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Comprehensive Income
 6 Months Ended
Jun. 30, 2019
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 Ended 2019 and 2018 were as follows:
Second Quarter 2019
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
90,225

 
17,959

 
72,266

Components of OCI:
 
 

 
 

 
 

Unrealized gains on investment securities:
 
 

 
 

 
 

Unrealized holding gains during the period
 
83,546

 
17,544

 
66,002

Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(21
)
 
(4
)
 
(17
)
Realized gains on disposals and OTTI of AFS securities
 
(1,300
)
 
(273
)
 
(1,027
)
    Total unrealized gains on investment securities
 
82,225

 
17,267

 
64,958

Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Amounts reclassified into net income:
 
 

 
 

 
 

Net actuarial loss
 
664

 
140

 
524

    Total defined benefit pension and post-retirement plans
 
664

 
140

 
524

Other comprehensive income
 
82,889

 
17,407

 
65,482

Comprehensive income
 
$
173,114

 
35,366

 
137,748

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Second Quarter 2018
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
72,525

 
13,706

 
58,819

Components of other comprehensive loss:
 
 

 
 

 
 

Unrealized losses on investment securities:
 
 

 
 

 
 

Unrealized holding losses during the period
 
(23,993
)
 
(5,038
)
 
(18,955
)
Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(8
)
 
(2
)
 
(6
)
Realized losses on disposals and OTTI of AFS securities
 
2,870

 
603

 
2,267

    Total unrealized losses on investment securities
 
(21,131
)
 
(4,437
)
 
(16,694
)
Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Amounts reclassified into net income:
 
 

 
 

 
 

Net actuarial loss
 
531

 
111

 
420

    Total defined benefit pension and post-retirement plans
 
531

 
111

 
420

Other comprehensive loss
 
(20,600
)
 
(4,326
)
 
(16,274
)
Comprehensive income
 
$
51,925

 
9,380

 
42,545



Six Months 2019
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
163,919

 
30,305

 
133,614

Components of OCI:
 
 

 
 
 
 
Unrealized gains on investment securities:
 
 

 
 
 
 
Unrealized holding gains during the period
 
186,472

 
39,157

 
147,315

Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(30
)
 
(6
)
 
(24
)
Realized gains on disposals and OTTI of AFS securities
 
(2,377
)
 
(499
)
 
(1,878
)
    Total unrealized gains on investment securities
 
184,065

 
38,652

 
145,413

Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Amounts reclassified into net income:
 
 

 
 
 
 
Net actuarial loss
 
1,328

 
279

 
1,049

    Total defined benefit pension and post-retirement plans
 
1,328

 
279

 
1,049

Other comprehensive income
 
185,393

 
38,931

 
146,462

Comprehensive income
 
$
349,312

 
69,236

 
280,076

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months 2018
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
92,456

 
14,712

 
77,744

Components of other comprehensive loss:
 
 

 
 
 
 
Unrealized losses on investment securities:
 
 

 
 
 
 
Unrealized holding losses during the period
 
(109,308
)
 
(22,955
)
 
(86,353
)
Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(20
)
 
(4
)
 
(16
)
Realized losses on disposals and OTTI of AFS securities
 
7,419

 
1,558

 
5,861

    Total unrealized losses on investment securities
 
(101,909
)
 
(21,401
)
 
(80,508
)
Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Amounts reclassified into net income:
 
 

 
 
 
 
Net actuarial loss
 
1,063

 
223

 
840

    Total defined benefit pension and post-retirement plans
 
1,063

 
223

 
840

Other comprehensive loss
 
(100,846
)
 
(21,178
)
 
(79,668
)
Comprehensive loss
 
$
(8,390
)
 
(6,466
)
 
(1,924
)
 
 
 
 
 
 
 


The balances of, and changes in, each component of AOCI (net of taxes) as of June 30, 2019 were as follows:
June 30, 2019
 
 
 
Defined Benefit
Pension and Post-Retirement Plans
 
 
 
 
Net Unrealized Gains (Losses) on Investment Securities
 
 
Total AOCI
($ in thousands)
 
OTTI
Related
 
HTM
Related
 
All
Other
 
Investments
Subtotal
 
 
Balance, December 31, 2018
 
$
(71
)
 
71

 
1,888

 
1,888

 
(79,844
)
 
(77,956
)
OCI before reclassifications
 
—

 
—

 
147,315

 
147,315

 
—

 
147,315

Amounts reclassified from AOCI
 
—

 
(24
)
 
(1,878
)
 
(1,902
)
 
1,049

 
(853
)
Net current period OCI
 
—

 
(24
)
 
145,437

 
145,413

 
1,049

 
146,462

Balance, June 30, 2019
 
$
(71
)
 
47

 
147,325

 
147,301

 
(78,795
)
 
68,506



The reclassifications out of AOCI were as follows:
 
Quarter ended June 30,
 
Six Months ended June 30,
Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands)
2019
 
2018
 
2019
 
2018
HTM related
 
 
 
 
 
 
 
 
Unrealized losses on HTM disposals
$
(9
)
 
(7
)
 
(9
)
 
(6
)
Net realized and unrealized gains (losses)
Amortization of net unrealized gains on HTM securities
(12
)
 
(1
)
 
(21
)
 
(14
)
Net investment income earned
 
(21
)
 
(8
)
 
(30
)
 
(20
)
Income before federal income tax
 
4

 
2

 
6

 
4

Total federal income tax expense
 
(17
)
 
(6
)
 
(24
)
 
(16
)
Net income
Realized (gains) losses on AFS and OTTI
 
 
 
 
 
 
 
 
Realized (gains) losses on AFS disposals and OTTI
(1,300
)
 
2,870

 
(2,377
)
 
7,419

Net realized and unrealized gains (losses)
 
(1,300
)
 
2,870

 
(2,377
)
 
7,419

Income before federal income tax
 
273

 
(603
)
 
499

 
(1,558
)
Total federal income tax expense
 
(1,027
)
 
2,267

 
(1,878
)
 
5,861

Net income
Defined benefit pension and post-retirement life plans
 
 
 
 
 
 
 
 
Net actuarial loss
145

 
113

 
290

 
225

Loss and loss expense incurred
 
519

 
418

 
1,038

 
838

Other insurance expenses
Total defined benefit pension and post-retirement life
664

 
531

 
1,328

 
1,063

Income before federal income tax
 
(140
)
 
(111
)
 
(279
)
 
(223
)
Total federal income tax expense
 
524

 
420

 
1,049

 
840

Net income
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
$
(520
)
 
2,681

 
(853
)
 
6,685

Net income