Comprehensive Income (Loss) (Tables)

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)	Gross		Tax	Net
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 earnings	5,199		1,092	4,107

Amounts reclassified into net income (loss):
Net realized (gains) losses on disposals and intent-to-sell AFS securities	3,318		696	2,622
Credit loss (benefit) expense	1,255		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) loss	806		169	637

Total defined benefit pension and post-retirement plans	806		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)	Gross		Tax	Net
Net income (loss)	$	108,905	22,962	85,943
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) during the period	41,864		8,790	33,074
Unrealized gains (losses) on securities with credit loss recognized in earnings	11,022		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 securities	51,565		10,828	40,737
Defined benefit pension and post-retirement plans:

Amounts reclassified into net income (loss):
Net actuarial (gain) loss	873		184	689

Total defined benefit pension and post-retirement plans	873		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)	Gross		Tax	Net
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 securities	4,981		1,046	3,935
Credit loss (benefit) expense	9,409		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) loss	1,613		339	1,274

Total defined benefit pension and post-retirement plans	1,613		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)	Gross		Tax	Net
Net income (loss)	$	247,791	51,952	195,839
Components of OCI:
Unrealized gains (losses) on investment securities:
Unrealized holding gains (losses) during the period	111,124		23,335	87,789
Unrealized gains (losses) on securities with credit loss recognized in earnings	23,788		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 securities	132,688		27,863	104,825
Defined benefit pension and post-retirement plans:

Amounts reclassified into net income (loss):
Net actuarial (gain) loss	1,745		367	1,378

Total defined benefit pension and post-retirement plans	1,745		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, 2026	Net Unrealized Gains (Losses) on Investment Securities				Defined Benefit Pension and Post-Retirement Plans	Total 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 AOCI	7,433		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)	2026		2025	2026		2025
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) expense	1,255		(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 loss	621		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 taxes	637		689	1,274		1,378	Net income (loss)
Total reclassifications for the period	$	4,251	(355)	$	12,642	(379)	Net income (loss)