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Comprehensive Income (Tables)

6 Months Ended

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 Related1						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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- Definition

Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669686-108580

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

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- Definition

Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121641772&loc=d3e526-108580

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