Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Comprehensive Income (Loss)

The gross amounts of each component of other comprehensive income (loss) and the related tax effects for the periods indicated are as follows:

Year Ended December 31, 2024	Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount
Investment securities available-for sale:
Change in net unrealized gain during period	$	48.6	$	(12.0)	$	36.6
Net change in unamortized losses on available-for-sale securities transferred into held-to-maturity	(0.5)		—		(0.5)
Change in net unrealized losses on derivatives	(15.0)		4.0		(11.0)
Reclassification adjustment for derivative net losses included in net income	12.8		(3.3)		9.5
Total other comprehensive income	$	45.9	$	(11.3)	$	34.6

Year Ended December 31, 2023	Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount
Investment securities available-for sale:
Change in net unrealized gain during period	$	144.8	$	(36.1)	$	108.7
Reclassification adjustment for net losses included in net income	23.5		(5.8)		17.7
Reclassification adjustment for securities transferred from held-to-maturity to available-for-sale	(7.2)		1.8		(5.4)
Net change in unamortized losses on available-for-sale securities transferred into held-to-maturity	(1.3)		0.3		(1.0)
Change in net unrealized losses on derivatives	(6.5)		1.5		(5.0)
Reclassification adjustment for derivative net losses included in net income	7.4		(1.8)		5.6
Total other comprehensive income	$	160.7	$	(40.1)	$	120.6

Year Ended December 31, 2022	Before Tax Amount		Tax (Expense) Benefit		Net of Tax Amount
Investment securities available-for sale:
Change in net unrealized losses during period	$	(613.1)	$	152.4	$	(460.7)
Reclassification adjustment for net losses included in net income	24.4		(5.5)		18.9
Reclassification adjustment for securities transferred from held-to-maturity to available-for-sale	0.2		(0.1)		0.1
Net change in unamortized losses on available-for-sale securities transferred into held-to-maturity	(26.1)		6.6		(19.5)
Change in net unrealized losses on derivatives	(6.8)		1.8		(5.0)
Reclassification adjustment for derivative net losses included in net income	0.1		—		0.1
Total other comprehensive loss	$	(621.3)	$	155.2	$	(466.1)

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive loss, net of income taxes, are as follows:

Years ended December 31,	2024		2023		2022
Net unrealized loss on investment securities available-for-sale	$	(313.6)	$	(350.1)	$	(471.0)
Net unrealized loss on investment securities transferred to held-to-maturity	(5.9)		(5.6)		(4.5)
Net unrealized gain (loss) on derivatives	(2.4)		(0.8)		(1.6)
Net accumulated other comprehensive loss	$	(321.9)	$	(356.5)	$	(477.1)