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Comprehensive Income (Tables) | 6 Months Ended
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Jun. 30, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Schedule of Components of Comprehensive Income-Gross and Net of Tax |
Second Quarter 2022 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 49,904 |  |  | 10,384 |  |  | 39,520 |
Components of OCI: |  |  |  |  |  |
Unrealized losses on investment securities: |  |  |  |  |  |
Unrealized holding losses during the period |  | (222,903) |  |  | (46,810) |  |  | (176,093) |
Unrealized losses on securities with credit loss recognized in earnings |  | (72,691) |  |  | (15,264) |  |  | (57,427) |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | — |  |  | — |  |  | — |
Net realized losses on disposals and intent-to-sell AFS securities |  | 18,170 |  |  | 3,816 |  |  | 14,354 |
Credit loss expense |  | 15,519 |  |  | 3,258 |  |  | 12,261 |
Total unrealized losses on investment securities |  | (261,905) |  |  | (55,000) |  |  | (206,905) |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial loss |  | 417 |  |  | 87 |  |  | 330 |
Total defined benefit pension and post-retirement plans |  | 417 |  |  | 87 |  |  | 330 |
Other comprehensive loss |  | (261,488) |  |  | (54,913) |  |  | (206,575) |
Comprehensive loss |  | $ | (211,584) |  |  | (44,529) |  |  | (167,055) |
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 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 |
Six Months 2022 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 119,794 |  |  | 23,944 |  |  | 95,850 |
Components of OCI: |  |  |  |  |  |
Unrealized losses on investment securities: |  |  |  |  |  |
Unrealized holding losses during the period |  | (484,735) |  |  | (101,794) |  |  | (382,941) |
Unrealized losses on securities with credit loss recognized in earnings |  | (159,312) |  |  | (33,455) |  |  | (125,857) |
Amounts reclassified into net income: |  |  |  |  |  |
HTM securities |  | 1 |  |  | — |  |  | 1 |
Net realized losses on disposals and intent-to-sell AFS securities |  | 34,161 |  |  | 7,174 |  |  | 26,987 |
Credit loss expense |  | 37,571 |  |  | 7,889 |  |  | 29,682 |
Total unrealized losses on investment securities |  | (572,314) |  |  | (120,186) |  |  | (452,128) |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial loss |  | 834 |  |  | 175 |  |  | 659 |
Total defined benefit pension and post-retirement plans |  | 834 |  |  | 175 |  |  | 659 |
Other comprehensive loss |  | (571,480) |  |  | (120,011) |  |  | (451,469) |
Comprehensive income |  | $ | (451,686) |  |  | (96,067) |  |  | (355,619) |
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 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 |
Schedule of Components of Accumulated Other Comprehensive Income Net of Tax |
June 30, 2022 |  | Net Unrealized (Losses) Gains on Investment Securities |  | Defined Benefit Pension and Post-Retirement Plans |  | Total AOCI
($ in thousands) |  | Credit Loss Related 1 |  | HTM Related |  | All Other |  | Investments Subtotal |  |
Balance, December 31, 2021 |  | $ | (4,287) |  |  | (3) |  |  | 185,170 |  |  | 180,880 |  |  | (65,781) |  |  | 115,099 |
OCI before reclassifications |  | (125,857) |  |  | — |  |  | (382,941) |  |  | (508,798) |  |  | — |  |  | (508,798) |
Amounts reclassified from AOCI |  | 29,682 |  |  | 1 |  |  | 26,987 |  |  | 56,670 |  |  | 659 |  |  | 57,329 |
Net current period OCI |  | (96,175) |  |  | 1 |  |  | (355,954) |  |  | (452,128) |  |  | 659 |  |  | (451,469) |
Balance, June 30, 2022 |  | $ | (100,462) |  |  | (2) |  |  | (170,784) |  |  | (271,248) |  |  | (65,122) |  |  | (336,370) |
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) |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
HTM related |  |  |  |  |  |  |  |  |  |
Unrealized (gains) losses on HTM disposals |  | $ | — |  |  | — |  |  | $ | — |  |  | — |  |  | Net realized and unrealized investment (losses) gains
Amortization of net unrealized (gains) losses on HTM securities |  | — |  |  | (3) |  |  | 1 |  |  | (5) |  |  | Net investment income earned
|  | — |  |  | (3) |  |  | 1 |  |  | (5) |  |  | Income before federal income tax
|  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | Total federal income tax expense
|  | — |  |  | (2) |  |  | 1 |  |  | (4) |  |  | Net income
Net realized losses on disposals and intent-to-sell AFS securities |  |  |  |  |  |  |  |  |  |
Net realized losses on disposals and intent-to-sell AFS securities |  | 18,170 |  |  | 58 |  |  | 34,161 |  |  | 662 |  |  | Net realized and unrealized investment (losses) gains
|  | 18,170 |  |  | 58 |  |  | 34,161 |  |  | 662 |  |  | Income before federal income tax
|  | (3,816) |  |  | (12) |  |  | (7,174) |  |  | (139) |  |  | Total federal income tax expense
|  | 14,354 |  |  | 46 |  |  | 26,987 |  |  | 523 |  |  | Net income
Credit loss related |  |  |  |  |  |  |  |  |  |
Credit loss expense (benefit) |  | 15,519 |  |  | (2,272) |  |  | 37,571 |  |  | 2,725 |  |  | Net realized and unrealized investment (losses) gains
|  | 15,519 |  |  | (2,272) |  |  | 37,571 |  |  | 2,725 |  |  | Income before federal income tax
|  | (3,258) |  |  | 477 |  |  | (7,889) |  |  | (572) |  |  | Total federal income tax expense
|  | 12,261 |  |  | (1,795) |  |  | 29,682 |  |  | 2,153 |  |  | Net income
Defined benefit pension and post-retirement life plans |  |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 84 |  |  | 160 |  |  | 180 |  |  | 319 |  |  | Loss and loss expense incurred
|  | 333 |  |  | 533 |  |  | 654 |  |  | 1,067 |  |  | Other insurance expenses
Total defined benefit pension and post-retirement life |  | 417 |  |  | 693 |  |  | 834 |  |  | 1,386 |  |  | Income before federal income tax
|  | (87) |  |  | (145) |  |  | (175) |  |  | (291) |  |  | Total federal income tax expense
|  | 330 |  |  | 548 |  |  | 659 |  |  | 1,095 |  |  | Net income
Total reclassifications for the period |  | $ | 26,945 |  |  | (1,203) |  |  | $ | 57,329 |  |  | 3,767 |  |  | Net income

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