Schedule of Accumulated Other Comprehensive Income (Loss) |
The components of accumulated other comprehensive income (loss) ("AOCI") for the Company for the periods shown were as follows: | | | | | | | | | | | | | | | ($ in thousands) | | September 30, 2024 | | December 31, 2023 | Unrealized loss on securities available for sale | | $ | (331,538) | | | $ | (400,720) | | Deferred tax asset | | 76,751 | | | 92,767 | | Net unrealized loss on securities available for sale | | (254,787) | | | (307,953) | | | | | | | Postretirement plans liability | | (25) | | | (100) | | Deferred tax asset | | 6 | | | 23 | | Net postretirement plans liability | | (19) | | | (77) | | | | | | | Total accumulated other comprehensive loss | | $ | (254,806) | | | $ | (308,030) | |
The following tables disclose the changes in AOCI for the three and nine months ended September 30, 2024 and 2023 (all amounts are net of tax): | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, 2024 | ($ in thousands) | | Unrealized Loss on Securities Available for Sale | | Postretirement Plans Asset (Liability) | | Total | Beginning balance | | $ | (315,153) | | | $ | (38) | | | $ | (315,191) | | Other comprehensive income before reclassifications | | 60,366 | | | — | | | 60,366 | | Amounts reclassified from accumulated other comprehensive income | | — | | | 19 | | | 19 | | Net current period other comprehensive income | | 60,366 | | | 19 | | | 60,385 | | | | | | | | | Ending balance | | $ | (254,787) | | | $ | (19) | | | $ | (254,806) | | | | | | | | | | | For the Three Months Ended September 30, 2023 | ($ in thousands) | | Unrealized Loss on Securities Available for Sale | | Postretirement Plans Asset (Liability) | | Total | Beginning balance | | $ | (338,251) | | | $ | 109 | | | $ | (338,142) | | Other comprehensive loss before reclassifications | | (62,644) | | | — | | | (62,644) | | Amounts reclassified from accumulated other comprehensive income | | — | | | 34 | | | 34 | | Net current period other comprehensive (loss) income | | (62,644) | | | 34 | | | (62,610) | | | | | | | | | Ending balance | | $ | (400,895) | | | $ | 143 | | | $ | (400,752) | |
| | | | | | | | | | | | | | | | | | | | | | | For the Nine Months Ended September 30, 2024 | ($ in thousands) | | Unrealized Loss on Securities Available for Sale | | Postretirement Plans Asset (Liability) | | Total | Beginning balance | | $ | (307,953) | | | $ | (77) | | | $ | (308,030) | | Other comprehensive income before reclassifications | | 52,274 | | | — | | | 52,274 | | Amounts reclassified from accumulated other comprehensive income | | 892 | | | 58 | | | 950 | | Net current-period other comprehensive income | | 53,166 | | | 58 | | | 53,224 | | | | | | | | | Ending balance | | $ | (254,787) | | | $ | (19) | | | $ | (254,806) | | | | | | | | | | | For the Nine Months Ended September 30, 2023 | ($ in thousands) | | Unrealized Loss on Securities Available for Sale | | Postretirement Plans Asset (Liability) | | Total | Beginning balance | | $ | (342,017) | | | $ | 42 | | | $ | (341,975) | | Other comprehensive loss before reclassifications | | (58,878) | | | — | | | (58,878) | | Amounts reclassified from accumulated other comprehensive income | | — | | | 101 | | | 101 | | Net current-period other comprehensive (loss) income | | (58,878) | | | 101 | | | (58,777) | | | | | | | | | Ending balance | | $ | (400,895) | | | $ | 143 | | | $ | (400,752) | |
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