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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Statement of Comprehensive Income [Abstract]          
Net income (loss) $ 96,302 $ 68,668 $ (99,091) $ 164,970 $ (73,351)
Other comprehensive income (loss), net of tax:          
Unrealized gain (loss) on securities available-for-sale arising during the period, net of income taxes [1] 45,343 (72,592) 13,800 (27,249) 42,220
Reclassification adjustment for net (gain) loss on sales of securities included in net income, net of income taxes [2] (3,630) (2,889) 15 (6,519) (5,519)
Other comprehensive income (loss), net of tax 41,713 (75,481) 13,815 (33,768) 36,701
Comprehensive income (loss), net of tax $ 138,015 $ (6,813) $ (85,276) $ 131,202 $ (36,650)
[1] Income tax expense (benefit) on the unrealized gain (loss) on securities was $18.2 million for the three months ended June 30, 2021, $(29.1) million for the three months ended March 31, 2021, $5.5 million for the three months ended June 30, 2020, $(10.9) million for the six months ended June 30, 2021, and $17.0 million for the six months ended June 30, 2020.
[2] Income tax expense (benefit) on the reclassification adjustment for net (gain) loss on sales of securities included in net income was $1.5 million for the three months ended June 30, 2021, $1.2 million for the three months ended March 31, 2021, $(6,000) for the three months ended June 30, 2020, $2.6 million for the six months ended June 30, 2021, and $2.2 million for the six months ended June 30, 2020.