ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2023

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
(In thousands)	for-Sale		Plans		Derivatives		Loss
Balance as of January 1, 2022	$	(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 income (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)
Other comprehensive income (loss) before reclassifications		7,498		(109)		(8,091)		(702)
Amounts reclassified from accumulated other comprehensive income (loss)		3,130		(1,055)		1,427		3,502
Net other comprehensive income (loss) during the period		10,628		(1,164)		(6,664)		2,800
Balance as of December 31, 2023	$	(90,242)	$	(6,430)	$	5,093	$	(91,579)

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)	2023		2022		2021
Change in unrealized gain (loss) on securities:
Change in net unrealized gain (loss) during the period	$	10,355	$	(138,630)	$	(28,865)
Reclassification adjustment for net losses (gains) included in net (loss) gain on sale of securities and other assets		1,447		—		(1,207)
Accretion of net unrealized loss on securities transferred to held-to-maturity		3,142		2,953		—
Net change		14,944		(135,677)		(30,072)
Tax expense (benefit)		4,316		(42,671)		(9,514)
Net change in unrealized gain (loss) on securities, net of reclassification adjustments and tax		10,628		(93,006)		(20,558)
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense		(1,547)		(3,715)		(1,092)
Reclassification adjustment for curtailment loss		—		—		1,543
Change in the net actuarial (loss) gain		(190)		(2,062)		6,563
Net change		(1,737)		(5,777)		7,014
Tax (benefit) expense		(573)		(1,817)		2,234
Net change in pension and other postretirement obligations		(1,164)		(3,960)		4,780
Change in unrealized gain (loss) on derivatives:
Change in net unrealized (loss) gain during the period		(11,782)		14,412		5,277
Reclassification adjustment for loss included in loss on termination of derivatives		—		—		16,505
Reclassification adjustment for expense included in interest expense		2,092		(1,621)		940
Net change		(9,690)		12,791		22,722
Tax expense (benefit)		(3,026)		4,023		7,201
Net change in unrealized gain (loss) on derivatives, net of reclassification adjustments and tax		(6,664)		8,768		15,521
Other comprehensive income (loss), net of tax	$	2,800	$	(88,198)	$	(257)