Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2013

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

Components of Comprehensive Income-Gross and Net of Tax



Nine Months 2013
($ in thousands)	Gross			Tax		Net
Net income	$	108,019		26,936		81,083
Components of OCI:
Unrealized losses on investment securities:
Unrealized holding losses during the period	(77,810		)	(27,234	)	(50,576	)
Non-credit OTTI recognized in OCI	77			27		50
Amounts reclassified into net income:
HTM securities	(1,803		)	(631	)	(1,172	)
Non-credit OTTI	14			5		9
Realized gains on AFS securities	(24,780		)	(8,673	)	(16,107	)
Net unrealized losses	(104,302		)	(36,506	)	(67,796	)
Defined benefit pension and post-retirement plans:
Net actuarial gain	44,000			15,400		28,600
Amounts reclassified into net income:
Net actuarial loss	3,419			1,197		2,222
Prior service cost	10			4		6
Curtailment expense	16			5		11
Defined benefit pension and post-retirement plans	47,445			16,606		30,839
Other comprehensive loss	(56,857		)	(19,900	)	(36,957	)
Comprehensive income	$	51,162		7,036		44,126



Nine Months 2012
($ in thousands)	Gross			Tax		Net
Net income	$	42,813		6,158		36,655
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	64,273			22,496		41,777
Non-credit OTTI recognized in OCI	2,241			784		1,457
Amounts reclassified into net income:
HTM securities	(1,901		)	(665	)	(1,236	)
Non-credit OTTI	272			95		177
Realized gains on AFS securities	(3,451		)	(1,208	)	(2,243	)
Net unrealized gains	61,434			21,502		39,932
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
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
Other comprehensive income	65,719			23,002		42,717
Comprehensive income	$	108,532		29,160		79,372



Third Quarter 2013
($ in thousands)	Gross			Tax		Net
Net income	$	44,485		11,832		32,653
Components of OCI:
Unrealized losses on investment securities:
Unrealized gains during the period	9,820			3,437		6,383
Amounts reclassified into net income:
HTM securities	(472		)	(165	)	(307	)
Non-credit OTTI	1			—		1
Realized gains on AFS securities	(13,516		)	(4,731	)	(8,785	)
Net unrealized losses	(4,167		)	(1,459	)	(2,708	)
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	790			277		513
Defined benefit pension and post-retirement plans	790			277		513
Other comprehensive loss	(3,377		)	(1,182	)	(2,195	)
Comprehensive income	$	41,108		10,650		30,458



Third Quarter 2012
($ in thousands)	Gross			Tax		Net
Net income	$	20,314		2,040		18,274
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	36,620			12,817		23,803
Non-credit OTTI recognized in OCI	2,023			708		1,315
Amounts reclassified into net income:
HTM securities	(336		)	(117	)	(219	)
Non-credit OTTI	9			3		6
Realized losses on AFS securities	1,037			363		674
Net unrealized gains	39,353			13,774		25,579
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	1,391			487		904
Prior service cost	38			14		24
Defined benefit pension and post-retirement plans	1,429			501		928
Other comprehensive income	40,782			14,275		26,507
Comprehensive income	$	61,096		16,315		44,781

Components of Accumulated Other Comprehensive Income



September 30, 2013	Net Unrealized (Loss) Gain on Investment Securities
($ in thousands)	OTTI Related			HTM Related		All Other		Investments Subtotal		Defined Benefit Pension and Post-Retirement Plans		Total AOCI
Balance, December 31, 2012	$	(1,658	)	2,594		121,391		122,327		(68,287	)	54,040
OCI before reclassifications	50			(103	)	(50,473	)	(50,526	)	28,600		(21,926	)
Amounts reclassified from AOCI	9			(1,172	)	(16,107	)	(17,270	)	2,239		(15,031	)
Net current period OCI	59			(1,275	)	(66,580	)	(67,796	)	30,839		(36,957	)
Balance, September 30, 2013	$	(1,599	)	1,319		54,811		54,531		(37,448	)	17,083

Reclassification Out Of Accumulated Other Comprehensive Income



	Amount Reclassified from AOCI						Affected Line Item in the Unaudited Consolidated Statement of Income
($ in thousands)	Quarter ended September 30, 2013			Nine Months ended September 30, 2013
OTTI related
Amortization of non-credit OTTI losses on HTM securities
	$	1		14			Net investment income earned
	1			14			Income (loss) from continuing operations, before federal income tax
	—			(5		)	Total federal income tax expense (benefit)
	1			9			Net income
HTM related
Unrealized gains and losses on HTM disposals	(19		)	(170		)	Net realized investment gains
Amortization of net unrealized gains on HTM securities	(453		)	(1,633		)	Net investment income earned
	(472		)	(1,803		)	Income (loss) from continuing operations, before federal income tax
	165			631			Total federal income tax expense (benefit)
	(307		)	(1,172		)	Net income
Realized gains and losses on AFS
Realized gains and losses on AFS disposals	(13,516		)	(24,780		)	Net realized investments gains
	(13,516		)	(24,780		)	Income (loss) from continuing operations, before federal income tax
	4,731			8,673			Total federal income tax expense (benefit)
	(8,785		)	(16,107		)	Net income
Defined benefit pension and post-retirement life plans
Net actuarial loss	159			717			Loss and loss expense incurred
	631			2,702			Policy acquisition costs
	790			3,419			Income (loss) from continuing operations, before federal income tax

Prior service cost	—			7			Loss and loss expense incurred
	—			3			Policy acquisition costs
	—			10			Income (loss) from continuing operations, before federal income tax

Curtailment expense	—			16			Policy acquisition costs
	—			16			Income (loss) from continuing operations, before federal income tax

Total defined benefit pension and post-retirement life	790			3,445			Income (loss) from continuing operations, before federal income tax
	(277		)	(1,206		)	Total federal income tax expense (benefit)
	513			2,239			Net income

Total reclassifications for the period	$	(8,578	)	$	(15,031	)	Net income