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Comprehensive Income (Tables) | 9 Months Ended
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Sep. 30, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Schedule of Components of Comprehensive Income-Gross and Net of Tax |
Third Quarter 2021 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 92,636 |  |  | 18,931 |  |  | 73,705 |
Components of OCI: |  |  |  |  |  |
Unrealized losses on investment securities: |  |  |  |  |  |
Unrealized holding losses during the period |  | (35,285) |  |  | (7,410) |  |  | (27,875) |
Unrealized losses on securities with credit loss recognized in earnings |  | (2,343) |  |  | (492) |  |  | (1,851) |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | 1 |  |  | — |  |  | 1 |
Net realized gains on disposals and losses on intent-to-sell AFS securities |  | (1,296) |  |  | (272) |  |  | (1,024) |
Credit loss expense |  | 1,334 |  |  | 280 |  |  | 1,054 |
Total unrealized losses on investment securities |  | (37,589) |  |  | (7,894) |  |  | (29,695) |
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 loss |  | (36,896) |  |  | (7,749) |  |  | (29,147) |
Comprehensive income |  | $ | 55,740 |  |  | 11,182 |  |  | 44,558 |
Third Quarter 2020 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 85,257 |  |  | 15,382 |  |  | 69,875 |
Components of OCI: |  |  |  |  |  |
Unrealized gains on investment securities: |  |  |  |  |  |
Unrealized holding gains during the period |  | 37,836 |  |  | 7,947 |  |  | 29,889 |
Unrealized gains on securities with credit loss recognized in earnings |  | 9,239 |  |  | 1,940 |  |  | 7,299 |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (1) |  |  | (1) |  |  | — |
Net realized gains on disposals and losses on intent-to-sell AFS securities |  | (515) |  |  | (109) |  |  | (406) |
Credit loss benefit |  | (2,853) |  |  | (599) |  |  | (2,254) |
Total unrealized gains on investment securities |  | 43,706 |  |  | 9,178 |  |  | 34,528 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial loss |  | 754 |  |  | 158 |  |  | 596 |
Total defined benefit pension and post-retirement plans |  | 754 |  |  | 158 |  |  | 596 |
Other comprehensive income |  | 44,460 |  |  | 9,336 |  |  | 35,124 |
Comprehensive income |  | $ | 129,717 |  |  | 24,718 |  |  | 104,999 |
Nine Months 2021 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 381,466 |  |  | 76,608 |  |  | 304,858 |
Components of OCI: |  |  |  |  |  |
Unrealized losses on investment securities: |  |  |  |  |  |
Unrealized holding losses during the period |  | (103,040) |  |  | (21,638) |  |  | (81,402) |
Unrealized losses on securities with credit loss recognized in earnings |  | (3,678) |  |  | (772) |  |  | (2,906) |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (4) |  |  | (1) |  |  | (3) |
Net realized gains on disposals and losses on intent-to-sell AFS securities |  | (634) |  |  | (133) |  |  | (501) |
Credit loss expense |  | 4,059 |  |  | 852 |  |  | 3,207 |
Total unrealized losses on investment securities |  | (103,297) |  |  | (21,692) |  |  | (81,605) |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial loss |  | 2,079 |  |  | 436 |  |  | 1,643 |
Total defined benefit pension and post-retirement plans |  | 2,079 |  |  | 436 |  |  | 1,643 |
Other comprehensive loss |  | (101,218) |  |  | (21,256) |  |  | (79,962) |
Comprehensive income |  | $ | 280,248 |  |  | 55,352 |  |  | 224,896 |
Nine Months 2020 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 143,947 |  |  | 24,653 |  |  | 119,294 |
Components of OCI: |  |  |  |  |  |
Unrealized gains on investment securities: |  |  |  |  |  |
Unrealized holding gains during the period |  | 132,623 |  |  | 27,852 |  |  | 104,771 |
Unrealized losses on securities with credit loss recognized in earnings |  | (18,672) |  |  | (3,921) |  |  | (14,751) |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | (7) |  |  | (2) |  |  | (5) |
Net realized losses on disposals and losses on intent-to-sell AFS securities |  | 9,126 |  |  | 1,916 |  |  | 7,210 |
Credit loss expense |  | 8,010 |  |  | 1,682 |  |  | 6,328 |
Total unrealized gains on investment securities |  | 131,080 |  |  | 27,527 |  |  | 103,553 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial loss |  | 2,261 |  |  | 474 |  |  | 1,787 |
Total defined benefit pension and post-retirement plans |  | 2,261 |  |  | 474 |  |  | 1,787 |
Other comprehensive income |  | 133,341 |  |  | 28,001 |  |  | 105,340 |
Comprehensive income |  | $ | 277,288 |  |  | 52,654 |  |  | 224,634 |
Schedule of Components of Accumulated Other Comprehensive Income Net of Tax |
September 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 |  | (2,906) |  |  | — |  |  | (81,402) |  |  | (84,308) |  |  | — |  |  | (84,308) |
Amounts reclassified from AOCI |  | 3,207 |  |  | (3) |  |  | (501) |  |  | 2,703 |  |  | 1,643 |  |  | 4,346 |
Net current period OCI |  | 301 |  |  | (3) |  |  | (81,903) |  |  | (81,605) |  |  | 1,643 |  |  | (79,962) |
Balance, September 30, 2021 |  | $ | (2,245) |  |  | 3 |  |  | 225,887 |  |  | 223,645 |  |  | (83,421) |  |  | 140,224 |
Schedule of Reclassifications Out Of Accumulated Other Comprehensive Income |
|  | Quarter ended September 30, |  | Nine Months ended September 30, | Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
HTM related |  |  |  |  |  |  |  |  |
Unrealized (gains) losses on HTM disposals |  | $ | (1) |  |  | 4 |  |  | $ | (1) |  |  | 5 |  | Net realized and unrealized investment gains (losses)
Amortization of net unrealized losses (gains) on HTM securities |  | 2 |  |  | (5) |  |  | (3) |  |  | (12) |  | Net investment income earned
|  | 1 |  |  | (1) |  |  | (4) |  |  | (7) |  | Income before federal income tax
|  | — |  |  | 1 |  |  | 1 |  |  | 2 |  | Total federal income tax expense
|  | 1 |  |  | — |  |  | (3) |  |  | (5) |  | Net income
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  |  |  |  |  |  |  |  |
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  | (1,296) |  |  | (515) |  |  | (634) |  |  | 9,126 |  | Net realized and unrealized investment gains (losses)
|  | (1,296) |  |  | (515) |  |  | (634) |  |  | 9,126 |  | Income before federal income tax
|  | 272 |  |  | 109 |  |  | 133 |  |  | (1,916) |  | Total federal income tax expense
|  | (1,024) |  |  | (406) |  |  | (501) |  |  | 7,210 |  | Net income
Credit loss related |  |  |  |  |  |  |  |  |
Credit loss expense (benefit) |  | 1,334 |  |  | (2,853) |  |  | 4,059 |  |  | 8,010 |  | Net realized and unrealized investment gains (losses)
|  | 1,334 |  |  | (2,853) |  |  | 4,059 |  |  | 8,010 |  | Income before federal income tax
|  | (280) |  |  | 599 |  |  | (852) |  |  | (1,682) |  | Total federal income tax expense
|  | 1,054 |  |  | (2,254) |  |  | 3,207 |  |  | 6,328 |  | Net income
Defined benefit pension and post-retirement life plans |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 159 |  |  | 162 |  |  | 478 |  |  | 486 |  | Loss and loss expense incurred
|  | 534 |  |  | 592 |  |  | 1,601 |  |  | 1,775 |  | Other insurance expenses
Total defined benefit pension and post-retirement life |  | 693 |  |  | 754 |  |  | 2,079 |  |  | 2,261 |  | Income before federal income tax
|  | (145) |  |  | (158) |  |  | (436) |  |  | (474) |  | Total federal income tax expense
|  | 548 |  |  | 596 |  |  | 1,643 |  |  | 1,787 |  | Net income
Total reclassifications for the period |  | $ | 579 |  |  | (2,064) |  |  | $ | 4,346 |  |  | 15,320 |  | Net income

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