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Comprehensive Income
 3 Months Ended
Mar. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Comprehensive Income Comprehensive Income
The components of comprehensive income, both gross and net of tax, for First Quarter 2024 and First Quarter 2023 were as follows:

First Quarter 2024   
($ in thousands)GrossTaxNet
Net income$102,566 20,048 82,518 
Components of OCI:   
Unrealized gains (losses) on investment securities:
   
Unrealized holding gains (losses) during the period(15,560)(3,267)(12,293)
Unrealized gains (losses) on securities with credit loss recognized in earnings(3,132)(658)(2,474)
Amounts reclassified into net income:
Net realized (gains) losses on disposals and intent-to-sell AFS securities(78)(17)(61)
Credit loss (benefit) expense2,650 557 2,093 
    Total unrealized gains (losses) on investment securities(16,120)(3,385)(12,735)
Defined benefit pension and post-retirement plans:   
Amounts reclassified into net income:   
Net actuarial (gain) loss967 203 764 
    Total defined benefit pension and post-retirement plans967 203 764 
Other comprehensive income (loss)(15,153)(3,182)(11,971)
Comprehensive income (loss)$87,413 16,866 70,547 
First Quarter 2023   
($ in thousands)GrossTaxNet
Net income$114,759 22,185 92,574 
Components of OCI:   
Unrealized gains (losses) on investment securities:   
Unrealized holding gains (losses) during the period65,925 13,846 52,079 
Unrealized gains (losses) on securities with credit loss recognized in earnings22,431 4,710 17,721 
Amounts reclassified into net income:
Net realized (gains) losses on disposals and intent-to-sell AFS securities6,104 1,282 4,822 
Credit loss (benefit) expense(9,529)(2,002)(7,527)
    Total unrealized gains (losses) on investment securities84,931 17,836 67,095 
Defined benefit pension and post-retirement plans:   
Amounts reclassified into net income:   
Net actuarial (gain) loss757 159 598 
    Total defined benefit pension and post-retirement plans757 159 598 
Other comprehensive income (loss)85,688 17,995 67,693 
Comprehensive income (loss)$200,447 40,180 160,267 

The balances of, and changes in, each component of accumulated other comprehensive income (loss) ("AOCI") (net of taxes) as of March 31, 2024, were as follows:

March 31, 2024Net Unrealized Gains (Losses) on Investment SecuritiesDefined Benefit Pension and Post-Retirement PlansTotal AOCI
($ in thousands)
Credit Loss Related1
All
Other		Investments
Subtotal
Balance, December 31, 2023
$(84,442)(194,628)(279,070)(93,931)(373,001)
OCI before reclassifications(2,474)(12,293)(14,767)— (14,767)
Amounts reclassified from AOCI2,093 (61)2,032 764 2,796 
Net current period OCI(381)(12,354)(12,735)764 (11,971)
Balance, March 31, 2024
$(84,823)(206,982)(291,805)(93,167)(384,972)
1Represents change in unrealized gains (losses) on securities with credit loss recognized in earnings.
The reclassifications out of AOCI were as follows:

Quarter ended March 31,Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands)20242023
Net realized (gains) losses on disposals and intent-to-sell AFS securities
Net realized (gains) losses
$(78)6,104 Net realized and unrealized investment gains (losses)
Tax (benefit) expense
17 (1,282)Total federal income tax expense
Net of taxes
(61)4,822 Net income
Credit loss related
Credit loss (benefit) expense2,650 (9,529)Net realized and unrealized investment gains (losses)
Tax (benefit) expense
(557)2,002 Total federal income tax expense
Net of taxes
2,093 (7,527)Net income
Defined benefit pension and post-retirement life plans
Net actuarial loss 222 175 Loss and loss expense incurred
Net actuarial loss745 582 Other insurance expenses
Total
967 757 Income before federal income tax
Tax (benefit) expense(203)(159)Total federal income tax expense
Net of taxes764 598 Net income
Total reclassifications for the period$2,796 (2,107)Net income