Accumulated Other Comprehensive (Loss), Net of Tax

3 Months Ended

Mar. 31, 2025

Accumulated Other Comprehensive (Loss), Net of Tax

The following tables summarize the change in each component of accumulated other comprehensive (loss), net of the related tax impact:


	Three months ended March 31, 2025
(In thousands)	Investment Securities Available- for-Sale		Derivative Financial Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total
Balance, beginning of period	$	(520,318)	$	(9,600)	$	(26,465)	$	(556,383)
Other comprehensive income before reclassifications	96,966		7,752		—		104,718
Amounts reclassified from accumulated other comprehensive (loss)	(385)		2,372		277		2,264
Other comprehensive income, net of tax	96,581		10,124		277		106,982
Balance, end of period	$	(423,737)	$	524	$	(26,188)	$	(449,401)


	Three months ended March 31, 2024
(In thousands)	Investment Securities Available- for-Sale		Derivative Financial Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total
Balance, beginning of period	$	(517,450)	$	(2,869)	$	(30,252)	$	(550,571)
Other comprehensive (loss) income before reclassifications	(42,591)		(37,937)		251		(80,277)
Amounts reclassified from accumulated other comprehensive (loss)	6,320		7,948		479		14,747
Other comprehensive (loss) income, net of tax	(36,271)		(29,989)		730		(65,530)
Balance, end of period	$	(553,721)	$	(32,858)	$	(29,522)	$	(616,101)

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


Accumulated Other Comprehensive (Loss) Components	Three months ended				Associated Line Item on the Condensed Consolidated Statements of Income
	March 31,
	2025		2024
(In thousands)
Investment securities available-for-sale:
Net unrealized gains (losses) (1)	$	528	$	(8,688)		Non-interest income (2)


Tax benefit	(143)		2,368			Income tax expense
Net of tax	$	385	$	(6,320)
Derivative financial instruments:
Interest payments (3)	$	(3,255)	$	(10,492)		Interest and fees on loans and leases
Hedge terminations	—		(34)			Long-term debt interest expense
Premium amortization	—		(272)			Interest and fees on loans and leases
Tax benefit	883		2,850			Income tax expense
Net of tax	$	(2,372)	$	(7,948)
Defined benefit pension and other postretirement benefit plans:
Actuarial net loss amortization	$	(380)	$	(657)		Other expense

Tax benefit	103		178			Income tax expense
Net of tax	$	(277)	$	(479)

(1)Reclassification adjustments for net unrealized gains (losses) on investment securities available-for-sale that were sold during the reporting period are determined by reference to the unrealized gain or loss reported in the previous reporting period.

(2)Gains and losses realized on sale of investment securities available-for-sale are generally included as a component of non-interest income on the accompanying Condensed Consolidated Statements of Income unless any portion or all of the loss is due to credit related factors, in which the amount is then included in the Provision for credit losses. Additional information regarding the presentation of gains and losses realized on sale of investment securities available-for-sale for the three months ended March 31, 2025, and 2024, can be found within Note 3: Investment Securities.

(3)Over the next twelve months, an estimated $1.3 million related to cash flow hedge gain or loss will be reclassified from AOCL, decreasing Interest and fees on loans and leases as hedge interest payments are made.