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Comprehensive Income | 6 Months Ended
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Jun. 30, 2016
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 Second Quarter and Six Months 2016 and 2015 were as follows:
Second Quarter 2016 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 62,311 |  |  | 18,710 |  |  | 43,601 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during period |  | 55,675 |  |  | 19,487 |  |  | 36,188 |
Non-credit portion of OTTI recognized in OCI |  | (10 | ) |  | (4 | ) |  | (6 | )
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (19 | ) |  | (7 | ) |  | (12 | )
Realized gains on AFS securities |  | (1,762 | ) |  | (617 | ) |  | (1,145 | )
Total unrealized gains on investment securities |  | 53,884 |  |  | 18,859 |  |  | 35,025 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 1,517 |  |  | 532 |  |  | 985 |
Total defined benefit pension and post-retirement plans |  | 1,517 |  |  | 532 |  |  | 985 |
Other comprehensive income |  | 55,401 |  |  | 19,391 |  |  | 36,010 |
Comprehensive income |  | $ | 117,712 |  |  | 38,101 |  |  | 79,611 |
Second Quarter 2015 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 46,765 |  |  | 12,997 |  |  | 33,768 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized (losses) gains on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding losses during period |  | (60,244 | ) |  | (21,084 | ) |  | (39,160 | )
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (185 | ) |  | (65 | ) |  | (120 | )
Realized losses on AFS securities |  | 3,422 |  |  | 1,197 |  |  | 2,225 |
Total unrealized losses on investment securities |  | (57,007 | ) |  | (19,952 | ) |  | (37,055 | )
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 1,709 |  |  | 598 |  |  | 1,111 |
Total defined benefit pension and post-retirement plans |  | 1,709 |  |  | 598 |  |  | 1,111 |
Other comprehensive loss |  | (55,298 | ) |  | (19,354 | ) |  | (35,944 | )
Comprehensive loss |  | $ | (8,533 | ) |  | (6,357 | ) |  | (2,176 | )
Six Months 2016 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 114,186 |  |  | 33,553 |  |  | 80,633 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized gains on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding gains during period |  | 121,412 |  |  | 42,495 |  |  | 78,917 |
Non-credit portion of OTTI recognized in OCI |  | (10 | ) |  | (4 | ) |  | (6 | )
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (91 | ) |  | (32 | ) |  | (59 | )
Realized losses on AFS securities |  | 937 |  |  | 328 |  |  | 609 |
Total unrealized gains on investment securities |  | 122,248 |  |  | 42,787 |  |  | 79,461 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 3,033 |  |  | 1,062 |  |  | 1,971 |
Total defined benefit pension and post-retirement plans |  | 3,033 |  |  | 1,062 |  |  | 1,971 |
Other comprehensive income |  | 125,281 |  |  | 43,849 |  |  | 81,432 |
Comprehensive income |  | $ | 239,467 |  |  | 77,402 |  |  | 162,065 |
Six Months 2015 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 103,055 |  |  | 29,579 |  |  | 73,476 |
Components of OCI: |  |  |  |  |  |  |  |  |
Unrealized (losses) gains on investment securities: |  |  |  |  |  |  |  |  |
Unrealized holding losses during period |  | (36,267 | ) |  | (12,693 | ) |  | (23,574 | )
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (446 | ) |  | (156 | ) |  | (290 | )
Non-credit OTTI |  | 357 |  |  | 125 |  |  | 232 |
Realized gains on AFS securities |  | (16,473 | ) |  | (5,766 | ) |  | (10,707 | )
Total unrealized losses on investment securities |  | (52,829 | ) |  | (18,490 | ) |  | (34,339 | )
Defined benefit pension and post-retirement plans: |  |  |  |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 3,418 |  |  | 1,196 |  |  | 2,222 |
Total defined benefit pension and post-retirement plans |  | 3,418 |  |  | 1,196 |  |  | 2,222 |
Other comprehensive loss |  | (49,411 | ) |  | (17,294 | ) |  | (32,117 | )
Comprehensive income |  | $ | 53,644 |  |  | 12,285 |  |  | 41,359 |
The balances of, and changes in, each component of AOCI (net of taxes) as of June 30, 2016 were as follows:
June 30, 2016 |  |  |  |  |  |
|  | Net Unrealized Gain on Investment Securities |  | Defined Benefit Pension and Post-Retirement Plans |  | Total AOCI
($ in thousands) |  | OTTI Related |  | HTM Related |  | All Other |  | Investments Subtotal |  |
Balance, December 31, 2015 |  | $ | (282 | ) |  | 194 |  |  | 45,083 |  |  | 44,995 |  |  | (54,420 | ) |  | (9,425 | )
OCI before reclassifications |  | (6 | ) |  | — |  |  | 78,917 |  |  | 78,911 |  |  | — |  |  | 78,911 |
Amounts reclassified from AOCI |  | — |  |  | (59 | ) |  | 609 |  |  | 550 |  |  | 1,971 |  |  | 2,521 |
Net current period OCI |  | (6 | ) |  | (59 | ) |  | 79,526 |  |  | 79,461 |  |  | 1,971 |  |  | 81,432 |
Balance, June 30, 2016 |  | $ | (288 | ) |  | 135 |  |  | 124,609 |  |  | 124,456 |  |  | (52,449 | ) |  | 72,007 |
The reclassifications out of AOCI were as follows:
| Quarter ended June 30, |  | Six Months ended June 30, | Affected Line Item in the Unaudited Consolidated Statement of Income
($ in thousands) | 2016 |  | 2015 |  | 2016 |  | 2015
OTTI related |  |  |  |  |  |  |  |
Non-credit OTTI on disposed securities | $ | — |  |  | — |  |  | — |  |  | 357 |  | Net realized gains (losses)
| — |  |  | — |  |  | — |  |  | 357 |  | Income before federal income tax
| — |  |  | — |  |  | — |  |  | (125 | ) | Total federal income tax expense
| — |  |  | — |  |  | — |  |  | 232 |  | Net income
HTM related |  |  |  |  |  |  |  |
Unrealized losses on HTM disposals | 60 |  |  | 87 |  |  | 88 |  |  | 137 |  | Net realized gains (losses)
Amortization of net unrealized gains on HTM securities | (79 | ) |  | (272 | ) |  | (179 | ) |  | (583 | ) | Net investment income earned
| (19 | ) |  | (185 | ) |  | (91 | ) |  | (446 | ) | Income before federal income tax
| 7 |  |  | 65 |  |  | 32 |  |  | 156 |  | Total federal income tax expense
| (12 | ) |  | (120 | ) |  | (59 | ) |  | (290 | ) | Net income
Realized losses (gains) on AFS and OTTI |  |  |  |  |  |  |  |
Realized losses (gains) on AFS disposals and OTTI | (1,762 | ) |  | 3,422 |  |  | 937 |  |  | (16,473 | ) | Net realized gains (losses)
| (1,762 | ) |  | 3,422 |  |  | 937 |  |  | (16,473 | ) | Income before federal income tax
| 617 |  |  | (1,197 | ) |  | (328 | ) |  | 5,766 |  | Total federal income tax expense
| (1,145 | ) |  | 2,225 |  |  | 609 |  |  | (10,707 | ) | Net income
Defined benefit pension and post-retirement life plans |  |  |  |  |  |  |  |
Net actuarial loss | 329 |  |  | 372 |  |  | 658 |  |  | 743 |  | Loss and loss expense incurred
| 1,188 |  |  | 1,337 |  |  | 2,375 |  |  | 2,675 |  | Policy acquisition costs
Total defined benefit pension and post-retirement life | 1,517 |  |  | 1,709 |  |  | 3,033 |  |  | 3,418 |  | Income before federal income tax
| (532 | ) |  | (598 | ) |  | (1,062 | ) |  | (1,196 | ) | Total federal income tax expense
| 985 |  |  | 1,111 |  |  | 1,971 |  |  | 2,222 |  | Net income
Total reclassifications for the period | $ | (172 | ) |  | 3,216 |  |  | 2,521 |  |  | (8,543 | ) | Net income

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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 15 -URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e689-108580 Reference 2: 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=66004124&loc=SL7669619-108580 Reference 3: 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=66004124&loc=d3e640-108580 Reference 4: 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=66004124&loc=d3e716-108580 Reference 5: 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=66004124&loc=d3e709-108580 Reference 6: 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=27012166&loc=d3e187085-122770 Reference 7: 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=66004124&loc=d3e637-108580 Reference 8: 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=66004124&loc=d3e681-108580 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Reclassification Adjustments -URI http://asc.fasb.org/extlink&oid=6522872 + Details
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