CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS

6 Months Ended

Jun. 30, 2025

Equity [Abstract]

CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS

16. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss includes unrealized gains and losses on available-for-sale investments, unrealized gains and losses on cash flow hedges, as well as unrecognized prior service costs and actuarial gains and losses on defined benefit pension plans. Changes to accumulated other comprehensive loss are presented, net of tax, as a component of stockholders’ equity. Amounts that are reclassified out of accumulated other comprehensive loss are recorded on the unaudited Consolidated Statements of Income either as a gain or 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, 2025	$	(467,752)	$	(73,217)	$	(3,876)	$	(4,422)	$	(207)	$	(549,474)
Other comprehensive income (loss)	22,688		—		9		1,440		(16)		24,121
Less: Amounts reclassified from accumulated other comprehensive loss	—		3,267		(70)		—		—		3,197
Net current-period other comprehensive income (loss)	22,688		3,267		(61)		1,440		(16)		27,318
Balance, June 30, 2025	$	(445,064)	$	(69,950)	$	(3,937)	$	(2,982)	$	(223)	$	(522,156)
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)
(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, December 31, 2024	$	(537,789)	$	(76,405)	$	(3,815)	$	(7,297)	$	429	$	(624,877)
Other comprehensive income (loss)	92,725		—		17		4,315		(652)		96,405
Less: Amounts reclassified from accumulated other comprehensive loss	—		6,455		(139)		—		—		6,316
Net current-period other comprehensive income (loss)	92,725		6,455		(122)		4,315		(652)		102,721
Balance, June 30, 2025	$	(445,064)	$	(69,950)	$	(3,937)	$	(2,982)	$	(223)	$	(522,156)
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)

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

	Three Months Ended June 30,				Affected line item in unaudited Consolidated Statements of Income
(Dollars in thousands)	2025		2024
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	4,299		5,011		Net interest income
Income taxes	(1,032)		(1,203)		Income tax provision
Net of tax	3,267		3,808
Amortization of defined benefit pension plan-related items:
Prior service credits	(19)		(19)
Actuarial gains	(73)		(47)
Total before tax	(92)		(66)		Salaries, benefits and other compensation
Income taxes	22		16		Income tax provision
Net of tax	(70)		(50)
Total reclassifications	$	3,197	$	3,758
	Six Months Ended June 30,				Affected line item in unaudited Consolidated Statements of Income
	2025		2024
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	8,494		9,838		Net interest income
Income taxes	(2,039)		(2,361)		Income tax provision
Net of tax	6,455		7,477
Amortization of defined benefit pension plan-related items:
Prior service credits	(38)		(38)
Actuarial gains	(145)		(92)
Total before tax	(183)		(130)		Salaries, benefits and other compensation
Income taxes	44		31		Income tax provision
Net of tax	(139)		(99)
Total reclassifications	$	6,316	$	7,378