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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Statement of Comprehensive Income [Abstract]          
Net income (loss) $ 66,566 $ (99,091) $ 41,375 $ (6,785) $ 118,620
Other comprehensive income, net of tax:          
Unrealized holding (loss) gain on securities available-for-sale arising during the period, net of income taxes [1] (11,747) 13,800 10,864 30,473 39,280
Reclassification adjustment for net (loss) gain on sales of securities included in net income, net of income taxes [2] (814) 15 (3,027) (6,333) (3,484)
Other comprehensive (loss) income, net of tax (12,561) 13,815 7,837 24,140 35,796
Comprehensive income (loss), net of tax 54,005 (85,276) 49,212 17,355 154,416
Unrealized holding gain (loss) on securities arising during the period, income tax expense (benefit) (4,700) 5,500 4,400 12,300 16,000
Reclassification adjustment for net (gains) losses on sale of securities included in net income, income tax expense (benefit) $ 327 $ (6) $ 1,200 $ 2,500 $ 1,400
[1] Income tax (benefit) expense on the unrealized gain on securities was $(4.7) million for the three months ended September 30, 2020, $5.5 million for the three months ended June 30, 2020, $4.4 million for the three months ended September 30, 2019, $12.3 million for the nine months ended September 30, 2020, and $16.0 million for the nine months ended September 30, 2019.
[2] Income tax expense (benefit) on the reclassification adjustment for net gain (loss) on sales of securities included in net income was $327,000 for the three months ended September 30, 2020, $(6,000) for the three months ended June 30, 2020, $1.2 million for the three months ended September 30, 2019, $2.5 million for the nine months ended September 30, 2020, and $1.4 million for the nine months ended September 30, 2019.