Three Months Ended March 31, 2024

Three Months Ended March 31, 2023

Pre-tax

Tax expense/ (benefit)

Net-of-tax

Pre-tax

Tax expense/ (benefit)

Net-of-tax

(In thousands)

Beginning balance, gain/(loss), net of tax

Securities AFS

$

(86,190

)

$

(104,832

)

Cash flow hedge derivatives

774

2,537

Total

$

(85,416

)

$

(102,295

)

Net unrealized gains/(losses) arising during the period

Securities AFS

$

(8,010

)

$

(2,368

)

$

(5,642

)

$

13,552

$

4,006

$

9,546

Cash flow hedge derivatives

(626

)

(185

)

(441

)

(626

)

(185

)

(441

)

Total

$

(8,636

)

$

(2,553

)

$

(6,083

)

$

12,926

$

3,821

$

9,105

Reclassification adjustment for net losses in net income

Securities AFS

$

(1,107

)

$

(327

)

$

(780

)

$

3,000

$

887

$

2,113

Cash flow hedge derivatives

—

Total

(1,107

)

(327

)

(780

)

3,000

887

2,113

Total other comprehensive income/(loss)

Securities AFS

$

(9,117

)

$

(2,695

)

$

(6,422

)

$

16,552

$

4,893

$

11,659

Cash flow hedge derivatives

(626

)

(185

)

(441

)

(626

)

(185

)

(441

)

Total

$

(9,743

)

$

(2,880

)

$

(6,863

)

$

15,926

$

4,708

$

11,218

Ending balance, gain/(loss), net of tax

Securities AFS

$

(92,612

)

$

(93,173

)

Cash flow hedge derivatives

333

2,096

Total

$

(92,279

)

$

(91,077

)