Comprehensive Income

9 Months Ended

Sep. 30, 2012

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

Comprehensive Income

Comprehensive Income

The components of comprehensive income, both gross and net of tax, for Third Quarter 2012 and 2011 are as follows:

Third Quarter 2012
($ in thousands)	Gross			Tax		Net
Net income	$	20,314		2,040		18,274
Components of OCI:
Unrealized gains on securities:
Unrealized holding gains during the period	36,620			12,817		23,803
Portion of OTTI recognized in OCI	2,031			711		1,320
Amortization of net unrealized gains on HTM securities	827			290		537
Reclassification adjustment for gains included in net income	(125		)	(44	)	(81	)
Net unrealized gains	39,353			13,774		25,579
Defined benefit pension and post-retirement plans:
Reversal of amortization items:
Net actuarial loss	1,391			487		904
Prior service cost	38			14		24
Defined benefit pension and post-retirement plans	1,429			501		928
Comprehensive income	$	61,096		16,315		44,781

Third Quarter 2011
($ in thousands)	Gross			Tax		Net
Net loss	$	(38,483	)	(20,515	)	(17,968	)
Components of OCI:
Unrealized gains on securities:
Unrealized holding gains during the period	14,712			5,148		9,564
Portion of OTTI recognized in OCI	(81		)	(28	)	(53	)
Amortization of net unrealized gains on HTM securities	(664		)	(232	)	(432	)
Reclassification adjustment for gains included in net income	1,907			668		1,239
Net unrealized gains	15,874			5,556		10,318
Defined benefit pension and post-retirement plans:
Reversal of amortization items:
Net actuarial loss	1,043			365		678
Prior service cost	38			14		24
Defined benefit pension and post-retirement plans	1,081			379		702
Comprehensive loss	$	(21,528	)	(14,580	)	(6,948	)

The components of comprehensive income, both gross and net of tax, for Nine Months 2012 and 2011 are as follows:

Nine Months 2012
($ in thousands)	Gross			Tax		Net
Net income	$	42,813		6,158		36,655
Components of OCI:
Unrealized gains on securities:
Unrealized holding gains during the period	64,273			22,496		41,777
Portion of OTTI recognized in OCI	2,512			879		1,633
Amortization of net unrealized gains on HTM securities	(649		)	(227	)	(422	)
Reclassification adjustment for gains included in net income	(4,702		)	(1,646	)	(3,056	)
Net unrealized gains	61,434			21,502		39,932
Defined benefit pension and post-retirement plans:
Reversal of amortization items:
Net actuarial loss	4,172			1,460		2,712
Prior service cost	113			40		73
Defined benefit pension and post-retirement plans	4,285			1,500		2,785
Comprehensive income	$	108,532		29,160		79,372

Nine Months 2011
($ in thousands)	Gross			Tax		Net
Net (loss) income	$	(12,424	)	(16,423	)	3,999
Components of OCI:
Unrealized gains on securities:
Unrealized holding gains during the period	43,878			15,357		28,521
Portion of OTTI recognized in OCI	517			181		336
Amortization of net unrealized gains on HTM securities	(3,097		)	(1,084	)	(2,013	)
Reclassification adjustment for gains included in net income	(5,986		)	(2,095	)	(3,891	)
Net unrealized gains	35,312			12,359		22,953
Defined benefit pension and post-retirement plans:
Reversal of amortization items:
Net actuarial loss	3,252			1,138		2,114
Prior service cost	113			40		73
Defined benefit pension and post-retirement plans	3,365			1,178		2,187
Comprehensive loss	$	26,253		(2,886	)	29,139

The balances of, and changes in, each component of AOCI (net of taxes) as of September 30, 2012 are as follows:

September 30, 2012	Net Unrealized Gain (Loss)
($ in thousands)	OTTI Related			HTM Related		All Other	Defined Benefit Pension and Post-Retirement Plans		Total Accumulated OCI
Balance, December 31, 2011	$	(3,500	)	4,622		96,125	(54,953	)	42,294
Changes in component during period	1,633			(1,249	)	39,548	2,785		42,717
Balance, September 30, 2012	$	(1,867	)	3,373		135,673	(52,168	)	85,011