Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

A roll forward of the components of Accumulated Other Comprehensive Income (Loss) is presented in the table that follows:

	Available for Sale Securities			HTM Securities Transferred from AFS			Employee Benefit Plans			Cash Flow Hedges			Equity Method Investment			Total
(in thousands)
Balance, December 31, 2020	$	171,224		$	276		$	(125,573	)	$	39,511		$	(5,369	)	$	80,069
Net change in unrealized gain or loss		(96,045	)		—			—			252			438			(95,355	)
Reclassification of net income or loss realized and included in earnings		2,166			—			3,445			(12,991	)		4,468			(2,912	)
Valuation adjustments to pension plan attributable to VERIP and curtailment		—			—			59,606			—			—			59,606
Other valuation adjustments to employee benefit plans		—			—			(10,651	)		—			—			(10,651	)
Amortization of unrealized net gain on securities transferred to HTM		—			(101	)		—			—			—			(101	)
Income tax expense (benefit)		(21,095	)		(23	)		11,774			(2,862	)		—			(12,206	)
Balance, June 30, 2021	$	98,440		$	198		$	(84,947	)	$	29,634		$	(463	)	$	42,862
Balance, December 31, 2021	$	11,037		$	153		$	(80,946	)	$	16,284		$	(463	)	$	(53,935	)
Net change in unrealized gain or loss		(547,636	)		—			—			(47,287	)		468			(594,455	)
Reclassification of net income or loss realized and included in earnings		1,707			—			1,652			(12,767	)		—			(9,408	)
Valuation adjustments to employee benefit plans		—			—			(7,987	)		—			—			(7,987	)
Transfer of net unrealized loss from AFS to HTM securities portfolio		15,405			(15,405	)		—			—			—			—
Amortization of unrealized net gain or loss on securities transferred to HTM		—			527			—			—			—			527
Income tax benefit		(119,739	)		(3,358	)		(1,430	)		(13,554	)		—			(138,081	)
Balance, June 30, 2022	$	(399,748	)	$	(11,367	)	$	(85,851	)	$	(30,216	)	$	5		$	(527,177	)

Line Items in Consolidated Income Statements Affected by Amounts Reclassified from Accumulated Other Comprehensive Income

The following table shows the line items in the consolidated statements of income affected by amounts reclassified from AOCI.

	Six Months Ended
Amount reclassified from AOCI (a)	June 30,						Affected line item on
(in thousands)	2022			2021			the statement of income
Loss on sale of AFS securities	$	(1,707	)	$	(2,166	)	Noninterest income
Tax effect		385			487		Income taxes
Net of tax		(1,322	)		(1,679	)	Net income
Amortization of unrealized net gain (loss) on securities transferred to HTM		(527	)		101		Interest income
Tax effect		119			(23	)	Income taxes
Net of tax		(408	)		78		Net income
Amortization of defined benefit pension and post-retirement items		(1,652	)		(3,445	)	Other noninterest expense (b)
Tax effect		373			774		Income taxes
Net of tax		(1,279	)		(2,671	)	Net income
Reclassification of unrealized gain on cash flow hedges		6,977			12,991		Interest income
Tax effect		(1,575	)		(2,919	)	Income taxes
Net of tax		5,402			10,072		Net income
Amortization of gain on terminated cash flow hedges		5,790			—		Interest income
Tax effect		(1,307	)		—		Income taxes
Net of tax		4,483			—		Net income
Reclassification of unrealized loss on equity method investment		—			(4,468	)	Noninterest income
Tax effect		—			—		Income taxes
Net of tax		—			(4,468	)	Net income
Total reclassifications, net of tax	$	6,876		$	1,332		Net income

(a)Amounts in parentheses indicate reduction in net income

(b)These AOCI components are included in the computation of net periodic pension and post-retirement cost that is reported with other noninterest
expense (see Note 10 – Retirement Plans for additional details)