ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2022

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

3. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Activity in accumulated other comprehensive income (loss), net of tax, was as follows:

							Total
							Accumulated
	Securities		Defined				Other
	Available-		Benefit				Comprehensive
	for-Sale		Plans		Derivatives		Loss
Balance as of January 1, 2021	$	12,694	$	(6,086)	$	(12,532)	$	(5,924)
Other comprehensive (loss) income before reclassifications		(19,733)		5,520		14,883		670
Amounts reclassified from accumulated other comprehensive loss		(825)		(740)		638		(927)
Net other comprehensive (loss) income during the period		(20,558)		4,780		15,521		(257)
Balance as of December 31, 2021	$	(7,864)	$	(1,306)	$	2,989	$	(6,181)
Other comprehensive (loss) income before reclassifications		(95,030)		(1,413)		9,879		(86,564)
Amounts reclassified from accumulated other comprehensive loss		2,024		(2,547)		(1,111)		(1,634)
Net other comprehensive (loss) income during the period		(93,006)		(3,960)		8,768		(88,198)
Balance as of December 31, 2022	$	(100,870)	$	(5,266)	$	11,757	$	(94,379)

The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below for the periods indicated.

	Year Ended December 31,
(In thousands)	2022		2021		2020
Change in unrealized gain (loss) on securities:
Change in net unrealized gain (loss) during the period	$	(138,630)	$	(28,865)	$	16,432
Reclassification adjustment for net gains included in net gain on sale of securities and other assets		—		(1,207)		(4,592)
Accretion of net unrealized loss on securities transferred to held-to-maturity		2,953		—		—
Net change		(135,677)		(30,072)		11,840
Tax benefit		(42,671)		(9,514)		3,767
Net change in unrealized gain (loss) on securities, net of reclassification adjustments and tax		(93,006)		(20,558)		8,073
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense		(3,715)		(1,092)		(1,272)
Reclassification adjustment for curtailment loss		—		1,543		(1,651)
Change in the net actuarial gain		(2,062)		6,563		2,817
Net change		(5,777)		7,014		(106)
Tax expense		(1,817)		2,234		(44)
Net change in pension and other postretirement obligations		(3,960)		4,780		(62)
Change in unrealized gain (loss) on derivatives:
Change in net unrealized gain (loss) during the period		14,412		5,277		(24,449)
Reclassification adjustment for loss included in loss on termination of derivatives		—		16,505		6,596
Reclassification adjustment for expense included in interest expense		(1,621)		940		6,127
Net change		12,791		22,722		(11,726)
Tax expense		4,023		7,201		(3,731)
Net change in unrealized gain (loss) on derivatives, net of reclassification adjustments and tax		8,768		15,521		(7,995)
Other comprehensive (loss) income, net of tax	$	(88,198)	$	(257)	$	16