Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2021

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of Components of Comprehensive Income-Gross and Net of Tax

First Quarter 2021
($ in thousands)	Gross		Tax	Net
Net income	$	135,632	26,362	109,270
Components of OCI:
Unrealized losses on investment securities:
Unrealized holding losses during the period	(103,308)		(21,695)	(81,613)
Unrealized losses on securities with credit loss recognized in earnings	(11,320)		(2,377)	(8,943)
Amounts reclassified into net income:
HTM securities	(2)		—	(2)
Net realized losses on disposals and losses on intent-to-sell AFS securities	604		127	477
Credit loss expense	4,997		1,049	3,948
Total unrealized losses on investment securities	(109,029)		(22,896)	(86,133)
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	693		146	547
Total defined benefit pension and post-retirement plans	693		146	547
Other comprehensive loss	(108,336)		(22,750)	(85,586)
Comprehensive income	$	27,296	3,612	23,684
First Quarter 2020
($ in thousands)	Gross		Tax	Net
Net income	$	15,997	761	15,236
Components of OCI:
Unrealized losses on investment securities:
Unrealized holding losses during the period	(93,981)		(19,736)	(74,245)
Unrealized losses on securities with credit loss recognized in earnings	(65,390)		(13,732)	(51,658)
Amounts reclassified into net income:
HTM securities	25		5	20
Net realized losses on disposals and losses on intent-to-sell AFS securities	11,327		2,379	8,948
Credit loss expense	15,787		3,315	12,472
Total unrealized losses on investment securities	(132,232)		(27,769)	(104,463)
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	754		158	596
Total defined benefit pension and post-retirement plans	754		158	596
Other comprehensive loss	(131,478)		(27,611)	(103,867)
Comprehensive loss	$	(115,481)	(26,850)	(88,631)

Schedule of Components of Accumulated Other Comprehensive Income Net of Tax

March 31, 2021						Defined Benefit Pension and Post-Retirement Plans
	Net Unrealized (Losses) Gains on Investment Securities						Total AOCI
($ in thousands)	Credit Loss Related1		HTM Related	All Other	Investments Subtotal
Balance, December 31, 2020	$	(2,546)	6	307,790	305,250	(85,064)	220,186
OCI before reclassifications	(8,943)		—	(81,613)	(90,556)	—	(90,556)
Amounts reclassified from AOCI	3,948		(2)	477	4,423	547	4,970
Net current period OCI	(4,995)		(2)	(81,136)	(86,133)	547	(85,586)
Balance, March 31, 2021	$	(7,541)	4	226,654	219,117	(84,517)	134,600

Schedule of Reclassifications Out Of Accumulated Other Comprehensive Income

	Quarter ended March 31,			Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands)	2021		2020
HTM related
Unrealized (gains) losses on HTM disposals	$	—	1	Net realized and unrealized investment gains (losses)
Amortization of net unrealized (gains) losses on HTM securities	(2)		24	Net investment income earned
	(2)		25	Income before federal income tax
	—		(5)	Total federal income tax expense
	(2)		20	Net income
Net realized losses on disposals and intent-to-sell AFS securities
Net realized losses on disposals and intent-to-sell AFS securities	604		11,327	Net realized and unrealized investment gains (losses)
	604		11,327	Income before federal income tax
	(127)		(2,379)	Total federal income tax expense
	477		8,948	Net income
Credit loss related
Credit loss expense	4,997		15,787	Net realized and unrealized investment gains (losses)
	4,997		15,787	Income before federal income tax
	(1,049)		(3,315)	Total federal income tax expense
	3,948		12,472	Net income
Defined benefit pension and post-retirement life plans
Net actuarial loss	159		162	Loss and loss expense incurred
	534		592	Other insurance expenses
Total defined benefit pension and post-retirement life	693		754	Income before federal income tax
	(146)		(158)	Total federal income tax expense
	547		596	Net income
Total reclassifications for the period	$	4,970	22,036	Net income