CHANGE IN ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (loss)

Changes to accumulated other comprehensive (loss) income 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 (1)		Net change in equity method investments		Total
Balance, June 30, 2022	$	(395,213)	$	(119,649)	$	(4,746)	$	189	$	541	$	(518,878)
Other comprehensive (loss) income	(202,520)		(1)		(4)		—		25		(202,500)
Less: Amounts reclassified from accumulated other comprehensive (loss) income	—		5,967		(27)		(41)		—		5,899
Net current-period other comprehensive (loss) income	(202,520)		5,966		(31)		(41)		25		(196,601)
Balance, September 30, 2022	$	(597,733)	$	(113,683)	$	(4,777)	$	148	$	566	$	(715,479)
Balance, June 30, 2021	$	14,147	$	232	$	(4,828)	$	423	$	264	$	10,238
Other comprehensive income (loss)	(25,639)		(1)		(8)		—		82		(25,566)
Less: Amounts reclassified from accumulated other comprehensive income (loss)	(2)		(28)		(15)		(113)		—		(158)
Net current-period other comprehensive income (loss)	(25,641)		(29)		(23)		(113)		82		(25,724)
Balance, September 30, 2021	$	(11,494)	$	203	$	(4,851)	$	310	$	346	$	(15,486)
(1)Cash flow hedges were terminated as of April 1, 2020
(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, 2021	$	(33,873)	$	175	$	(4,691)	$	268	$	353	$	(37,768)
Other comprehensive (loss) income(2)	(563,860)		(119,769)		(4)		—		213		(683,420)
Less: Amounts reclassified from accumulated other comprehensive (loss) income	—		5,911		(82)		(120)		—		5,709
Net current-period other comprehensive (loss) income	(563,860)		(113,858)		(86)		(120)		213		(677,711)
Balance, September 30, 2022	$	(597,733)	$	(113,683)	$	(4,777)	$	148	$	566	$	(715,479)
Balance, December 31, 2020	$	59,882	$	276	$	(4,788)	$	646	$	(9)	$	56,007
Other comprehensive income (loss)	(71,124)		1		(17)		—		355		(70,785)
Less: Amounts reclassified from accumulated other comprehensive (loss) income	(252)		(74)		(46)		(336)		—		(708)
Net current-period other comprehensive (loss) income	(71,376)		(73)		(63)		(336)		355		(71,493)
Balance, September 30, 2021	$	(11,494)	$	203	$	(4,851)	$	310	$	346	$	(15,486)
(1)Cash flow hedges were terminated as of April 1, 2020
(2)Includes $119.8 million, net of tax, of unrealized losses on transferred investment securities from available-for-sale to held-to-maturity.

Components of Other Comprehensive Income

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

	Three Months Ended September 30,				Affected line item in unaudited Consolidated Statements of Income
(Dollars in thousands)	2022		2021
Securities available for sale:
Realized gains on securities transactions	$	—	$	(2)	Securities gains, net
Income taxes	—		—		Income tax provision
Net of tax	—		(2)
Net unrealized holding losses (gains) on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized losses (gains) to income during the period	7,851		(37)		Net interest income
Income taxes	(1,884)		9		Income tax provision
Net of tax	5,967		(28)
Amortization of defined benefit pension plan-related items:
Prior service credits	(19)		(22)
Actuarial (gains) losses	(17)		2
Total before tax	(36)		(20)		Salaries, benefits and other compensation
Income taxes	9		5		Income tax provision
Net of tax	(27)		(15)
Net unrealized gains on terminated cash flow hedges:
Amortization of net unrealized gains to income during the period	(54)		(149)		Interest and fees on loans and leases
Income taxes	13		36		Income tax provision
Net of tax	(41)		(113)
Total reclassifications	$	5,899	$	(158)
	Nine Months Ended September 30,				Affected line item in unaudited Consolidated Statements of Operations
	2022		2021
Securities available-for-sale:
Realized gains on securities transactions	$	—	$	(331)	Securities gains, net
Income taxes	—		79		Income tax provision
Net of tax	—		(252)
Net unrealized holding losses (gains) on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized losses (gains) to income during the period	7,777		(97)		Net interest income
Income taxes	(1,866)		23		Income tax provision
Net of tax	5,911		(74)
Amortization of defined benefit pension plan-related items:
Prior service credits	(57)		(66)
Actuarial losses (gains)	(51)		5
Total before tax	(108)		(61)		Salaries, benefits and other compensation
Income taxes	26		15		Income tax provision
Net of tax	(82)		(46)
Net unrealized gains on terminated cash flow hedges:
Amortization of net unrealized gains to income during the period	(158)		(442)		Interest and fees on loans and leases
Income taxes	38		106		Income tax provision
Net of tax	(120)		(336)
Total reclassifications	$	5,709	$	(708)