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Other Comprehensive Income (Loss) (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Changes in the components of other comprehensive income (loss) | Changes in the components of other comprehensive income (loss), net of tax, were as follows:
| Pre-Tax |  | Tax Expense (Benefit) |  | Net of Tax
Year Ended December 31, 2023 |  |  |  |  |
Securities available for sale: |  |  |  |  |
Unrealized holding gains on securities | $ | 20,194 |  |  | $ | 5,066 |  |  | $ | 15,128 |
Reclassification adjustment for losses realized in net income(1) | 41,494 |  |  | 10,431 |  |  | 31,063 |
Amortization of unrealized holding losses on securities transferred to the held to maturity category | 13,557 |  |  | 3,466 |  |  | 10,091 |
Total securities available for sale | 75,245 |  |  | 18,963 |  |  | 56,282 |
Derivative instruments: |  |  |  |  |
Unrealized holding losses on derivative instruments | (2,558) |  |  | (653) |  |  | (1,905) |
Total derivative instruments | (2,558) |  |  | (653) |  |  | (1,905) |
Defined benefit pension and post-retirement benefit plans: |  |  |  |  |
Net gain arising during the period | 80 |  |  | 20 |  |  | 60 |
Amortization of net actuarial loss recognized in net periodic pension cost(2) | 462 |  |  | 118 |  |  | 344 |
Total defined benefit pension and post-retirement benefit plans | 542 |  |  | 138 |  |  | 404 |
Total other comprehensive income | $ | 73,229 |  |  | $ | 18,448 |  |  | $ | 54,781 |
Year Ended December 31, 2022 |  |  |  |  |
Securities available for sale: |  |  |  |  |
Unrealized holding losses on securities | $ | (285,829) |  |  | $ | (71,478) |  |  | $ | (214,351) |
Amortization of unrealized holding losses on securities transferred to the held to maturity category | 4,964 |  |  | 1,263 |  |  | 3,701 |
Total securities available for sale | (280,865) |  |  | (70,215) |  |  | (210,650) |
Derivative instruments: |  |  |  |  |
Unrealized holding gains on derivative instruments | 20,118 |  |  | 5,125 |  |  | 14,993 |
Total derivative instruments | 20,118 |  |  | 5,125 |  |  | 14,993 |
Defined benefit pension and post-retirement benefit plans: |  |  |  |  |
Net loss arising during the period | (4,107) |  |  | (1,045) |  |  | (3,062) |
Amortization of net actuarial loss recognized in net periodic pension cost(2) | 167 |  |  | 42 |  |  | 125 |
Total defined benefit pension and post-retirement benefit plans | (3,940) |  |  | (1,003) |  |  | (2,937) |
Total other comprehensive loss | $ | (264,687) |  |  | $ | (66,093) |  |  | $ | (198,594) |
| Pre-Tax |  | Tax Expense (Benefit) |  | Net of Tax
Year Ended December 31, 2021 |  |  |  |  |
Securities available for sale: |  |  |  |  |
Unrealized holding losses on securities | $ | (51,470) |  |  | $ | (13,099) |  |  | $ | (38,371) |
Reclassification adjustment for gains realized in net income(1) | (2,170) |  |  | (552) |  |  | (1,618) |
Amortization of unrealized holding gains on securities transferred to the held to maturity category | (73) |  |  | (19) |  |  | (54) |
Total securities available for sale | (53,713) |  |  | (13,670) |  |  | (40,043) |
Derivative instruments: |  |  |  |  |
Unrealized holding gains on derivative instruments | 10,848 |  |  | 2,761 |  |  | 8,087 |
Reclassification adjustment for gains realized in net income related to swap termination | (4,676) |  |  | (1,190) |  |  | (3,486) |
Total derivative instruments | 6,172 |  |  | 1,571 |  |  | 4,601 |
Defined benefit pension and post-retirement benefit plans: |  |  |  |  |
Net loss arising during the period | (356) |  |  | (92) |  |  | (264) |
Amortization of net actuarial loss recognized in net periodic pension cost(2) | 262 |  |  | 67 |  |  | 195 |
Total defined benefit pension and post-retirement benefit plans | (94) |  |  | (25) |  |  | (69) |
Total other comprehensive loss | $ | (47,635) |  |  | $ | (12,124) |  |  | $ | (35,511) |
(1) Included in Net (losses) gains on sales of securities and Impairment losses on securities in the Consolidated Statements of Income (2) Included in Salaries and employee benefits in the Consolidated Statements of Income
Accumulated balances for each component of other comprehensive income (loss), net of tax | The accumulated balances for each component of other comprehensive income (loss), net of tax, at December 31 were as follows:
| 2023 |  | 2022 |  | 2021
Unrealized losses on securities | $ | (163,484) |  |  | $ | (219,766) |  |  | $ | (9,116) |
Unrealized gains on derivative instruments | 17,051 |  |  | 18,956 |  |  | 3,963 |
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations | (7,823) |  |  | (8,227) |  |  | (5,290) |
Total accumulated other comprehensive loss | $ | (154,256) |  |  | $ | (209,037) |  |  | $ | (10,443) |

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