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Other Comprehensive Income (Loss)
6 Months Ended
Jun. 30, 2025
Statement of Other Comprehensive Income [Abstract]  
Other Comprehensive Income (Loss) Other Comprehensive Income (Loss)
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):
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Pre Tax
Amount
Tax
(Expense) Benefit
After Tax
Amount
Pre Tax
Amount
Tax
(Expense) Benefit
After Tax
Amount
(In thousands)
Unrealized gains on securities available for sale:
Change in fair value of securities available for sale (1)
$26,211 $13,610 $39,821 $99,640 $(90,828)$8,812 
Less: reclassification adjustment for losses included in net income (1)
— 19,936 19,936 (269,638)7,247 (262,391)
Net change in fair value of securities available for sale
26,211 (6,326)19,885 369,278 (98,075)271,203 
Unrealized gains on cash flow hedges:
Change in fair value of cash flow hedges
(432)120 (312)5,973 (1,654)4,319 
Less: net cash flow hedge losses reclassified into interest income(7,981)2,211 (5,770)(15,914)4,408 (11,506)
Net change in fair value of cash flow hedges
7,549 (2,091)5,458 21,887 (6,062)15,825 
Defined benefit pension plans:
Change in actuarial net loss— — — — — — 
Less: amortization of actuarial net loss(980)272 (708)(1,905)528 (1,377)
Less: accretion of prior service credit2,488 (689)1,799 4,983 (1,380)3,603 
Net change in other comprehensive income for defined benefit postretirement plans
(1,508)417 (1,091)(3,078)852 (2,226)
Total other comprehensive income$32,252 $(8,000)$24,252 $388,087 $(103,285)$284,802 
(1)Refer to Note 8, “Income Taxes,” for more information regarding the Company’s treatment of the loss on sale of securities during the six months ended June 30, 2025 for tax purposes.
Three Months Ended June 30, 2024Six Months Ended June 30, 2024
Pre Tax
Amount
Tax
Benefit (Expense)
After Tax
Amount
Pre Tax
Amount
Tax
Benefit (Expense)
After Tax
Amount
(In thousands)
Unrealized losses on securities available for sale:
Change in fair value of securities available for sale
$(11,303)$5,446 $(5,857)$(48,388)$14,972 $(33,416)
Less: reclassification adjustment for losses included in net income(7,557)2,094 (5,463)(7,557)2,094 (5,463)
Net change in fair value of securities available for sale
(3,746)3,352 (394)(40,831)12,878 (27,953)
Unrealized losses on cash flow hedges:
Change in fair value of cash flow hedges
(11,996)3,323 (8,673)(51,551)14,279 (37,272)
Less: net cash flow hedge losses reclassified into interest income(14,062)3,895 (10,167)(28,103)7,784 (20,319)
Net change in fair value of cash flow hedges
2,066 (572)1,494 (23,448)6,495 (16,953)
Defined benefit pension plans:
Change in actuarial net loss— — — — — — 
Less: amortization of actuarial net loss(1,775)492 (1,283)(3,550)984 (2,566)
Less: accretion of prior service credit2,489 (690)1,799 4,977 (1,379)3,598 
Net change in other comprehensive income for defined benefit postretirement plans
(714)198 (516)(1,427)395 (1,032)
Total other comprehensive income (loss)$(2,394)$2,978 $584 $(65,706)$19,768 $(45,938)
The following table illustrates the changes in the balances of each component of accumulated other comprehensive (loss) income, net of tax:
Unrealized
Gains and
(Losses) on
Available for
Sale Securities
Unrealized
Gains and
(Losses) on
Cash Flow
Hedges
Defined Benefit
Pension Plans
Total
(In thousands)
Beginning Balance: January 1, 2025$(583,875)$(26,470)$26,016 $(584,329)
Other comprehensive income before reclassifications8,812 4,319 — 13,131 
Less: Amounts reclassified from accumulated other comprehensive loss(262,391)(11,506)2,226 (271,671)
Net current-period other comprehensive income (loss)271,203 15,825 (2,226)284,802 
Ending Balance: June 30, 2025$(312,672)$(10,645)$23,790 $(299,527)
Beginning Balance: January 1, 2024$(584,243)$(31,571)$7,462 $(608,352)
Other comprehensive loss before reclassifications(33,416)(37,272)— (70,688)
Less: Amounts reclassified from accumulated other comprehensive loss(5,463)(20,319)1,032 (24,750)
Net current-period other comprehensive (loss)(27,953)(16,953)(1,032)(45,938)
Ending Balance: June 30, 2024$(612,196)$(48,524)$6,430 $(654,290)