Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

(In Thousands)

Changes in the components of other comprehensive income, net of tax, were as follows for the periods presented:

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Three months ended June 30, 2022
Securities available for sale:
Unrealized holding losses on securities	$	(76,405)	$	(19,447)	$	(56,958)
Amortization of unrealized holding gains on securities transferred to the held to maturity category	(220)		(56)		(164)
Total securities available for sale	(76,625)		(19,503)		(57,122)
Derivative instruments:
Unrealized holding gains on derivative instruments	8,401		2,139		6,262
Total derivative instruments	8,401		2,139		6,262
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	41		10		31
Total defined benefit pension and post-retirement benefit plans	41		10		31
Total other comprehensive loss	$	(68,183)	$	(17,354)	$	(50,829)
Three months ended June 30, 2021
Securities available for sale:
Unrealized holding gains on securities	4,965		1,263		3,702
Total securities available for sale	4,965		1,263		3,702
Derivative instruments:
Unrealized holding losses on derivative instruments	(6,234)		(1,586)		(4,648)
Total derivative instruments	(6,234)		(1,586)		(4,648)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	76		19		57
Total defined benefit pension and post-retirement benefit plans	76		19		57
Total other comprehensive loss	$	(1,193)	$	(304)	$	(889)

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Six months ended June 30, 2022
Securities available for sale:
Unrealized holding losses on securities	$	(211,161)	$	(53,741)	$	(157,420)
Amortization of unrealized holding gains on securities transferred to the held to maturity category	(319)		(81)		(238)
Total securities available for sale	(211,480)		(53,822)		(157,658)
Derivative instruments:
Unrealized holding gains on derivative instruments	16,957		4,316		12,641
Total derivative instruments	16,957		4,316		12,641
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	83		21		62
Total defined benefit pension and post-retirement benefit plans	83		21		62
Total other comprehensive loss	$	(194,440)	$	(49,485)	$	(144,955)
Six months ended June 30, 2021
Securities available for sale:
Unrealized holding losses on securities	$	(15,079)	$	(3,838)	$	(11,241)
Reclassification adjustment for gains realized in net income	(1,357)		(345)		(1,012)
Total securities available for sale	(16,436)		(4,183)		(12,253)
Derivative instruments:
Unrealized holding gains on derivative instruments	8,500		2,164		6,336
Total derivative instruments	8,500		2,164		6,336
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	130		31		99
Total defined benefit pension and post-retirement benefit plans	130		31		99
Total other comprehensive loss	$	(7,806)	$	(1,988)	$	(5,818)

The accumulated balances for each component of other comprehensive income, net of tax, were as follows as of the dates presented:

	June 30, 2022		December 31, 2021
Unrealized losses on securities	$	(166,774)	$	(9,116)
Unrealized gains on derivative instruments	16,604		3,963
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(5,228)		(5,290)
Total accumulated other comprehensive loss	$	(155,398)	$	(10,443)