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Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Schedule of Components of Comprehensive Income-Gross and Net of Tax

Six Months 2020
 
 
 
 
 
 
($ in thousands)
 
Gross
 
Tax
 
Net
Net income
 
$
58,690

 
9,271

 
49,419

Components of OCI:
 
 

 
 

 
 

Unrealized gains on investment securities:
 
 

 
 

 
 

Unrealized holding gains during the period
 
94,787

 
19,905

 
74,882

Non-credit portion of OTTI recognized in OCI
 
(27,911
)
 
(5,861
)
 
(22,050
)
Amounts reclassified into net income:
 
 
 
 
 
 
HTM securities
 
(6
)
 
(1
)
 
(5
)
Realized losses on disposals and intent-to-sell OTTI on AFS securities
 
9,641

 
2,025

 
7,616

Credit loss expense recognized in OTTI
 
10,863

 
2,281

 
8,582

    Total unrealized gains on investment securities
 
87,374

 
18,349

 
69,025

Defined benefit pension and post-retirement plans:
 
 

 
 

 
 

Amounts reclassified into net income:
 
 

 
 

 
 

Net actuarial loss
 
1,507

 
316

 
1,191

    Total defined benefit pension and post-retirement plans
 
1,507

 
316

 
1,191

Other comprehensive income
 
88,881

 
18,665

 
70,216

Comprehensive income
 
$
147,571

 
27,936

 
119,635

 
 
 
 
 
 
 
 
 
 
 
 
 
 
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


T
Schedule of Components of Accumulated Other Comprehensive Income Net of Tax
June 30, 2020
 
 
 
Defined Benefit
Pension and Post-Retirement Plans
 
 
 
 
Net Unrealized Gains (Losses) on Investment Securities
 
 
Total AOCI
($ in thousands)
 
OTTI
Related1
 
HTM
Related
 
All
Other
 
Investments
Subtotal
 
 
Balance, December 31, 2019
 
$
(71
)
 
25

 
170,439

 
170,393

 
(88,643
)
 
81,750

OCI before reclassifications
 
(22,050
)
 
—

 
74,882

 
52,832

 
—

 
52,832

Amounts reclassified from AOCI
 
8,582

 
(5
)
 
7,616

 
16,193

 
1,191

 
17,384

Net current period OCI
 
(13,468
)
 
(5
)
 
82,498

 
69,025

 
1,191

 
70,216

Balance, June 30, 2020
 
$
(13,539
)
 
20

 
252,937

 
239,418

 
(87,452
)
 
151,966
Schedule of Reclassifications Out Of Accumulated Other Comprehensive Income
 
Quarter ended June 30,
 
Six Months ended June 30,
Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands)
2020
 
2019
 
2020
 
2019
HTM related
 
 
 
 
 
 
 
 
Unrealized (gains) losses on HTM disposals
$
—

 
(9
)
 
1

 
(9
)
Net realized and unrealized gains (losses)
Amortization of net unrealized gains on HTM securities
(31
)
 
(12
)
 
(7
)
 
(21
)
Net investment income earned
 
(31
)
 
(21
)
 
(6
)
 
(30
)
Income before federal income tax
 
6

 
4

 
1

 
6

Total federal income tax expense
 
(25
)
 
(17
)
 
(5
)
 
(24
)
Net income
Net realized (gains) losses on disposals and intent-to-sell OTTI
 
 
 
 
 
 
 
 
Net realized (gains) losses on disposals and intent-to-sell OTTI
(1,686
)
 
(1,300
)
 
9,641

 
(2,377
)
Net realized and unrealized gains (losses)
 
(1,686
)
 
(1,300
)
 
9,641

 
(2,377
)
Income before federal income tax
 
354

 
273

 
(2,025
)
 
499

Total federal income tax expense
 
(1,332
)
 
(1,027
)
 
7,616

 
(1,878
)
Net income
OTTI related
 
 
 
 
 
 
 
 
    Credit loss (benefit) expense recognized in OTTI
(4,924
)
 
—

 
10,863

 
—

Net realized and unrealized gains (losses)
 
(4,924
)
 
—

 
10,863

 
—

Income before federal income tax
 
1,034

 
—

 
(2,281
)
 
—

Total federal income tax expense
 
(3,890
)
 
—

 
8,582

 
—

Net income
 
 
 
 
 
 
 
 
 
Defined benefit pension and post-retirement life plans
 
 
 
 
 
 
 
 
Net actuarial loss
162

 
145

 
324

 
290

Loss and loss expense incurred
 
591

 
519

 
1,183

 
1,038

Other insurance expenses
Total defined benefit pension and post-retirement life
753

 
664

 
1,507

 
1,328

Income before federal income tax
 
(158
)
 
(140
)
 
(316
)
 
(279
)
Total federal income tax expense
 
595

 
524

 
1,191

 
1,049

Net income
 
 
 
 
 
 
 
 
 
Total reclassifications for the period
$
(4,652
)
 
(520
)
 
17,384

 
(853
)
Net income