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Accumulated Other Comprehensive (Loss), Net of Tax | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Accumulated Other Comprehensive (Loss), Net of Tax | Accumulated Other Comprehensive (Loss), Net of Tax The following table summarizes the changes in each component of accumulated other comprehensive (loss) income, net of the related tax impact:
(In thousands) | Investment Securities Available- for-Sale | Derivative Financial Instruments | Defined Benefit Pension and Other Postretirement Benefit Plans | Total
Balance at December 31, 2021 | $ | 4,536 |  | $ | 6,070 |  | $ | (33,186) |  | $ | (22,580) |
Other comprehensive (loss) before reclassifications | (640,656) |  | (17,810) |  | (13,350) |  | (671,816) |
Amounts reclassified from accumulated other comprehensive income (loss) | 4,960 |  | 2,866 |  | 1,610 |  | 9,436 |
Other comprehensive (loss), net of tax | (635,696) |  | (14,944) |  | (11,740) |  | (662,380) |
Balance at December 31, 2022 | (631,160) |  | (8,874) |  | (44,926) |  | (684,960) |
Other comprehensive income before reclassifications | 86,391 |  | 4,066 |  | 11,794 |  | 102,251 |
Amounts reclassified from accumulated other comprehensive (loss) | 27,319 |  | 1,939 |  | 2,880 |  | 32,138 |
Other comprehensive income, net of tax | 113,710 |  | 6,005 |  | 14,674 |  | 134,389 |
Balance at December 31, 2023 | (517,450) |  | (2,869) |  | (30,252) |  | (550,571) |
Other comprehensive (loss) income before reclassifications | (104,628) |  | (7,223) |  | 2,397 |  | (109,454) |
Amounts reclassified from accumulated other comprehensive (loss) | 101,760 |  | 492 |  | 1,390 |  | 103,642 |
Other comprehensive (loss) income, net of tax | (2,868) |  | (6,731) |  | 3,787 |  | (5,812) |
Balance at December 31, 2024 | $ | (520,318) |  | $ | (9,600) |  | $ | (26,465) |  | $ | (556,383) |
The following table further summarizes the amounts reclassified from accumulated other comprehensive (loss) income:
| Years ended December 31, |
Accumulated Other Comprehensive (Loss) Income Components | 2024 |  | 2023 |  | 2022 | Associated Line Item in the Consolidated Statements Of Income
(In thousands) |  |  |  |  |  |
Investment securities available-for-sale: |  |  |  |  |  |
Net unrealized (losses) | $ | (138,794) |  |  | $ | (37,356) |  |  | $ | (6,751) |  | (Loss) on sale of investment securities (1)
Tax benefit | 37,034 |  |  | 10,037 |  |  | 1,791 |  | Income tax expense
Net of tax | $ | (101,760) |  |  | $ | (27,319) |  |  | $ | (4,960) |  |
Derivative financial instruments: |  |  |  |  |  |
Hedge terminations | $ | (34) |  |  | $ | (310) |  |  | $ | (306) |  | Interest expense
Premium amortization | (533) |  |  | (2,349) |  |  | (3,626) |  | Interest income
Tax benefit | 75 |  |  | 720 |  |  | 1,066 |  | Income tax expense
Net of tax | $ | (492) |  |  | $ | (1,939) |  |  | $ | (2,866) |  |
Defined benefit pension and other postretirement benefit plans: |  |  |  |  |  |
Actuarial net loss amortization | $ | (1,907) |  |  | $ | (2,083) |  |  | $ | (2,210) |  | Other expense
Other | — |  |  | (1,869) |  |  | — |  | Other expense
Tax benefit | 517 |  |  | 1,072 |  |  | 600 |  | Income tax expense
Net of tax | $ | (1,390) |  |  | $ | (2,880) |  |  | $ | (1,610) |  |
(1)Losses realized on sale of investment securities available-for-sale are generally included as a component of non-interest income on the accompanying Consolidated Statements of Income unless any portion or all of the loss is due to credit related factors, in which the amount is then included in the Provision for credit losses. During the years ended December 31, 2024, and 2023, $2.6 million and $3.8 million, respectively, of the total losses realized on sale of investment securities available-for-sale were included in the Provision for credit losses. There were no losses realized on sale of investment securities available-for-sale included in the Provision for credit losses for the year ended December 31, 2022. The following tables summarize each component of other comprehensive (loss) income and the related tax effects:
| Year ended December 31, 2024
(In thousands) | Amount Before Tax | Tax Benefit (Expense) | Amount Net of Tax
Investment securities available-for-sale: |  |  |
Net unrealized (losses) arising during the year | $ | (143,049) |  | $ | 38,421 |  | $ | (104,628) |
Reclassification adjustment for net realized losses included in net income | 138,794 |  | (37,034) |  | 101,760 |
Total investment securities available-for-sale | (4,255) |  | 1,387 |  | (2,868) |
Derivative financial instruments: |  |  |
Net unrealized (losses) arising during the year | (9,911) |  | 2,688 |  | (7,223) |
Reclassification adjustment for net realized losses included in net income | 567 |  | (75) |  | 492 |
Total derivative financial instruments | (9,344) |  | 2,613 |  | (6,731) |
Defined benefit pension and other postretirement benefit plans: |  |  |
Net actuarial gain arising during the year | 3,290 |  | (893) |  | 2,397 |
Reclassification adjustment for actuarial net loss amortization included in net income | 1,907 |  | (517) |  | 1,390 |
Total defined benefit pension and other postretirement benefit plans | 5,197 |  | (1,410) |  | 3,787 |
Other comprehensive (loss), net of tax | $ | (8,402) |  | $ | 2,590 |  | $ | (5,812) |
| Year ended December 31, 2023
(In thousands) | Amount Before Tax | Tax Benefit (Expense) | Amount Net of Tax
Investment securities available-for-sale: |  |  |
Net unrealized gains arising during the year | $ | 118,410 |  | $ | (32,019) |  | $ | 86,391 |
Reclassification adjustment for net realized losses included in net income | 37,356 |  | (10,037) |  | 27,319 |
Total investment securities available-for-sale | 155,766 |  | (42,056) |  | 113,710 |
Derivative financial instruments: |  |  |
Net unrealized gains arising during the year | 5,578 |  | (1,512) |  | 4,066 |
Reclassification adjustment for net realized losses included in net income | 2,659 |  | (720) |  | 1,939 |
Total derivative financial instruments | 8,237 |  | (2,232) |  | 6,005 |
Defined benefit pension and other postretirement benefit plans: |  |  |
Net actuarial gain arising during the year | 16,183 |  | (4,389) |  | 11,794 |
Reclassification adjustment for actuarial net loss amortization and other included in net income | 3,952 |  | (1,072) |  | 2,880 |
Total defined benefit pension and other postretirement benefit plans | 20,135 |  | (5,461) |  | 14,674 |
Other comprehensive income, net of tax | $ | 184,138 |  | $ | (49,749) |  | $ | 134,389 |
| Year ended December 31, 2022
(In thousands) | Amount Before Tax | Tax Benefit (Expense) | Amount Net of Tax
Investment securities available-for-sale: |  |  |
Net unrealized (losses) arising during the year | $ | (878,366) |  | $ | 237,710 |  | $ | (640,656) |
Reclassification adjustment for net realized losses included in net income | 6,751 |  | (1,791) |  | 4,960 |
Total investment securities available-for-sale | (871,615) |  | 235,919 |  | (635,696) |
Derivative financial instruments: |  |  |
Net unrealized (losses) arising during the year | (24,440) |  | 6,630 |  | (17,810) |
Reclassification adjustment for net realized losses included in net income | 3,932 |  | (1,066) |  | 2,866 |
Total derivative financial instruments | (20,508) |  | 5,564 |  | (14,944) |
Defined benefit pension and other postretirement benefit plans: |  |  |
Net actuarial (loss) arising during the year | (18,319) |  | 4,969 |  | (13,350) |
Reclassification adjustment for net actuarial loss amortization included in net income | 2,210 |  | (600) |  | 1,610 |
Total defined benefit pension and other postretirement benefit plans | (16,109) |  | 4,369 |  | (11,740) |
Other comprehensive (loss), net of tax | $ | (908,232) |  | $ | 245,852 |  | $ | (662,380) |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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