Comprehensive Income (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2020

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

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

Third Quarter 2020
($ in thousands)	Gross		Tax	Net
Net income	$	85,257	15,382	69,875
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	37,836		7,947	29,889
Non-credit portion of OTTI recognized in OCI	9,239		1,940	7,299
Amounts reclassified into net income:
HTM securities	(1)		(1)	—
Realized gains on disposals and intent-to-sell OTTI on AFS securities	(515)		(109)	(406)
Credit loss benefit recognized in OTTI	(2,853)		(599)	(2,254)
Total unrealized gains on investment securities	43,706		9,178	34,528
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 income	44,460		9,336	35,124
Comprehensive income	$	129,717	24,718	104,999
Third Quarter 2019
($ in thousands)	Gross		Tax	Net
Net income	$	71,178	15,028	56,150
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	34,392		7,224	27,168
Amounts reclassified into net income:
HTM securities	(3)		(1)	(2)
Realized losses on disposals and OTTI of AFS securities	2,821		592	2,229
Total unrealized gains on investment securities	37,210		7,815	29,395
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	665		140	525
Total defined benefit pension and post-retirement plans	665		140	525
Other comprehensive income	37,875		7,955	29,920
Comprehensive income	$	109,053	22,983	86,070

Nine Months 2020
($ in thousands)	Gross		Tax	Net
Net income	$	143,947	24,653	119,294
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	132,623		27,852	104,771
Non-credit portion of OTTI recognized in OCI	(18,672)		(3,921)	(14,751)
Amounts reclassified into net income:
HTM securities	(7)		(2)	(5)
Realized losses on disposals and intent-to-sell OTTI on AFS securities	9,126		1,916	7,210
Credit loss expense recognized in OTTI	8,010		1,682	6,328
Total unrealized gains on investment securities	131,080		27,527	103,553
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	2,261		474	1,787
Total defined benefit pension and post-retirement plans	2,261		474	1,787
Other comprehensive income	133,341		28,001	105,340
Comprehensive income	$	277,288	52,654	224,634
Nine Months 2019
($ in thousands)	Gross		Tax	Net
Net income	$	235,097	45,333	189,764
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	220,864		46,381	174,483
Amounts reclassified into net income:
HTM securities	(33)		(7)	(26)
Realized losses on disposals and OTTI of AFS securities	444		93	351
Total unrealized gains on investment securities	221,275		46,467	174,808
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	1,993		419	1,574
Total defined benefit pension and post-retirement plans	1,993		419	1,574
Other comprehensive income	223,268		46,886	176,382
Comprehensive income	$	458,365	92,219	366,146

Third Quarter 2020
($ in thousands)	Gross		Tax	Net
Net income	$	85,257	15,382	69,875
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	37,836		7,947	29,889
Non-credit portion of OTTI recognized in OCI	9,239		1,940	7,299
Amounts reclassified into net income:
HTM securities	(1)		(1)	—
Realized gains on disposals and intent-to-sell OTTI on AFS securities	(515)		(109)	(406)
Credit loss benefit recognized in OTTI	(2,853)		(599)	(2,254)
Total unrealized gains on investment securities	43,706		9,178	34,528
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 income	44,460		9,336	35,124
Comprehensive income	$	129,717	24,718	104,999
Third Quarter 2019
($ in thousands)	Gross		Tax	Net
Net income	$	71,178	15,028	56,150
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	34,392		7,224	27,168
Amounts reclassified into net income:
HTM securities	(3)		(1)	(2)
Realized losses on disposals and OTTI of AFS securities	2,821		592	2,229
Total unrealized gains on investment securities	37,210		7,815	29,395
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	665		140	525
Total defined benefit pension and post-retirement plans	665		140	525
Other comprehensive income	37,875		7,955	29,920
Comprehensive income	$	109,053	22,983	86,070

Nine Months 2020
($ in thousands)	Gross		Tax	Net
Net income	$	143,947	24,653	119,294
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	132,623		27,852	104,771
Non-credit portion of OTTI recognized in OCI	(18,672)		(3,921)	(14,751)
Amounts reclassified into net income:
HTM securities	(7)		(2)	(5)
Realized losses on disposals and intent-to-sell OTTI on AFS securities	9,126		1,916	7,210
Credit loss expense recognized in OTTI	8,010		1,682	6,328
Total unrealized gains on investment securities	131,080		27,527	103,553
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	2,261		474	1,787
Total defined benefit pension and post-retirement plans	2,261		474	1,787
Other comprehensive income	133,341		28,001	105,340
Comprehensive income	$	277,288	52,654	224,634
Nine Months 2019
($ in thousands)	Gross		Tax	Net
Net income	$	235,097	45,333	189,764
Components of OCI:
Unrealized gains on investment securities:
Unrealized holding gains during the period	220,864		46,381	174,483
Amounts reclassified into net income:
HTM securities	(33)		(7)	(26)
Realized losses on disposals and OTTI of AFS securities	444		93	351
Total unrealized gains on investment securities	221,275		46,467	174,808
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income:
Net actuarial loss	1,993		419	1,574
Total defined benefit pension and post-retirement plans	1,993		419	1,574
Other comprehensive income	223,268		46,886	176,382
Comprehensive income	$	458,365	92,219	366,146

Schedule of Components of Accumulated Other Comprehensive Income Net of Tax

September 30, 2020						Defined Benefit Pension and Post-Retirement Plans
	Net Unrealized Gains (Losses) on Investment Securities						Total AOCI
($ in thousands)	OTTI Related1		HTM Related	All Other	Investments Subtotal
Balance, December 31, 2019	$	(71)	25	170,439	170,393	(88,643)	81,750
OCI before reclassifications	(14,751)		—	104,771	90,020	—	90,020
Amounts reclassified from AOCI	6,328		(5)	7,210	13,533	1,787	15,320
Net current period OCI	(8,423)		(5)	111,981	103,553	1,787	105,340
Balance, September 30, 2020	$	(8,494)	20	282,420	273,946	(86,856)	187,090

Schedule of Reclassifications Out Of Accumulated Other Comprehensive Income

	Quarter ended September 30,			Nine Months ended September 30,		Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands)	2020		2019	2020	2019
HTM related
Unrealized losses (gains) on HTM disposals	$	4	(3)	5	(12)	Net realized and unrealized gains (losses)
Amortization of net unrealized gains on HTM securities	(5)		—	(12)	(21)	Net investment income earned
	(1)		(3)	(7)	(33)	Income before federal income tax
	1		1	2	7	Total federal income tax expense
	—		(2)	(5)	(26)	Net income
Net realized (gains) losses on disposals and intent-to-sell OTTI
Net realized (gains) losses on disposals and intent-to-sell OTTI	(515)		2,821	9,126	444	Net realized and unrealized gains (losses)
	(515)		2,821	9,126	444	Income before federal income tax
	109		(592)	(1,916)	(93)	Total federal income tax expense
	(406)		2,229	7,210	351	Net income
OTTI related
Credit loss (benefit) expense recognized in OTTI	(2,853)		—	8,010	—	Net realized and unrealized gains (losses)
	(2,853)		—	8,010	—	Income before federal income tax
	599		—	(1,682)	—	Total federal income tax expense
	(2,254)		—	6,328	—	Net income
Defined benefit pension and post-retirement life plans
Net actuarial loss	162		146	486	436	Loss and loss expense incurred
	592		519	1,775	1,557	Other insurance expenses
Total defined benefit pension and post-retirement life	754		665	2,261	1,993	Income before federal income tax
	(158)		(140)	(474)	(419)	Total federal income tax expense
	596		525	1,787	1,574	Net income
Total reclassifications for the period	$	(2,064)	2,752	15,320	1,899	Net income