ ​ 234,853 ​ ​ 265,636 ​ ​ 197,986 ​ ​ 118,703 ​ ​ 68,820 ​ ​ 329,286 ​ ​ 4,747 ​ ​ 1,283,779 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans and Leases ​ $ 966,378 ​ $ 2,412,170 ​ $ 2,059,534 ​ $ 1,517,679 ​ $ 1,177,821 ​ $ 2,985,754 ​ $ 2,137,285 ​ $ 43,668 ​ $ 13,300,289 (1) Other credit quality indicators used for monitoring purposes are primarily FICO scores. The majority of the loans in this population were originated to borrowers with a prime FICO score. (2) Other credit quality indicators used for monitoring purposes are primarily internal risk ratings. The majority of the loans in this population were graded with a “Pass” rating. (3) No FICO scores are primarily related to loans and leases extended to non-residents. Loans and leases of this nature are primarily secured by collateral and/or are closely monitored for performance. ​ The amortized cost basis by year of origination and credit quality indicator of the Company’s loans and leases as of December 31, 2020 was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Converted ​ ​ ​ ​ ​ Term Loans ​ Revolving ​ to Term ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Amortized ​ ​ ​ (dollars in thousands) ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ Prior ​ Cost Basis ​ Cost Basis ​ Total Commercial Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ $ 873,639 ​ $ 324,030 ​ $ 183,329 ​ $ 73,000 ​ $ 49,886 ​ $ 94,360 ​ $ 1,058,786 ​ $ 28,853 ​ $ 2,685,883 Special Mention ​ ​ 20,937 ​ ​ 10,370 ​ ​ 20,164 ​ ​ 2,099 ​ ​ 279 ​ ​ 8,316 ​ ​ 101,183 ​ ​ 1,549 ​ ​ 164,897 Substandard ​ ​ 23,804 ​ ​ 2,023 ​ ​ 2,568 ​ ​ 677 ​ ​ 4,063 ​ ​ 8,113 ​ ​ 33,775 ​ ​ 250 ​ ​ 75,273 Other (1) ​ ​ 13,142 ​ ​ 13,426 ​ ​ 9,246 ​ ​ 5,337 ​ ​ 1,867 ​ ​ 280 ​ ​ 50,156 ​ ​ — ​ ​ 93,454 Total Commercial and Industrial ​ ​ 931,522 ​ ​ 349,849 ​ ​ 215,307 ​ ​ 81,113 ​ ​ 56,095 ​ ​ 111,069 ​ ​ 1,243,900 ​ ​ 30,652 ​ ​ 3,019,507 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Real Estate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 342,845 ​ ​ 611,243 ​ ​ 541,104 ​ ​ 447,366 ​ ​ 295,426 ​ ​ 814,398 ​ ​ 47,604 ​ ​ 323 ​ ​ 3,100,309 Special Mention ​ ​ 1,500 ​ ​ 63,617 ​ ​ 26,187 ​ ​ 33,482 ​ ​ 37,841 ​ ​ 61,279 ​ ​ 2,999 ​ ​ — ​ ​ 226,905 Substandard ​ ​ 29 ​ ​ 3,964 ​ ​ 18,983 ​ ​ 3,779 ​ ​ 10,615 ​ ​ 18,083 ​ ​ 9,511 ​ ​ — ​ ​ 64,964 Other (1) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Total Commercial Real Estate ​ ​ 344,374 ​ ​ 678,824 ​ ​ 586,274 ​ ​ 484,627 ​ ​ 343,882 ​ ​ 894,258 ​ ​ 60,114 ​ ​ 323 ​ ​ 3,392,676 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Construction ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 53,931 ​ ​ 233,730 ​ ​ 202,808 ​ ​ 83,792 ​ ​ 23,171 ​ ​ 41,536 ​ ​ 28,386 ​ ​ — ​ ​ 667,354 Special Mention ​ ​ — ​ ​ 508 ​ ​ 707 ​ ​ 4,717 ​ ​ — ​ ​ 9,172 ​ ​ — ​ ​ — ​ ​ 15,104 Substandard ​ ​ — ​ ​ — ​ ​ 541 ​ ​ 1,840 ​ ​ 521 ​ ​ 989 ​ ​ — ​ ​ — ​ ​ 3,891 Other (1) ​ ​ 16,578 ​ ​ 16,393 ​ ​ 7,775 ​ ​ 3,685 ​ ​ 1,800 ​ ​ 2,656 ​ ​ 583 ​ ​ — ​ ​ 49,470 Total Construction ​ ​ 70,509 ​ ​ 250,631 ​ ​ 211,831 ​ ​ 94,034 ​ ​ 25,492 ​ ​ 54,353 ​ ​ 28,969 ​ ​ — ​ ​ 735,819 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lease Financing ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Risk rating: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pass ​ ​ 79,064 ​ ​ 60,717 ​ ​ 13,669 ​ ​ 17,207 ​ ​ 3,010 ​ ​ 61,266 ​ ​ — ​ ​ — ​ ​ 234,933 Special Mention ​ ​ 950 ​ ​ 892 ​ ​ 311 ​ ​ 1,300 ​ ​ 351 ​ ​ 295 ​ ​ — ​ ​ — ​ ​ 4,099 Substandard ​ ​ 2,708 ​ ​ 1,677 ​ ​ 327 ​ ​ 1,141 ​ ​ — ​ ​ 526 ​ ​ — ​ ​ — ​ ​ 6,379 Total Lease Financing ​ ​ 82,722 ​ ​ 63,286 ​ ​ 14,307 ​ ​ 19,648 ​ ​ 3,361 ​ ​ 62,087 ​ ​ — ​ ​ — ​ ​ 245,411 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Commercial Lending ​ $ 1,429,127 ​ $ 1,342,590 ​ $ 1,027,719 ​ $ 679,422 ​ $ 428,830 ​ $ 1,121,767 ​ $ 1,332,983 ​ $ 30,975 ​ $ 7,393,413 (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Converted ​ ​ ​ ​ ​ Term Loans ​ Revolving ​ to Term ​ ​ ​ ​ ​ Amortized Cost Basis by Origination Year ​ Loans ​ Loans ​ ​ ​ (continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Amortized ​ ​ ​ (dollars in thousands) ​ 2020 ​ 2019 ​ 2018 ​ 2017 ​ 2016 ​ Prior ​ Cost Basis ​ Cost Basis ​ Total Residential Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential Mortgage ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ $ 728,807 ​ $ 384,248 ​ $ 290,484 ​ $ 361,297 ​ $ 314,971 ​ $ 830,795 ​ $ — ​ $ — ​ $ 2,910,602 680 - 739 ​ ​ 85,151 ​ ​ 53,090 ​ ​ 44,616 ​ ​ 50,703 ​ ​ 39,230 ​ ​ 144,537 ​ ​ — ​ ​ — ​ ​ 417,327 620 - 679 ​ ​ 15,767 ​ ​ 7,604 ​ ​ 11,460 ​ ​ 9,628 ​ ​ 7,982 ​ ​ 43,393 ​ ​ — ​ ​ — ​ ​ 95,834 550 - 619 ​ ​ — ​ ​ 1,971 ​ ​ 2,818 ​ ​ 2,920 ​ ​ 4,474 ​ ​ 10,144 ​ ​ — ​ ​ — ​ ​ 22,327 Less than 550 ​ ​ — ​ ​ 861 ​ ​ 593 ​ ​ 2,916 ​ ​ 594 ​ ​ 2,138 ​ ​ — ​ ​ — ​ ​ 7,102 No Score (3) ​ ​ 13,823 ​ ​ 18,861 ​ ​ 21,214 ​ ​ 21,821 ​ ​ 14,355 ​ ​ 45,147 ​ ​ — ​ ​ — ​ ​ 135,221 Other (2) ​ ​ 21,011 ​ ​ 15,860 ​ ​ 18,540 ​ ​ 22,677 ​ ​ 9,550 ​ ​ 13,426 ​ ​ 578 ​ ​ 163 ​ ​ 101,805 Total Residential Mortgage ​ ​ 864,559 ​ ​ 482,495 ​ ​ 389,725 ​ ​ 471,962 ​ ​ 391,156 ​ ​ 1,089,580 ​ ​ 578 ​ ​ 163 ​ ​ 3,690,218 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Home Equity Line ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 608,282 ​ ​ 2,163 ​ ​ 610,445 680 - 739 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 159,886 ​ ​ 3,155 ​ ​ 163,041 620 - 679 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 44,005 ​ ​ 1,571 ​ ​ 45,576 550 - 619 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 11,644 ​ ​ 884 ​ ​ 12,528 Less than 550 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 5,159 ​ ​ 330 ​ ​ 5,489 No Score (3) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 4,545 ​ ​ — ​ ​ 4,545 Total Home Equity Line ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 833,521 ​ ​ 8,103 ​ ​ 841,624 Total Residential Lending ​ ​ 864,559 ​ ​ 482,495 ​ ​ 389,725 ​ ​ 471,962 ​ ​ 391,156 ​ ​ 1,089,580 ​ ​ 834,099 ​ ​ 8,266 ​ ​ 4,531,842 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consumer Lending ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FICO: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 740 and greater ​ ​ 113,373 ​ ​ 122,965 ​ ​ 99,678 ​ ​ 54,691 ​ ​ 24,029 ​ ​ 6,034 ​ ​ 114,748 ​ ​ 275 ​ ​ 535,793 680 - 739 ​ ​ 83,316 ​ ​ 90,853 ​ ​ 66,143 ​ ​ 36,426 ​ ​ 16,358 ​ ​ 4,985 ​ ​ 76,391 ​ ​ 773 ​ ​ 375,245 620 - 679 ​ ​ 40,469 ​ ​ 48,904 ​ ​ 33,917 ​ ​ 24,705 ​ ​ 11,144 ​ ​ 3,788 ​ ​ 36,622 ​ ​ 1,221 ​ ​ 200,770 550 - 619 ​ ​ 9,125 ​ ​ 20,274 ​ ​ 17,693 ​ ​ 15,126 ​ ​ 7,825 ​ ​ 2,883 ​ ​ 12,980 ​ ​ 1,458 ​ ​ 87,364 Less than 550 ​ ​ 3,017 ​ ​ 10,139 ​ ​ 9,189 ​ ​ 6,517 ​ ​ 3,123 ​ ​ 1,118 ​ ​ 5,261 ​ ​ 799 ​ ​ 39,163 No Score (3) ​ ​ 339 ​ ​ 103 ​ ​ 64 ​ ​ 109 ​ ​ 10 ​ ​ — ​ ​ 33,854 ​ ​ 356 ​ ​ 34,835 Other (2) ​ ​ 380 ​ ​ 1,890 ​ ​ 73 ​ ​ 2,214 ​ ​ 45 ​ ​ 6,768 ​ ​ 69,302 ​ ​ — ​ ​ 80,672 Total Consumer Lending ​ ​ 250,019 ​ ​ 295,128 ​ ​ 226,757 ​ ​ 139,788 ​ ​ 62,534 ​ ​ 25,576 ​ ​ 349,158 ​ ​ 4,882 ​ ​ 1,353,842 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans and Leases ​ $ 2,543,705 ​ $ 2,120,213 ​ $ 1,644,201 ​ $ 1,291,172 ​ $ 882,520 ​ $ 2,236,923 ​ $ 2,516,240 ​ $ 44,123 ​ $ 13,279,097 (1) Other credit quality indicators used for monitoring purposes are primarily FICO scores. The majority of the loans in this population were originated to borrowers with a prime FICO score. (2) Other credit quality indicators used for monitoring purposes are primarily internal risk ratings. The majority of the loans in this population were graded with a “Pass” rating. (3) No FICO scores are primarily related to loans and leases extended to non-residents. Loans and leases of this nature are primarily secured by collateral and/or are closely monitored for performance.
Schedule of revolving loans that were converted to term loans​ ​ ​ ​ ​ ​ ​ Three Months Ended (dollars in thousands) ​ March 31, 2021 Commercial and industrial ​ $ 229 Home equity line ​ ​ 1,079 Consumer ​ ​ 493 Total Revolving Loans Converted to Term Loans During the Period ​ $ 1,801 ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended (dollars in thousands) ​ March 31, 2020 Commercial and industrial ​ $ 28,228 Residential mortgage ​ ​ 296 Total Revolving Loans Converted to Term Loans During the Period ​ $ 28,524
Schedule of aging analyses of past due loans and leases​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ Past Due ​ ​ ​ ​ ​ Loans and ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ Leases Past ​ ​ ​ ​ ​ ​ Than or ​ ​ ​ ​ ​ ​ ​ Due 90 Days ​ ​ 30-59 ​ 60-89 ​ Equal to ​ ​ ​ ​ ​ ​ ​ or More and ​ ​ Days ​ Days ​ 90 Days ​ Total ​ ​ ​ Total Loans ​ Still Accruing (dollars in thousands) Past Due Past Due Past Due Past Due Current and Leases ​ Interest Commercial and industrial ​ $ 4,710 ​ $ 786 ​ $ 1,751 ​ $ 7,247 ​ $ 3,114,189 ​ $ 3,121,436 ​ $ 1,365 Commercial real estate ​ ​ 1,727 ​ ​ 443 ​ ​ 1,990 ​ ​ 4,160 ​ ​ 3,392,073 ​ ​ 3,396,233 ​ ​ 1,054 Construction ​ ​ 1,383 ​ ​ — ​ ​ 668 ​ ​ 2,051 ​ ​ 737,220 ​ ​ 739,271 ​ ​ 89 Lease financing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 238,148 ​ ​ 238,148 ​ ​ — Residential mortgage ​ ​ 11,659 ​ ​ 904 ​ ​ 3,152 ​ ​ 15,715 ​ ​ 3,699,961 ​ ​ 3,715,676 ​ ​ — Home equity line ​ ​ 1,744 ​ ​ 126 ​ ​ 4,975 ​ ​ 6,845 ​ ​ 798,901 ​ ​ 805,746 ​ ​ 4,975 Consumer ​ ​ 10,611 ​ ​ 2,282 ​ ​ 2,024 ​ ​ 14,917 ​ ​ 1,268,862 ​ ​ 1,283,779 ​ ​ 2,024 Total ​ $ 31,834 ​ $ 4,541 ​ $ 14,560 ​ $ 50,935 ​ $ 13,249,354 ​ $ 13,300,289 ​ $ 9,507 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Past Due ​ ​ ​ ​ ​ Loans and ​ ​ ​ ​ ​ ​ Greater ​ ​ ​ ​ ​ ​ ​ Leases Past ​ ​ ​ ​ ​ ​ Than or ​ ​ ​ ​ ​ ​ ​ Due 90 Days ​ ​ 30-59 ​ 60-89 ​ Equal to ​ ​ ​ ​ ​ ​ ​ or More and ​ ​ Days ​ Days ​ 90 Days ​ Total ​ ​ ​ Total Loans ​ Still Accruing (dollars in thousands) Past Due Past Due Past Due Past Due Current and Leases ​ Interest Commercial and industrial ​ $ 2,585 ​ $ 604 ​ $ 2,626 ​ $ 5,815 ​ $ 3,013,692 ​ $ 3,019,507 ​ $ 2,108 Commercial real estate ​ ​ 75 ​ ​ 2,568 ​ ​ 963 ​ ​ 3,606 ​ ​ 3,389,070 ​ ​ 3,392,676 ​ ​ 882 Construction ​ ​ 779 ​ ​ 376 ​ ​ 2,137 ​ ​ 3,292 ​ ​ 732,527 ​ ​ 735,819 ​ ​ 93 Lease financing ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 245,411 ​ ​ 245,411 ​ ​ — Residential mortgage ​ ​ 3,382 ​ ​ 4,125 ​ ​ 3,372 ​ ​ 10,879 ​ ​ 3,679,339 ​ ​ 3,690,218 ​ ​ — Home equity line ​ ​ 1,375 ​ ​ 743 ​ ​ 4,818 ​ ​ 6,936 ​ ​ 834,688 ​ ​ 841,624 ​ ​ 4,818 Consumer ​ ​ 18,492 ​ ​ 5,205 ​ ​ 3,266 ​ ​ 26,963 ​ ​ 1,326,879 ​ ​ 1,353,842 ​ ​ 3,266 Total ​ $ 26,688 ​ $ 13,621 ​ $ 17,182 ​ $ 57,491 ​ $ 13,221,606 ​ $ 13,279,097 ​ $ 11,167
Schedule of amortized cost basis of loans and leases on nonaccrual status​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ Nonaccrual ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ and Leases ​ ​ ​ ​ ​ With No ​ Nonaccrual ​ ​ Allowance ​ Loans (dollars in thousands) for Credit Losses ​ and Leases Commercial and industrial ​ $ — ​ $ 593 Commercial real estate ​ ​ 857 ​ ​ 937 Construction ​ ​ — ​ ​ 579 Residential mortgage ​ ​ 1,311 ​ ​ 6,999 Total Nonaccrual Loans and Leases ​ $ 2,168 ​ $ 9,108 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Nonaccrual ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ and Leases ​ ​ ​ ​ ​ With No ​ Nonaccrual ​ ​ Allowance ​ Loans (dollars in thousands) for Credit Losses ​ and Leases Commercial and industrial ​ $ — ​ $ 518 Commercial real estate ​ ​ — ​ ​ 80 Construction ​ ​ 1,840 ​ ​ 2,043 Residential mortgage ​ ​ 1,316 ​ ​ 6,441 Total Nonaccrual Loans and Leases ​ $ 3,156 ​ $ 9,082
Schedule of information related to loans modified in a TDR​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Three Months Ended ​ ​ March 31, 2021 ​ March 31, 2020 ​ ​ Number of ​ Recorded ​ Related ​ Number of ​ Recorded ​ Related (dollars in thousands) Contracts Investment (1) ACL Contracts (1) Investment (2) ACL Commercial and industrial ​ 17 ​ $ 2,945 ​ $ 1,648 ​ 1 ​ $ 500 ​ $ 30 Construction ​ 2 ​ ​ 716 ​ ​ 342 ​ — ​ ​ — ​ ​ — Residential mortgage ​ 10 ​ ​ 4,916 ​ ​ 374 ​ — ​ ​ — ​ ​ — Consumer ​ 1,690 ​ ​ 15,763 ​ ​ 11,832 ​ — ​ ​ — ​ ​ — Total ​ 1,719 ​ $ 24,340 ​ $ 14,196 ​ 1 ​ $ 500 ​ $ 30 (1) The recorded investment balances reflect all partial paydowns and charge-offs since the modification date and do not include TDRs that have been fully paid off, charged off, or foreclosed upon by the end of the period. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of TDRs that defaulted in period within 12 months of their permanent modification date​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Three Months Ended ​ March 31, 2021 ​ March 31, 2020 ​ Number of ​ Recorded ​ Number of ​ Recorded (dollars in Contracts Investment (1) Contracts Investment (1) Commercial and industrial (2) 2 ​ $ 397 ​ — ​ $ — Construction (3) 1 ​ ​ 361 ​ — ​ ​ — Residential mortgage (4) 1 ​ ​ 372 ​ — ​ ​ — Consumer (5) 93 ​ ​ 1,068 ​ — ​ ​ — Total 97 ​ $ 2,198 ​ — ​ $ — (1) The recorded investment balances reflect all partial paydowns and charge-offs since the modification date and do not include TDRs that have been fully paid off, charged off, or foreclosed upon by the end of the period. (2) For the three months ended March 31, 2021, the types of modifications for the commercial and industrial loans that subsequently defaulted include temporary deferrals of principal and interest and temporary reduced payments. (3) For the three months ended March 31, 2021, the construction loan that subsequently defaulted was modified through temporary deferral of principal and interest. (4) For the three months ended March 31, 2021, the residential mortgage loan that subsequently defaulted was modified through temporary interest-only payments. (5) For the three months ended March 31, 2021, the types of modifications for the consumers loans that subsequently defaulted include temporary reduced payments, temporary interest-only payments and below-market interest rates.

Mortgage Servicing Rights (Tabl

Mortgage Servicing Rights (Tables)3 Months Ended
Mar. 31, 2021
Mortgage Servicing Rights
Schedule of estimated future amortization expense for MSRs​ ​ ​ ​ ​ ​ ​ Estimated (dollars in thousands) Amortization Under one year ​ $ 2,013 One to two years ​ ​ 1,615 Two to three years ​ ​ 1,323 Three to four years ​ ​ 1,100 Four to five years ​ ​ 924
Schedule of details of the Company's MSRs​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (dollars in thousands) 2021 2020 Gross carrying amount ​ $ 68,540 ​ $ 67,856 Less: accumulated amortization ​ ​ 57,671 ​ ​ 57,125 Net carrying value ​ $ 10,869 ​ $ 10,731
Schedule of changes in amortized MSRs​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (dollars in thousands) 2021 2020 Balance at beginning of period ​ $ 10,731 ​ $ 12,668 Originations ​ ​ 683 ​ ​ 1,291 Amortization ​ ​ (545) ​ ​ (1,980) Balance at end of period ​ $ 10,869 ​ $ 11,979 Fair value of amortized MSRs at beginning of period ​ $ 14,029 ​ $ 20,329 Fair value of amortized MSRs at end of period ​ $ 14,921 ​ $ 17,615
Schedule of quantitative assumptions used in determining lower of cost or fair value of MSRs​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ ​ Range ​ Average ​ Range ​ Average ​ Conditional prepayment rate ​ 12.79 % - 27.09 % 14.18 % 11.86 % - 26.52 % 16.90 % Life in years (of the MSR) ​ 1.86 ​ - 6.31 ​ 5.17 ​ 1.83 ​ - 6.68 ​ 4.45 ​ Weighted-average coupon rate ​ 3.41 % - 6.91 % 3.79 % 3.24 % - 6.98 % 3.84 % Discount rate ​ 10.00 % - 10.00 % 10.00 % 10.00 % - 10.00 % 10.00 %

Transfers of Financial Assets (

Transfers of Financial Assets (Tables)3 Months Ended
Mar. 31, 2021
Transfers of Financial Assets
Schedule of carrying amounts of assets pledged as collateral​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) March 31, 2021 December 31, 2020 Public deposits ​ $ 2,418,838 ​ $ 2,251,508 Federal Home Loan Bank ​ ​ 2,887,878 ​ ​ 2,917,317 Federal Reserve Bank ​ ​ 1,929,876 ​ ​ 1,919,744 ACH transactions ​ ​ 111,454 ​ ​ 111,347 Interest rate swaps ​ ​ 42,373 ​ ​ 56,004 Total ​ $ 7,390,419 ​ $ 7,255,920

Deposits (Tables)

Deposits (Tables)3 Months Ended
Mar. 31, 2021
Deposits
Schedule of deposits by category​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) March 31, 2021 December 31, 2020 U.S.: ​ ​ ​ ​ ​ ​ Interest-bearing ​ $ 11,159,564 ​ $ 10,928,712 Noninterest-bearing ​ ​ 7,329,662 ​ ​ 6,674,352 Foreign: ​ ​ ​ ​ ​ ​ Interest-bearing ​ ​ 799,042 ​ ​ 776,897 Noninterest-bearing ​ ​ 845,413 ​ ​ 847,762 Total deposits ​ $ 20,133,681 ​ $ 19,227,723
Schedule of maturity distribution of time certificates of depositThe following table presents the maturity distribution of time certificates of deposit as of March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Under ​ $250,000 ​ ​ ​ (dollars in thousands) $250,000 or More Total Three months or less ​ $ 232,935 ​ $ 414,462 ​ $ 647,397 Over three through six months ​ ​ 146,206 ​ ​ 210,672 ​ ​ 356,878 Over six through twelve months ​ ​ 372,636 ​ ​ 379,245 ​ ​ 751,881 One to two years ​ ​ 128,248 ​ ​ 82,989 ​ ​ 211,237 Two to three years ​ ​ 80,286 ​ ​ 16,964 ​ ​ 97,250 Three to four years ​ ​ 40,578 ​ ​ 4,881 ​ ​ 45,459 Four to five years ​ ​ 42,510 ​ ​ 21,469 ​ ​ 63,979 Thereafter ​ ​ 510 ​ ​ 250 ​ ​ 760 Total ​ $ 1,043,909 ​ $ 1,130,932 ​ $ 2,174,841

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)3 Months Ended
Mar. 31, 2021
Long-Term Borrowings
Schedule of long-term borrowings​ ​ ​ ​ ​ ​ ​ ​ (dollars in thousands) March 31, 2021 December 31, 2020 Finance lease ​ $ 10 ​ $ 10 FHLB fixed-rate advances (1) ​ ​ 200,000 ​ ​ 200,000 Total long-term borrowings ​ $ 200,010 ​ $ 200,010 (1) Interest is payable monthly.
Schedule of future contractual principal payments on long-term borrowings​ ​ ​ ​ ​ ​ ​ Principal (dollars in thousands) Payments 2021 ​ $ 10 2022 ​ ​ — 2023 (1) ​ ​ 100,000 2024 (2) ​ ​ 100,000 2025 ​ ​ — Total ​ $ 200,010 (1) FHLB fixed-rate advance callable on June 3, 2021 with an interest rate of 2.80% . (2) FHLB fixed-rate advance callable on July 15, 2021 with an interest rate of 2.65% .

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss).
Schedule of changes in accumulated other comprehensive income (loss)​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income ​ ​ ​ ​ ​ ​ ​ ​ Tax ​ ​ ​ ​ ​ Pre-tax ​ Benefit ​ Net of (dollars in thousands) Amount (Expense) Tax Accumulated other comprehensive income at December 31, 2020 ​ $ 43,098 ​ $ (11,494) ​ $ 31,604 Three months ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net losses arising during the period ​ ​ (102,336) ​ ​ 27,297 ​ ​ (75,039) Net change in investment securities ​ ​ (102,336) ​ ​ 27,297 ​ ​ (75,039) Other comprehensive loss ​ ​ (102,336) ​ ​ 27,297 ​ ​ (75,039) Accumulated other comprehensive loss at March 31, 2021 ​ $ (59,238) ​ $ 15,803 ​ $ (43,435) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income ​ ​ ​ ​ ​ ​ ​ ​ Tax ​ ​ ​ ​ ​ Pre-tax ​ Benefit ​ Net of (dollars in thousands) Amount (Expense) Tax Accumulated other comprehensive loss at December 31, 2019 ​ $ (43,450) ​ $ 11,701 ​ $ (31,749) Three months ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and other benefits: ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in Company tax rate ​ ​ — ​ ​ (96) ​ ​ (96) Net change in pension and other benefits ​ ​ — ​ ​ (96) ​ ​ (96) Investment securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized net gains arising during the period ​ ​ 49,164 ​ ​ (13,128) ​ ​ 36,036 Reclassification of net gains to net income: ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment securities gains, net ​ ​ (85) ​ ​ 23 ​ ​ (62) Net change in investment securities ​ ​ 49,079 ​ ​ (13,105) ​ ​ 35,974 Other comprehensive income ​ ​ 49,079 ​ ​ (13,201) ​ ​ 35,878 Accumulated other comprehensive income at March 31, 2020 ​ $ 5,629 ​ $ (1,500) ​ $ 4,129
Summary of changes in accumulated other comprehensive income (loss), net of tax​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pensions ​ ​ ​ Accumulated ​ ​ and ​ ​ ​ Other ​ ​ Other ​ Investment ​ Comprehensive (dollars in thousands) Benefits Securities Income (Loss) Three Months Ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ (31,737) ​ $ 63,341 ​ $ 31,604 Other comprehensive loss ​ ​ — ​ ​ (75,039) ​ ​ (75,039) Balance at end of period ​ $ (31,737) ​ $ (11,698) ​ $ (43,435) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at beginning of period ​ $ (28,082) ​ $ (3,667) ​ $ (31,749) Other comprehensive income ​ ​ (96) ​ ​ 35,974 ​ ​ 35,878 Balance at end of period ​ $ (28,178) ​ $ 32,307 ​ $ 4,129

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)3 Months Ended
Mar. 31, 2021
Regulatory Capital Requirements
Schedule of regulatory capital ratios​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Hawaiian ​ Minimum ​ Well- ​ ​ ​ First Hawaiian, Inc. ​ Bank ​ Capital ​ Capitalized ​ (dollars in thousands) Amount Ratio ​ Amount Ratio ​ Ratio (1) Ratio (1) ​ March 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common equity tier 1 capital to risk-weighted assets ​ $ 1,731,573 ​ 12.82 % $ 1,717,126 ​ 12.71 % 4.50 % 6.50 % Tier 1 capital to risk-weighted assets ​ ​ 1,731,573 ​ 12.82 % ​ 1,717,126 ​ 12.71 % 6.00 % 8.00 % Total capital to risk-weighted assets ​ ​ 1,901,254 ​ 14.07 % ​ 1,886,793 ​ 13.97 % 8.00 % 10.00 % Tier 1 capital to average assets (leverage ratio) ​ ​ 1,731,573 ​ 7.90 % ​ 1,717,126 ​ 7.83 % 4.00 % 5.00 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common equity tier 1 capital to risk-weighted assets ​ $ 1,717,008 ​ 12.47 % $ 1,699,485 ​ 12.34 % 4.50 % 6.50 % Tier 1 capital to risk-weighted assets ​ ​ 1,717,008 ​ 12.47 % ​ 1,699,485 ​ 12.34 % 6.00 % 8.00 % Total capital to risk-weighted assets ​ ​ 1,889,958 ​ 13.73 % ​ 1,872,427 ​ 13.60 % 8.00 % 10.00 % Tier 1 capital to average assets (leverage ratio) ​ ​ 1,717,008 ​ 8.00 % ​ 1,699,485 ​ 7.92 % 4.00 % 5.00 % (1) As defined by the regulations issued by the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation (“FDIC”).

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)3 Months Ended
Mar. 31, 2021
Derivative Financial Instruments
Summary of notional amounts and fair values of derivatives held​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ December 31, 2020 ​ ​ ​ ​ ​ Fair Value ​ ​ ​ ​ Fair Value ​ ​ Notional ​ Asset ​ Liability ​ Notional ​ Asset ​ Liability (dollars in thousands) Amount Derivatives (1) Derivatives (2) Amount Derivatives (1) Derivatives (2) Derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ $ 22,451 ​ $ — ​ $ (1,084) ​ $ 22,451 ​ $ — ​ $ (1,276) Derivatives not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ ​ 3,000,461 ​ ​ 80,126 ​ ​ — ​ ​ 3,002,333 ​ ​ 129,888 ​ ​ — Funding swap ​ ​ 95,799 ​ ​ — ​ ​ (3,382) ​ ​ 92,647 ​ ​ — ​ ​ (4,554) Interest rate caps and floors ​ ​ 148,800 ​ ​ 56 ​ ​ (56) ​ ​ 148,800 ​ ​ 7 ​ ​ (7) Foreign exchange contracts ​ ​ — ​ ​ — ​ ​ — ​ ​ 326 ​ ​ — ​ ​ — (1) The positive fair values of derivative assets are included in other assets. (2) The negative fair values of derivative liabilities are included in other liabilities.
Schedule of net gains and losses recognized in income related to derivatives in fair value hedging relationships​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gains (losses) recognized in ​ Three Months Ended ​ ​ the consolidated statements ​ March 31, (dollars in of income line item 2021 2020 Gains (losses) on fair value hedging relationships recognized in interest income (1) : ​ ​ ​ ​ ​ ​ ​ ​ Recognized on interest rate swap ​ Loans and lease financing ​ $ 193 ​ $ (955) Recognized on hedged item ​ Loans and lease financing ​ ​ (249) ​ ​ 906 ​
Schedule of amounts related to cumulative basis adjustments for fair value hedges​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cumulative Amount of Fair Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hedging Adjustment Included in the ​ ​ Carrying Amount of the Hedged Asset ​ Carrying Amount of the Hedged Asset (dollars in March 31, 2021 December 31, 2020 March 31, 2021 December 31, 2020 Line item in the consolidated balance sheets in which the hedged item is included ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans and leases ​ $ 23,920 ​ $ 24,355 ​ $ 1,239 ​ $ 1,487
Summary of impact on pretax earnings of derivatives not designated as hedges​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net gains (losses) recognized ​ Three Months Ended ​ ​ in the consolidated statements ​ March 31, (dollars in of income line item ​ 2021 2020 Derivatives Not Designated As Hedging Instruments: ​ ​ ​ ​ ​ ​ ​ ​ Interest rate swaps ​ Other noninterest income ​ $ — ​ $ — Funding swap ​ Other noninterest income ​ ​ 26 ​ ​ 6 Foreign exchange contracts ​ Other noninterest income ​ ​ — ​ ​ (52)

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)3 Months Ended
Mar. 31, 2021
Commitments and Contingent Liabilities
Schedule of financial instruments with off-balance sheet risk​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, (dollars in 2021 2020 Financial instruments whose contract amounts represent credit risk: ​ ​ ​ ​ ​ ​ Commitments to extend credit ​ $ 6,067,465 ​ $ 5,934,535 Standby letters of credit ​ ​ 180,909 ​ ​ 185,108 Commercial letters of credit ​ ​ 5,014 ​ ​ 3,834

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)3 Months Ended
Mar. 31, 2021
Revenue from Contracts with Customers
Summary of revenues disaggregated by type of service and business segments​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ Treasury ​ ​ ​ ​ ​ Retail ​ Commercial ​ and ​ ​ ​ (dollars in thousands) Banking Banking Other Total Net interest income (1) ​ $ 100,888 ​ $ 31,832 ​ $ (3,562) ​ $ 129,158 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service charges on deposit accounts ​ ​ 6,086 ​ ​ 223 ​ ​ 409 ​ ​ 6,718 Credit and debit card fees ​ ​ — ​ ​ 12,525 ​ ​ 1,428 ​ ​ 13,953 Other service charges and fees ​ ​ 5,564 ​ ​ 475 ​ ​ 352 ​ ​ 6,391 Trust and investment services income ​ ​ 8,492 ​ ​ — ​ ​ — ​ ​ 8,492 Other ​ ​ 79 ​ ​ 1,496 ​ ​ 336 ​ ​ 1,911 Not in scope of Topic 606 (1) ​ ​ 3,354 ​ ​ 1,322 ​ ​ 1,727 ​ ​ 6,403 Total noninterest income ​ ​ 23,575 ​ ​ 16,041 ​ ​ 4,252 ​ ​ 43,868 Total revenue ​ $ 124,463 ​ $ 47,873 ​ $ 690 ​ $ 173,026 (1) Most of the Company’s revenue is not within the scope of ASU No. 2014-09, Revenue from Contracts with Customers . The guidance explicitly excludes net interest income from financial assets and liabilities as well as other noninterest income from loans, leases, investment securities and derivative financial instruments. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ Treasury ​ ​ ​ ​ ​ Retail ​ Commercial ​ and ​ ​ ​ (dollars in thousands) Banking Banking Other Total Net interest income (1) ​ $ 89,883 ​ $ 34,414 ​ $ 14,386 ​ $ 138,683 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service charges on deposit accounts ​ ​ 8,088 ​ ​ 351 ​ ​ 511 ​ ​ 8,950 Credit and debit card fees ​ ​ — ​ ​ 12,887 ​ ​ 1,599 ​ ​ 14,486 Other service charges and fees ​ ​ 4,875 ​ ​ 424 ​ ​ 516 ​ ​ 5,815 Trust and investment services income ​ ​ 9,591 ​ ​ — ​ ​ — ​ ​ 9,591 Other ​ ​ 185 ​ ​ 1,106 ​ ​ 188 ​ ​ 1,479 Not in scope of Topic 606 (1) ​ ​ 3,637 ​ ​ 3,028 ​ ​ 2,242 ​ ​ 8,907 Total noninterest income ​ ​ 26,376 ​ ​ 17,796 ​ ​ 5,056 ​ ​ 49,228 Total revenue ​ $ 116,259 ​ $ 52,210 ​ $ 19,442 ​ $ 187,911 (1) Most of the Company’s revenue is not within the scope of ASU No. 2014-09, Revenue from Contracts with Customers. The guidance explicitly excludes net interest income from financial assets and liabilities as well as other noninterest income from loans, leases, investment securities and derivative financial instruments.

Earnings per Share (Tables)

Earnings per Share (Tables)3 Months Ended
Mar. 31, 2021
Earnings per Share
Schedule of computations of basic and diluted earnings per share​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, (dollars in 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 57,693 ​ $ 38,865 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Basic: weighted-average shares outstanding ​ ​ 129,933,104 ​ ​ 129,895,706 Add: weighted-average equity-based awards ​ ​ 656,774 ​ ​ 455,879 Diluted: weighted-average shares outstanding ​ ​ 130,589,878 ​ ​ 130,351,585 ​ ​ ​ ​ ​ ​ ​ Basic earnings per share ​ $ 0.44 ​ $ 0.30 Diluted earnings per share ​ $ 0.44 ​ $ 0.30

Noninterest Income and Nonint_2

Noninterest Income and Noninterest Expense (Tables)3 Months Ended
Mar. 31, 2021
Noninterest Income and Noninterest Expense
Schedule of components of net periodic benefit cost​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income line item where recognized in ​ Pension Benefits ​ Other Benefits (dollars in ​ the consolidated statements of income 2021 2020 2021 2020 Three Months Ended March 31, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ Salaries and employee benefits ​ $ — ​ $ — ​ $ 264 ​ $ 189 Interest cost ​ Other noninterest expense ​ ​ 1,231 ​ ​ 1,621 ​ ​ 131 ​ ​ 164 Expected return on plan assets ​ Other noninterest expense ​ ​ (766) ​ ​ (1,194) ​ ​ — ​ ​ — Prior service credit ​ Other noninterest expense ​ ​ — ​ ​ — ​ ​ — ​ ​ (13) Recognized net actuarial loss (gain) ​ Other noninterest expense ​ ​ 1,720 ​ ​ 1,429 ​ ​ — ​ ​ (26) Total net periodic benefit cost ​ ​ ​ $ 2,185 ​ $ 1,856 ​ $ 395 ​ $ 314

Fair Value (Tables)

Fair Value (Tables)3 Months Ended
Mar. 31, 2021
Fair Value
Schedule of assets and liabilities measured at fair value on a recurring basis​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements as of March 31, 2021 ​ ​ Quoted Prices in ​ Significant ​ ​ ​ ​ ​ ​ Active Markets for ​ Other ​ Significant ​ ​ ​ ​ Identical Assets ​ Observable ​ Unobservable ​ ​ (dollars in (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and government agency debt securities ​ $ — ​ $ 175,724 ​ $ — ​ $ 175,724 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government agency (1) ​ ​ — ​ ​ 133,894 ​ ​ — ​ ​ 133,894 Residential - Government-sponsored enterprises (1) ​ ​ — ​ ​ 800,920 ​ ​ — ​ ​ 800,920 Commercial - Government agency ​ ​ — ​ ​ 527,516 ​ ​ — ​ ​ 527,516 Commercial - Government-sponsored enterprises ​ ​ — ​ ​ 1,134,175 ​ ​ — ​ ​ 1,134,175 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ — ​ ​ 1,845,098 ​ ​ — ​ ​ 1,845,098 Government-sponsored enterprises ​ ​ — ​ ​ 2,075,152 ​ ​ — ​ ​ 2,075,152 Total available-for-sale securities ​ ​ — ​ ​ 6,692,479 ​ ​ — ​ ​ 6,692,479 Other assets (2) ​ ​ 12,730 ​ ​ 80,182 ​ ​ — ​ ​ 92,912 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities (3) ​ ​ — ​ ​ (1,140) ​ ​ (3,382) ​ ​ (4,522) Total ​ $ 12,730 ​ $ 6,771,521 ​ $ (3,382) ​ $ 6,780,869 (1) Backed by residential real estate. (2) Other assets classified as Level 1 include mutual funds and money market funds that have quoted prices in active markets and are related to the Company’s deferred compensation plans. Other assets classified as Level 2 include derivative assets. (3) Other liabilities include derivative liabilities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurements as of December 31, 2020 ​ ​ Quoted Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Other ​ Significant ​ ​ ​ ​ Identical Assets ​ Observable ​ Unobservable ​ ​ (dollars in thousands) (Level 1) Inputs (Level 2) Inputs (Level 3) Total Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Treasury and government agency debt securities ​ $ — ​ $ 171,421 ​ $ — ​ $ 171,421 Mortgage-backed securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential - Government agency (1) ​ ​ — ​ ​ 160,462 ​ ​ — ​ ​ 160,462 Residential - Government-sponsored enterprises (1) ​ ​ — ​ ​ 447,200 ​ ​ — ​ ​ 447,200 Commercial - Government agency ​ ​ — ​ ​ 599,650 ​ ​ — ​ ​ 599,650 Commercial - Government-sponsored enterprises ​ ​ — ​ ​ 932,157 ​ ​ — ​ ​ 932,157 Collateralized mortgage obligations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Government agency ​ ​ — ​ ​ 1,933,553 ​ ​ — ​ ​ 1,933,553 Government-sponsored enterprises ​ ​ — ​ ​ 1,826,972 ​ ​ — ​ ​ 1,826,972 Total available-for-sale securities ​ ​ — ​ ​ 6,071,415 ​ ​ — ​ ​ 6,071,415 Other assets (2) ​ ​ 11,691 ​ ​ 129,895 ​ ​ — ​ ​ 141,586 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other liabilities (3) ​ ​ — ​ ​ (1,283) ​ ​ (4,554) ​ ​ (5,837) Total ​ $ 11,691 ​ $ 6,200,027 ​ $ (4,554) ​ $ 6,207,164 (1) Backed by residential real estate. (2) Other assets classified as Level 1 include mutual funds and money market funds that have quoted prices in active markets and are related to the Company’s deferred compensation plans. Other assets classified as Level 2 include derivative assets. (3) Other liabilities include derivative liabilities. ​
Summary of changes in Level 3 liabilities measured at fair value on a recurring basis​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Visa Derivative (dollars in ​ 2021 2020 Three Months Ended March 31, ​ ​ ​ ​ ​ ​ Balance as of January 1, ​ $ (4,554) ​ $ (4,233) Total net gains included in other noninterest income ​ ​ 26 ​ ​ 6 Settlements ​ ​ 1,146 ​ ​ 1,028 Balance as of March 31, ​ $ (3,382) ​ $ (3,199) Total net gains included in net income attributable to the change in unrealized gains or losses related to liabilities still held as of March 31, ​ $ 26 ​ $ 6
Summary of estimated fair value of financial instruments not required to be carried at fair value on a recurring basis​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2021 ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ ​ ​ ​ Quoted Prices in ​ Significant ​ Significant ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Unobservable ​ ​ ​ ​ ​ ​ ​ for Identical ​ Observable ​ Inputs ​ ​ (dollars in thousands) Book Value Assets (Level 1) Inputs (Level 2) (Level 3) Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,262,810 ​ $ 278,994 ​ $ 983,816 ​ $ — ​ $ 1,262,810 Loans held for sale ​ ​ 9,390 ​ ​ — ​ ​ 9,893 ​ ​ — ​ ​ 9,893 Loans (1) ​ ​ 13,062,141 ​ ​ — ​ ​ — ​ ​ 13,186,769 ​ ​ 13,186,769 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits (2) ​ $ 2,174,841 ​ $ — ​ $ 2,179,865 ​ $ — ​ $ 2,179,865 Long-term borrowings (3) ​ ​ 200,000 ​ ​ — ​ ​ 211,903 ​ ​ — ​ ​ 211,903 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ Fair Value Measurements ​ ​ ​ ​ ​ Quoted Prices in ​ Significant ​ Significant ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Unobservable ​ ​ ​ ​ ​ ​ ​ for Identical ​ Observable ​ Inputs ​ ​ (dollars in thousands) Book Value Assets (Level 1) Inputs (Level 2) (Level 3) Total Financial assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,040,944 ​ $ 303,373 ​ $ 737,571 ​ $ — ​ $ 1,040,944 Loans held for sale ​ ​ 11,579 ​ ​ — ​ ​ 12,018 ​ ​ — ​ ​ 12,018 Loans (1) ​ ​ 13,033,686 ​ ​ — ​ ​ — ​ ​ 13,255,636 ​ ​ 13,255,636 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time deposits (2) ​ $ 2,348,298 ​ $ — ​ $ 2,357,137 ​ $ — ​ $ 2,357,137 Long-term borrowings (3) ​ ​ 200,000 ​ ​ — ​ ​ 214,167 ​ ​ — ​ ​ 214,167 (1) Excludes financing leases of $238.1 million at March 31, 2021 and $245.4 million at December 31, 2020. (2) Excludes deposit liabilities with no defined or contractual maturity of $18.0 billion as of March 31, 2021 and $16.9 billion as of December 31, 2020. (3) Excludes capital lease obligations of $10 thousand as of both March 31, 2021 and December 31, 2020. ​
Schedule of assets with fair value adjustments on a nonrecurring basis​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (dollars Level 1 Level 2 Level 3 March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral-dependent loans ​ $ — ​ $ — ​ $ — December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Collateral-dependent loans ​ $ — ​ $ — ​ $ 1,840
Significant unobservable inputs used in fair value measurements for Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements at March 31, 2021 ​ ​ ​ ​ ​ ​ ​ Significant ​ ​ (dollars in thousands) ​ Fair value Valuation Technique Unobservable Input Range Visa derivative ​ $ (3,382) ​ Discounted Cash Flow ​ Expected Conversation Rate - 1.6228 (2) ​ 1.5977 - 1.6228 ​ ​ ​ ​ ​ ​ ​ Expected Term - 1 year (3) ​ 0.5 to 1.5 years ​ ​ ​ ​ ​ ​ ​ Growth Rate - 13 % (4) ​ 4 % - 17 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements at December 31, 2020 ​ ​ ​ ​ ​ ​ ​ Significant ​ ​ (dollars in thousands) ​ Fair value Valuation Technique Unobservable Input Range Collateral-dependent loans ​ $ 1,840 ​ Appraisal Value ​ Appraisal Value ​ n/m (1) Visa derivative ​ $ (4,554) ​ Discounted Cash Flow ​ Expected Conversation Rate - 1.6228 (2) ​ 1.5977-1.6228 ​ ​ ​ ​ ​ ​ ​ Expected Term - 1 year (3) ​ 0.5 to 1.5 years ​ ​ ​ ​ ​ ​ ​ Growth Rate - 13% (4) ​ 4% - 17% (1) The fair value of these assets is determined based on appraised values of the collateral or broker opinions, the range of which is not meaningful to disclose. (2) Due to the uncertainty in the movement of the conversion rate, the current conversion rate was utilized in the fair value calculation. (3) The expected term of 1 year was based on the median of 0.5 to 1.5 years. (4) The growth rate of 13 % was based on the arithmetic average of analyst price targets.

Reportable Operating Segments (

Reportable Operating Segments (Tables)3 Months Ended
Mar. 31, 2021
Reportable Operating Segments
Schedule of selected business segment financial information​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury ​ ​ ​ ​ ​ Retail ​ Commercial ​ and ​ ​ ​ (dollars in thousands) Banking Banking Other Total Three Months Ended March 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income (expense) ​ $ 100,888 ​ $ 31,832 ​ $ (3,562) ​ $ 129,158 Benefit (Provision) for credit losses ​ ​ 1,470 ​ ​ 2,030 ​ ​ (3,500) ​ ​ — Net interest income (loss) after provision for credit losses ​ ​ 102,358 ​ ​ 33,862 ​ ​ (7,062) ​ ​ 129,158 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest income ​ ​ 23,575 ​ ​ 16,041 ​ ​ 4,252 ​ ​ 43,868 Noninterest expense ​ ​ (63,794) ​ ​ (21,573) ​ ​ (10,939) ​ ​ (96,306) Income (loss) before (provision) benefit for income taxes ​ ​ 62,139 ​ ​ 28,330 ​ ​ (13,749) ​ ​ 76,720 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (Provision) benefit for income taxes ​ ​ (15,502) ​ ​ (6,968) ​ ​ 3,443 ​ ​ (19,027) Net income (loss) ​ $ 46,637 ​ $ 21,362 ​ $ (10,306) ​ $ 57,693 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury ​ ​ ​ ​ ​ Retail ​ Commercial ​ and ​ ​ ​ (dollars in thousands) Banking Banking Other Total Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net interest income ​ $ 89,883 ​ $ 34,414 ​ $ 14,386 ​ $ 138,683 Provision for credit losses ​ ​ (20,065) ​ ​ (20,784) ​ ​ (351) ​ ​ (41,200) Net interest income after provision for credit losses ​ ​ 69,818 ​ ​ 13,630 ​ ​ 14,035 ​ ​ 97,483 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Noninterest income ​ ​ 26,376 ​ ​ 17,796 ​ ​ 5,056 ​ ​ 49,228 Noninterest expense ​ ​ (61,644) ​ ​ (21,505) ​ ​ (13,317) ​ ​ (96,466) Income before provision for income taxes ​ ​ 34,550 ​ ​ 9,921 ​ ​ 5,774 ​ ​ 50,245 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision for income taxes ​ ​ (7,523) ​ ​ (2,645) ​ ​ (1,212) ​ ​ (11,380) Net income ​ $ 27,027 ​ $ 7,276 ​ $ 4,562 ​ $ 38,865

Organization and Basis of Pre_3

Organization and Basis of Presentation - Basis of Presentation (Details)Mar. 31, 2021
First Hawaiian, Inc. (FHI)
Capitalization
Outstanding common stock owned (as a percent)100.00%

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Available for sale debt securities
Amortized Cost $ 6,708,431 $ 5,985,031
Unrealized Gains70,480 97,114
Unrealized Losses(86,432)(10,730)
Fair value6,692,479 6,071,415
Available-for-sale investment securities
Accrued interest receivable, available-for-sale investments11,300 10,600
U.S. Treasury and government agency debt securities
Available for sale debt securities
Amortized Cost177,745 170,123
Unrealized Gains447 1,359
Unrealized Losses(2,468)(61)
Fair value175,724 171,421
Residential - Government agency
Available for sale debt securities
Amortized Cost129,908 155,169
Unrealized Gains3,986 5,293
Fair value133,894 160,462
Residential - Government-sponsored enterprises
Available for sale debt securities
Amortized Cost797,426 434,282
Unrealized Gains10,867 13,643
Unrealized Losses(7,373)(725)
Fair value800,920 447,200
Commercial - Government agency
Available for sale debt securities
Amortized Cost523,293 583,232
Unrealized Gains8,068 16,537
Unrealized Losses(3,845)(119)
Fair value527,516 599,650
Commercial - Government-sponsored enterprises
Available for sale debt securities
Amortized Cost1,180,034 931,095
Unrealized Gains1,676 9,045
Unrealized Losses(47,535)(7,983)
Fair value1,134,175 932,157
Government agency
Available for sale debt securities
Amortized Cost1,818,181 1,902,326
Unrealized Gains29,899 32,246
Unrealized Losses(2,982)(1,019)
Fair value1,845,098 1,933,553
Government-sponsored enterprises
Available for sale debt securities
Amortized Cost2,081,844 1,808,804
Unrealized Gains15,537 18,991
Unrealized Losses(22,229)(823)
Fair value $ 2,075,152 $ 1,826,972

Investment Securities - Proceed

Investment Securities - Proceeds from Calls and Sales, Realized Gains and Losses and Interest Income Narrative (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Proceeds from calls and sales of investment securities
Proceeds from calls of available for sale securities $ 0.1 $ 75
Proceeds from sales of available for sale securities 3.5
Debt Securities, Available-for-sale, Realized Gain (Loss) [Abstract]
Gross realized gains on sales of investment securities0 0.1
Gross realized losses on sales of investment securities0 0
Income tax benefit related to net realized loss on sale of investment securities0
Income tax expense related to net realized gains on sale of investment securities0
Interest income from taxable and nontaxable investment securities
Taxable interest income22.1 21.2
Non-taxable interest income $ 1 $ 0

Investment Securities - Amort_2

Investment Securities - Amortized Cost and Fair Value, by Contractual Maturity (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Amortized Cost
Due after one year through five years $ 41,513
Due after five years through ten years83,988
Due after ten years52,244
Total contractual maturities177,745
Amortized Cost6,708,431 $ 5,985,031
Fair Value
Due after one year through five years41,878
Due after five years through ten years83,461
Due after ten years50,385
Total contractual maturities175,724
Fair value6,692,479 6,071,415
Mortgage-backed securities:
Amortized Cost
Mortgaged-backed securities and collateralized mortgage obligations2,630,661
Fair Value
Mortgaged-backed securities and collateralized mortgage obligations2,596,505
Residential - Government agency
Amortized Cost
Mortgaged-backed securities and collateralized mortgage obligations129,908
Amortized Cost129,908 155,169
Fair Value
Mortgaged-backed securities and collateralized mortgage obligations133,894
Fair value133,894 160,462
Residential - Government-sponsored enterprises
Amortized Cost
Mortgaged-backed securities and collateralized mortgage obligations797,426
Amortized Cost797,426 434,282
Fair Value
Mortgaged-backed securities and collateralized mortgage obligations800,920
Fair value800,920 447,200
Commercial - Government agency
Amortized Cost
Mortgaged-backed securities and collateralized mortgage obligations523,293
Amortized Cost523,293 583,232
Fair Value
Mortgaged-backed securities and collateralized mortgage obligations527,516
Fair value527,516 599,650
Commercial - Government-sponsored enterprises
Amortized Cost
Mortgaged-backed securities and collateralized mortgage obligations1,180,034
Amortized Cost1,180,034 931,095
Fair Value
Mortgaged-backed securities and collateralized mortgage obligations1,134,175
Fair value1,134,175 932,157
Collateralized mortgage obligations
Amortized Cost
Mortgaged-backed securities and collateralized mortgage obligations3,900,025
Fair Value
Mortgaged-backed securities and collateralized mortgage obligations3,920,250
Government agency
Amortized Cost
Mortgaged-backed securities and collateralized mortgage obligations1,818,181
Amortized Cost1,818,181 1,902,326
Fair Value
Mortgaged-backed securities and collateralized mortgage obligations1,845,098
Fair value1,845,098 1,933,553
Government-sponsored enterprises
Amortized Cost
Mortgaged-backed securities and collateralized mortgage obligations2,081,844
Amortized Cost2,081,844 1,808,804
Fair Value
Mortgaged-backed securities and collateralized mortgage obligations2,075,152
Fair value $ 2,075,152 $ 1,826,972

Investment Securities - Pledged

Investment Securities - Pledged Securities and Concentration Narrative (Details) - USD ($)3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Pledged securities
Total pledged securities $ 2,600,000,000 $ 2,400,000,000
Securities pledged to secure public deposits2,418,838,000 2,251,508,000
Securities pledged to secure other financial transactions184,200,000 186,100,000
Concentration of risk
Credit losses recognized on securities0 0
Non-government issuer
Concentration of risk
Securities of issuers in excess of 10% of stockholders' equity $ 0 $ 0

Investment Securities - Unreali

Investment Securities - Unrealized Gross Losses and Fair Values of Securities in a Continuous Loss Position (Details) $ in ThousandsMar. 31, 2021USD ($)securityDec. 31, 2020USD ($)security
Securities in the available-for-sale portfolio in a continuous loss position
Number of individual securities in a continuous loss position | security145 50
Time in Continuous Loss, Unrealized Losses
Less Than 12 Months Unrealized Losses $ (86,424) $ (10,705)
12 Months or More Unrealized Losses(8)(25)
Total Unrealized Losses(86,432)(10,730)
Time in Continuous Loss, Fair Value
Less Than 12 Months, Fair Value3,187,382 1,068,883
12 Months or More Fair Value5,020 6,190
Total Fair Value3,192,402 1,075,073
U.S. Treasury and government agency debt securities
Time in Continuous Loss, Unrealized Losses
Less Than 12 Months Unrealized Losses(2,468)(61)
Total Unrealized Losses(2,468)(61)
Time in Continuous Loss, Fair Value
Less Than 12 Months, Fair Value121,457 38,507
Total Fair Value121,457 38,507
Residential - Government-sponsored enterprises
Time in Continuous Loss, Unrealized Losses
Less Than 12 Months Unrealized Losses(7,373)(725)
Total Unrealized Losses(7,373)(725)
Time in Continuous Loss, Fair Value
Less Than 12 Months, Fair Value511,463 64,987
Total Fair Value511,463 64,987
Commercial - Government agency
Time in Continuous Loss, Unrealized Losses
Less Than 12 Months Unrealized Losses(3,845)(119)
Total Unrealized Losses(3,845)(119)
Time in Continuous Loss, Fair Value
Less Than 12 Months, Fair Value248,776 32,346
Total Fair Value248,776 32,346
Commercial - Government-sponsored enterprises
Time in Continuous Loss, Unrealized Losses
Less Than 12 Months Unrealized Losses(47,535)(7,983)
Total Unrealized Losses(47,535)(7,983)
Time in Continuous Loss, Fair Value
Less Than 12 Months, Fair Value898,725 427,759
Total Fair Value898,725 427,759
Government agency
Time in Continuous Loss, Unrealized Losses
Less Than 12 Months Unrealized Losses(2,974)(994)
12 Months or More Unrealized Losses(8)(25)
Total Unrealized Losses(2,982)(1,019)
Time in Continuous Loss, Fair Value
Less Than 12 Months, Fair Value370,875 209,124
12 Months or More Fair Value5,020 6,190
Total Fair Value375,895 215,314
Government-sponsored enterprises
Time in Continuous Loss, Unrealized Losses
Less Than 12 Months Unrealized Losses(22,229)(823)
Total Unrealized Losses(22,229)(823)
Time in Continuous Loss, Fair Value
Less Than 12 Months, Fair Value1,036,086 296,160
Total Fair Value $ 1,036,086 $ 296,160

Investment Securities - Visa Cl

Investment Securities - Visa Class B Restricted Shares (Details) $ in Thousands12 Months Ended
Dec. 31, 2016USD ($)sharesDec. 31, 2008USD ($)sharesMar. 31, 2021USD ($)sharesDec. 31, 2020USD ($)sharesOct. 31, 2019USD ($)Sep. 30, 2019Sep. 27, 2019Jul. 31, 2018USD ($)Jul. 05, 2018Jun. 28, 2018Dec. 31, 2017
Visa | Class B restricted shares
Visa Class B Restricted Shares
Historical cost included in the balance sheets $ 0
Net realized gain related to the sale of stock $ 22,700
Number of shares sold | shares274,000
Estimated amount that was subsequently paid to the buyer $ 300
Shares held | shares120,000 120,000
Cost basis $ 0 $ 0
Funding Swap (Visa Derivative) | Class B restricted shares
Visa Class B Restricted Shares
Conversion rate1.6228 1.6228 1.6298 1.6298 1.6483
Funding Swap (Visa Derivative) | Visa
Visa Class B Restricted Shares
Estimated amount that was subsequently paid to the buyer $ 300 $ 700
Visa | Class B restricted shares
Visa Class B Restricted Shares
Stock received in initial public offering (in shares) | shares394,000

Loans and Leases - Components (

Loans and Leases - Components (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Loans and leases
Total Loans and Leases $ 13,300,289 $ 13,279,097
Outstanding loan balances, deferred loan costs and fees16,800 26,100
Accrued interest receivable related to loans and leases recorded separately58,600 59,000
Residential real estate loans pledged to collateralize the borrowing capacity at the FHLB2,900,000 2,900,000
Consumer, commercial and industrial, commercial real estate and residential real estate loans pledged to collateralize the borrowing capacity at the FRB1,900,000 1,900,000
Real estate
Loans and leases
Total Loans and Leases4,521,422 4,531,842
Commercial and Industrial
Loans and leases
Total Loans and Leases3,121,436 3,019,507
Commercial and Industrial | Real estate
Loans and leases
Total Loans and Leases3,121,436 3,019,507
Commercial real estate
Loans and leases
Total Loans and Leases3,396,233 3,392,676
Commercial real estate | Real estate
Loans and leases
Total Loans and Leases3,396,233 3,392,676
Construction
Loans and leases
Total Loans and Leases739,271 735,819
Construction | Real estate
Loans and leases
Total Loans and Leases739,271 735,819
Residential
Loans and leases
Properties in the process of foreclosure2,800 2,300
Residential | Real estate
Loans and leases
Total Loans and Leases3,715,676 3,690,218
Consumer | Real estate
Loans and leases
Total Loans and Leases1,283,779 1,353,842
Lease financing
Loans and leases
Total Loans and Leases238,148 245,411
Home equity line | Real estate
Loans and leases
Total Loans and Leases805,746 841,624
Residential mortgage | Residential
Loans and leases
Total Loans and Leases3,715,676 3,690,218
Home equity | Home equity Line
Loans and leases
Total Loans and Leases $ 805,746 $ 841,624

Allowance for Credit Losses - A

Allowance for Credit Losses - Activity (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Allowance for loan and lease losses:
Balance at beginning of period $ 208,454 $ 130,530
Charge-offs(8,806)
Recoveries2,670
Increase (decrease) in Provision40,849
Balance at end of period200,366 166,013
Commercial Lending
Allowance for loan and lease losses:
Balance at beginning of period4,844
Recoveries110
Increase (decrease) in Provision5,673
Balance at end of period8,824
Commercial and Industrial
Allowance for loan and lease losses:
Balance at beginning of period24,711 28,975
Charge-offs(963)(201)
Recoveries215 220
Increase (decrease) in Provision3,359 7,995
Balance at end of period27,322 20,884
Commercial real estate
Allowance for loan and lease losses:
Balance at beginning of period58,123 22,325
Charge-offs(66)
Recoveries3
Increase (decrease) in Provision(6,369)9,954
Balance at end of period51,691 42,838
Construction
Allowance for loan and lease losses:
Balance at beginning of period10,039
Recoveries166
Increase (decrease) in Provision347
Balance at end of period10,552
Lease financing
Allowance for loan and lease losses:
Balance at beginning of period3,298 424
Increase (decrease) in Provision(101)220
Balance at end of period3,197 851
Consumer
Allowance for loan and lease losses:
Balance at beginning of period64,659 34,644
Charge-offs(6,541)(8,597)
Recoveries2,655 2,083
Increase (decrease) in Provision1,692 12,334
Balance at end of period62,465 56,039
Unallocated
Allowance for loan and lease losses:
Balance at beginning of period208,454 139
Charge-offs(7,668)
Recoveries3,080
Increase (decrease) in Provision(3,500)
Balance at end of period200,366
Residential mortgage
Allowance for loan and lease losses:
Balance at beginning of period40,461 29,303
Charge-offs(98)
Recoveries17 135
Increase (decrease) in Provision(1,909)3,376
Balance at end of period38,471 30,021
Home equity
Allowance for loan and lease losses:
Balance at beginning of period7,163 9,876
Charge-offs(8)
Recoveries24 122
Increase (decrease) in Provision(519)1,297
Balance at end of period $ 6,668 6,556
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment
Allowance for loan and lease losses:
Balance at beginning of period770
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Commercial Lending
Allowance for loan and lease losses:
Balance at beginning of period(1,803)
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Commercial and Industrial
Allowance for loan and lease losses:
Balance at beginning of period(16,105)
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Commercial real estate
Allowance for loan and lease losses:
Balance at beginning of period10,559
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Lease financing
Allowance for loan and lease losses:
Balance at beginning of period207
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Consumer
Allowance for loan and lease losses:
Balance at beginning of period15,575
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Unallocated
Allowance for loan and lease losses:
Balance at beginning of period(139)
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Residential mortgage
Allowance for loan and lease losses:
Balance at beginning of period(2,793)
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Home equity
Allowance for loan and lease losses:
Balance at beginning of period $ (4,731)

Allowance for Credit Losses - R

Allowance for Credit Losses - Reserve for Unfunded Commitments (Details) - Reserve for unfunded commitments - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance $ 30,603 $ 600
Increase (decrease) in Provision3,500 351
Reserve for unfunded commitments, ending balance34,103 17,251
Commercial and Industrial
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance11,719
Increase (decrease) in Provision4,410 (599)
Reserve for unfunded commitments, ending balance16,129 4,791
Commercial real estate
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance1,328
Increase (decrease) in Provision(216)(82)
Reserve for unfunded commitments, ending balance1,112 696
Construction
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance9,037
Increase (decrease) in Provision(724)694
Reserve for unfunded commitments, ending balance8,313 4,813
Residential mortgage
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance2
Increase (decrease) in Provision(2)(6)
Reserve for unfunded commitments, ending balance1
Home equity
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance8,452
Increase (decrease) in Provision48 340
Reserve for unfunded commitments, ending balance8,500 6,927
Consumer
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance65 600
Increase (decrease) in Provision(16)4
Reserve for unfunded commitments, ending balance $ 49 23
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance16,300
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Commercial and Industrial
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance5,390
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Commercial real estate
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance778
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Construction
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance4,119
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Residential mortgage
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance7
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Home equity
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance6,587
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments | Cumulative-effect adjustment | Consumer
Reserve for unfunded commitments:
Reserve for unfunded commitments, beginning balance $ (581)

Allowance for Credit Losses -_2

Allowance for Credit Losses - Amortized Cost Basis by Year of Origination and Credit Quality Indicator (Details) - USD ($)Mar. 31, 2021Dec. 31, 2020
Credit quality
2020/2021 $ 2,543,705,000
2019/20202,120,213,000
2018/20191,644,201,000
2017/20181,291,172,000
2016/2017882,520,000
Prior2,236,923,000
Revolving Loans Amortized Cost Basis2,516,240,000
Revolving Loans Converted to Term Loans Amortized Cost Basis44,123,000
Total amortized cost basis13,279,097,000
Total Loans and Leases $ 13,300,289,000 13,279,097,000
Loss
Credit quality
Total Loans and Leases0 0
Residential mortgage
Credit quality
2020/2021316,858,000 864,559,000
2019/2020829,791,000 482,495,000
2018/2019448,613,000 389,725,000
2017/2018352,645,000 471,962,000
2016/2017424,171,000 391,156,000
Prior1,342,856,000 1,089,580,000
Revolving Loans Amortized Cost Basis580,000 578,000
Revolving Loans Converted to Term Loans Amortized Cost Basis162,000 163,000
Total amortized cost basis3,715,676,000 3,690,218,000
Residential mortgage | 740 and greater
Credit quality
2020/2021269,847,000 728,807,000
2019/2020698,143,000 384,248,000
2018/2019355,459,000 290,484,000
2017/2018261,304,000 361,297,000
2016/2017320,423,000 314,971,000
Prior1,031,922,000 830,795,000
Total amortized cost basis2,937,098,000 2,910,602,000
Residential mortgage | 680 - 739
Credit quality
2020/202132,425,000 85,151,000
2019/202083,210,000 53,090,000
2018/201951,384,000 44,616,000
2017/201841,764,000 50,703,000
2016/201748,039,000 39,230,000
Prior168,279,000 144,537,000
Total amortized cost basis425,101,000 417,327,000
Residential mortgage | 620 - 679
Credit quality
2020/20214,220,000 15,767,000
2019/202015,727,000 7,604,000
2018/20197,626,000 11,460,000
2017/201811,214,000 9,628,000
2016/20179,310,000 7,982,000
Prior49,018,000 43,393,000
Total amortized cost basis97,115,000 95,834,000
Residential mortgage | 550 - 619
Credit quality
2019/20201,971,000
2018/20191,945,000 2,818,000
2017/20182,810,000 2,920,000
2016/20172,906,000 4,474,000
Prior14,044,000 10,144,000
Total amortized cost basis21,705,000 22,327,000
Residential mortgage | Less than 550
Credit quality
2019/2020861,000
2018/2019854,000 593,000
2017/2018602,000 2,916,000
2016/20172,914,000 594,000
Prior2,673,000 2,138,000
Total amortized cost basis7,043,000 7,102,000
Residential mortgage | No Score
Credit quality
2020/20214,599,000 13,823,000
2019/202012,498,000 18,861,000
2018/201917,761,000 21,214,000
2017/201821,197,000 21,821,000
2016/201719,972,000 14,355,000
Prior55,404,000 45,147,000
Total amortized cost basis131,431,000 135,221,000
Residential mortgage | Other
Credit quality
2020/20215,767,000 21,011,000
2019/202020,213,000 15,860,000
2018/201913,584,000 18,540,000
2017/201813,754,000 22,677,000
2016/201720,607,000 9,550,000
Prior21,516,000 13,426,000
Revolving Loans Amortized Cost Basis580,000 578,000
Revolving Loans Converted to Term Loans Amortized Cost Basis162,000 163,000
Total amortized cost basis96,183,000 101,805,000
Home equity
Credit quality
Revolving Loans Amortized Cost Basis833,521,000
Revolving Loans Converted to Term Loans Amortized Cost Basis8,103,000
Total amortized cost basis841,624,000
Home equity | 740 and greater
Credit quality
Revolving Loans Amortized Cost Basis608,282,000
Revolving Loans Converted to Term Loans Amortized Cost Basis2,163,000
Total amortized cost basis610,445,000
Home equity | 680 - 739
Credit quality
Revolving Loans Amortized Cost Basis159,886,000
Revolving Loans Converted to Term Loans Amortized Cost Basis3,155,000
Total amortized cost basis163,041,000
Home equity | 620 - 679
Credit quality
Revolving Loans Amortized Cost Basis44,005,000
Revolving Loans Converted to Term Loans Amortized Cost Basis1,571,000
Total amortized cost basis45,576,000
Home equity | 550 - 619
Credit quality
Revolving Loans Amortized Cost Basis11,644,000
Revolving Loans Converted to Term Loans Amortized Cost Basis884,000
Total amortized cost basis12,528,000
Home equity | Less than 550
Credit quality
Revolving Loans Amortized Cost Basis5,159,000
Revolving Loans Converted to Term Loans Amortized Cost Basis330,000
Total amortized cost basis5,489,000
Home equity | No Score
Credit quality
Revolving Loans Amortized Cost Basis4,545,000
Total amortized cost basis4,545,000
Consumer loans
Credit quality
2020/2021250,019,000
2019/2020295,128,000
2018/2019226,757,000
2017/2018139,788,000
2016/201762,534,000
Prior25,576,000
Revolving Loans Amortized Cost Basis349,158,000
Revolving Loans Converted to Term Loans Amortized Cost Basis4,882,000
Total amortized cost basis1,353,842,000
Consumer loans | 740 and greater
Credit quality
2020/2021113,373,000
2019/2020122,965,000
2018/201999,678,000
2017/201854,691,000
2016/201724,029,000
Prior6,034,000
Revolving Loans Amortized Cost Basis114,748,000
Revolving Loans Converted to Term Loans Amortized Cost Basis275,000
Total amortized cost basis535,793,000
Consumer loans | 680 - 739
Credit quality
2020/202183,316,000
2019/202090,853,000
2018/201966,143,000
2017/201836,426,000
2016/201716,358,000
Prior4,985,000
Revolving Loans Amortized Cost Basis76,391,000
Revolving Loans Converted to Term Loans Amortized Cost Basis773,000
Total amortized cost basis375,245,000
Consumer loans | 620 - 679
Credit quality
2020/202140,469,000
2019/202048,904,000
2018/201933,917,000
2017/201824,705,000
2016/201711,144,000
Prior3,788,000
Revolving Loans Amortized Cost Basis36,622,000
Revolving Loans Converted to Term Loans Amortized Cost Basis1,221,000
Total amortized cost basis200,770,000
Consumer loans | 550 - 619
Credit quality
2020/20219,125,000
2019/202020,274,000
2018/201917,693,000
2017/201815,126,000
2016/20177,825,000
Prior2,883,000
Revolving Loans Amortized Cost Basis12,980,000
Revolving Loans Converted to Term Loans Amortized Cost Basis1,458,000
Total amortized cost basis87,364,000
Consumer loans | Less than 550
Credit quality
2020/20213,017,000
2019/202010,139,000
2018/20199,189,000
2017/20186,517,000
2016/20173,123,000
Prior1,118,000
Revolving Loans Amortized Cost Basis5,261,000
Revolving Loans Converted to Term Loans Amortized Cost Basis799,000
Total amortized cost basis39,163,000
Consumer loans | No Score
Credit quality
2020/2021339,000
2019/2020103,000
2018/201964,000
2017/2018109,000
2016/201710,000
Revolving Loans Amortized Cost Basis33,854,000
Revolving Loans Converted to Term Loans Amortized Cost Basis356,000
Total amortized cost basis34,835,000
Consumer loans | Other
Credit quality
2020/2021380,000
2019/20201,890,000
2018/201973,000
2017/20182,214,000
2016/201745,000
Prior6,768,000
Revolving Loans Amortized Cost Basis69,302,000
Total amortized cost basis80,672,000
Residential and consumer
Credit quality
2020/2021966,378,000
2019/20202,412,170,000
2018/20192,059,534,000
2017/20181,517,679,000
2016/20171,177,821,000
Prior2,985,754,000
Revolving Loans Amortized Cost Basis2,137,285,000
Revolving Loans Converted to Term Loans Amortized Cost Basis43,668,000
Total amortized cost basis13,300,289,000
Residential
Credit quality
2020/2021316,858,000 864,559,000
2019/2020829,791,000 482,495,000
2018/2019448,613,000 389,725,000
2017/2018352,645,000 471,962,000
2016/2017424,171,000 391,156,000
Prior1,342,856,000 1,089,580,000
Revolving Loans Amortized Cost Basis797,471,000 834,099,000
Revolving Loans Converted to Term Loans Amortized Cost Basis9,017,000 8,266,000
Total amortized cost basis4,521,422,000 4,531,842,000
Residential | Residential mortgage
Credit quality
Total Loans and Leases3,715,676,000 3,690,218,000
Home equity Line | Home equity
Credit quality
Total Loans and Leases805,746,000 841,624,000
Consumer
Credit quality
2020/202163,748,000
2019/2020234,853,000
2018/2019265,636,000
2017/2018197,986,000
2016/2017118,703,000
Prior68,820,000
Revolving Loans Amortized Cost Basis329,286,000
Revolving Loans Converted to Term Loans Amortized Cost Basis4,747,000
Total amortized cost basis1,283,779,000
Consumer | 740 and greater
Credit quality
2020/202137,038,000
2019/2020105,809,000
2018/2019109,925,000
2017/201886,146,000
2016/201744,909,000
Prior22,098,000
Revolving Loans Amortized Cost Basis107,725,000
Revolving Loans Converted to Term Loans Amortized Cost Basis266,000
Total amortized cost basis513,916,000
Consumer | 680 - 739
Credit quality
2020/202119,163,000
2019/202079,376,000
2018/201982,058,000
2017/201858,077,000
2016/201731,081,000
Prior16,370,000
Revolving Loans Amortized Cost Basis72,053,000
Revolving Loans Converted to Term Loans Amortized Cost Basis774,000
Total amortized cost basis358,952,000
Consumer | 620 - 679
Credit quality
2020/20216,167,000
2019/202038,079,000
2018/201944,459,000
2017/201830,055,000
2016/201721,453,000
Prior11,715,000
Revolving Loans Amortized Cost Basis33,935,000
Revolving Loans Converted to Term Loans Amortized Cost Basis1,213,000
Total amortized cost basis187,076,000
Consumer | 550 - 619
Credit quality
2020/2021337,000
2019/20208,215,000
2018/201918,414,000
2017/201815,800,000
2016/201713,267,000
Prior8,437,000
Revolving Loans Amortized Cost Basis11,582,000
Revolving Loans Converted to Term Loans Amortized Cost Basis1,364,000
Total amortized cost basis77,416,000
Consumer | Less than 550
Credit quality
2020/202188,000
2019/20202,644,000
2018/20198,907,000
2017/20187,785,000
2016/20175,711,000
Prior3,445,000
Revolving Loans Amortized Cost Basis4,181,000
Revolving Loans Converted to Term Loans Amortized Cost Basis719,000
Total amortized cost basis33,480,000
Consumer | No Score
Credit quality
2020/2021955,000
2019/2020354,000
2018/201999,000
2017/201857,000
2016/201799,000
Prior7,000
Revolving Loans Amortized Cost Basis32,161,000
Revolving Loans Converted to Term Loans Amortized Cost Basis411,000
Total amortized cost basis34,143,000
Consumer | Other
Credit quality
2019/2020376,000
2018/20191,774,000
2017/201866,000
2016/20172,183,000
Prior6,748,000
Revolving Loans Amortized Cost Basis67,649,000
Total amortized cost basis78,796,000
Consumer | Consumer loans
Credit quality
Total Loans and Leases1,283,779,000 1,353,842,000
Home equity line
Credit quality
Revolving Loans Amortized Cost Basis796,891,000
Revolving Loans Converted to Term Loans Amortized Cost Basis8,855,000
Total amortized cost basis805,746,000
Home equity line | 740 and greater
Credit quality
Revolving Loans Amortized Cost Basis589,662,000
Revolving Loans Converted to Term Loans Amortized Cost Basis2,108,000
Total amortized cost basis591,770,000
Home equity line | 680 - 739
Credit quality
Revolving Loans Amortized Cost Basis149,384,000
Revolving Loans Converted to Term Loans Amortized Cost Basis3,537,000
Total amortized cost basis152,921,000
Home equity line | 620 - 679
Credit quality
Revolving Loans Amortized Cost Basis37,325,000
Revolving Loans Converted to Term Loans Amortized Cost Basis1,432,000
Total amortized cost basis38,757,000
Home equity line | 550 - 619
Credit quality
Revolving Loans Amortized Cost Basis12,870,000
Revolving Loans Converted to Term Loans Amortized Cost Basis1,419,000
Total amortized cost basis14,289,000
Home equity line | Less than 550
Credit quality
Revolving Loans Amortized Cost Basis3,641,000
Revolving Loans Converted to Term Loans Amortized Cost Basis359,000
Total amortized cost basis4,000,000
Home equity line | No Score
Credit quality
Revolving Loans Amortized Cost Basis4,009,000
Total amortized cost basis4,009,000
Commercial and Industrial
Credit quality
2020/2021499,150,000 931,522,000
2019/2020832,468,000 349,849,000
2018/2019340,748,000 215,307,000
2017/2018196,843,000 81,113,000
2016/201758,012,000 56,095,000
Prior237,698,000 111,069,000
Revolving Loans Amortized Cost Basis926,621,000 1,243,900,000
Revolving Loans Converted to Term Loans Amortized Cost Basis29,896,000 30,652,000
Total amortized cost basis3,121,436,000 3,019,507,000
Total Loans and Leases3,121,436,000 3,019,507,000
Commercial and Industrial | Pass
Credit quality
2020/2021495,898,000 873,639,000
2019/2020781,914,000 324,030,000
2018/2019315,190,000 183,329,000
2017/2018152,290,000 73,000,000
2016/201751,136,000 49,886,000
Prior218,781,000 94,360,000
Revolving Loans Amortized Cost Basis785,046,000 1,058,786,000
Revolving Loans Converted to Term Loans Amortized Cost Basis27,922,000 28,853,000
Total amortized cost basis2,828,177,000 2,685,883,000
Commercial and Industrial | Special mention
Credit quality
2020/202120,937,000
2019/202017,608,000 10,370,000
2018/201910,957,000 20,164,000
2017/201819,751,000 2,099,000
2016/20171,930,000 279,000
Prior5,373,000 8,316,000
Revolving Loans Amortized Cost Basis66,867,000 101,183,000
Revolving Loans Converted to Term Loans Amortized Cost Basis607,000 1,549,000
Total amortized cost basis123,093,000 164,897,000
Commercial and Industrial | Substandard
Credit quality
2020/202123,804,000
2019/202023,098,000 2,023,000
2018/20192,808,000 2,568,000
2017/201816,913,000 677,000
2016/2017584,000 4,063,000
Prior12,048,000 8,113,000
Revolving Loans Amortized Cost Basis28,361,000 33,775,000
Revolving Loans Converted to Term Loans Amortized Cost Basis1,367,000 250,000
Total amortized cost basis85,179,000 75,273,000
Commercial and Industrial | Other
Credit quality
2020/20213,252,000 13,142,000
2019/20209,848,000 13,426,000
2018/201911,793,000 9,246,000
2017/20187,889,000 5,337,000
2016/20174,362,000 1,867,000
Prior1,496,000 280,000
Revolving Loans Amortized Cost Basis46,347,000 50,156,000
Total amortized cost basis84,987,000 93,454,000
Commercial real estate
Credit quality
2020/202141,958,000 344,374,000
2019/2020348,282,000 678,824,000
2018/2019672,693,000 586,274,000
2017/2018586,223,000 484,627,000
2016/2017491,574,000 343,882,000
Prior1,196,211,000 894,258,000
Revolving Loans Amortized Cost Basis59,284,000 60,114,000
Revolving Loans Converted to Term Loans Amortized Cost Basis8,000 323,000
Total amortized cost basis3,396,233,000 3,392,676,000
Total Loans and Leases3,396,233,000 3,392,676,000
Commercial real estate | Pass
Credit quality
2020/202141,958,000 342,845,000
2019/2020346,445,000 611,243,000
2018/2019613,930,000 541,104,000
2017/2018556,954,000 447,366,000
2016/2017454,433,000 295,426,000
Prior1,104,669,000 814,398,000
Revolving Loans Amortized Cost Basis51,280,000 47,604,000
Revolving Loans Converted to Term Loans Amortized Cost Basis8,000 323,000
Total amortized cost basis3,169,677,000 3,100,309,000
Commercial real estate | Special mention
Credit quality
2020/20211,500,000
2019/20201,491,000 63,617,000
2018/201958,763,000 26,187,000
2017/201814,518,000 33,482,000
2016/201733,401,000 37,841,000
Prior64,971,000 61,279,000
Revolving Loans Amortized Cost Basis2,999,000
Total amortized cost basis173,144,000 226,905,000
Commercial real estate | Substandard
Credit quality
2020/202129,000
2019/2020346,000 3,964,000
2018/201918,983,000
2017/201814,751,000 3,779,000
2016/20173,740,000 10,615,000
Prior26,082,000 18,083,000
Revolving Loans Amortized Cost Basis8,004,000 9,511,000
Total amortized cost basis52,923,000 64,964,000
Commercial real estate | Other
Credit quality
Prior489,000 498,000
Total amortized cost basis489,000 498,000
Construction
Credit quality
2020/202137,611,000 70,509,000
2019/202090,267,000 250,631,000
2018/2019270,953,000 211,831,000
2017/2018170,882,000 94,034,000
2016/201766,621,000 25,492,000
Prior78,314,000 54,353,000
Revolving Loans Amortized Cost Basis24,623,000 28,969,000
Total amortized cost basis739,271,000 735,819,000
Total Loans and Leases739,271,000 735,819,000
Construction | Pass
Credit quality
2020/202132,201,000 53,931,000
2019/202073,512,000 233,730,000
2018/2019260,522,000 202,808,000
2017/2018162,052,000 83,792,000
2016/201758,537,000 23,171,000
Prior63,624,000 41,536,000
Revolving Loans Amortized Cost Basis24,043,000 28,386,000
Total amortized cost basis674,491,000 667,354,000
Construction | Special mention
Credit quality
2019/2020508,000
2018/2019507,000 707,000
2017/2018706,000 4,717,000
2016/20174,429,000
Prior9,172,000 9,172,000
Total amortized cost basis14,814,000 15,104,000
Construction | Substandard
Credit quality
2018/2019541,000
2017/2018536,000 1,840,000
2016/2017521,000
Prior1,478,000 989,000
Total amortized cost basis2,014,000 3,891,000
Construction | Other
Credit quality
2020/20215,410,000 16,578,000
2019/202016,755,000 16,393,000
2018/20199,924,000 7,775,000
2017/20187,588,000 3,685,000
2016/20173,655,000 1,800,000
Prior4,040,000 2,656,000
Revolving Loans Amortized Cost Basis580,000 583,000
Total amortized cost basis47,952,000 49,470,000
Lease financing
Credit quality
2020/20217,053,000 82,722,000
2019/202076,509,000 63,286,000
2018/201960,891,000 14,307,000
2017/201813,100,000 19,648,000
2016/201718,740,000 3,361,000
Prior61,855,000 62,087,000
Total amortized cost basis238,148,000 245,411,000
Total Loans and Leases238,148,000 245,411,000
Lease financing | Pass
Credit quality
2020/20216,487,000 79,064,000
2019/202073,461,000 60,717,000
2018/201958,375,000 13,669,000
2017/201812,521,000 17,207,000
2016/201716,410,000 3,010,000
Prior60,734,000 61,266,000
Total amortized cost basis227,988,000 234,933,000
Lease financing | Special mention
Credit quality
2020/2021566,000 950,000
2019/2020334,000 892,000
2018/2019843,000 311,000
2017/2018286,000 1,300,000
2016/20171,223,000 351,000
Prior599,000 295,000
Total amortized cost basis3,851,000 4,099,000
Lease financing | Substandard
Credit quality
2020/20212,708,000
2019/20202,714,000 1,677,000
2018/20191,673,000 327,000
2017/2018293,000 1,141,000
2016/20171,107,000
Prior522,000 526,000
Total amortized cost basis6,309,000 6,379,000
Commercial Lending
Credit quality
2020/2021585,772,000 1,429,127,000
2019/20201,347,526,000 1,342,590,000
2018/20191,345,285,000 1,027,719,000
2017/2018967,048,000 679,422,000
2016/2017634,947,000 428,830,000
Prior1,574,078,000 1,121,767,000
Revolving Loans Amortized Cost Basis1,010,528,000 1,332,983,000
Revolving Loans Converted to Term Loans Amortized Cost Basis29,904,000 30,975,000
Total amortized cost basis $ 7,495,088,000 $ 7,393,413,000

Allowance for Credit Losses -_3

Allowance for Credit Losses - Amortized Cost Basis of Revolving Loans that Were Converted to Term Loans (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Credit quality
Total Revolving Loans Converted to Term Loans During the Period $ 1,801 $ 28,524
Commercial and Industrial
Credit quality
Total Revolving Loans Converted to Term Loans During the Period229 28,228
Home equity Line
Credit quality
Total Revolving Loans Converted to Term Loans During the Period1,079
Consumer
Credit quality
Total Revolving Loans Converted to Term Loans During the Period $ 493
Residential Mortgage.
Credit quality
Total Revolving Loans Converted to Term Loans During the Period $ 296

Allowance for Credit Losses -_4

Allowance for Credit Losses - Aging of Analysis of Past Due Loans and Leases (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases $ 13,300,289 $ 13,279,097
Loans and Leases Past Due 90 Days or More and Still Accruing Interest11,167
30 - 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases31,834 26,688
60 - 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases4,541 13,621
Greater Than or Equal to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases14,560 17,182
Loans and Leases Past Due 90 Days or More and Still Accruing Interest9,507
Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases50,935 57,491
Current
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases13,249,354 13,221,606
Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases3,121,436 3,019,507
Loans and Leases Past Due 90 Days or More and Still Accruing Interest2,108
Commercial and Industrial | 30 - 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases4,710 2,585
Commercial and Industrial | 60 - 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases786 604
Commercial and Industrial | Greater Than or Equal to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases1,751 2,626
Loans and Leases Past Due 90 Days or More and Still Accruing Interest1,365
Commercial and Industrial | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases7,247 5,815
Commercial and Industrial | Current
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases3,114,189 3,013,692
Commercial real estate
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases3,396,233 3,392,676
Loans and Leases Past Due 90 Days or More and Still Accruing Interest882
Commercial real estate | 30 - 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases1,727 75
Commercial real estate | 60 - 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases443 2,568
Commercial real estate | Greater Than or Equal to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases1,990 963
Loans and Leases Past Due 90 Days or More and Still Accruing Interest1,054
Commercial real estate | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases4,160 3,606
Commercial real estate | Current
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases3,392,073 3,389,070
Construction
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases739,271 735,819
Loans and Leases Past Due 90 Days or More and Still Accruing Interest93
Construction | 30 - 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases1,383 779
Construction | 60 - 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases376
Construction | Greater Than or Equal to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases668 2,137
Loans and Leases Past Due 90 Days or More and Still Accruing Interest89
Construction | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases2,051 3,292
Construction | Current
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases737,220 732,527
Lease financing
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases238,148 245,411
Lease financing | Current
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases238,148 245,411
Residential mortgage | Residential
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases3,715,676 3,690,218
Residential mortgage | Residential | 30 - 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases11,659 3,382
Residential mortgage | Residential | 60 - 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases904 4,125
Residential mortgage | Residential | Greater Than or Equal to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases3,152 3,372
Residential mortgage | Residential | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases15,715 10,879
Residential mortgage | Residential | Current
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases3,699,961 3,679,339
Home equity | Home equity Line
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases805,746 841,624
Loans and Leases Past Due 90 Days or More and Still Accruing Interest4,818
Home equity | Home equity Line | 30 - 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases1,744 1,375
Home equity | Home equity Line | 60 - 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases126 743
Home equity | Home equity Line | Greater Than or Equal to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases4,975 4,818
Loans and Leases Past Due 90 Days or More and Still Accruing Interest4,975
Home equity | Home equity Line | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases6,845 6,936
Home equity | Home equity Line | Current
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases798,901 834,688
Consumer loans | Consumer
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases1,283,779 1,353,842
Loans and Leases Past Due 90 Days or More and Still Accruing Interest3,266
Consumer loans | Consumer | 30 - 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases10,611 18,492
Consumer loans | Consumer | 60 - 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases2,282 5,205
Consumer loans | Consumer | Greater Than or Equal to 90 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases2,024 3,266
Loans and Leases Past Due 90 Days or More and Still Accruing Interest2,024
Consumer loans | Consumer | Total Past Due
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases14,917 26,963
Consumer loans | Consumer | Current
Financing Receivable, Recorded Investment, Past Due
Total Loans and Leases $ 1,268,862 $ 1,326,879

Allowance for Credit Losses -_5

Allowance for Credit Losses - Amortized Cost Basis of Loans and Leases on Nonaccrual Status (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans and Leases With No Allowance for Credit Losses $ 2,168 $ 3,156
Nonaccrual Loans and Leases9,108 9,082
Interest income recognized on nonaccrual loans and leases100
Accrued interest receivables written off, Interest income reversed400
Commercial and Industrial
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans and Leases593 518
Commercial real estate
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans and Leases With No Allowance for Credit Losses857
Nonaccrual Loans and Leases937 80
Construction
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans and Leases With No Allowance for Credit Losses1,840
Nonaccrual Loans and Leases579 2,043
Residential
Financing Receivable, Nonaccrual [Line Items]
Nonaccrual Loans and Leases With No Allowance for Credit Losses1,311 1,316
Nonaccrual Loans and Leases $ 6,999 $ 6,441

Allowance for Credit Losses - C

Allowance for Credit Losses - Collateral-Dependent Loans and Leases (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Allowance for Credit Losses
Amortized cost basis of collateral dependent loans $ 23.3 $ 21

Allowance for Credit Losses - T

Allowance for Credit Losses - Troubled Debt Restructuring Modifications (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)contractloanMar. 31, 2020USD ($)contractDec. 31, 2020USD ($)loan
Troubled debt restructuring modifications
Number of Contracts | contract1,719 1
Recorded Investment $ 24,340 $ 500
Related ACL14,196 $ 30
Aggregate commitments to extend credit, standby letters of credit and commercial letters of credit6,300,000 $ 6,100,000
Commitments related to borrowers who had loan terms modified in a TDR $ 400 $ 200
Loans modified in TDRs that experienced a payment default
Number of loans modified in TDRs that have defaulted in the current period | contract97
Recorded Investment, Defaulted TDRs $ 2,198
Commercial and Industrial
Troubled debt restructuring modifications
Number of Contracts | contract17 1
Recorded Investment $ 2,945 $ 500
Related ACL $ 1,648 $ 30
Loans modified in TDRs that experienced a payment default
Number of loans modified in TDRs that have defaulted in the current period | contract2
Recorded Investment, Defaulted TDRs $ 397
Consumer
Troubled debt restructuring modifications
Number of Contracts | contract1,690
Recorded Investment $ 15,763
Related ACL $ 11,832
Loans modified in TDRs that experienced a payment default
Number of loans modified in TDRs that have defaulted in the current period | contract93
Recorded Investment, Defaulted TDRs $ 1,068
Construction
Troubled debt restructuring modifications
Number of Contracts | contract2
Recorded Investment $ 716
Related ACL $ 342
Loans modified in TDRs that experienced a payment default
Number of loans modified in TDRs that have defaulted in the current period | contract1
Recorded Investment, Defaulted TDRs $ 361
Residential Mortgage.
Troubled debt restructuring modifications
Number of Contracts | contract10
Recorded Investment $ 4,916
Related ACL $ 374
Loans modified in TDRs that experienced a payment default
Number of loans modified in TDRs that have defaulted in the current period | contract1
Recorded Investment, Defaulted TDRs $ 372
Number of loans collateralized by real estate property modified in a TDR in the process of foreclosure | loan0 0
Residential Mortgage. | Real estate property held from foreclosed TDR
Loans modified in TDRs that experienced a payment default
Number of real estate properties | loan0 0
Commitments to extend credit
Troubled debt restructuring modifications
Aggregate commitments to extend credit, standby letters of credit and commercial letters of credit $ 6,067,465 $ 5,934,535
Standby letters of credit
Troubled debt restructuring modifications
Aggregate commitments to extend credit, standby letters of credit and commercial letters of credit180,909 185,108
Commercial letters of credit
Troubled debt restructuring modifications
Aggregate commitments to extend credit, standby letters of credit and commercial letters of credit $ 5,014 $ 3,834

Mortgage Servicing Rights - Loa

Mortgage Servicing Rights - Loans, Fees, Amortization and Carrying Value (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Other Intangible Assets
Unpaid principal amount of consumer loans serviced for others $ 2,000,000 $ 2,200,000
Contractually specified fees, late charges, and ancillary fees1,300 $ 1,500
Amortization of mortgage servicing rights545 $ 1,980
Details of MSRs
Gross carrying amount68,540 67,856
Less: accumulated amortization57,671 57,125
Net carrying value10,869 $ 10,731
MSRs
Estimated future amortization expenses for MSRs, next five years
Under one year2,013
One to two years1,615
Two to three years1,323
Three to four years1,100
Four to five years $ 924

Mortgage Servicing Rights - Cha

Mortgage Servicing Rights - Changes in Amortized MSRs (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Changes in amortized mortgage servicing rights
Balance at beginning of period $ 10,731 $ 12,668
Originations683 1,291
Amortization(545)(1,980)
Balance at end of period10,869 11,979
Fair value of amortized MSRs at beginning of period14,029 20,329
Fair value of amortized MSRs at end of period14,921 17,615
Impairment of MSRs recorded $ 0 $ 0

Mortgage Servicing Rights - Qua

Mortgage Servicing Rights - Quantitative Assumptions Used for MSRs (Details)3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Minimum
Quantitative assumptions used in determining lower of cost or fair value of MSRs
Conditional prepayment rate (as a percent)12.79%11.86%
Life in years (of the MSR)1 year 10 months 9 days1 year 9 months 29 days
Weighted-average coupon rate (as a percent)3.41%3.24%
Discount rate (as a percent)10.00%10.00%
Maximum
Quantitative assumptions used in determining lower of cost or fair value of MSRs
Conditional prepayment rate (as a percent)27.09%26.52%
Life in years (of the MSR)6 years 3 months 21 days6 years 8 months 4 days
Weighted-average coupon rate (as a percent)6.91%6.98%
Discount rate (as a percent)10.00%10.00%
Weighted Average
Quantitative assumptions used in determining lower of cost or fair value of MSRs
Conditional prepayment rate (as a percent)14.18%16.90%
Life in years (of the MSR)5 years 2 months 1 day4 years 5 months 12 days
Weighted-average coupon rate (as a percent)3.79%3.84%
Discount rate (as a percent)10.00%10.00%

Transfers of Financial Assets -

Transfers of Financial Assets - Carrying Amounts of Assets Pledged as Collateral, Borrowings and Other Transactions (Details) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Carrying amounts of the assets pledged as collateral
Public deposits $ 2,418,838 $ 2,251,508
Federal Home Loan Bank2,887,878 2,917,317
Federal Reserve Bank1,929,876 1,919,744
ACH transactions111,454 111,347
Interest rate swaps42,373 56,004
Total7,390,419 7,255,920
Securities for reverse repurchase agreements0 0
Extinguishment of debt
In-substance debt defeasance $ 0 $ 0

Deposits - Interest-bearing or

Deposits - Interest-bearing or Noninterest-bearing (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
U.S.:
Interest-bearing $ 11,159,564 $ 10,928,712
Noninterest-bearing7,329,662 6,674,352
Foreign:
Interest-bearing799,042 776,897
Noninterest-bearing845,413 847,762
Total deposits $ 20,133,681 $ 19,227,723

Deposits - Maturity Distributio

Deposits - Maturity Distribution of Time Certificates of Deposits (Details) $ in ThousandsMar. 31, 2021USD ($)
Maturity distribution of time certificates of deposit
Three months or less $ 647,397
Over three through six months356,878
Over six through twelve months751,881
One to two years211,237
Two to three years97,250
Three to four years45,459
Four to five years63,979
Thereafter760
Total2,174,841
Under $250,000
Maturity distribution of time certificates of deposit
Three months or less232,935
Over three through six months146,206
Over six through twelve months372,636
One to two years128,248
Two to three years80,286
Three to four years40,578
Four to five years42,510
Thereafter510
Total1,043,909
$250,000 or More
Maturity distribution of time certificates of deposit
Three months or less414,462
Over three through six months210,672
Over six through twelve months379,245
One to two years82,989
Two to three years16,964
Three to four years4,881
Four to five years21,469
Thereafter250
Total $ 1,130,932

Deposits - Time Certificate Den

Deposits - Time Certificate Denominations and Overdrawn Accounts (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Deposits
Time certificates of deposit in denominations of $250,000 or more, in the aggregate $ 1,100 $ 1,300
Overdrawn deposit accounts classified as loans $ 1 $ 2.6

Long-Term Borrowings - Componen

Long-Term Borrowings - Components (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Long-term borrowings
Finance lease liabilities $ 10 $ 10
Long-term borrowings $ 200,010 $ 200,010
Finance lease obligation, annual interest rate6.78%6.78%
Federal Reserve Bank line of credit
Long-term borrowings
Remaining borrowing capacity $ 1,200,000 $ 1,100,000
FHLB fixed-rate advances
Long-term borrowings
Long-term borrowings200,000 200,000
Remaining borrowing capacity $ 2,000,000 $ 2,000,000
Weighted average interest rate2.73%2.73%

Long-Term Borrowings - Future C

Long-Term Borrowings - Future Contractual Principal Payments (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Future contractual principal payments and maturities on long term borrowings
2021 $ 10
2023100,000
2024100,000
Total200,010 $ 200,010
FHLB fixed-rate advances
Future contractual principal payments and maturities on long term borrowings
Total $ 200,000 $ 200,000
FHLB fixed-rate advances | June 3, 2021
Future contractual principal payments and maturities on long term borrowings
Interest rate (as a percent)2.80%
FHLB fixed-rate advances | July 15, 2021
Future contractual principal payments and maturities on long term borrowings
Interest rate (as a percent)2.65%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Pre-tax Amount
Other comprehensive income (loss), Pre-tax Amount $ (102,336) $ 49,079
Income Tax Benefit (Expense)
Other comprehensive income (loss), Income Tax Benefit (Expense)27,297 (13,201)
Net of tax
Balance2,744,104 2,640,258
Other comprehensive (loss) income(75,039)35,878
Balance2,683,630 2,664,685
Accumulated other comprehensive Income (loss)
Pre-tax Amount
Accumulated other comprehensive loss, beginning balance, Pre-tax Amount43,098 (43,450)
Accumulated other comprehensive loss, ending balance, Pre-tax Amount(59,238)5,629
Income Tax Benefit (Expense)
Accumulated other comprehensive loss, beginning balance, Income Tax Benefit (Expense)(11,494)11,701
Accumulated other comprehensive loss, ending balance, Income Tax Benefit (Expense)15,803 (1,500)
Net of tax
Balance31,604 (31,749)
Other comprehensive (loss) income(75,039)35,878
Balance(43,435)4,129
Pension and other benefits:
Income Tax Benefit (Expense)
Other comprehensive income (loss), Income Tax Benefit (Expense)(96)
Net of tax
Balance(31,737)(28,082)
Other comprehensive (loss) income(96)
Balance(31,737)(28,178)
Pension and other benefits, change in Company tax rate
Income Tax Benefit (Expense)
Unrealized net gains arising during the period, Income Tax Benefit (Expense)(96)
Net of tax
Unrealized net gains arising during the period, Net of tax(96)
Investment securities:
Pre-tax Amount
Unrealized net gains (losses) arising during the period, Pre-tax Amount(102,336)49,164
Reclassification of net losses (gains) to net income, Pre-tax Amount(85)
Other comprehensive income (loss), Pre-tax Amount(102,336)49,079
Income Tax Benefit (Expense)
Unrealized net gains arising during the period, Income Tax Benefit (Expense)27,297 (13,128)
Reclassification of net losses (gains) to net income, Income Tax Benefit (Expense)23
Other comprehensive income (loss), Income Tax Benefit (Expense)27,297 (13,105)
Net of tax
Balance63,341 (3,667)
Unrealized net gains arising during the period, Net of tax(75,039)36,036
Reclassification of net gains to net income, Net of tax(62)
Other comprehensive (loss) income(75,039)35,974
Balance $ (11,698) $ 32,307

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Changes, Net of Tax (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Net of tax
Balance $ 2,744,104 $ 2,640,258
Net income57,693 38,865
Other comprehensive income (loss)(75,039)35,878
Balance2,683,630 2,664,685
Accumulated other comprehensive Income (loss)
Net of tax
Balance31,604 (31,749)
Other comprehensive income (loss)(75,039)35,878
Balance(43,435)4,129
Pension and other benefits:
Net of tax
Balance(31,737)(28,082)
Other comprehensive income (loss)(96)
Balance(31,737)(28,178)
Investment securities:
Net of tax
Balance63,341 (3,667)
Other comprehensive income (loss)(75,039)35,974
Balance $ (11,698)32,307
Reclassification of net losses (gains) to net income, Pre-tax Amount $ 85

Regulatory Capital Requiremen_3

Regulatory Capital Requirements (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Common equity tier 1 capital to risk-weighted assets
Amount $ 1,731,573 $ 1,717,008
Ratio (as a percent)12.82%12.47%
Minimum Capital Ratio (as a percent)4.504.50
Well-Capitalized Ratio (as a percent)6.50%6.50%
Tier 1 capital to risk-weighted assets
Amount $ 1,731,573 $ 1,717,008
Ratio (as a percent)12.8212.47
Minimum Capital Ratio (as a percent)6 6
Well-Capitalized Ratio (percent)8 8
Total capital to risk-weighted assets
Amount $ 1,901,254 $ 1,889,958
Ratio (as a percent)14.0713.73
Minimum Capital Ratio (as a percent)8 8
Well-Capitalized Ratio (as a percent)10 10
Tier 1 capital to average assets (leverage ratio)
Amount $ 1,731,573 $ 1,717,008
Ratio7.908
Minimum Capital Ratio (as a percent)4 4
Well-Capitalized Ratio (percent)5 5
First Hawaiian Bank (FHB)
Common equity tier 1 capital to risk-weighted assets
Amount $ 1,717,126 $ 1,699,485
Ratio (as a percent)12.71%12.34%
Tier 1 capital to risk-weighted assets
Amount $ 1,717,126 $ 1,699,485
Ratio (as a percent)12.7112.34
Total capital to risk-weighted assets
Amount $ 1,886,793 $ 1,872,427
Ratio (as a percent)13.9713.60
Tier 1 capital to average assets (leverage ratio)
Amount $ 1,717,126 $ 1,699,485
Ratio7.837.92

Regulatory Capital Requiremen_4

Regulatory Capital Requirements - Capital Conservation Buffer (Details)Mar. 31, 2021Dec. 31, 2020
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Effective CET1 capital to risk-weighted assets (as a percent)4.504.50
Effective Tier 1 capital to risk-weighted assets (as a percent)12.8212.47
Effective total capital to risk-weighted assets (as a percent)14.0713.73
Capital conservation buffer
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Effective CET1 capital to risk-weighted assets (as a percent)7
Effective Tier 1 capital to risk-weighted assets (as a percent)8.5
Effective total capital to risk-weighted assets (as a percent)10.5
Capital requirements above regulatory rate (as a percent)2.50%

Derivative Financial Instrume_3

Derivative Financial Instruments - Notional Amounts and Fair Values (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Derivatives designated as hedging instruments | Interest rate swaps
Notional amounts and fair values of derivatives
Notional Amount $ 22,451 $ 22,451
Derivatives designated as hedging instruments | Interest rate swaps | Included in other liabilities
Notional amounts and fair values of derivatives
Liability Derivatives(1,084)(1,276)
Derivatives Not Designated as Hedging Instruments | Interest rate swaps
Notional amounts and fair values of derivatives
Notional Amount3,000,461 3,002,333
Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Included in other assets
Notional amounts and fair values of derivatives
Asset Derivatives80,126 129,888
Derivatives Not Designated as Hedging Instruments | Interest rate caps and floors
Notional amounts and fair values of derivatives
Notional Amount148,800 148,800
Derivatives Not Designated as Hedging Instruments | Interest rate caps and floors | Included in other assets
Notional amounts and fair values of derivatives
Asset Derivatives56 7
Derivatives Not Designated as Hedging Instruments | Interest rate caps and floors | Included in other liabilities
Notional amounts and fair values of derivatives
Liability Derivatives(56)(7)
Derivatives Not Designated as Hedging Instruments | Funding Swap (Visa Derivative)
Notional amounts and fair values of derivatives
Notional Amount95,799 92,647
Derivatives Not Designated as Hedging Instruments | Funding Swap (Visa Derivative) | Included in other liabilities
Notional amounts and fair values of derivatives
Liability Derivatives $ (3,382)(4,554)
Derivatives Not Designated as Hedging Instruments | Foreign exchange contracts
Notional amounts and fair values of derivatives
Notional Amount $ 326

Derivative Financial Instrume_4

Derivative Financial Instruments - Clearinghouse Margin and Collateral (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Derivative contracts
Initial margin collateral posted $ 1.4 $ 4.8
Interest rate swaps
Derivative contracts
Financial instruments pledged as collateral30.7 30.8
Cash pledged as collateral11.7 25.2
Chicago Mercantile Exchange (CME) and London Clearing House (LCH)
Derivative contracts
Variation margin $ 80.1 $ 129.9

Derivative Financial Instrume_5

Derivative Financial Instruments - Fair Value Hedges (Details) $ in ThousandsMar. 31, 2021USD ($)derivativeDec. 31, 2020USD ($)derivative
Fair value hedges
Fair hedges carried
Fixed interest rate (as a percent)2.90%2.90%
Derivatives designated as hedging instruments | Interest rate swaps
Fair hedges carried
Notional amounts $ 22,451 $ 22,451
Derivatives designated as hedging instruments | Interest rate swaps | Fair value hedges
Fair hedges carried
Number of derivatives carried | derivative1 1
Notional amounts $ 22,500 $ 22,500
Negative fair value $ 1,100 $ 1,300

Derivative Financial Instrume_6

Derivative Financial Instruments - Net Gains and Losses Recognized in Income, Fair Value Hedges (Details) - Loans and lease financing - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Gains and losses related to derivatives
Recognized on hedged item $ (249) $ 906
Interest rate swaps
Gains and losses related to derivatives
Recognized on interest rate swap $ 193 $ (955)

Derivative Financial Instrume_7

Derivative Financial Instruments - Amounts Recorded in Balance Sheets Related to Cumulative Basis Adjustments (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Derivative Financial Instruments
Hedged Asset Carrying Amount $ 23,920 $ 24,355
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) $ 1,239 $ 1,487

Derivative Financial Instrume_8

Derivative Financial Instruments - Derivatives Not Designated as Hedges (Details) - Derivatives Not Designated as Hedging Instruments - Other noninterest income - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Funding Swap (Visa Derivative)
Impact on pretax earnings of derivatives not designated as hedges
Net Gains (Losses) on Derivatives $ 26 $ 6
Foreign exchange contracts
Impact on pretax earnings of derivatives not designated as hedges
Net Gains (Losses) on Derivatives $ (52)

Derivative Financial Instrume_9

Derivative Financial Instruments - Free-Standing (Details) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2021USD ($)Mar. 31, 2020USD ($)Dec. 31, 2016sharesDec. 31, 2020USD ($)Oct. 31, 2019USD ($)Sep. 30, 2019Sep. 27, 2019Jul. 31, 2018USD ($)Jul. 05, 2018Jun. 28, 2018Dec. 31, 2017
Minimum
Derivative financial instruments
Derivative, Floating rate0.11%
Maximum
Derivative financial instruments
Derivative, Floating rate3.82%
Visa | Class B restricted shares
Derivative financial instruments
Estimated amount that was subsequently paid to the buyer $ 300
Number of shares sold | shares274,000
Funding Swap (Visa Derivative)
Derivative financial instruments
Derivative liability value $ 3,400 $ 4,600
Funding Swap (Visa Derivative) | Class B restricted shares
Derivative financial instruments
Conversion rate1.6228 1.6228 1.6298 1.6298 1.6483
Funding Swap (Visa Derivative) | Visa
Derivative financial instruments
Estimated amount that was subsequently paid to the buyer $ 300 $ 700
Derivatives Not Designated as Hedging Instruments | Interest rate swaps
Derivative financial instruments
Notional Amount3,000,461 $ 3,002,333
Net interest expense on derivative $ 0 $ 0
Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Minimum
Derivative financial instruments
Derivative, Floating rate0.15%
Fixed interest rate (as a percent)2.02%2.02%
Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Maximum
Derivative financial instruments
Derivative, Floating rate3.16%
Fixed interest rate (as a percent)5.78%5.78%
Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Customer swap program
Derivative financial instruments
Notional Amount $ 3,000,000
Positive fair value, derivative asset80,100 $ 129,900
Negative fair value, derivative liability0 0
Upfront fees on the dealer swap500 $ 1,900
Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Included in other assets
Derivative financial instruments
Positive fair value, derivative asset80,126 129,888
Derivatives Not Designated as Hedging Instruments | Funding Swap (Visa Derivative)
Derivative financial instruments
Notional Amount95,799 92,647
Derivatives Not Designated as Hedging Instruments | Funding Swap (Visa Derivative) | Included in other liabilities
Derivative financial instruments
Negative fair value, derivative liability $ 3,382 4,554
Derivatives Not Designated as Hedging Instruments | Foreign exchange contracts
Derivative financial instruments
Notional Amount $ 326

Derivative Financial Instrum_10

Derivative Financial Instruments - Counterparty Credit Risk and Credit-Risk Related Contingent Features (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Derivative contracts
Counterparty credit risk adjustments $ (0.1) $ (0.1)
Credit-risk-related contingent features
Aggregate fair value of derivative instruments in a net liability position14.1 $ 19.8
Collateral posted for derivatives in a net liability position14.1 $ 20.4
Interest rate swaps
Derivative contracts
Collateral thresholds for derivative agreements with credit risk related contingent features $ 0.3

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Commitments to Extend Credit, Participations Sold (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Commitments to extend credit
Commitments
Participations sold to other institutions $ 81.2 $ 93.1
Standby letters of credit
Commitments
Participations sold to other institutions $ 10.8 $ 11

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Financial instruments with off-balance sheet risk
Contract amount $ 6,300,000 $ 6,100,000
Commitments to extend credit
Financial instruments with off-balance sheet risk
Contract amount6,067,465 5,934,535
Standby letters of credit
Financial instruments with off-balance sheet risk
Contract amount180,909 185,108
Commercial letters of credit
Financial instruments with off-balance sheet risk
Contract amount $ 5,014 $ 3,834

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Revenue from Contracts with Customers
Net interest income $ 129,158 $ 138,683
Not in scope of Topic 6066,403 8,907
Total noninterest income43,868 49,228
Total revenue173,026 187,911
Retail Banking
Revenue from Contracts with Customers
Net interest income100,888 89,883
Not in scope of Topic 6063,354 3,637
Total noninterest income23,575 26,376
Total revenue124,463 116,259
Commercial Banking
Revenue from Contracts with Customers
Net interest income31,832 34,414
Not in scope of Topic 6061,322 3,028
Total noninterest income16,041 17,796
Total revenue47,873 52,210
Treasury and Other
Revenue from Contracts with Customers
Net interest income(3,562)14,386
Not in scope of Topic 6061,727 2,242
Total noninterest income4,252 5,056
Total revenue690 19,442
Service charges on deposit accounts.
Revenue from Contracts with Customers
Revenue by type of service6,718 8,950
Service charges on deposit accounts. | Retail Banking
Revenue from Contracts with Customers
Revenue by type of service6,086 8,088
Service charges on deposit accounts. | Commercial Banking
Revenue from Contracts with Customers
Revenue by type of service223 351
Service charges on deposit accounts. | Treasury and Other
Revenue from Contracts with Customers
Revenue by type of service409 511
Credit and debit card fees
Revenue from Contracts with Customers
Revenue by type of service13,953 14,486
Credit and debit card fees | Commercial Banking
Revenue from Contracts with Customers
Revenue by type of service12,525 12,887
Credit and debit card fees | Treasury and Other
Revenue from Contracts with Customers
Revenue by type of service1,428 1,599
Other service charges and fees.
Revenue from Contracts with Customers
Revenue by type of service6,391 5,815
Other service charges and fees. | Retail Banking
Revenue from Contracts with Customers
Revenue by type of service5,564 4,875
Other service charges and fees. | Commercial Banking
Revenue from Contracts with Customers
Revenue by type of service475 424
Other service charges and fees. | Treasury and Other
Revenue from Contracts with Customers
Revenue by type of service352 516
Trust and investment services income
Revenue from Contracts with Customers
Revenue by type of service8,492 9,591
Trust and investment services income | Retail Banking
Revenue from Contracts with Customers
Revenue by type of service8,492 9,591
Other
Revenue from Contracts with Customers
Revenue by type of service1,911 1,479
Other | Retail Banking
Revenue from Contracts with Customers
Revenue by type of service79 185
Other | Commercial Banking
Revenue from Contracts with Customers
Revenue by type of service1,496 1,106
Other | Treasury and Other
Revenue from Contracts with Customers
Revenue by type of service $ 336 $ 188

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Balances (Details)3 Months Ended
Mar. 31, 2021USD ($)itemMar. 31, 2020USD ($)Dec. 31, 2020USD ($)
Revenue from Contracts with Customers
Signing bonuses received from vendors | item2
Contract liabilities $ 800,000 $ 1,000,000
Decrease in recognized revenues and contract liabilities200,000 $ 200,000
Change in contract liabilities due to changes in transaction price estimates0 $ 0
Receivables from contracts with customers or contract assets $ 0 $ 0

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Other (Details) - USD ($)Mar. 31, 2021Dec. 31, 2020
Revenue from Contracts with Customers
Significant performance obligations $ 0 $ 0
Material contract acquisition costs $ 0 $ 0

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Earnings per Share
Adjustments to net income (in dollars) $ 0 $ 0
Antidilutive securities (in shares)27,000 0
Numerator:
Net income $ 57,693 $ 38,865
Denominator:
Basic: weighted-average shares outstanding (in shares)129,933,104 129,895,706
Add: weighted-average equity-based awards (in shares)656,774 455,879
Diluted: weighted-average shares outstanding (in shares)130,589,878 130,351,585
Basic earnings per share (in dollars per share) $ 0.44 $ 0.30
Diluted earnings per share (in dollars per share) $ 0.44 $ 0.30

Noninterest Income and Nonint_3

Noninterest Income and Noninterest Expense (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Operating lease income related to lease payments
Operating lease income $ 1,700 $ 1,500
Lease income related to variable lease payments1,500 1,500
Pension Benefits
Components of net periodic benefit cost
Total net periodic benefit cost2,185 1,856
Pension Benefits | Other noninterest expense
Components of net periodic benefit cost
Interest cost1,231 1,621
Expected return on plan assets(766)(1,194)
Recognized net actuarial loss (gain)1,720 1,429
Other Benefits
Components of net periodic benefit cost
Total net periodic benefit cost395 314
Other Benefits | Salaries and employee benefits
Components of net periodic benefit cost
Service cost264 189
Other Benefits | Other noninterest expense
Components of net periodic benefit cost
Interest cost $ 131 164
Prior service credit(13)
Recognized net actuarial loss (gain) $ (26)

Fair Value - Visa Derivative (D

Fair Value - Visa Derivative (Details) - Funding Swap (Visa Derivative) $ in ThousandsMar. 31, 2021USD ($)Dec. 31, 2020USD ($)Sep. 30, 2019Sep. 27, 2019Jul. 05, 2018Jun. 28, 2018Dec. 31, 2017
Class B restricted shares
Fair value
Conversion rate1.6228 1.6228 1.6298 1.6298 1.6483
Fair Value Measurements, Recurring | Level 3
Fair value
Derivative Liability $ 3,400 $ 4,600
Included in other liabilities | Derivatives Not Designated as Hedging Instruments
Fair value
Derivative Liability $ 3,382 $ 4,554

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Assets
Fair value $ 6,692,479 $ 6,071,415
Fair Value Measurements, Recurring
Assets
Fair value6,692,479 6,071,415
Other assets92,912 141,586
Liabilities
Other liabilities(4,522)(5,837)
Total
Net Assets (Liabilities)6,780,869 6,207,164
Fair Value Measurements, Recurring | Level 1
Assets
Other assets12,730 11,691
Total
Net Assets (Liabilities)12,730 11,691
Fair Value Measurements, Recurring | Level 2
Assets
Fair value6,692,479 6,071,415
Other assets80,182 129,895
Liabilities
Other liabilities(1,140)(1,283)
Total
Net Assets (Liabilities)6,771,521 6,200,027
Fair Value Measurements, Recurring | Level 3
Liabilities
Other liabilities(3,382)(4,554)
Total
Net Assets (Liabilities)(3,382)(4,554)
U.S. Treasury and government agency debt securities
Assets
Fair value175,724 171,421
U.S. Treasury and government agency debt securities | Fair Value Measurements, Recurring
Assets
Fair value175,724 171,421
U.S. Treasury and government agency debt securities | Fair Value Measurements, Recurring | Level 2
Assets
Fair value175,724 171,421
Residential - Government agency
Assets
Fair value133,894 160,462
Residential - Government agency | Fair Value Measurements, Recurring
Assets
Fair value133,894 160,462
Residential - Government agency | Fair Value Measurements, Recurring | Level 2
Assets
Fair value133,894 160,462
Residential - Government-sponsored enterprises
Assets
Fair value800,920 447,200
Residential - Government-sponsored enterprises | Fair Value Measurements, Recurring
Assets
Fair value800,920 447,200
Residential - Government-sponsored enterprises | Fair Value Measurements, Recurring | Level 2
Assets
Fair value800,920 447,200
Commercial - Government agency
Assets
Fair value527,516 599,650
Commercial - Government agency | Fair Value Measurements, Recurring
Assets
Fair value527,516 599,650
Commercial - Government agency | Fair Value Measurements, Recurring | Level 2
Assets
Fair value527,516 599,650
Commercial - Government-sponsored enterprises
Assets
Fair value1,134,175 932,157
Commercial - Government-sponsored enterprises | Fair Value Measurements, Recurring
Assets
Fair value1,134,175 932,157
Commercial - Government-sponsored enterprises | Fair Value Measurements, Recurring | Level 2
Assets
Fair value1,134,175 932,157
Government agency
Assets
Fair value1,845,098 1,933,553
Government agency | Fair Value Measurements, Recurring
Assets
Fair value1,845,098 1,933,553
Government agency | Fair Value Measurements, Recurring | Level 2
Assets
Fair value1,845,098 1,933,553
Government-sponsored enterprises
Assets
Fair value2,075,152 1,826,972
Government-sponsored enterprises | Fair Value Measurements, Recurring
Assets
Fair value2,075,152 1,826,972
Government-sponsored enterprises | Fair Value Measurements, Recurring | Level 2
Assets
Fair value $ 2,075,152 $ 1,826,972

Fair Value - Changes in Fair Va

Fair Value - Changes in Fair Value Levels and in Level 3 Liabilities (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Fair value
Amount of transfers between hierarchy levels $ 0 $ 0
Visa derivative | Funding Swap (Visa Derivative)
Changes in Level 3 liabilities measured at fair value on a recurring basis
Balance(4,554)(4,233)
Total net gains included in other noninterest income26 6
Settlements1,146 1,028
Balance(3,382)(3,199)
Total net gains included in net income attributable to the change in unrealized gains or losses related to liabilities still held as of March 31, $ 26 $ 6

Fair Value - Financial Instrume

Fair Value - Financial Instruments not Required to be Carried at Fair Value (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Lease and lease commitments excluded
Financing leases $ 238,100 $ 245,400
Deposit liabilities with no defined or contractual maturity18,000,000 16,900,000
Capital lease obligations10 10
Book Value
Financial assets:
Cash and cash equivalents1,262,810 1,040,944
Loans held for sale9,390 11,579
Loans13,062,141 13,033,686
Financial liabilities:
Time Deposits2,174,841 2,348,298
Long-term borrowings200,000 200,000
Estimated Fair Value
Financial assets:
Cash and cash equivalents1,262,810 1,040,944
Loans held for sale9,893 12,018
Loans13,186,769 13,255,636
Financial liabilities:
Time Deposits2,179,865 2,357,137
Long-term borrowings211,903 214,167
Estimated Fair Value | Level 1
Financial assets:
Cash and cash equivalents278,994 303,373
Estimated Fair Value | Level 2
Financial assets:
Cash and cash equivalents983,816 737,571
Loans held for sale9,893 12,018
Financial liabilities:
Time Deposits2,179,865 2,357,137
Long-term borrowings211,903 214,167
Estimated Fair Value | Level 3
Financial assets:
Loans $ 13,186,769 $ 13,255,636

Fair Value - Unfunded Loan and

Fair Value - Unfunded Loan and Lease Commitments and Letters of Credit (Details) - USD ($) $ in MillionsMar. 31, 2021Dec. 31, 2020
Unfunded loan and lease commitments and letters of credit
Aggregate commitments to extend credit, standby letters of credit and commercial letters of credit $ 6,300 $ 6,100
Level 3
Unfunded loan and lease commitments and letters of credit
Aggregate commitments to extend credit, standby letters of credit and commercial letters of credit6,300 6,100
Estimated fair value of unfunded loan and lease commitments and letters of credit $ 45.5 $ 42.3

Fair Value - Assets and Liabi_2

Fair Value - Assets and Liabilities Recorded at Fair Value on a Nonrecurring Basis (Details) - Collateral-dependent loans - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Assets with fair value adjustments on a nonrecurring basis
Total impairment losses $ 0 $ 400
Fair Value Measurements, Nonrecurring | Level 3
Assets with fair value adjustments on a nonrecurring basis
Fair value $ 1,840

Fair Value - Significant Unobse

Fair Value - Significant Unobservable Inputs Used in Fair Value Measurements (Details) - Level 3 $ in ThousandsMar. 31, 2021USD ($)Dec. 31, 2020USD ($)
Expected Term (in years) | Weighted Average
Fair value
Measurement input1 1
Expected Term (in years) | Minimum
Fair value
Measurement input0.5 0.5
Expected Term (in years) | Maximum
Fair value
Measurement input1.5 1.5
Growth Rate (percentage) | Weighted Average
Fair value
Measurement input13 13
Growth Rate (percentage) | Minimum
Fair value
Measurement input4 4
Growth Rate (percentage) | Maximum
Fair value
Measurement input17 17
Visa derivative
Fair value
Liabilities $ (3,382)
Visa derivative | Expected Conversation Rate | Discounted cash flow | Weighted Average
Fair value
Measurement input1.6228 1.6228
Visa derivative | Expected Conversation Rate | Discounted cash flow | Minimum
Fair value
Measurement input1.5977 1.5977
Visa derivative | Expected Conversation Rate | Discounted cash flow | Maximum
Fair value
Measurement input1.6228 1.6228
Fair Value Measurements, Nonrecurring | Collateral-dependent loans
Fair value
Assets $ 1,840
Fair Value Measurements, Nonrecurring | Visa derivative
Fair value
Liabilities $ (4,554)

Reportable Operating Segments -

Reportable Operating Segments - Business Segments (Details)3 Months Ended
Mar. 31, 2021segmentlocation
Reportable operating segments
Number of business segments | segment3
Retail Banking
Reportable operating segments
Number of Branches | location54

Reportable Operating Segments_2

Reportable Operating Segments - Selected Business Segment Financial Information (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Selected business segment financial information
Net interest income $ 129,158 $ 138,683
Benefit (Provision) for credit losses(41,200)
Net interest income after provision for credit losses129,158 97,483
Noninterest income43,868 49,228
Noninterest expense(96,306)(96,466)
Income before provision for income taxes76,720 50,245
(Provision) benefit for income taxes(19,027)(11,380)
Net income57,693 38,865
Retail Banking
Selected business segment financial information
Net interest income100,888 89,883
Benefit (Provision) for credit losses1,470 (20,065)
Net interest income after provision for credit losses102,358 69,818
Noninterest income23,575 26,376
Noninterest expense(63,794)(61,644)
Income before provision for income taxes62,139 34,550
(Provision) benefit for income taxes(15,502)(7,523)
Net income46,637 27,027
Commercial Banking
Selected business segment financial information
Net interest income31,832 34,414
Benefit (Provision) for credit losses2,030 (20,784)
Net interest income after provision for credit losses33,862 13,630
Noninterest income16,041 17,796
Noninterest expense(21,573)(21,505)
Income before provision for income taxes28,330 9,921
(Provision) benefit for income taxes(6,968)(2,645)
Net income21,362 7,276
Treasury and Other
Selected business segment financial information
Net interest income(3,562)14,386
Benefit (Provision) for credit losses(3,500)(351)
Net interest income after provision for credit losses(7,062)14,035
Noninterest income4,252 5,056
Noninterest expense(10,939)(13,317)
Income before provision for income taxes(13,749)5,774
(Provision) benefit for income taxes3,443 (1,212)
Net income $ (10,306) $ 4,562