Accumulated Other Comprehensive (Loss) Income, Net of Tax

6 Months Ended

Jun. 30, 2023

The following tables summarize the changes in each component of accumulated other comprehensive (loss) income, net of tax:


	Three months ended June 30, 2023								Six months ended June 30, 2023
(In thousands)	Securities Available For Sale		Derivative Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total		Securities Available For Sale		Derivative Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total
Balance, beginning of period	$	(559,542)	$	12,500	$	(40,978)	$	(588,020)	$	(631,160)	$	(8,874)	$	(44,926)	$	(684,960)
Other comprehensive (loss) income before reclassifications	(85,072)		(48,123)		—		(133,195)		(28,437)		(27,341)		3,553		(52,225)
Amounts reclassified from accumulated other comprehensive (loss) income	35		600		1,757		2,392		15,018		1,192		2,152		18,362
Other comprehensive (loss) income, net of tax	(85,037)		(47,523)		1,757		(130,803)		(13,419)		(26,149)		5,705		(33,863)
Balance, end of period	$	(644,579)	$	(35,023)	$	(39,221)	$	(718,823)	$	(644,579)	$	(35,023)	$	(39,221)	$	(718,823)


	Three months ended June 30, 2022								Six months ended June 30, 2022
(In thousands)	Securities Available For Sale		Derivative Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total		Securities Available For Sale		Derivative Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total
Balance, beginning of period	$	(240,343)	$	(1,774)	$	(33,606)	$	(275,723)	$	4,536	$	6,070	$	(33,186)	$	(22,580)
Other comprehensive (loss) before reclassifications	(205,273)		(1,070)		(328)		(206,671)		(450,152)		(9,683)		(1,047)		(460,882)
Amounts reclassified from accumulated other comprehensive (loss) income	—		762		300		1,062		—		1,531		599		2,130
Other comprehensive (loss), net of tax	(205,273)		(308)		(28)		(205,609)		(450,152)		(8,152)		(448)		(458,752)
Balance, end of period	$	(445,616)	$	(2,082)	$	(33,634)	$	(481,332)	$	(445,616)	$	(2,082)	$	(33,634)	$	(481,332)

The following table further summarizes the amounts reclassified from accumulated other comprehensive (loss) income:


Accumulated Other Comprehensive (Loss) Income Components	Three months ended				Six months ended				Associated Line Item on the Condensed Consolidated Statements of Income
	June 30,				June 30,
	2023		2022		2023		2022
(In thousands)
Investment securities available-for-sale:
Net holding (losses)	$	(48)	$	—	$	(20,531)	$	—	(Loss) on sale of investment securities


Tax benefit	13		—		5,513		—		Income tax expense
Net of tax	$	(35)	$	—	$	(15,018)	$	—
Derivative instruments:
Hedge terminations	$	(99)	$	(76)	$	(175)	$	(153)	Interest expense
Premium amortization	(724)		(969)		(1,460)		(1,947)		Interest income
Tax benefit	223		283		443		569		Income tax expense
Net of tax	$	(600)	$	(762)	$	(1,192)	$	(1,531)
Defined benefit pension and other postretirement benefit plans:
Actuarial net loss amortization	$	(2,410)	$	(411)	$	(2,952)	$	(822)	Other expense
Tax benefit	653		111		800		223		Income tax expense
Net of tax	$	(1,757)	$	(300)	$	(2,152)	$	(599)