Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following tables summarize the components of accumulated other comprehensive income (loss) at September 30, 2023 and 2022, including changes during the preceding three and nine month periods as well as any reclassifications out of accumulated other comprehensive income (loss):


($ in thousands)	AFS Investment Securities		Cash Flow Hedge Derivatives		Defined Benefit Pension and Postretirement Obligations		Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2022	$	(233,192)	$	3,360	$	(42,968)	$	(272,799)
Other comprehensive (loss) before reclassifications	(69,512)		—		—		(69,512)

Amounts reclassified from accumulated other comprehensive income (loss):

HTM investment securities, net, at amortized cost	6,883		—		—		6,883
Other assets / accrued expenses and other liabilities	—		(33,976)		—		(33,976)
Interest income	—		9,097		—		9,097
Personnel expense	—		—		(244)		(244)
Other expense	—		—		15		15
Income tax benefit	15,879		5,488		31		21,398
Net other comprehensive loss during period	(46,751)		(19,391)		(198)		(66,340)
Balance September 30, 2023	$	(279,943)	$	(16,032)	$	(43,166)	$	(339,140)

Balance December 31, 2021	$	(5,266)	$	—	$	(5,051)	$	(10,317)
Other comprehensive (loss) before reclassifications	(268,413)		—		—		(268,413)
Unrealized (losses) on AFS securities transferred to HTM securities	(67,604)		—		—		(67,604)
Amounts reclassified from accumulated other comprehensive income (loss):
Investment securities (gains), net	(12)		—		—		(12)
HTM investment securities, net, at amortized cost	7,269		—		—		7,269


Personnel expense	—		—		(244)		(244)
Other expense	—		—		494		494
Income tax (expense) benefit	83,906		—		(470)		83,436
Net other comprehensive (loss) during period	(244,854)		—		(221)		(245,074)
Balance September 30, 2022	$	(250,120)	$	—	$	(5,272)	$	(255,391)


($ in thousands)	AFS Investment Securities		Cash Flow Hedge Derivatives		Defined Benefit Pension and Postretirement Obligations		Accumulated Other Comprehensive Income (Loss)
Balance June 30, 2023	$	(239,273)	$	(9,270)	$	(43,099)	$	(291,642)
Other comprehensive (loss) before reclassifications	(56,924)		—		—		(56,924)

Amounts reclassified from accumulated other comprehensive income (loss):

HTM investment securities, net, at amortized cost	2,327		—		—		2,327
Other assets / accrued expenses and other liabilities	—		(13,592)		—		(13,592)
Interest income	—		4,516		—		4,516
Personnel expense	—		—		(81)		(81)
Other expense	—		—		(7)		(7)
Income tax benefit	13,928		2,315		23		16,266
Net other comprehensive (loss) during period	(40,669)		(6,762)		(66)		(47,497)
Balance September 30, 2023	$	(279,943)	$	(16,032)	$	(43,166)	$	(339,140)

Balance June 30, 2022	$	(177,726)	$	—	$	(5,062)	$	(182,788)
Other comprehensive (loss) before reclassifications	(100,092)		—		—		(100,092)

Amounts reclassified from accumulated other comprehensive income (loss):

HTM investment securities, net, at amortized cost	2,888		—		—		2,888


Personnel expense	—		—		(82)		(82)
Other expense	—		—		347		347
Income tax (expense) benefit	24,810		—		(474)		24,336
Net other comprehensive (loss) during period	(72,394)		—		(209)		(72,603)
Balance September 30, 2022	$	(250,120)	$	—	$	(5,272)	$	(255,391)