ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Mar. 31, 2024

ACCUMULATED OTHER COMPREHENSIVE LOSS [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

NOTE 14 – ACCUMULATED OTHER COMPREHENSIVE LOSS 

The following table presents the changes in accumulated other comprehensive loss for the quarters ended March 31, 2024 and

2023:

Changes in Accumulated Other Comprehensive Loss by Component

(1)

Quarter ended March 31,

2024

2023

(In thousands)

Unrealized net holding losses on available-for-sale debt securities:

Beginning balance

$

(640,552)

$

(805,972)

 Other comprehensive (loss) income

(2)

(15,065)

87,228

Ending balance

$

(655,617)

$

(718,744)

Adjustment of pension and postretirement benefit plans:

Beginning balance

$

1,382

$

1,194

 Other comprehensive income

-

-

Ending balance

$

1,382

$

1,194

(1)

All amounts presented are net of tax.

(2)

Net unrealized holding (losses) gains on available-for-sale debt securities have no tax effect because securities are either tax-exempt, held by an IBE, or have a full deferred tax

asset valuation allowance.