v3.26.1
Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2026
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Comprehensive Income (Loss) Comprehensive Income (Loss)
The components of comprehensive income (loss), both gross and net of tax, for Second Quarter 2026 and Six Months 2026 and Second Quarter 2025 and Six Months 2025 were as follows:

Second Quarter 2026   
($ in thousands)GrossTaxNet
Net income (loss)
$162,845 33,460 129,385 
Components of OCI:   
Unrealized gains (losses) on investment securities:
   
Unrealized holding gains (losses) during the period(13,709)(2,874)(10,835)
Unrealized gains (losses) on securities with credit loss recognized in earnings5,199 1,092 4,107 
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities3,318 696 2,622 
Credit loss (benefit) expense1,255 263 992 
    Total unrealized gains (losses) on investment securities(3,937)(823)(3,114)
Defined benefit pension and post-retirement plans:   
Amounts reclassified into net income (loss):
   
Net actuarial (gain) loss806 169 637 
    Total defined benefit pension and post-retirement plans806 169 637 
Other comprehensive income (loss)(3,131)(654)(2,477)
Comprehensive income (loss)$159,714 32,806 126,908 
Second Quarter 2025   
($ in thousands)GrossTaxNet
Net income (loss)
$108,905 22,962 85,943 
Components of OCI:   
Unrealized gains (losses) on investment securities:   
Unrealized holding gains (losses) during the period41,864 8,790 33,074 
Unrealized gains (losses) on securities with credit loss recognized in earnings11,022 2,315 8,707 
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities(434)(91)(343)
Credit loss (benefit) expense(887)(186)(701)
    Total unrealized gains (losses) on investment securities51,565 10,828 40,737 
Defined benefit pension and post-retirement plans:   
Amounts reclassified into net income (loss):
   
Net actuarial (gain) loss873 184 689 
    Total defined benefit pension and post-retirement plans873 184 689 
Other comprehensive income (loss)52,438 11,012 41,426 
Comprehensive income (loss)$161,343 33,974 127,369 
Six Months 2026
($ in thousands)GrossTaxNet
Net income (loss)
$287,047 59,986 227,061 
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) during the period(95,581)(20,072)(75,509)
Unrealized gains (losses) on securities with credit loss recognized in earnings(13,356)(2,805)(10,551)
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities4,981 1,046 3,935 
Credit loss (benefit) expense9,409 1,976 7,433 
Total unrealized gains (losses) on investment securities(94,547)(19,855)(74,692)
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income (loss):
Net actuarial (gain) loss1,613 339 1,274 
Total defined benefit pension and post-retirement plans1,613 339 1,274 
Other comprehensive income (loss)(92,934)(19,516)(73,418)
Comprehensive income (loss)$194,113 40,470 153,643 
Six Months 2025
($ in thousands)GrossTaxNet
Net income (loss)
$247,791 51,952 195,839 
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) during the period111,124 23,335 87,789 
Unrealized gains (losses) on securities with credit loss recognized in earnings23,788 4,995 18,793 
Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities(708)(149)(559)
Credit loss (benefit) expense(1,516)(318)(1,198)
Total unrealized gains (losses) on investment securities132,688 27,863 104,825 
Defined benefit pension and post-retirement plans:
Amounts reclassified into net income (loss):
Net actuarial (gain) loss1,745 367 1,378 
Total defined benefit pension and post-retirement plans1,745 367 1,378 
Other comprehensive income (loss)134,433 28,230 106,203 
Comprehensive income (loss)$382,224 80,182 302,042 

The following table shows each component of accumulated other comprehensive income (loss) ("AOCI") (net of taxes), including balances and changes, as of June 30, 2026:

June 30, 2026Net Unrealized Gains (Losses) on Investment SecuritiesDefined Benefit Pension and Post-Retirement PlansTotal AOCI
($ in thousands)
Credit Loss Related1
All
Other		Investments
Subtotal
Balance, December 31, 2025
$(44,973)(24,861)(69,834)(81,826)(151,660)
OCI before reclassifications(10,551)(75,509)(86,060)— (86,060)
Amounts reclassified from AOCI7,433 3,935 11,368 1,274 12,642 
Net current period OCI(3,118)(71,574)(74,692)1,274 (73,418)
Balance, June 30, 2026
$(48,091)(96,435)(144,526)(80,552)(225,078)
1Represents change in unrealized gains (losses) on securities with credit loss recognized in earnings.
The reclassifications out of AOCI were as follows:

Quarter ended
June 30,		Six Months ended
June 30,		Affected Line Item in the Unaudited Consolidated Statements of Income
($ in thousands)2026202520262025
Net realized (gains) losses on disposals and intent-to-sell AFS securities
Net realized (gains) losses
$3,318 (434)$4,981 (708)Net realized and unrealized investment gains (losses)
Tax (benefit) expense
(696)91 (1,046)149 Total income tax expense (benefit)
Net of taxes
2,622 (343)3,935 (559)Net income (loss)
Credit loss related
Credit loss (benefit) expense1,255 (887)9,409 (1,516)Net realized and unrealized investment gains (losses)
Tax (benefit) expense
(263)186 (1,976)318 Total income tax expense (benefit)
Net of taxes
992 (701)7,433 (1,198)Net income (loss)
Defined benefit pension and post-retirement life plans
Net actuarial loss 185 200 371 401 Loss and loss expense incurred
Net actuarial loss621 673 1,242 1,344 Other insurance expenses
Total
806 873 1,613 1,745 Income (loss) before income tax
Tax (benefit) expense(169)(184)(339)(367)Total income tax expense (benefit)
Net of taxes637 689 1,274 1,378 Net income (loss)
Total reclassifications for the period$4,251 (355)$12,642 (379)Net income (loss)