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Comprehensive Income (Tables) | 6 Months Ended
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Jun. 30, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Schedule of Components of Comprehensive Income-Gross and Net of Tax |
Second Quarter 2021 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 153,198 |  |  | 31,315 |  |  | 121,883 |
Components of OCI: |  |  |  |  |  |
Unrealized gains on investment securities: |  |  |  |  |  |
Unrealized holding gains during the period |  | 35,553 |  |  | 7,467 |  |  | 28,086 |
Unrealized gains on securities with credit loss recognized in earnings |  | 9,985 |  |  | 2,097 |  |  | 7,888 |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (3) |  |  | (1) |  |  | (2) |
Net realized losses on disposals and losses on intent-to-sell AFS securities |  | 58 |  |  | 12 |  |  | 46 |
Credit loss benefit |  | (2,272) |  |  | (477) |  |  | (1,795) |
Total unrealized gains on investment securities |  | 43,321 |  |  | 9,098 |  |  | 34,223 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial loss |  | 693 |  |  | 145 |  |  | 548 |
Total defined benefit pension and post-retirement plans |  | 693 |  |  | 145 |  |  | 548 |
Other comprehensive income |  | 44,014 |  |  | 9,243 |  |  | 34,771 |
Comprehensive income |  | $ | 197,212 |  |  | 40,558 |  |  | 156,654 |
Second Quarter 2020 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 42,693 |  |  | 8,510 |  |  | 34,183 |
Components of OCI: |  |  |  |  |  |
Unrealized gains on investment securities: |  |  |  |  |  |
Unrealized holding gains during the period |  | 188,768 |  |  | 39,641 |  |  | 149,127 |
Unrealized gains on securities with credit loss recognized in earnings |  | 37,479 |  |  | 7,871 |  |  | 29,608 |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (31) |  |  | (6) |  |  | (25) |
Net realized gains on disposals and losses on intent-to-sell AFS securities |  | (1,686) |  |  | (354) |  |  | (1,332) |
Credit loss benefit |  | (4,924) |  |  | (1,034) |  |  | (3,890) |
Total unrealized gains on investment securities |  | 219,606 |  |  | 46,118 |  |  | 173,488 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial loss |  | 753 |  |  | 158 |  |  | 595 |
Total defined benefit pension and post-retirement plans |  | 753 |  |  | 158 |  |  | 595 |
Other comprehensive income |  | 220,359 |  |  | 46,276 |  |  | 174,083 |
Comprehensive income |  | $ | 263,052 |  |  | 54,786 |  |  | 208,266 |
Six Months 2021 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 288,830 |  |  | 57,677 |  |  | 231,153 |
Components of OCI: |  |  |  |  |  |
Unrealized losses on investment securities: |  |  |  |  |  |
Unrealized holding losses during the period |  | (67,755) |  |  | (14,228) |  |  | (53,527) |
Unrealized losses on securities with credit loss recognized in earnings |  | (1,335) |  |  | (280) |  |  | (1,055) |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (5) |  |  | (1) |  |  | (4) |
Net realized losses on disposals and losses on intent-to-sell AFS securities |  | 662 |  |  | 139 |  |  | 523 |
Credit loss expense |  | 2,725 |  |  | 572 |  |  | 2,153 |
Total unrealized losses on investment securities |  | (65,708) |  |  | (13,798) |  |  | (51,910) |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial loss |  | 1,386 |  |  | 291 |  |  | 1,095 |
Total defined benefit pension and post-retirement plans |  | 1,386 |  |  | 291 |  |  | 1,095 |
Other comprehensive loss |  | (64,322) |  |  | (13,507) |  |  | (50,815) |
Comprehensive income |  | $ | 224,508 |  |  | 44,170 |  |  | 180,338 |
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 |
Unrealized losses on securities with credit loss recognized in earnings |  | (27,911) |  |  | (5,861) |  |  | (22,050) |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (6) |  |  | (1) |  |  | (5) |
Net realized losses on disposals and losses on intent-to-sell AFS securities |  | 9,641 |  |  | 2,025 |  |  | 7,616 |
Credit loss expense |  | 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 |
Schedule of Components of Accumulated Other Comprehensive Income Net of Tax |
June 30, 2021 |  |  |  | Defined Benefit Pension and Post-Retirement Plans |  |
|  | Net Unrealized (Losses) Gains on Investment Securities |  |  | Total AOCI
($ in thousands) |  | Credit Loss Related 1 |  | HTM Related |  | All Other |  | Investments Subtotal |  |
Balance, December 31, 2020 |  | $ | (2,546) |  |  | 6 |  |  | 307,790 |  |  | 305,250 |  |  | (85,064) |  |  | 220,186 |
OCI before reclassifications |  | (1,055) |  |  | — |  |  | (53,527) |  |  | (54,582) |  |  | — |  |  | (54,582) |
Amounts reclassified from AOCI |  | 2,153 |  |  | (4) |  |  | 523 |  |  | 2,672 |  |  | 1,095 |  |  | 3,767 |
Net current period OCI |  | 1,098 |  |  | (4) |  |  | (53,004) |  |  | (51,910) |  |  | 1,095 |  |  | (50,815) |
Balance, June 30, 2021 |  | $ | (1,448) |  |  | 2 |  |  | 254,786 |  |  | 253,340 |  |  | (83,969) |  |  | 169,371 |
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) |  | 2021 |  | 2020 |  | 2021 |  | 2020
HTM related |  |  |  |  |  |  |  |  |
Unrealized losses on HTM disposals |  | $ | — |  |  | — |  |  | $ | — |  |  | 1 |  | Net realized and unrealized investment gains (losses)
Amortization of net unrealized gains on HTM securities |  | (3) |  |  | (31) |  |  | (5) |  |  | (7) |  | Net investment income earned
|  | (3) |  |  | (31) |  |  | (5) |  |  | (6) |  | Income before federal income tax
|  | 1 |  |  | 6 |  |  | 1 |  |  | 1 |  | Total federal income tax expense
|  | (2) |  |  | (25) |  |  | (4) |  |  | (5) |  | Net income
Net realized losses (gains) on disposals and intent-to-sell AFS securities |  |  |  |  |  |  |  |  |
Net realized losses (gains) on disposals and intent-to-sell AFS securities |  | 58 |  |  | (1,686) |  |  | 662 |  |  | 9,641 |  | Net realized and unrealized investment gains (losses)
|  | 58 |  |  | (1,686) |  |  | 662 |  |  | 9,641 |  | Income before federal income tax
|  | (12) |  |  | 354 |  |  | (139) |  |  | (2,025) |  | Total federal income tax expense
|  | 46 |  |  | (1,332) |  |  | 523 |  |  | 7,616 |  | Net income
Credit loss related |  |  |  |  |  |  |  |  |
Credit loss (benefit) expense |  | (2,272) |  |  | (4,924) |  |  | 2,725 |  |  | 10,863 |  | Net realized and unrealized investment gains (losses)
|  | (2,272) |  |  | (4,924) |  |  | 2,725 |  |  | 10,863 |  | Income before federal income tax
|  | 477 |  |  | 1,034 |  |  | (572) |  |  | (2,281) |  | Total federal income tax expense
|  | (1,795) |  |  | (3,890) |  |  | 2,153 |  |  | 8,582 |  | Net income
Defined benefit pension and post-retirement life plans |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 160 |  |  | 162 |  |  | 319 |  |  | 324 |  | Loss and loss expense incurred
|  | 533 |  |  | 591 |  |  | 1,067 |  |  | 1,183 |  | Other insurance expenses
Total defined benefit pension and post-retirement life |  | 693 |  |  | 753 |  |  | 1,386 |  |  | 1,507 |  | Income before federal income tax
|  | (145) |  |  | (158) |  |  | (291) |  |  | (316) |  | Total federal income tax expense
|  | 548 |  |  | 595 |  |  | 1,095 |  |  | 1,191 |  | Net income
Total reclassifications for the period |  | $ | (1,203) |  |  | (4,652) |  |  | $ | 3,767 |  |  | 17,384 |  | Net income

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