Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

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)

Amounts reclassified from AOCI for unrealized gain (loss) on securities available for sale represent realized securities gains or losses, net of tax effects. Amounts reclassified from AOCI for postretirement plans asset (liability) represent amortization of amounts included in AOCI, net of taxes, and are recorded in the "Other operating expenses" line item of the consolidated statements of income.