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Comprehensive Income (Tables) | 12 Months Ended
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Dec. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Schedule of Components of Comprehensive Income-Gross and Net of Tax | The components of comprehensive income, both gross and net of tax, for 2024, 2023, and 2022 were as follows:
2024 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 258,034 |  |  | 51,022 |  |  | 207,012 |
Components of OCI: |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |
Unrealized holding gains (losses) during the year |  | 22,880 |  |  | 4,805 |  |  | 18,075 |
Unrealized gains (losses) on securities with credit loss recognized in earnings |  | 9,861 |  |  | 2,071 |  |  | 7,790 |
Amounts reclassified into net income: |  |  |  |  |  |
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  | (1,903) |  |  | (399) |  |  | (1,504) |
Credit loss (benefit) expense |  | 5,628 |  |  | 1,182 |  |  | 4,446 |
Total unrealized gains (losses) on investment securities |  | 36,466 |  |  | 7,659 |  |  | 28,807 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Net actuarial gain (loss) |  | 5,434 |  |  | 1,141 |  |  | 4,293 |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial (gain) loss |  | 3,868 |  |  | 812 |  |  | 3,056 |
Total defined benefit pension and post-retirement plans |  | 9,302 |  |  | 1,953 |  |  | 7,349 |
Other comprehensive income (loss) |  | 45,768 |  |  | 9,612 |  |  | 36,156 |
Comprehensive income (loss) |  | $ | 303,802 |  |  | 60,634 |  |  | 243,168 |
2023 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 458,412 |  |  | 93,174 |  |  | 365,238 |
Components of OCI: |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |
Unrealized holding gains (losses) during the year |  | 106,845 |  |  | 22,438 |  |  | 84,407 |
Unrealized gains (losses) on securities with credit loss recognized in earnings |  | 60,234 |  |  | 12,649 |  |  | 47,585 |
Amounts reclassified into net income: |  |  |  |  |  |
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  | 20,458 |  |  | 4,296 |  |  | 16,162 |
Credit loss (benefit) expense |  | (12,898) |  |  | (2,709) |  |  | (10,189) |
Total unrealized gains (losses) on investment securities |  | 174,639 |  |  | 36,674 |  |  | 137,965 |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Net actuarial gain (loss) |  | (19,385) |  |  | (4,070) |  |  | (15,315) |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial (gain) loss |  | 3,026 |  |  | 635 |  |  | 2,391 |
Total defined benefit pension and post-retirement plans |  | (16,359) |  |  | (3,435) |  |  | (12,924) |
Other comprehensive income (loss) |  | 158,280 |  |  | 33,239 |  |  | 125,041 |
Comprehensive income (loss) |  | $ | 616,692 |  |  | 126,413 |  |  | 490,279 |
2022 |  |  |  |  |  |
($ in thousands) |  | Gross |  | Tax |  | Net
Net income |  | $ | 280,186 |  |  | 55,300 |  |  | 224,886 |
Components of OCI: |  |  |  |  |  |
Unrealized gains (losses) on investment securities: |  |  |  |  |  |
Unrealized holding gains (losses) during the year |  | (668,107) |  |  | (140,302) |  |  | (527,805) |
Unrealized gains (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 (gains) losses on disposals and intent-to-sell AFS securities |  | 60,048 |  |  | 12,610 |  |  | 47,438 |
Credit loss (benefit) expense |  | 39,169 |  |  | 8,225 |  |  | 30,944 |
Total unrealized gains (losses) on investment securities |  | (756,854) |  |  | (158,939) |  |  | (597,915) |
Defined benefit pension and post-retirement plans: |  |  |  |  |  |
Net actuarial gain (loss) |  | (20,941) |  |  | (4,398) |  |  | (16,543) |
Amounts reclassified into net income: |  |  |  |  |  |
Net actuarial (gain) loss |  | 1,668 |  |  | 351 |  |  | 1,317 |
Total defined benefit pension and post-retirement plans |  | (19,273) |  |  | (4,047) |  |  | (15,226) |
Other comprehensive income (loss) |  | (776,127) |  |  | (162,986) |  |  | (613,141) |
Comprehensive income (loss) |  | $ | (495,941) |  |  | (107,686) |  |  | (388,255) |
Schedule of Components of Accumulated Other Comprehensive Income Net of Tax | The balances of, and changes in, each component of AOCI (net of taxes) as of December 31, 2024, and 2023, were as follows:
|  |  |  | Net Unrealized Gains (Losses) on Investment Securities |  | Defined Benefit Pension and Post-retirement Plans |  |
($ in thousands) |  |  |  | Credit Loss Related 1 |  | All Other |  | Investments Subtotal |  |  | Total AOCI
Balance, December 31, 2022 |  |  |  | $ | (121,838) |  |  | (295,197) |  |  | (417,035) |  |  | (81,007) |  |  | (498,042) |
OCI before reclassifications |  |  |  | 47,585 |  |  | 84,407 |  |  | 131,992 |  |  | (15,315) |  |  | 116,677 |
Amounts reclassified from AOCI |  |  |  | (10,189) |  |  | 16,162 |  |  | 5,973 |  |  | 2,391 |  |  | 8,364 |
Net current period OCI |  |  |  | 37,396 |  |  | 100,569 |  |  | 137,965 |  |  | (12,924) |  |  | 125,041 |
Balance, December 31, 2023 |  |  |  | (84,442) |  |  | (194,628) |  |  | (279,070) |  |  | (93,931) |  |  | (373,001) |
OCI before reclassifications |  |  |  | 7,790 |  |  | 18,075 |  |  | 25,865 |  |  | 4,293 |  |  | 30,158 |
Amounts reclassified from AOCI |  |  |  | 4,446 |  |  | (1,504) |  |  | 2,942 |  |  | 3,056 |  |  | 5,998 |
Net current period OCI |  |  |  | 12,236 |  |  | 16,571 |  |  | 28,807 |  |  | 7,349 |  |  | 36,156 |
Balance, December 31, 2024 |  |  |  | $ | (72,206) |  |  | (178,057) |  |  | (250,263) |  |  | (86,582) |  |  | (336,845) |
1Represents change in unrealized gains (losses) on securities with credit loss recognized in earnings.
Schedule of Reclassification Out of Accumulated Other Comprehensive Income | The reclassifications out of AOCI were as follows:
($ in thousands) |  | Year ended December 31, 2024 |  | Year ended December 31, 2023 |  | Affected Line Item in the Consolidated Statements of Income
Net realized (gains) losses on disposals and intent-to-sell AFS securities |  |  |  |  |  |
Net realized (gains) losses |  | $ | (1,903) |  |  | 20,458 |  |  | Net realized and unrealized investment gains (losses)
Tax (benefit) expense |  | 399 |  |  | (4,296) |  |  | Total federal income tax expense
Net of taxes |  | (1,504) |  |  | 16,162 |  |  | Net income
Credit loss related |  |  |  |  |  |
Credit loss (benefit) expense |  | 5,628 |  |  | (12,898) |  |  | Net realized and unrealized investment gains (losses)
Tax (benefit) expense |  | (1,182) |  |  | 2,709 |  |  | Total federal income tax expense
Net of taxes |  | 4,446 |  |  | (10,189) |  |  | Net income
Defined benefit pension and post-retirement life plans |  |  |  |  |  |
Net actuarial loss |  | 890 |  |  | 695 |  |  | Loss and loss expense incurred
Net actuarial loss |  | 2,978 |  |  | 2,331 |  |  | Other insurance expenses
Total |  | 3,868 |  |  | 3,026 |  |  | Income before federal income tax
Tax (benefit) expense |  | (812) |  |  | (635) |  |  | Total federal income tax expense
Net of taxes |  | 3,056 |  |  | 2,391 |  |  | Net income
Total reclassifications for the period |  | $ | 5,998 |  |  | 8,364 |  |  | Net income

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