Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss

The following tables present the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three and nine months ended September 30, 2024 and 2023:

	Components of Accumulated Other Comprehensive Loss						Total Accumulated Other Comprehensive Loss
	Unrealized Gains and Losses on AFS Securities		Unrealized Gains and Losses on Derivatives		Defined Benefit Pension and Postretirement Benefit Plans
	(in thousands)
June 30, 2024	$	(131,299)	$	1,682	$	(32,996)	$	(162,613)
Other comprehensive income before reclassification	48,023		—		—		48,023
Amounts reclassified from other comprehensive income	1		(219)		36		(182)
Other comprehensive income (loss) , net	48,024		(219)		36		47,841
September 30, 2024	$	(83,275)	$	1,463	$	(32,960)	$	(114,772)
June 30, 2023	$	(128,699)	$	2,353	$	(38,401)	$	(164,747)
Other comprehensive loss before reclassification	(37,115)		—		—		(37,115)
Amounts reclassified from other comprehensive loss	5		(43)		8		(30)
Other comprehensive (loss) income, net	(37,110)		(43)		8		(37,145)
September 30, 2023	$	(165,809)	$	2,310	$	(38,393)	$	(201,892)

	Components of Accumulated Other Comprehensive Loss						Total Accumulated Other Comprehensive Loss
	Unrealized Gains and Losses on AFS Securities		Unrealized Gains and Losses on Derivatives		Defined Benefit Pension and Postretirement Benefit Plans
	(in thousands)
December 31, 2023	$	(115,502)	$	2,114	$	(33,068)	$	(146,456)
Other comprehensive income before reclassification	32,218		—		—		32,218
Amounts reclassified from other comprehensive income	9		(651)		108		(534)
Other comprehensive income (loss), net	32,227		(651)		108		31,684
September 30, 2024	$	(83,275)	$	1,463	$	(32,960)	$	(114,772)
December 31, 2022	$	(127,818)	$	2,233	$	(38,417)	$	(164,002)
Other comprehensive loss before reclassification	(37,996)		(775)		—		(38,771)
Amounts reclassified from other comprehensive loss	5		852		24		881
Other comprehensive (loss) income, net	(37,991)		77		24		(37,890)
September 30, 2023	$	(165,809)	$	2,310	$	(38,393)	$	(201,892)

Reclassification from Each Component of Accumulated Other Comprehensive Loss

The following table presents amounts reclassified from each component of accumulated other comprehensive loss on a gross and net of tax basis for the three and nine months ended September 30, 2024 and 2023:

	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended September 30,				Nine Months Ended September 30,
Components of Accumulated Other Comprehensive Loss	2024		2023		2024		2023		Income Statement Line Item
	(in thousands)
Unrealized losses on AFS securities before tax	$	(1)	$	(6)	$	(12)	$	(6)	Gains (losses) on securities transactions, net
Tax effect	—		1		3		1
Total net of tax	(1)		(5)		(9)		(5)
Unrealized gains (losses) on derivatives (cash flow hedges) before tax	302		63		899		(1,193)		Interest income
Tax effect	(83)		(20)		(248)		341
Total net of tax	219		43		651		(852)
Defined benefit pension and postretirement benefit plans:
Amortization of actuarial net loss	(50)		(11)		(149)		(33)		*
Tax effect	14		3		41		9
Total net of tax	(36)		(8)		(108)		(24)
Total reclassifications, net of tax	$	182	$	30	$	534	$	(881)

* Amortization of actuarial net loss is included in the computation of net periodic pension cost recognized within other non-interest expense.