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Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Schedule of AOCI | The following table summarizes the changes within each classification of AOCI, net of tax:
(dollars in thousands) | Unrealized Gains and Losses on Available- for-Sale Debt Securities |  | Unrealized Gains and Losses on Held-to- Maturity Securities |  | Gains and Losses on Hedges |  | Defined Benefit Pension Plans |  | Total
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | (699,318) |  |  | $ | (88,986) |  |  | $ | (3,104) |  |  | $ | — |  |  | $ | (791,408) |
Other comprehensive income (loss) before reclassifications | 162,861 |  |  | — |  |  | 17,537 |  |  | — |  |  | 180,398 |
Amounts reclassified from AOCI to income (1) | 57 |  |  | 3,537 |  |  | 3,660 |  |  | — |  |  | 7,254 |
Balance at end of period | $ | (536,400) |  |  | $ | (85,449) |  |  | $ | 18,093 |  |  | $ | — |  |  | $ | (603,756) |
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | (701,393) |  |  | $ | (103,144) |  |  | $ | (4,096) |  |  | $ | — |  |  | $ | (808,633) |
Other comprehensive income (loss) before reclassifications | (156,660) |  |  | — |  |  | (11,546) |  |  | — |  |  | (168,206) |
Amounts reclassified from AOCI to income (1) | 178 |  |  | 4,193 |  |  | 3,653 |  |  | — |  |  | 8,024 |
Balance at end of period | $ | (857,875) |  |  | $ | (98,951) |  |  | $ | (11,989) |  |  | $ | — |  |  | $ | (968,815) |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | (652,518) |  |  | $ | (95,472) |  |  | $ | 9,181 |  |  | $ | — |  |  | $ | (738,809) |
Other comprehensive income (loss) before reclassifications | 116,051 |  |  | — |  |  | (1,883) |  |  | — |  |  | 114,168 |
Amounts reclassified from AOCI to income (1) | 67 |  |  | 10,023 |  |  | 10,795 |  |  | — |  |  | 20,885 |
Balance at end of period | $ | (536,400) |  |  | $ | (85,449) |  |  | $ | 18,093 |  |  | $ | — |  |  | $ | (603,756) |
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | (642,346) |  |  | $ | (112,664) |  |  | $ | (31,549) |  |  | $ | 137 |  |  | $ | (786,422) |
Other comprehensive income (loss) before reclassifications | (219,562) |  |  | 1,325 |  |  | 34,279 |  |  | — |  |  | (183,958) |
Amounts reclassified from AOCI to income (1) | 4,033 |  |  | 12,388 |  |  | (14,719) |  |  | (137) |  |  | 1,565 |
Balance at end of period | $ | (857,875) |  |  | $ | (98,951) |  |  | $ | (11,989) |  |  | $ | — |  |  | $ | (968,815) |
(1)See table below for details about reclassifications to income.
Schedule of Reclassifications out of AOCI | The following table summarizes the amounts reclassified out of each component of AOCI for the three months ended September 30, 2024 and 2023:
| Three Months Ended September 30, |  |
(dollars in thousands) | 2024 |  | 2023 |  |
Details about AOCI Components | Amount Reclassified from AOCI |  | Affected Line Item in the Statement of Income
Unrealized gains and losses on available-for-sale securities | $ | (76) |  |  | $ | (241) |  |  | Debt securities gains (losses), net
| 19 |  |  | 63 |  |  | Income tax (expense) benefit
| $ | (57) |  |  | $ | (178) |  |  | Net income
Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | $ | (4,740) |  |  | $ | (5,623) |  |  | Interest income (expense)
| 1,203 |  |  | 1,430 |  |  | Income tax (expense) benefit
| $ | (3,537) |  |  | $ | (4,193) |  |  | Net income
Gains and losses on hedges Interest rate contracts | $ | (4,936) |  |  | $ | (4,927) |  |  | Interest income (expense)
| 1,276 |  |  | 1,274 |  |  | Income tax (expense) benefit
| $ | (3,660) |  |  | $ | (3,653) |  |  | Net income
Total reclassifications for the period | $ | (7,254) |  |  | $ | (8,024) |  |  | Net income
The following table summarizes the amounts reclassified out of each component of AOCI for the nine months ended September 30, 2024 and 2023:
| Nine Months Ended September 30, |  |
(dollars in thousands) | 2024 |  | 2023 |  |
Details about AOCI Components | Amount Reclassified from AOCI |  | Affected Line Item in the Statement of Income
Unrealized gains and losses on available-for-sale securities | $ | (90) |  |  | $ | (5,440) |  |  | Debt securities gains (losses), net
| 23 |  |  | 1,407 |  |  | Income tax (expense) benefit
| $ | (67) |  |  | $ | (4,033) |  |  | Net income
Amortization of unrealized losses on held-to-maturity securities transferred from available-for-sale | $ | (13,434) |  |  | $ | (16,574) |  |  | Interest income (expense)
| 3,411 |  |  | 4,186 |  |  | Income tax (expense) benefit
| $ | (10,023) |  |  | $ | (12,388) |  |  | Net income
Gains and losses on hedges Interest rate contracts | $ | (14,560) |  |  | $ | 19,893 |  |  | Interest income (expense)
| 3,765 |  |  | (5,174) |  |  | Income tax (expense) benefit
| $ | (10,795) |  |  | $ | 14,719 |  |  | Net income
Amortization of defined benefit pension items |  |  |  |  |
Actuarial gains (losses) | $ | — |  |  | $ | 182 |  |  | Salaries and employee benefits
| — |  |  | (45) |  |  | Income tax (expense) benefit
| $ | — |  |  | $ | 137 |  |  | Net income
Total reclassifications for the period | $ | (20,885) |  |  | $ | (1,565) |  |  | Net income

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