XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.24.3

Comprehensive Income (Loss) | 9 Months Ended
--- | ---
Sep. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Comprehensive Income (Loss) | Comprehensive Income (Loss) The components of comprehensive income (loss), both gross and net of tax, for Third Quarter 2024 and Nine Months 2024 and Third Quarter 2023 and Nine Months 2023 were as follows:
Third Quarter 2024 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income (loss) |  | $ | 116,487 |  |  | 24,209 |  |  | 92,278 |
Components of OCI: |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |
Unrealized holding gains (losses) during the period |  | 187,465 |  |  | 39,367 |  |  | 148,098 |
Unrealized gains (losses) on securities with credit loss recognized in earnings |  | 43,927 |  |  | 9,225 |  |  | 34,702 |
Amounts reclassified into net income (loss): |  |  |  |  |  |
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  | (1,249) |  |  | (263) |  |  | (986) |
Credit loss (benefit) expense |  | (2,191) |  |  | (459) |  |  | (1,732) |
Total unrealized gains (losses) on investment securities |  | 227,952 |  |  | 47,870 |  |  | 180,082 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income (loss): |  |  |  |  |  |
Net actuarial (gain) loss |  | 967 |  |  | 203 |  |  | 764 |
Total defined benefit pension and post-retirement plans |  | 967 |  |  | 203 |  |  | 764 |
Other comprehensive income (loss) |  | 228,919 |  |  | 48,073 |  |  | 180,846 |
Comprehensive income (loss) |  | $ | 345,406 |  |  | 72,282 |  |  | 273,124 |
Third Quarter 2023 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income (loss) |  | $ | 112,517 |  |  | 23,309 |  |  | 89,208 |
Components of OCI: |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |
Unrealized holding gains (losses) during the period |  | (101,722) |  |  | (21,361) |  |  | (80,361) |
Unrealized gains (losses) on securities with credit loss recognized in earnings |  | (32,898) |  |  | (6,909) |  |  | (25,989) |
Amounts reclassified into net income (loss): |  |  |  |  |  |
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  | 4,628 |  |  | 972 |  |  | 3,656 |
Credit loss (benefit) expense |  | 2,468 |  |  | 519 |  |  | 1,949 |
Total unrealized gains (losses) on investment securities |  | (127,524) |  |  | (26,779) |  |  | (100,745) |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income (loss): |  |  |  |  |  |
Net actuarial (gain) loss |  | 756 |  |  | 158 |  |  | 598 |
Total defined benefit pension and post-retirement plans |  | 756 |  |  | 158 |  |  | 598 |
Other comprehensive income (loss) |  | (126,768) |  |  | (26,621) |  |  | (100,147) |
Comprehensive income (loss) |  | $ | (14,251) |  |  | (3,312) |  |  | (10,939) |
Nine Months 2024 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income (loss) |  | $ | 138,955 |  |  | 27,478 |  |  | 111,477 |
Components of OCI: |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |
Unrealized holding gains (losses) during the period |  | 163,558 |  |  | 34,347 |  |  | 129,211 |
Unrealized gains (losses) on securities with credit loss recognized in earnings |  | 37,090 |  |  | 7,789 |  |  | 29,301 |
Amounts reclassified into net income (loss): |  |  |  |  |  |
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  | (1,284) |  |  | (270) |  |  | (1,014) |
Credit loss (benefit) expense |  | 1,692 |  |  | 356 |  |  | 1,336 |
Total unrealized gains (losses) on investment securities |  | 201,056 |  |  | 42,222 |  |  | 158,834 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income (loss): |  |  |  |  |  |
Net actuarial (gain) loss |  | 2,901 |  |  | 609 |  |  | 2,292 |
Total defined benefit pension and post-retirement plans |  | 2,901 |  |  | 609 |  |  | 2,292 |
Other comprehensive income (loss) |  | 203,957 |  |  | 42,831 |  |  | 161,126 |
Comprehensive income (loss) |  | $ | 342,912 |  |  | 70,309 |  |  | 272,603 |
Nine Months 2023 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income (loss) |  | $ | 301,433 |  |  | 61,043 |  |  | 240,390 |
Components of OCI: |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |
Unrealized holding gains (losses) during the period |  | (96,478) |  |  | (20,259) |  |  | (76,219) |
Unrealized gains (losses) on securities with credit loss recognized in earnings |  | (16,497) |  |  | (3,465) |  |  | (13,032) |
Amounts reclassified into net income (loss): |  |  |  |  |  |
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  | 20,115 |  |  | 4,224 |  |  | 15,891 |
Credit loss (benefit) expense |  | (7,925) |  |  | (1,664) |  |  | (6,261) |
Total unrealized gains (losses) on investment securities |  | (100,785) |  |  | (21,164) |  |  | (79,621) |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Amounts reclassified into net income (loss): |  |  |  |  |  |
Net actuarial (gain) loss |  | 2,270 |  |  | 476 |  |  | 1,794 |
Total defined benefit pension and post-retirement plans |  | 2,270 |  |  | 476 |  |  | 1,794 |
Other comprehensive income (loss) |  | (98,515) |  |  | (20,688) |  |  | (77,827) |
Comprehensive income (loss) |  | $ | 202,918 |  |  | 40,355 |  |  | 162,563 |
The balances of, and changes in, each component of accumulated other comprehensive income (loss) ("AOCI") (net of taxes) as of September 30, 2024, were as follows:
September 30, 2024 |  | Net Unrealized Gains (Losses) on Investment Securities |  | Defined Benefit Pension and Post-Retirement Plans |  | Total AOCI
($ in thousands) |  | Credit Loss Related 1 |  | All Other |  | Investments Subtotal |  |
Balance, December 31, 2023 |  | $ | (84,442) |  |  | (194,628) |  |  | (279,070) |  |  | (93,931) |  |  | (373,001) |
OCI before reclassifications |  | 29,301 |  |  | 129,211 |  |  | 158,512 |  |  | — |  |  | 158,512 |
Amounts reclassified from AOCI |  | 1,336 |  |  | (1,014) |  |  | 322 |  |  | 2,292 |  |  | 2,614 |
Net current period OCI |  | 30,637 |  |  | 128,197 |  |  | 158,834 |  |  | 2,292 |  |  | 161,126 |
Balance, September 30, 2024 |  | $ | (53,805) |  |  | (66,431) |  |  | (120,236) |  |  | (91,639) |  |  | (211,875) |
1 Represents change in unrealized gains (losses) on securities with credit loss recognized in earnings. The reclassifications out of AOCI were as follows:
|  | Quarter ended September 30, |  | Nine Months ended September 30, |  | Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  |  |  |  |  |  |  |  |  |
Net realized (gains) losses |  | $ | (1,249) |  |  | 4,628 |  |  | $ | (1,284) |  |  | 20,115 |  |  | Net realized and unrealized investment gains (losses)
Tax (benefit) expense |  | 263 |  |  | (972) |  |  | 270 |  |  | (4,224) |  |  | Total federal income tax expense (benefit)
Net of taxes |  | (986) |  |  | 3,656 |  |  | (1,014) |  |  | 15,891 |  |  | Net income (loss)
Credit loss related |  |  |  |  |  |  |  |  |  |
Credit loss (benefit) expense |  | (2,191) |  |  | 2,468 |  |  | 1,692 |  |  | (7,925) |  |  | Net realized and unrealized investment gains (losses)
Tax (benefit) expense |  | 459 |  |  | (519) |  |  | (356) |  |  | 1,664 |  |  | Total federal income tax expense (benefit)
Net of taxes |  | (1,732) |  |  | 1,949 |  |  | 1,336 |  |  | (6,261) |  |  | Net income (loss)
Defined benefit pension and post-retirement life plans |  |  |  |  |  |  |  |  |  |
Net actuarial loss |  | 222 |  |  | 173 |  |  | 667 |  |  | 521 |  |  | Loss and loss expense incurred
Net actuarial loss |  | 745 |  |  | 583 |  |  | 2,234 |  |  | 1,749 |  |  | Other insurance expenses
Total |  | 967 |  |  | 756 |  |  | 2,901 |  |  | 2,270 |  |  | Income (loss) before federal income tax
Tax (benefit) expense |  | (203) |  |  | (158) |  |  | (609) |  |  | (476) |  |  | Total federal income tax expense (benefit)
Net of taxes |  | 764 |  |  | 598 |  |  | 2,292 |  |  | 1,794 |  |  | Net income (loss)
Total reclassifications for the period |  | $ | (1,954) |  |  | 6,203 |  |  | $ | 2,614 |  |  | 11,424 |  |  | Net income (loss)

X
- References No definition available. + Details
Name: | us-gaap_ComprehensiveIncomeNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration