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Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2025

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 (loss), both gross and net of tax, for Third Quarter 2025 and Nine Months 2025 and Third Quarter 2024 and Nine Months 2024 were as follows:

Third Quarter 2025
($ in thousands)						Gross						Tax						Net
Net income (loss)						$	145,711					30,371						115,340
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) during the period						67,404						14,156						53,248
Unrealized gains (losses) on securities with credit loss recognized in earnings						12,134						2,549						9,585
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities						580						122						458
Credit loss (benefit) expense						(829)						(174)						(655)
Total unrealized gains (losses) on investment securities						79,289						16,653						62,636
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income (loss):
Net actuarial (gain) loss						872						182						690
Total defined benefit pension and post-retirement plans						872						182						690
Other comprehensive income (loss)						80,161						16,835						63,326
Comprehensive income (loss)						$	225,872					47,206						178,666
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

Nine Months 2025
($ in thousands)						Gross						Tax						Net
Net income (loss)						$	393,502					82,323						311,179
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) during the period						178,528						37,491						141,037
Unrealized gains (losses) on securities with credit loss recognized in earnings						35,922						7,544						28,378
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities						(128)						(27)						(101)
Credit loss (benefit) expense						(2,345)						(492)						(1,853)
Total unrealized gains (losses) on investment securities						211,977						44,516						167,461
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income (loss):
Net actuarial (gain) loss						2,617						549						2,068
Total defined benefit pension and post-retirement plans						2,617						549						2,068
Other comprehensive income (loss)						214,594						45,065						169,529
Comprehensive income (loss)						$	608,096					127,388						480,708
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

Schedule of Components of Accumulated Other Comprehensive Income Net of Tax

The following table shows each component of accumulated other comprehensive income (loss) ("AOCI") (net of taxes), including balances and changes, as of September 30, 2025:

September 30, 2025						Net Unrealized Gains (Losses) on Investment Securities																		Defined Benefit Pension and Post-Retirement Plans						Total AOCI
($ in thousands)						Credit Loss Related1						All Other						Investments Subtotal
Balance, December 31, 2024						$	(72,206)					(178,057)						(250,263)						(86,582)						(336,845)
OCI before reclassifications						28,378						141,037						169,415						—						169,415
Amounts reclassified from AOCI						(1,853)						(101)						(1,954)						2,068						114
Net current period OCI						26,525						140,936						167,461						2,068						169,529
Balance, September 30, 2025						$	(45,681)					(37,121)						(82,802)						(84,514)						(167,316)

1Represents change in unrealized gains (losses) on securities with credit loss recognized in earnings.

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income

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)									2025						2024						2025						2024
Net realized (gains) losses on disposals and intent-to-sell AFS securities
Net realized (gains) losses									$	580					(1,249)						$	(128)					(1,284)						Net realized and unrealized investment gains (losses)
Tax (benefit) expense									(122)						263						27						270						Total federal income tax expense (benefit)
Net of taxes									458						(986)						(101)						(1,014)						Net income (loss)
Credit loss related
Credit loss (benefit) expense									(829)						(2,191)						(2,345)						1,692						Net realized and unrealized investment gains (losses)
Tax (benefit) expense									174						459						492						(356)						Total federal income tax expense (benefit)
Net of taxes									(655)						(1,732)						(1,853)						1,336						Net income (loss)
Defined benefit pension and post-retirement life plans
Net actuarial loss									201						222						602						667						Loss and loss expense incurred
Net actuarial loss									671						745						2,015						2,234						Other insurance expenses
Total									872						967						2,617						2,901						Income (loss) before federal income tax
Tax (benefit) expense									(182)						(203)						(549)						(609)						Total federal income tax expense (benefit)
Net of taxes									690						764						2,068						2,292						Net income (loss)
Total reclassifications for the period									$	493					(1,954)						$	114					2,614						Net income (loss)

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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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.

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