Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2026

Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in the components of AOCI balances for the three months ended March 31, 2026 and 2025:



($ in thousands)	Debt Securities (1)		Cash Flow Hedges		Foreign Currency Translation Adjustments (2)		Total
Balance, January 1, 2025	$	(542,152)	$	(20,787)	$	(22,321)	$	(585,260)
Net unrealized gains (losses) arising during the period	57,377		26,325		(1,012)		82,690
Amounts reclassified from AOCI	2,600		4,955		—		7,555
Changes, net of tax	59,977		31,280		(1,012)		90,245
Balance, March 31, 2025	$	(482,175)	$	10,493	$	(23,333)	$	(495,015)

Balance, January 1, 2026	$	(353,232)	$	28,209	$	(20,587)	$	(345,610)
Net unrealized (losses) gains arising during the period	(32,472)		(15,765)		4,086		(44,151)
Amounts reclassified from AOCI	1,952		(411)		—		1,541
Changes, net of tax	(30,520)		(16,176)		4,086		(42,610)
Balance, March 31, 2026	$	(383,752)	$	12,033	$	(16,501)	$	(388,220)

(1)Includes after-tax unamortized losses related to AFS debt securities that were transferred to HTM in 2022.

(2)Represents foreign currency translation adjustments related to the Company’s net investments in non-U.S. operations.

The following table presents the components of other comprehensive income (loss), reclassifications to net income and the related tax effects for the three months ended March 31, 2026 and 2025:



	Three Months Ended March 31,
	2026						2025
($ in thousands)	Before-Tax		Tax Effect		Net-of-Tax		Before-Tax		Tax Effect		Net-of-Tax
Debt securities:
Net unrealized (losses) gains arising during the period	$	(46,086)	$	13,614	$	(32,472)	$	81,538	$	(24,161)	$	57,377
Reclassification adjustments:
Net realized gains on AFS debt securities reclassified into net income (1)	(808)		239		(569)		(131)		39		(92)
Amortization of unrealized losses on transferred securities (2)	3,579		(1,058)		2,521		3,822		(1,130)		2,692
Net change	(43,315)		12,795		(30,520)		85,229		(25,252)		59,977
Cash flow hedges:
Net unrealized (losses) gains arising during the period	(22,382)		6,617		(15,765)		37,466		(11,141)		26,325
Net realized (gains) losses reclassified into net income (3)	(583)		172		(411)		7,052		(2,097)		4,955
Net change	(22,965)		6,789		(16,176)		44,518		(13,238)		31,280
Foreign currency translation adjustments:
Net unrealized gains (losses) arising during the period	4,086		—		4,086		(1,012)		—		(1,012)
Net change	4,086		—		4,086		(1,012)		—		(1,012)
Other comprehensive (loss) income	$	(62,194)	$	19,584	$	(42,610)	$	128,735	$	(38,490)	$	90,245

(1)Pre-tax amounts were reported in Net gains on AFS debt securities and Provision for Credit Losses on the Consolidated Statement of Income. Refer to Note 4 — Securities — Realized Gains and Reversal of Credit Losses for further details.

(2)Represents unrealized losses amortized over the remaining lives of securities that were transferred from the AFS to HTM portfolio in 2022.

(3)Pre-tax amounts related to cash flow hedges on variable rate loans were reported in Interest and dividend income on the Consolidated Statement of Income.