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Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive (Loss) Income

The following table presents the components of other comprehensive (loss) income:

			Before-Tax Amount						Tax Effect						Net of Tax Amount
Three months ended March 31, 2022			(in thousands)
Unrealized loss on securities			$	(199,068)					$	45,208					$	(153,860)
Reclassification adjustment for securities gains included in net income (1)			19						(4)						15
Amortization of net unrealized losses on AFS securities transferred to HTM (2)			564						(128)						436
Net unrealized holding loss arising during the period on interest rate swaps used in cash flow hedges			(40,563)						9,187						(31,376)
Reclassification adjustment for net loss realized in net income on interest rate swaps used in cash flow hedges			(1,948)						442						(1,506)
Amortization of net unrecognized pension and postretirement items (3)			32						(7)						25
Total Other Comprehensive Loss			$	(240,964)					$	54,698					$	(186,266)
Three months ended March 31, 2021
Unrealized loss on securities			$	(51,752)					$	11,753					$	(39,999)
Reclassification adjustment for securities gains included in net income (1)			487						(110)						377
Amortization of net unrealized losses on AFS securities transferred to HTM (2)			2,312						(525)						1,787
Net unrealized holding loss arising during the period on interest rate swaps used in cash flow hedges			(2,065)						230						(1,835)
Reclassification adjustment for net loss realized in net income on interest rate swaps used in cash flow hedges			144						(16)						128
Amortization of net unrecognized pension and postretirement items (3)			370						(81)						289
Total Other Comprehensive Loss			$	(50,504)					$	11,251					$	(39,253)

(1)    Amounts reclassified out of AOCI. Before-tax amounts included in "Investment securities gains, net" on the Consolidated Statements of Income. See Note 3, "Investment Securities," for additional details.

(2)    Amounts reclassified out of AOCI. Before-tax amounts included as a reduction to "Interest Income" on the Consolidated Statements of Income.

(3)    Amounts reclassified out of AOCI. Before-tax amounts included in "Salaries and employee benefits" on the Consolidated Statements of Income. See Note 12, "Employee Benefit Plans," for additional details.

The following table presents changes in each component of accumulated other comprehensive income (loss), net of tax:

			Unrealized Gains (Losses) on Investment Securities						Net Unrealized (Loss) Gain on Interest Rate Swaps used in Cash Flow Hedges												Unrecognized Pension and Postretirement Plan Income (Costs)						Total
			(in thousands)
Three months ended March 31, 2022
Balance at December 31, 2021			$	40,441					$	(4,817)											$	(8,213)					$	27,411
OCI before reclassifications			(153,860)						—												—						(153,860)
Amounts reclassified from AOCI			15						(32,882)												25						(32,842)
Amortization of net unrealized losses on AFS securities transferred to HTM			436						—												—						436
Balance at March 31, 2022			$	(112,968)					$	(37,699)											$	(8,188)					$	(158,855)
Three months ended March 31, 2021
Balance at December 31, 2020			$	81,604					$	—											$	(16,513)					$	65,091
OCI before reclassifications			(39,999)						—												—						(39,999)
Amounts reclassified from AOCI			377						(1,707)												289						(1,041)
Amortization of net unrealized losses on AFS securities transferred to HTM			1,787						—												—						1,787
Balance at March 31, 2021			$	43,769					$	(1,707)											$	(16,224)					$	25,838

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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- References

No definition available.

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