OTHER COMPREHENSIVE INCOME (LOSS) OTHER COMPREHENSIVE INCOME (LOSS)

3 Months Ended

Mar. 31, 2023

The following tables present a reconciliation of the changes in the components of other comprehensive income and loss for the periods indicated, including the amount of tax (expense) benefit allocated to each component:


	For the Three Months Ended
	March 31, 2023						March 31, 2022
(In thousands)	Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
Debt Securities:
Change in fair value	$	9,885	$	(2,125)	$	7,760	$	(92,753)	$	19,942	$	(72,811)
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM(1)	(1,699)		365		(1,334)		—		—		—

Net change in fair value	11,584		(2,490)		9,094		(92,753)		19,942		(72,811)
Cash Flow Hedges:
Change in fair value	(3,109)		668		(2,441)		3,635		(782)		2,853
Less: reclassified AOCI gain (loss) into interest expense(2)	926		(199)		727		(500)		108		(392)
Less: reclassified AOCI (loss) gain into interest income(3)	(717)		154		(563)		382		(82)		300
Net change in fair value	(3,318)		713		(2,605)		3,753		(808)		2,945
Postretirement Plans:



Amortization of settlement recognition of net loss and prior service credit(4)	(6)		1		(5)		232		(50)		182
Other comprehensive income (loss)	$	8,260	$	(1,776)	$	6,484	$	(88,768)	$	19,084	$	(69,684)

(1) Reclassified into taxable interest on investments and/or nontaxable interest on investments in the consolidated statements of income. Refer to Note 3 of the consolidated financial statements for further details.

(2) Reclassified into interest on deposits, borrowings and/or subordinated debentures on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details.

(3) Reclassified into interest and fees on loans on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details.

(4) Reclassified into other expenses on the consolidated statements of income. Refer to Note 13 of the consolidated financial statements for further details.

The following table presents the changes in each component of AOCI, after tax, for the periods indicated:


(In thousands)	Net Unrealized Gains (Losses) on Debt Securities(1)		Net Unrealized (Losses) Gains on Cash Flow Hedges(1)		Defined Benefit Postretirement Plans(1)		AOCI(1)

Balance at December 31, 2022	$	(131,539)	$	5,891	$	(307)	$	(125,955)
Other comprehensive income (loss) before reclassifications	7,760		(2,441)		—		5,319
Less: Amounts reclassified from AOCI	(1,334)		164		5		(1,165)
Other comprehensive income (loss)	9,094		(2,605)		(5)		6,484
Balance at March 31, 2023	$	(122,445)	$	3,286	$	(312)	$	(119,471)

Balance at December 31, 2021	$	(1,173)	$	(1,779)	$	(3,277)	$	(6,229)
Other comprehensive (loss) income before reclassifications	(72,811)		2,853		—		(69,958)
Less: Amounts reclassified from AOCI	—		(92)		(182)		(274)
Other comprehensive (loss) income	(72,811)		2,945		182		(69,684)
Balance at March 31, 2022	$	(73,984)	$	1,166	$	(3,095)	$	(75,913)

(1) All amounts are net of tax