CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Components of Accumulated Other Comprehensive Loss

Changes to accumulated other comprehensive loss by component are shown, net of taxes, in the following tables for the period indicated:


(Dollars in thousands)	Net change in investment securities available-for-sale		Net change in investment securities held-to-maturity		Net change in defined benefit plan		Net change in fair value of derivatives used for cash flow hedges		Net change in equity method investments		Total
Balance, March 31, 2024	$	(539,939)	$	(87,854)	$	(4,738)	$	(4,836)	$	460	$	(636,907)
Other comprehensive (loss) income	(9,100)		—		(2)		(587)		(40)		(9,729)
Less: Amounts reclassified from accumulated other comprehensive loss	—		3,808		(50)		—		—		3,758
Net current-period other comprehensive (loss) income	(9,100)		3,808		(52)		(587)		(40)		(5,971)
Balance, June 30, 2024	$	(549,039)	$	(84,046)	$	(4,790)	$	(5,423)	$	420	$	(642,878)

Balance, March 31, 2023	$	(510,523)	$	(104,338)	$	(4,517)	$	400	$	563	$	(618,415)
Other comprehensive (loss) income	(40,367)		—		(7)		(1,475)		(101)		(41,950)
Less: Amounts reclassified from accumulated other comprehensive loss	—		4,393		(47)		(40)		—		4,306
Net current-period other comprehensive (loss) income	(40,367)		4,393		(54)		(1,515)		(101)		(37,644)
Balance, June 30, 2023	$	(550,890)	$	(99,945)	$	(4,571)	$	(1,115)	$	462	$	(656,059)



(Dollars in thousands)	Net change in investment securities available-for-sale		Net change in investment securities held-to-maturity		Net change in defined benefit plan		Net change in fair value of derivatives used for cash flow hedges(1)		Net change in equity method investments		Total
Balance, December 31, 2023	$	(499,932)	$	(91,523)	$	(4,614)	$	1,597	$	481	$	(593,991)
Other comprehensive (loss) income	(49,107)		—		(77)		(7,020)		(61)		(56,265)
Less: Amounts reclassified from accumulated other comprehensive loss	—		7,477		(99)		—		—		7,378
Net current-period other comprehensive (loss) income	(49,107)		7,477		(176)		(7,020)		(61)		(48,887)
Balance, June 30, 2024	$	(549,039)	$	(84,046)	$	(4,790)	$	(5,423)	$	420	$	(642,878)

Balance, December 31, 2022	$	(563,533)	$	(108,503)	$	(4,482)	$	108	$	566	$	(675,844)
Other comprehensive income (loss)	12,643		—		5		(1,143)		(104)		11,401
Less: Amounts reclassified from accumulated other comprehensive loss	—		8,558		(94)		(80)		—		8,384
Net current-period other comprehensive income (loss)	12,643		8,558		(89)		(1,223)		(104)		19,785
Balance, June 30, 2023	$	(550,890)	$	(99,945)	$	(4,571)	$	(1,115)	$	462	$	(656,059)
(1)Includes amortization of net gain for cash flow hedges terminated as of April 1, 2020.

Schedule of Components of Other Comprehensive Loss

The unaudited Consolidated Statements of Income were impacted by components of other comprehensive loss as shown in the tables below:


	Three Months Ended June 30,				Affected line item in unaudited Consolidated Statements of Income
(Dollars in thousands)	2024		2023




Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized losses to income during the period	5,011		5,779		Net interest income
Income taxes	(1,203)		(1,386)		Income tax provision
Net of tax	3,808		4,393
Amortization of defined benefit pension plan-related items:
Prior service credits	(19)		(19)

Actuarial gains	(47)		(43)
Total before tax	(66)		(62)		Salaries, benefits and other compensation
Income taxes	16		15		Income tax provision
Net of tax	(50)		(47)




Net unrealized gains on terminated cash flow hedges:
Amortization of net unrealized gains to income during the period	—		(53)		Interest and fees on loans and leases
Income taxes	—		13		Income tax provision
Net of tax	—		(40)
Total reclassifications	$	3,758	$	4,306

	Six Months Ended June 30,				Affected line item in unaudited Consolidated Statements of Operations
	2024		2023




Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized losses to income during the period	9,838		11,260		Net interest income
Income taxes	(2,361)		(2,702)		Income tax provision
Net of tax	7,477		8,558
Amortization of defined benefit pension plan-related items:
Prior service credits	(38)		(38)

Actuarial gains	(92)		(86)
Total before tax	(130)		(124)		Salaries, benefits and other compensation
Income taxes	31		30		Income tax provision
Net of tax	(99)		(94)




Net unrealized gains on terminated cash flow hedges:
Amortization of net unrealized gains to income during the period	—		(105)		Interest and fees on loans and leases
Income taxes	—		25		Income tax provision
Net of tax	—		(80)
Total reclassifications	$	7,378	$	8,384