Accumulated Other Comprehensive (Loss) Income (Tables)

6 Months Ended

Jun. 30, 2024

Changes in other comprehensive income (loss)

The following table presents the components of other comprehensive income (loss):


	Before-Tax Amount		Tax Effect		Net of Tax Amount
	(dollars in thousands)
Three months ended June 30, 2024
Net unrealized gain on securities	$	(18,356)	$	4,157	$	(14,199)
Reclassification adjustment for securities net change included in net income(1)	20,282		(4,594)		15,688
Amortization of net unrealized gains on AFS securities transferred to HTM(1)	1,815		(412)		1,403
Net unrealized holding gains arising during the period on interest rate derivatives used in cash flow hedges	2,916		(660)		2,256
Reclassification adjustment for net change realized in net income on interest rate derivatives used in cash flow hedges	5,002		(1,111)		3,891
Amortization of net unrecognized pension and postretirement items(2)	(136)		31		(105)
Total Other Comprehensive Income	$	11,523	$	(2,589)	$	8,934

Three months ended June 30, 2023
Net unrealized losses on securities	$	(40,361)	$	9,142	$	(31,219)
Reclassification adjustment for securities net change included in net income(3)	(4)		1		(3)
Amortization of net unrealized gains on AFS securities transferred to HTM(1)	1,941		(440)		1,501
Net unrealized holding losses arising during the period on interest rate derivatives used in cash flow hedges	(7,251)		1,665		(5,586)
Reclassification adjustment for net change realized in net income on interest rate derivatives used in cash flow hedges	7,032		(22)		7,010
Amortization of net unrecognized pension and postretirement items(2)	4		(1)		3
Total Other Comprehensive Loss	$	(38,639)	$	10,345	$	(28,294)

Six months ended June 30, 2024
Unrealized gain on securities	$	(39,902)	$	9,038	$	(30,864)
Reclassification adjustment for securities net change included in net income(3)	20,282		(4,594)		15,688
Amortization of net unrealized gains on AFS securities transferred to HTM(1)	3,608		(818)		2,790
Net unrealized holding gains arising during the period on interest rate derivatives used in cash flow hedges	8,472		(1,919)		6,553
Reclassification adjustment for net change realized in net income on interest rate swaps used in cash flow hedges	10,014		(2,224)		7,790
Amortization of net unrecognized pension and postretirement item(2)	(271)		60		(211)
Total Other Comprehensive Income	$	2,203	$	(457)	$	1,746

Six months ended June 30, 2023
Unrealized gain on securities	$	1,838	$	(416)	$	1,422
Reclassification adjustment for securities net change included in net income(3)	18		(4)		14
Amortization of net unrealized gains on AFS securities transferred to HTM(1)	3,851		(872)		2,979
Net unrealized holding losses arising during the period on interest rate derivatives used in cash flow hedges	5,284		(17,690)		(12,406)
Reclassification adjustment for change realized in net income on interest rate swaps used in cash flow hedges	14,189		(36)		14,153
Amortization of net unrecognized pension and postretirement items(2)	36		(8)		28
Total Other Comprehensive Income	$	25,216	$	(19,026)	$	6,190

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

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

12 - Employee Benefit Plans," for additional details.

(3) 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.

Changes in each component of accumulated other comprehensive income (loss)

The following table presents changes in each component of accumulated other comprehensive income (loss), net of tax:


	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)
Three months ended June 30, 2024
Balance at March 31, 2024	$	(290,140)	$	(26,587)	$	(2,741)	$	(319,468)
OCI before reclassifications	(14,199)		2,256		—		(11,943)
Amounts reclassified from AOCI	15,688		3,891		(105)		19,474
Amortization of net unrealized gains on AFS securities transferred to HTM	1,403		—		—		1,403

Balance at June 30, 2024	$	(287,248)	$	(20,440)	$	(2,846)	$	(310,534)

Three months ended June 30, 2023
Balance at March 31, 2023	$	(282,095)	$	(61,453)	$	(7,444)	$	(350,992)
OCI before reclassifications	(31,219)		(5,586)		—		(36,805)
Amounts reclassified from AOCI	(3)		7,010		3		7,010
Amortization of net unrealized losses on AFS securities transferred to HTM	1,501		—		—		1,501

Balance at June 30, 2023	$	(311,816)	$	(60,029)	$	(7,441)	$	(379,286)

Six months ended June 30, 2024
Balance at December 31, 2023	$	(274,862)	$	(34,783)	$	(2,635)	$	(312,280)
OCI before reclassifications	(30,864)		6,553		—		(24,311)
Amounts reclassified from AOCI	15,688		7,790		(211)		23,267
Amortization of net unrealized gains on AFS securities transferred to HTM	2,790		—		—		2,790

Balance at June 30, 2024	$	(287,248)	$	(20,440)	$	(2,846)	$	(310,534)

Six months ended June 30, 2023
Balance at December 31, 2022	$	(316,231)	$	(61,776)	$	(7,469)	$	(385,476)
OCI before reclassifications	1,422		(12,406)		—		(10,984)
Amounts reclassified from AOCI	14		14,153		28		14,195
Amortization of net unrealized losses on AFS securities transferred to HTM	2,979		—		—		2,979

Balance at June 30, 2023	$	(311,816)	$	(60,029)	$	(7,441)	$	(379,286)