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Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2022

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Components of Comprehensive Income-Gross and Net of Tax

2022
($ in thousands)						Gross						Tax						Net
Net income						$	280,186					55,300						224,886
Components of OCI:
Unrealized (losses) gains on investment securities:
Unrealized holding losses during the year						(668,107)						(140,302)						(527,805)
Unrealized losses on securities with credit loss recognized in earnings						(187,968)						(39,473)						(148,495)
Amounts reclassified into net income:
HTM securities						4						1						3
Net realized losses on disposals and intent-to-sell AFS securities						60,048						12,610						47,438
Credit loss expense						39,169						8,225						30,944
Total unrealized losses on investment securities						(756,854)						(158,939)						(597,915)
Defined benefit pension and post-retirement plans:
Net actuarial loss						(20,941)						(4,398)						(16,543)
Amounts reclassified into net income:
Net actuarial loss						1,668						351						1,317
Total defined benefit pension and post-retirement plans						(19,273)						(4,047)						(15,226)
Other comprehensive loss						(776,127)						(162,986)						(613,141)
Comprehensive loss						$	(495,941)					(107,686)						(388,255)

2021
($ in thousands)						Gross						Tax						Net
Net income						$	505,310					101,473						403,837
Components of OCI:
Unrealized (losses) gains on investment securities:
Unrealized holding losses during the year						(151,391)						(31,793)						(119,598)
Unrealized losses on securities with credit loss recognized in earnings						(9,061)						(1,902)						(7,159)
Amounts reclassified into net income:
HTM securities						(11)						(2)						(9)
Net realized gains on disposals and losses on intent-to-sell AFS securities						(3,825)						(803)						(3,022)
Credit loss expense						6,858						1,440						5,418
Total unrealized losses on investment securities						(157,430)						(33,060)						(124,370)
Defined benefit pension and post-retirement plans:
Net actuarial gain						21,636						4,543						17,093
Amounts reclassified into net income:
Net actuarial loss						2,772						582						2,190
Total defined benefit pension and post-retirement plans						24,408						5,125						19,283
Other comprehensive loss						(133,022)						(27,935)						(105,087)
Comprehensive income						$	372,288					73,538						298,750

2020
($ in thousands)						Gross						Tax						Net
Net income						$	302,988					56,633						246,355
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains during the year						168,487						35,383						133,104
Unrealized losses on securities with credit loss recognized in earnings						(8,176)						(1,717)						(6,459)
Amounts reclassified into net income:
HTM securities						(24)						(5)						(19)
Net realized losses on disposals and intent-to-sell AFS securities						5,376						1,129						4,247
Credit loss expense						5,042						1,058						3,984
Total unrealized gains on investment securities						170,705						35,848						134,857
Defined benefit pension and post-retirement plans:
Net actuarial gain						1,515						318						1,197
Amounts reclassified into net income:
Net actuarial loss						3,015						633						2,382
Total defined benefit pension and post-retirement plans						4,530						951						3,579
Other comprehensive income						175,235						36,799						138,436
Comprehensive income						$	478,223					93,432						384,791

Schedule of Components of Accumulated Other Comprehensive Income

												Net Unrealized (Losses) Gains on Investment Securities																								Defined Benefit Pension and Post-retirement Plans
($ in thousands)												Credit Loss Related1						HTM Related						All Other						Investments Subtotal												Total AOCI
Balance, December 31, 2020												$	(2,546)					6						307,790						305,250						(85,064)						220,186
OCI before reclassifications												(7,159)						—						(119,598)						(126,757)						17,093						(109,664)
Amounts reclassified from AOCI												5,418						(9)						(3,022)						2,387						2,190						4,577
Net current period OCI												(1,741)						(9)						(122,620)						(124,370)						19,283						(105,087)
Balance, December 31, 2021												(4,287)						(3)						185,170						180,880						(65,781)						115,099
OCI before reclassifications												(148,495)						—						(527,805)						(676,300)						(16,543)						(692,843)
Amounts reclassified from AOCI												30,944						3						47,438						78,385						1,317						79,702
Net current period OCI												(117,551)						3						(480,367)						(597,915)						(15,226)						(613,141)
Balance, December 31, 2022												$	(121,838)					—						(295,197)						(417,035)						(81,007)						(498,042)

1Represents change in unrealized loss on securities with credit loss recognized in earnings.

Schedule of Reclassification out of Accumulated Other Comprehensive Income

($ in thousands)						Year ended December 31, 2022						Year ended December 31, 2021						Affected Line Item in the Consolidated Statements of Income
HTM related
Unrealized gains on HTM disposals						$	(7)					(14)						Net realized and unrealized investment (losses) gains
Amortization of net unrealized losses on HTM securities						11						3						Net investment income earned
						4						(11)						Income before federal income tax
						(1)						2						Total federal income tax expense
						3						(9)						Net income
Net realized losses (gains) on disposals and losses on intent-to-sell AFS securities
Net realized losses (gains) on disposals and losses on intent-to-sell AFS securities						60,048						(3,825)						Net realized and unrealized investment (losses) gains
						60,048						(3,825)						Income before federal income tax
						(12,610)						803						Total federal income tax expense
						47,438						(3,022)						Net income
Credit loss related
Credit loss expense						39,169						6,858						Net realized and unrealized investment (losses) gains
						39,169						6,858						Income before federal income tax
						(8,225)						(1,440)						Total federal income tax expense
						30,944						5,418						Net income
Defined benefit pension and post-retirement life plans
Net actuarial loss						359						638						Loss and loss expense incurred
						1,309						2,134						Other insurance expenses
Total defined benefit pension and post-retirement life						1,668						2,772						Income before federal income tax
						(351)						(582)						Total federal income tax expense
						1,317						2,190						Net income
Total reclassifications for the period						$	79,702					4,577						Net income

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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 https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

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-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
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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
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