Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2025

Statement of Other Comprehensive Income [Abstract]

The following tables present a reconciliation of the changes in the components of other comprehensive income (loss) for the dates indicated including the amount of income tax (expense) benefit allocated to each component of other comprehensive income (loss):


	For the Three Months Ended March 31,
	2025						2024
	Pre Tax Amount		Tax (Expense) Benefit		After Tax Amount		Pre Tax Amount		Tax Benefit (Expense)		After Tax Amount
	(In thousands)
Unrealized gains (losses) on securities available for sale:
Change in fair value of securities available for sale (1)	$	73,429	$	(104,438)	$	(31,009)	$	(37,085)	$	9,526	$	(27,559)
Less: reclassification adjustment for losses included in net income (1)	(269,638)		(12,689)		(282,327)		—		—		—
Net change in fair value of securities available for sale	343,067		(91,749)		251,318		(37,085)		9,526		(27,559)
Unrealized gains (losses) on cash flow hedges:
Change in fair value of cash flow hedges	6,405		(1,774)		4,631		(39,555)		10,956		(28,599)
Less: net cash flow hedge gains reclassified into interest income	(7,933)		2,197		(5,736)		(14,041)		3,889		(10,152)
Net change in fair value of cash flow hedges	14,338		(3,971)		10,367		(25,514)		7,067		(18,447)
Defined benefit pension plans:
Change in actuarial net loss	—		—		—		—		—		—
Less: amortization of actuarial net loss	(925)		256		(669)		(1,775)		492		(1,283)
Less: accretion of prior service credit	2,495		(691)		1,804		2,488		(689)		1,799
Net change in other comprehensive income for defined benefit postretirement plans	(1,570)		435		(1,135)		(713)		197		(516)
Total other comprehensive income (loss)	$	355,835	$	(95,285)	$	260,550	$	(63,312)	$	16,790	$	(46,522)

(1)Refer to Note 8, “Income Taxes,” for more information regarding the Company’s treatment of the loss on sale of securities during the three months ended March 31, 2025 for tax purposes.

Schedule of Accumulated Other Comprehensive Loss

The following table illustrates the changes in the balances of each component of accumulated other comprehensive loss, net of tax:


	Unrealized Losses on Available for Sale Securities		Unrealized Losses on Cash Flow Hedges		Defined Benefit Pension Plans		Total
	(In thousands)
Beginning Balance: January 1, 2025	$	(583,875)	$	(26,470)	$	26,016	$	(584,329)
Other comprehensive income before reclassifications	(31,009)		4,631		—		(26,378)
Less: Amounts reclassified from accumulated other comprehensive loss	(282,327)		(5,736)		1,135		(286,928)
Net current-period other comprehensive income (loss)	251,318		10,367		(1,135)		260,550
Ending Balance: March 31, 2025	$	(332,557)	$	(16,103)	$	24,881	$	(323,779)
Beginning Balance: January 1, 2024	$	(584,243)	$	(31,571)	$	7,462	$	(608,352)
Other comprehensive loss before reclassifications	(27,559)		(28,599)		—		(56,158)
Less: Amounts reclassified from accumulated other comprehensive loss	—		(10,152)		516		(9,636)
Net current-period other comprehensive loss	(27,559)		(18,447)		(516)		(46,522)
Ending Balance: March 31, 2024	$	(611,802)	$	(50,018)	$	6,946	$	(654,874)