Accumulated Other Comprehensive (Loss), Net of Tax

6 Months Ended

Jun. 30, 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 June 30, 2025								Six months ended June 30, 2025
(In thousands)	Investment Securities Available- for-Sale		Derivative Financial Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total		Investment Securities Available-for-Sale		Derivative Financial Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total
Balance, beginning of period	$	(423,737)	$	524	$	(26,188)	$	(449,401)	$	(520,318)	$	(9,600)	$	(26,465)	$	(556,383)
Other comprehensive income before reclassifications	8,858		44		—		8,902		105,824		7,796		—		113,620
Amounts reclassified from accumulated other comprehensive (loss) income	—		1,960		277		2,237		(385)		4,332		554		4,501
Other comprehensive income, net of tax	8,858		2,004		277		11,139		105,439		12,128		554		118,121
Balance, end of period	$	(414,879)	$	2,528	$	(25,911)	$	(438,262)	$	(414,879)	$	2,528	$	(25,911)	$	(438,262)


	Three months ended June 30, 2024								Six months ended June 30, 2024
(In thousands)	Investment Securities Available- for-Sale		Derivative Financial Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total		Investment Securities Available-for-Sale		Derivative Financial Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total
Balance, beginning of period	$	(553,721)	$	(32,858)	$	(29,522)	$	(616,101)	$	(517,450)	$	(2,869)	$	(30,252)	$	(550,571)
Other comprehensive (loss) before reclassifications	(43,970)		(10,243)		(858)		(55,071)		(86,560)		(48,181)		(607)		(135,348)
Amounts reclassified from accumulated other comprehensive (loss)	34,161		8,633		479		43,273		40,480		16,582		958		58,020
Other comprehensive (loss) income, net of tax	(9,809)		(1,610)		(379)		(11,798)		(46,080)		(31,599)		351		(77,328)
Balance, end of period	$	(563,530)	$	(34,468)	$	(29,901)	$	(627,899)	$	(563,530)	$	(34,468)	$	(29,901)	$	(627,899)

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


Accumulated Other Comprehensive (Loss) Components	Three months ended				Six months ended				Associated Line Item on the Condensed Consolidated Statements of Income
	June 30,				June 30,
	2025		2024		2025		2024
(In thousands)
Investment securities available-for-sale:
Net unrealized gains (losses) (1)	$	—	$	(46,496)	$	528	$	(55,183)	Non-interest income (2)


Tax benefit	—		12,335		(143)		14,703		Income tax expense
Net of tax	$	—	$	(34,161)	$	385	$	(40,480)
Derivative financial instruments:
Interest payments (3)	$	(2,689)	$	(11,630)	$	(5,944)	$	(22,122)	Interest and fees on loans and leases
Hedge terminations	—		—		—		(34)		Long-term debt interest expense
Premium amortization	—		(217)		—		(489)		Interest and fees on loans and leases
Tax benefit	729		3,214		1,612		6,063		Income tax expense
Net of tax	$	(1,960)	$	(8,633)	$	(4,332)	$	(16,582)
Defined benefit pension and other postretirement benefit plans:
Actuarial net loss amortization	$	(380)	$	(658)	$	(760)	$	(1,315)	Other expense

Tax benefit	103		179		206		357		Income tax expense
Net of tax	$	(277)	$	(479)	$	(554)	$	(958)

(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 and six months ended June 30, 2025, and 2024, respectively, can be found within Note 3: Investment Securities.

(3)Over the next 12 months, an estimated $0.3 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.