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Comprehensive Income | 9 Months Ended
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Sep. 30, 2012
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Comprehensive Income | Comprehensive Income The components of comprehensive income, both gross and net of tax, for Third Quarter 2012 and 2011 are as follows:
Third Quarter 2012 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 20,314 |  |  | 2,040 |  |  | 18,274 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains on securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during the period |  | 36,620 |  |  | 12,817 |  |  | 23,803 |
Portion of OTTI recognized in OCI |  | 2,031 |  |  | 711 |  |  | 1,320 |
Amortization of net unrealized gains on HTM securities |  | 827 |  |  | 290 |  |  | 537 |
Reclassification adjustment for gains included in net income |  | (125 | ) |  | (44 | ) |  | (81 | )
Net unrealized gains |  | 39,353 |  |  | 13,774 |  |  | 25,579 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Reversal of amortization items: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 1,391 |  |  | 487 |  |  | 904 |
Prior service cost |  | 38 |  |  | 14 |  |  | 24 |
Defined benefit pension and post-retirement plans |  | 1,429 |  |  | 501 |  |  | 928 |
Comprehensive income |  | $ | 61,096 |  |  | 16,315 |  |  | 44,781 |
Third Quarter 2011 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net loss |  | $ | (38,483 | ) |  | (20,515 | ) |  | (17,968 | )
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains on securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during the period |  | 14,712 |  |  | 5,148 |  |  | 9,564 |
Portion of OTTI recognized in OCI |  | (81 | ) |  | (28 | ) |  | (53 | )
Amortization of net unrealized gains on HTM securities |  | (664 | ) |  | (232 | ) |  | (432 | )
Reclassification adjustment for gains included in net income |  | 1,907 |  |  | 668 |  |  | 1,239 |
Net unrealized gains |  | 15,874 |  |  | 5,556 |  |  | 10,318 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Reversal of amortization items: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 1,043 |  |  | 365 |  |  | 678 |
Prior service cost |  | 38 |  |  | 14 |  |  | 24 |
Defined benefit pension and post-retirement plans |  | 1,081 |  |  | 379 |  |  | 702 |
Comprehensive loss |  | $ | (21,528 | ) |  | (14,580 | ) |  | (6,948 | )
The components of comprehensive income, both gross and net of tax, for Nine Months 2012 and 2011 are as follows:
Nine Months 2012 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 42,813 |  |  | 6,158 |  |  | 36,655 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains on securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during the period |  | 64,273 |  |  | 22,496 |  |  | 41,777 |
Portion of OTTI recognized in OCI |  | 2,512 |  |  | 879 |  |  | 1,633 |
Amortization of net unrealized gains on HTM securities |  | (649 | ) |  | (227 | ) |  | (422 | )
Reclassification adjustment for gains included in net income |  | (4,702 | ) |  | (1,646 | ) |  | (3,056 | )
Net unrealized gains |  | 61,434 |  |  | 21,502 |  |  | 39,932 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Reversal of amortization items: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 4,172 |  |  | 1,460 |  |  | 2,712 |
Prior service cost |  | 113 |  |  | 40 |  |  | 73 |
Defined benefit pension and post-retirement plans |  | 4,285 |  |  | 1,500 |  |  | 2,785 |
Comprehensive income |  | $ | 108,532 |  |  | 29,160 |  |  | 79,372 |
Nine Months 2011 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net (loss) income |  | $ | (12,424 | ) |  | (16,423 | ) |  | 3,999 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains on securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during the period |  | 43,878 |  |  | 15,357 |  |  | 28,521 |
Portion of OTTI recognized in OCI |  | 517 |  |  | 181 |  |  | 336 |
Amortization of net unrealized gains on HTM securities |  | (3,097 | ) |  | (1,084 | ) |  | (2,013 | )
Reclassification adjustment for gains included in net income |  | (5,986 | ) |  | (2,095 | ) |  | (3,891 | )
Net unrealized gains |  | 35,312 |  |  | 12,359 |  |  | 22,953 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Reversal of amortization items: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 3,252 |  |  | 1,138 |  |  | 2,114 |
Prior service cost |  | 113 |  |  | 40 |  |  | 73 |
Defined benefit pension and post-retirement plans |  | 3,365 |  |  | 1,178 |  |  | 2,187 |
Comprehensive loss |  | $ | 26,253 |  |  | (2,886 | ) |  | 29,139 |
The balances of, and changes in, each component of AOCI (net of taxes) as of September 30, 2012 are as follows:
September 30, 2012 |  | Net Unrealized Gain (Loss) |  |  |  |
($ in thousands) |  | OTTI Related |  | HTM Related |  | All Other |  | Defined Benefit Pension and Post-Retirement Plans |  | Total Accumulated OCI
Balance, December 31, 2011 |  | $ | (3,500 | ) |  | 4,622 |  |  | 96,125 |  |  | (54,953 | ) |  | 42,294 |
Changes in component during period |  | 1,633 |  |  | (1,249 | ) |  | 39,548 |  |  | 2,785 |  |  | 42,717 |
Balance, September 30, 2012 |  | $ | (1,867 | ) |  | 3,373 |  |  | 135,673 |  |  | (52,168 | ) |  | 85,011 |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e640-108580 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 130 -Paragraph 14-26 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Reclassification Adjustments -URI http://asc.fasb.org/extlink&oid=6522872 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e709-108580 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669619-108580 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e689-108580 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e716-108580 + Details
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