Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2022

Accumulated Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table shows changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2022, 2021 and 2020:

	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)
Year Ended December 31, 2022	(in thousands)
Beginning balance	$	23,134	$	(4,812)	$	16,840	$	35,162
Other comprehensive income (loss) before reclassifications	(536,262)		4,533		—		(531,729)
Amounts reclassified from accumulated other comprehensive income (2)	(6,067)		402		(8,263)		(13,928)
Net current-period other comprehensive income (loss)	(542,329)		4,935		(8,263)		(545,657)
Ending balance	$	(519,195)	$	123	$	8,577	$	(510,495)
Year Ended December 31, 2021
Beginning balance	$	163,174	$	(5,833)	$	24,854	$	182,195
Other comprehensive income (loss) before reclassifications	(137,482)		562		—		(136,920)
Amounts reclassified from accumulated other comprehensive income (2)	(2,558)		459		(8,014)		(10,113)
Net current-period other comprehensive income (loss)	(140,040)		1,021		(8,014)		(147,033)
Ending balance	$	23,134	$	(4,812)	$	16,840	$	35,162
Year Ended December 31, 2020
Beginning balance	$	33,038	$	(3,974)	$	11,303	$	40,367
Other comprehensive income (loss) before reclassifications	130,355		(2,177)		20,012		148,190
Amounts reclassified from accumulated other comprehensive income (2)	(219)		318		(6,461)		(6,362)
Net current-period other comprehensive income (loss)	130,136		(1,859)		13,551		141,828
Ending balance	$	163,174	$	(5,833)	$	24,854	$	182,195

__________

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

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

Reclassification out of Accumulated Other Comprehensive Income

The following table shows details regarding the reclassifications from accumulated other comprehensive income for the years ended December 31, 2022, 2021 and 2020:

	Amount Reclassified from Accumulated Other Comprehensive Income						Affected line Item in the Consolidated Statement of Income
	Years Ended December 31,
	2022		2021		2020
	(in thousands)
Unrealized gains (losses) on available for sale debt securities	$	(9)	$	315	$	285	Investment securities gains (losses), net
Amortization of unrealized gains related to securities transfer	7,814		3,018		—		Taxable securities
	7,805		3,333		285		Total before tax
	(1,738)		(775)		(66)		Income tax provision
	$	6,067	$	2,558	$	219	Net of tax
Amortization of pension plan liability actuarial losses	$	(524)	$	(598)	$	(414)	Compensation and employee benefits
	(524)		(598)		(414)		Total before tax
	122		139		96		Income tax provision
	$	(402)	$	(459)	$	(318)	Net of tax
Unrealized gains from hedging instruments	$	10,441	$	10,441	$	8,418	Loans
	10,441		10,441		8,418		Total before tax
	(2,178)		(2,427)		(1,957)		Income tax provision
	$	8,263	$	8,014	$	6,461	Net of tax