Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2025

Statement of Other Comprehensive Income [Abstract]

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


	Three Months Ended September 30, 2025						Nine Months Ended September 30, 2025
	Pre Tax Amount		Tax (Expense) Benefit		After Tax Amount		Pre Tax Amount		Tax (Expense) Benefit		After Tax Amount
	(In thousands)
Unrealized losses on securities available for sale:
Change in fair value of securities available for sale (1)	$	43,058	$	22,990	$	66,048	$	142,698	$	(67,838)	$	74,860
Less: reclassification adjustment for losses included in net income (1)	—		33,309		33,309		(269,638)		40,556		(229,082)
Net change in fair value of securities available for sale	43,058		(10,319)		32,739		412,336		(108,394)		303,942
Unrealized losses on cash flow hedges:
Change in fair value of cash flow hedges	(1,692)		468		(1,224)		4,281		(1,186)		3,095
Less: net cash flow hedge losses reclassified into interest income	(7,746)		2,146		(5,600)		(23,660)		6,554		(17,106)
Net change in fair value of cash flow hedges	6,054		(1,678)		4,376		27,941		(7,740)		20,201
Defined benefit pension plans:
Change in actuarial net loss	—		—		—		—		—		—
Less: amortization of actuarial net loss	(980)		271		(709)		(2,885)		799		(2,086)
Less: accretion of prior service credit	2,488		(689)		1,799		7,471		(2,069)		5,402
Net change in other comprehensive income for defined benefit postretirement plans	(1,508)		418		(1,090)		(4,586)		1,270		(3,316)
Total other comprehensive income	$	47,604	$	(11,579)	$	36,025	$	435,691	$	(114,864)	$	320,827

(1)Refer to Note 8, “Income Taxes,” for more information regarding the Company’s treatment of the loss on sale of securities during the nine months ended September 30, 2025 for tax purposes.


	Three Months Ended September 30, 2024						Nine Months Ended September 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	$	163,167	$	(41,669)	$	121,498	$	114,779	$	(26,697)	$	88,082
Less: reclassification adjustment for losses included in net income	—		—		—		(7,557)		2,094		(5,463)
Net change in fair value of securities available for sale	163,167		(41,669)		121,498		122,336		(28,791)		93,545
Unrealized losses on cash flow hedges:
Change in fair value of cash flow hedges	37,548		(10,400)		27,148		(14,003)		3,879		(10,124)
Less: net cash flow hedge losses reclassified into interest income	(13,900)		3,851		(10,049)		(42,003)		11,635		(30,368)
Net change in fair value of cash flow hedges	51,448		(14,251)		37,197		28,000		(7,756)		20,244
Defined benefit pension plans:
Change in actuarial net loss	—		—		—		—		—		—
Less: amortization of actuarial net loss	(1,775)		492		(1,283)		(5,325)		1,476		(3,849)
Less: accretion of prior service credit	2,488		(689)		1,799		7,465		(2,068)		5,397
Net change in other comprehensive income for defined benefit postretirement plans	(713)		197		(516)		(2,140)		592		(1,548)
Total other comprehensive income	$	213,902	$	(55,723)	$	158,179	$	148,196	$	(35,955)	$	112,241

Schedule of Accumulated Other Comprehensive (Loss) Income

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 reclassifications	74,860		3,095		—		77,955
Less: Amounts reclassified from accumulated other comprehensive loss	(229,082)		(17,106)		3,316		(242,872)
Net current-period other comprehensive income (loss)	303,942		20,201		(3,316)		320,827
Ending Balance: September 30, 2025	$	(279,933)	$	(6,269)	$	22,700	$	(263,502)
Beginning Balance: January 1, 2024	$	(584,243)	$	(31,571)	$	7,462	$	(608,352)
Other comprehensive income (loss) before reclassifications	88,082		(10,124)		—		77,958
Less: Amounts reclassified from accumulated other comprehensive income (loss)	(5,463)		(30,368)		1,548		(34,283)
Net current-period other comprehensive income (loss)	93,545		20,244		(1,548)		112,241
Ending Balance: September 30, 2024	$	(490,698)	$	(11,327)	$	5,914	$	(496,111)