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Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Comprehensive Income (Loss) Comprehensive Income (Loss)
The components of comprehensive income (loss), both gross and net of tax, for Second Quarter 2024 and Six Months 2024 and Second Quarter 2023 and Six Months 2023 were as follows:

Second Quarter 2024   
($ in thousands)GrossTaxNet
Net income (loss)
$(80,098)(16,779)(63,319)
Components of OCI:   
Unrealized gains (losses) on investment securities:
   
Unrealized holding gains (losses) during the period(8,347)(1,753)(6,594)
Unrealized gains (losses) on securities with credit loss recognized in earnings(3,705)(778)(2,927)
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities43 10 33 
Credit loss (benefit) expense1,233 258 975 
    Total unrealized gains (losses) on investment securities(10,776)(2,263)(8,513)
Defined benefit pension and post-retirement plans:   
Amounts reclassified into net income (loss):
   
Net actuarial (gain) loss967 203 764 
    Total defined benefit pension and post-retirement plans967 203 764 
Other comprehensive income (loss)(9,809)(2,060)(7,749)
Comprehensive income (loss)$(89,907)(18,839)(71,068)
Second Quarter 2023   
($ in thousands)GrossTaxNet
Net income (loss)
$74,157 15,549 58,608 
Components of OCI:   
Unrealized gains (losses) on investment securities:   
Unrealized holding gains (losses) during the period(60,681)(12,744)(47,937)
Unrealized gains (losses) on securities with credit loss recognized in earnings(6,030)(1,266)(4,764)
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities9,383 1,970 7,413 
Credit loss (benefit) expense(864)(181)(683)
    Total unrealized gains (losses) on investment securities(58,192)(12,221)(45,971)
Defined benefit pension and post-retirement plans:   
Amounts reclassified into net income (loss):
   
Net actuarial (gain) loss757 159 598 
    Total defined benefit pension and post-retirement plans757 159 598 
Other comprehensive income (loss)(57,435)(12,062)(45,373)
Comprehensive income (loss)$16,722 3,487 13,235 
Six Months 2024
($ in thousands)GrossTaxNet
Net income (loss)
$22,468 3,269 19,199 
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) during the period(23,907)(5,020)(18,887)
Unrealized gains (losses) on securities with credit loss recognized in earnings(6,837)(1,436)(5,401)
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities(35)(7)(28)
Credit loss (benefit) expense3,883 815 3,068 
Total unrealized gains (losses) on investment securities(26,896)(5,648)(21,248)
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income (loss):
Net actuarial (gain) loss1,934 406 1,528 
Total defined benefit pension and post-retirement plans1,934 406 1,528 
Other comprehensive income (loss)(24,962)(5,242)(19,720)
Comprehensive income (loss)$(2,494)(1,973)(521)
Six Months 2023
($ in thousands)GrossTaxNet
Net income (loss)
$188,916 37,734 151,182 
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) during the period5,244 1,102 4,142 
Unrealized gains (losses) on securities with credit loss recognized in earnings16,401 3,444 12,957 
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities15,487 3,252 12,235 
Credit loss (benefit) expense(10,393)(2,183)(8,210)
Total unrealized gains (losses) on investment securities26,739 5,615 21,124 
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income (loss):
Net actuarial (gain) loss1,514 318 1,196 
Total defined benefit pension and post-retirement plans1,514 318 1,196 
Other comprehensive income (loss)28,253 5,933 22,320 
Comprehensive income (loss)$217,169 43,667 173,502 

The balances of, and changes in, each component of accumulated other comprehensive income (loss) ("AOCI") (net of taxes) as of June 30, 2024, were as follows:

June 30, 2024Net Unrealized Gains (Losses) on Investment SecuritiesDefined Benefit Pension and Post-Retirement PlansTotal AOCI
($ in thousands)
Credit Loss Related1
All
Other		Investments
Subtotal
Balance, December 31, 2023
$(84,442)(194,628)(279,070)(93,931)(373,001)
OCI before reclassifications(5,401)(18,887)(24,288)— (24,288)
Amounts reclassified from AOCI3,068 (28)3,040 1,528 4,568 
Net current period OCI(2,333)(18,915)(21,248)1,528 (19,720)
Balance, June 30, 2024
$(86,775)(213,543)(300,318)(92,403)(392,721)
1Represents change in unrealized gains (losses) on securities with credit loss recognized in earnings.
The reclassifications out of AOCI were as follows:

Quarter ended June 30,Six Months ended June 30,Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands)2024202320242023
Net realized (gains) losses on disposals and intent-to-sell AFS securities
Net realized (gains) losses
$43 9,383 $(35)15,487 Net realized and unrealized investment gains (losses)
Tax (benefit) expense
(10)(1,970)7 (3,252)Total federal income tax expense (benefit)
Net of taxes
33 7,413 (28)12,235 Net income (loss)
Credit loss related
Credit loss (benefit) expense1,233 (864)3,883 (10,393)Net realized and unrealized investment gains (losses)
Tax (benefit) expense
(258)181 (815)2,183 Total federal income tax expense (benefit)
Net of taxes
975 (683)3,068 (8,210)Net income (loss)
Defined benefit pension and post-retirement life plans
Net actuarial loss 223 173 445 348 Loss and loss expense incurred
Net actuarial loss744 584 1,489 1,166 Other insurance expenses
Total
967 757 1,934 1,514 Income (loss) before federal income tax
Tax (benefit) expense(203)(159)(406)(318)Total federal income tax expense (benefit)
Net of taxes764 598 1,528 1,196 Net income (loss)
Total reclassifications for the period$1,772 7,328 $4,568 5,221 Net income (loss)