Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2022

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income (Loss)

The following table shows changes in accumulated other comprehensive income (loss) by component for the periods indicated:

	Unrealized Gains and Losses on Available for Sale Securities (1)		Unrealized Gains and Losses on Pension Plan Liability (1)		Unrealized Gains and Losses on Hedging Instruments (1)		Total (1)
Three Months Ended September 30, 2022	(in thousands)
Beginning balance	$	(392,870)	$	(4,611)	$	12,866	$	(384,615)
Other comprehensive loss before reclassifications	(170,224)		—		—		(170,224)
Amounts reclassified from accumulated other comprehensive loss (2)	(2,086)		100		(2,019)		(4,005)
Net current-period other comprehensive income (loss)	(172,310)		100		(2,019)		(174,229)
Ending balance	$	(565,180)	$	(4,511)	$	10,847	$	(558,844)
Three Months Ended September 30, 2021
Beginning balance	$	81,833	$	(5,603)	$	20,879	$	97,109
Other comprehensive loss before reclassifications	(22,022)		—		—		(22,022)
Amounts reclassified from accumulated other comprehensive income (2)	(465)		114		(2,019)		(2,370)
Net current-period other comprehensive income (loss)	(22,487)		114		(2,019)		(24,392)
Ending balance	$	59,346	$	(5,489)	$	18,860	$	72,717
Nine Months Ended September 30, 2022
Beginning balance	$	23,134	$	(4,812)	$	16,840	$	35,162
Other comprehensive loss before reclassifications	(583,072)		—		—		(583,072)
Amounts reclassified from accumulated other comprehensive income (2)	(5,242)		301		(5,993)		(10,934)
Net current-period other comprehensive income (loss)	(588,314)		301		(5,993)		(594,006)
Ending balance	$	(565,180)	$	(4,511)	$	10,847	$	(558,844)
Nine Months Ended September 30, 2021
Beginning balance	$	163,174	$	(5,833)	$	24,854	$	182,195
Other comprehensive loss before reclassifications	(102,777)		—		—		(102,777)
Amounts reclassified from accumulated other comprehensive income (2)	(1,051)		344		(5,994)		(6,701)
Net current-period other comprehensive income (loss)	(103,828)		344		(5,994)		(109,478)
Ending balance	$	59,346	$	(5,489)	$	18,860	$	72,717

__________

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See following table for details about these reclassifications.

The following table shows details regarding the reclassifications from accumulated other comprehensive income (loss) for the periods indicated:

	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
	Three Months Ended September 30,				Nine Months Ended September 30,				Affected line Item in the Consolidated
	2022		2021		2022		2021		Statement of Income
	(in thousands)
Unrealized gains on available for sale debt securities	$	—	$	—	$	—	$	314	Investment securities gains, net
Amortization of unrealized gains related to securities transfer	2,718		606		6,830		1,056		Taxable securities
	2,718		606		6,830		1,370		Total before tax
	(632)		(141)		(1,588)		(319)		Income tax provision
	$	2,086	$	465	$	5,242	$	1,051	Net of tax
Amortization of pension plan liability actuarial losses	$	(130)	$	(149)	$	(392)	$	(448)	Compensation and employee benefits
	(130)		(149)		(392)		(448)		Total before tax
	30		35		91		104		Income tax provision
	$	(100)	$	(114)	$	(301)	$	(344)	Net of tax
Unrealized gains from hedging instruments	$	2,631	$	2,631	$	7,809	$	7,809	Loans
	2,631		2,631		7,809		7,809		Total before tax
	(612)		(612)		(1,816)		(1,815)		Income tax provision
	$	2,019	$	2,019	$	5,993	$	5,994	Net of tax