OTHER COMPREHENSIVE LOSS

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

OTHER COMPREHENSIVE LOSS

OTHER COMPREHENSIVE INCOME (LOSS)

The following tables present a reconciliation of the changes in the components of other comprehensive income (loss) for the periods indicated, including the amount of income tax (expense) benefit allocated to each component of other comprehensive income (loss):

	Year Ended December 31, 2024
	Pre-Tax Amount		Tax (Expense) Benefit		After Tax Amount
	(Dollars in thousands)
Change in fair value of securities available for sale	$	22,586	$	(5,843)	$	16,743
Less: net security losses reclassified into other noninterest expense	—		—		—
Net change in fair value of securities available for sale	22,586		(5,843)		16,743
Change in fair value of cash flow hedges	(10,133)		2,770		(7,363)
Less: net cash flow hedge losses reclassified into interest income or interest expense	(19,372)		5,296		(14,076)
Net change in fair value of cash flow hedges	9,239		(2,526)		6,713
Net unamortized gain related to defined benefit pension and other postretirement adjustments arising during the period	1,953		(534)		1,419
Amortization of net actuarial gains	(93)		26		(67)
Amortization of net prior service costs	17		(5)		12
Net change in other comprehensive income for defined benefit postretirement plans (1)	1,877		(513)		1,364
Total other comprehensive income	$	33,702	$	(8,882)	$	24,820
	Year Ended December 31, 2023
	Pre-Tax Amount		Tax (Expense) Benefit		After Tax Amount
	(Dollars in thousands)
Change in fair value of securities available for sale	$	42,019	$	(9,593)	$	32,426
Less: net security losses reclassified into other noninterest expense	—		—		—
Net change in fair value of securities available for sale	42,019		(9,593)		32,426
Change in fair value of cash flow hedges	(5,078)		1,428		(3,650)
Less: net cash flow hedge losses reclassified into interest income or interest expense	(27,414)		7,709		(19,705)
Net change in fair value of cash flow hedges	22,336		(6,281)		16,055
Net unamortized gain related to defined benefit pension and other postretirement adjustments arising during the period	210		(59)		151
Amortization of net actuarial gains	(536)		151		(385)
Amortization of net prior service costs	39		(11)		28
Amortization of net settlement credits	(25)		7		(18)
Net change in other comprehensive income for defined benefit postretirement plans (1)	(312)		88		(224)
Total other comprehensive income	$	64,043	$	(15,786)	$	48,257

	Year Ended December 31, 2022
	Pre-Tax Amount		Tax (Expense) Benefit		After Tax Amount
	(Dollars in thousands)
Change in fair value of securities available for sale	$	(155,037)	$	36,047	$	(118,990)
Less: net security losses reclassified into other noninterest expense	—		—		—
Net change in fair value of securities available for sale	(155,037)		36,047		(118,990)
Change in fair value of cash flow hedges	(65,586)		18,452		(47,134)
Less: net cash flow hedge gains reclassified into interest income or interest expense	5,054		(1,421)		3,633
Net change in fair value of cash flow hedges	(70,640)		19,873		(50,767)
Net unamortized gain related to defined benefit pension and other postretirement adjustments arising during the period	5,603		(1,575)		4,028
Amortization of net actuarial losses	635		(179)		456
Amortization of net prior service costs	39		(11)		28
Amortization of net settlement credits	(31)		9		(22)
Net change in other comprehensive income for defined benefit postretirement plans (1)	6,246		(1,756)		4,490
Total other comprehensive loss	$	(219,431)	$	54,164	$	(165,267)

(1)The amortization of prior service costs is included in the computation of net periodic pension costs as disclosed in Note 12 - Employee Benefit Plans within the Notes to the Consolidated Financial Statements in Item 8.

Information on the Company’s accumulated other comprehensive income (loss), net of tax, is comprised of the following components as of the dates indicated:

	Unrealized Gain (Loss) on Securities		Unrealized Gain (Loss) on Cash Flow Hedge		Defined Benefit Postretirement Plans		Accumulated Other Comprehensive Income (Loss)
	(Dollars in Thousands)
Beginning balance: January 1, 2022	$	(9,667)	$	14,137	$	(2,287)	$	2,183
Other comprehensive (loss) income	(118,990)		(50,767)		4,490		(165,267)
Ending balance: December 31, 2022	$	(128,657)	$	(36,630)	$	2,203	$	(163,084)
Other comprehensive income (loss)	32,426		16,055		(224)		48,257
Ending balance: December 31, 2023	$	(96,231)	$	(20,575)	$	1,979	$	(114,827)
Other comprehensive income	16,743		6,713		1,364		24,820
Ending balance: December 31, 2024	$	(79,488)	$	(13,862)	$	3,343	$	(90,007)