Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

(In Thousands)

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

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Three months ended March 31, 2023
Securities available for sale:
Unrealized holding gains on securities	$	20,714	$	5,183	$	15,531
Amortization of unrealized holding losses on securities transferred to the held to maturity category	3,128		800		2,328
Total securities available for sale	23,842		5,983		17,859
Derivative instruments:
Unrealized holding losses on derivative instruments	(1,656)		(424)		(1,232)
Reclassification adjustment for gains realized in net income	—		—		—
Total derivative instruments	(1,656)		(424)		(1,232)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	116		30		86
Total defined benefit pension and post-retirement benefit plans	116		30		86
Total other comprehensive income	$	22,302	$	5,589	$	16,713
Three months ended March 31, 2022
Securities available for sale:
Unrealized holding losses on securities	$	(134,756)	$	(34,294)	$	(100,462)
Amortization of unrealized holding gains on securities transferred to the held to maturity category	(99)		(25)		(74)
Total securities available for sale	(134,855)		(34,319)		(100,536)
Derivative instruments:
Unrealized holding gains on derivative instruments	8,556		2,177		6,379
Total derivative instruments	8,556		2,177		6,379
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	42		11		31
Total defined benefit pension and post-retirement benefit plans	42		11		31
Total other comprehensive loss	$	(126,257)	$	(32,131)	$	(94,126)

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

	March 31, 2023		December 31, 2022
Unrealized losses on securities	$	(201,907)	$	(219,766)
Unrealized gains on derivative instruments	17,724		18,956
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(8,141)		(8,227)
Total accumulated other comprehensive loss	$	(192,324)	$	(209,037)