ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2023

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

3.ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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

							Total
							Accumulated
			Defined				Other
			Benefit				Comprehensive
(In thousands)	Securities		Plans		Derivatives		Income (Loss)
Balance as of January 1, 2023	$	(100,870)	$	(5,266)	$	11,757	$	(94,379)
Other comprehensive (loss) income before reclassifications		(15,338)		952		(229)		(14,615)
Amounts reclassified from accumulated other comprehensive loss		2,666		(781)		196		2,081
Net other comprehensive (loss) income during the period		(12,672)		171		(33)		(12,534)
Balance as of September 30, 2023	$	(113,542)	$	(5,095)	$	11,724	$	(106,913)
Balance as of January 1, 2022	$	(7,864)	$	(1,306)	$	2,989	$	(6,181)
Other comprehensive (loss) income before reclassifications		(96,565)		2,051		9,972		(84,542)
Amounts reclassified from accumulated other comprehensive loss		—		(1,923)		(390)		(2,313)
Net other comprehensive (loss) income during the period		(96,565)		128		9,582		(86,855)
Balance as of September 30, 2022	$	(104,429)	$	(1,178)	$	12,571	$	(93,036)

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

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2023		2022		2023		2022
Change in unrealized gain (loss) on securities:
Change in net unrealized loss during the period	$	(4,374)	$	(39,692)	$	(17,967)	$	(142,980)
Reclassification adjustment for net losses included in net loss on sale of securities and other assets		—		—		1,447		—
Accretion of net unrealized loss on securities transferred to held-to-maturity		788		1,112		2,341		2,111
Net change		(3,586)		(38,580)		(14,179)		(140,869)
Tax benefit		(1,062)		(12,133)		(1,507)		(44,304)
Net change in unrealized loss on securities, net of reclassification adjustments and tax		(2,524)		(26,447)		(12,672)		(96,565)
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense		(370)		(935)		(1,110)		(2,805)
Change in the net actuarial gain		518		997		1,553		2,992
Net change		148		62		443		187
Tax expense		185		20		272		59
Net change in pension and other postretirement obligations		(37)		42		171		128
Change in unrealized gain (loss) on derivatives:
Change in net unrealized (loss) gain during the period		(246)		5,387		(771)		14,548
Reclassification adjustment for expense included in interest expense		293		(546)		279		(569)
Net change		47		4,841		(492)		13,979
Tax expense (benefit)		14		1,522		(459)		4,397
Net change in unrealized gain (loss) on derivatives, net of reclassification adjustments and tax		33		3,319		(33)		9,582
Other comprehensive loss, net of tax	$	(2,528)	$	(23,086)	$	(12,534)	$	(86,855)