Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss) for the years ended December 31:


	Before-Tax Amount		Tax Effect		Net of Tax Amount
	(dollars in thousands)
2023
Unrealized gain (loss) on securities	$	46,572	$	(10,549)	$	36,023
Reclassification adjustment for securities gains (losses) included in net income(1)	(733)		166		(567)
Amortization of net unrealized gains (losses) on AFS transferred to HTM(2)	7,644		(1,731)		5,913

Net unrealized holding gains (loss) arising during the period on interest rate derivatives used in cash flow hedges	9,048		(2,050)		6,998
Reclassification adjustment for net loss (gain) realized in net income on interest rate derivatives used in cash flow hedges	25,850		(5,855)		19,995
Unrecognized pension and postretirement income (cost)	6,162		(1,385)		4,777
Amortization of net unrecognized pension and postretirement items(3)	73		(16)		57
Total Other Comprehensive Income	$	94,616	$	(21,420)	$	73,196
2022
Unrealized gain (loss) on securities	$	(403,606)	$	91,437	$	(312,169)
Reclassification adjustment for securities gains (losses) included in net income(1)	(27)		7		(20)
Amortization of net unrealized gains (losses) on AFS transferred to HTM(2)	(57,509)		13,026		(44,483)
Net unrealized holding gain (loss) arising during the period on interest rate derivatives used in cash flow hedges	(81,400)		18,437		(62,963)
Reclassification adjustment for net loss (gain) realized in net income on interest rate derivatives used in cash flow hedges	7,761		(1,757)		6,004

Unrecognized pension and postretirement income (cost)	825		(181)		644
Amortization of net unrecognized pension and postretirement items(3)	128		(28)		100
Total Other Comprehensive (Loss)	$	(533,828)	$	120,941	$	(412,887)
2021
Unrealized gain (loss) on securities	$	(23,222)	$	5,274	$	(17,948)
Reclassification adjustment for securities gains (losses) included in net income(1)	(33,516)		7,611		(25,905)
Amortization of net unrealized gains (losses) on AFS transferred to HTM(2)	3,485		(795)		2,690
Net unrealized holding gains (loss) arising during the period on interest rate derivatives used in cash flow hedges	(3,452)		782		(2,670)

Reclassification adjustment for net loss realized in net income on interest rate swaps used in cash flow hedges	(2,776)		629		(2,147)
Unrecognized pension and postretirement income (cost)	9,147		(2,003)		7,144
Amortization of net unrecognized pension and postretirement items(3)	1,480		(324)		1,156
Total Other Comprehensive Income (Loss)	$	(48,854)	$	11,174	$	(37,680)

(1) Amounts reclassified out of AOCI. Before-tax amounts included in "Investment securities gains, net" on the Consolidated Statements of Income. See "Note 4

- Investment Securities," for additional details.

(2) Amounts reclassified out of AOCI. Before-tax amounts included as a reduction to "Interest Income" on the Consolidated Statements of Income.

(3) Amounts reclassified out of AOCI. Before-tax amounts included in "Salaries and employee benefits" on the Consolidated Statements of Income. See "Note

17 - Employee Benefit Plans," for additional details.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in each component of accumulated other comprehensive income (loss), net of tax, for the years ended December 31:


	Unrealized Gains (Losses) on Investment Securities		Net Unrealized Gain (Loss) on Interest Rate Derivatives used in Cash Flow Hedges		Unrecognized Pension and Postretirement Plan Income (Costs)		Total
	(dollars in thousands)
Balance at December 31, 2020	$	81,604	$	—	$	(16,513)	$	65,091
OCI before reclassifications	(17,948)		—		7,144		(10,804)
Amounts reclassified from AOCI gain (loss)	(25,905)		(4,817)		1,156		(29,566)
Amortization of net unrealized gains (losses) on AFS securities transferred to HTM	2,690		—		—		2,690

Balance at December 31, 2021	40,441		(4,817)		(8,213)		27,411
OCI before reclassifications	(312,169)		(62,963)		644		(374,488)
Amounts reclassified from AOCI	(20)		6,004		100		6,084
Amortization of net unrealized gains (losses) on AFS securities transferred to HTM	(44,483)		—		—		(44,483)
Balance at December 31, 2022	(316,231)		(61,776)		(7,469)		(385,476)
OCI before reclassifications	36,023		6,998		4,777		47,798
Amounts reclassified from AOCI	(567)		19,995		57		19,485
Amortization of net unrealized gains (losses) on AFS securities transferred to HTM	5,913		—		—		5,913
Balance at December 31, 2023	$	(274,862)	$	(34,783)	$	(2,635)	$	(312,280)