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Accumulated Other Comprehensive (Loss) Income (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
Changes in other comprehensive income (loss) | The following table presents the components of other comprehensive income (loss):
| Before-Tax Amount |  | Tax Effect |  | Net of Tax Amount
| (dollars in thousands)
Three months ended September 30, 2023 |  |  |  |  |
Net unrealized losses on securities | $ | (135,811) |  |  | $ | 30,761 |  |  | $ | (105,050) |
Amortization of net unrealized gains on AFS securities transferred to HTM(1) | 1,932 |  |  | (438) |  |  | 1,494 |
Net unrealized holding gains arising during the period on interest rate derivatives used in cash flow hedges | 4,691 |  |  | (1,040) |  |  | 3,651 |
Reclassification adjustment for net change realized in net income on interest rate derivatives used in cash flow hedges | 6,248 |  |  | 172 |  |  | 6,420 |
Amortization of net unrecognized pension and postretirement items(2) | 18 |  |  | (3) |  |  | 15 |
Total Other Comprehensive Loss | $ | (122,922) |  |  | $ | 29,452 |  |  | $ | (93,470) |
Three months ended September 30, 2022 |  |  |  |  |
Net unrealized losses on securities | $ | (155,758) |  |  | $ | 35,373 |  |  | $ | (120,385) |
Reclassification adjustment for securities net change included in net income(3) | (53) |  |  | 12 |  |  | (41) |
Amortization of net unrealized gains on AFS securities transferred to HTM(1) | 2,139 |  |  | (486) |  |  | 1,653 |
Net unrealized holding losses arising during the period on interest rate derivatives used in cash flow hedges | (29,053) |  |  | 6,581 |  |  | (22,472) |
Reclassification adjustment for net change realized in net income on interest rate derivatives used in cash flow hedges | 3,210 |  |  | (727) |  |  | 2,483 |
Amortization of net unrecognized pension and postretirement items(2) | 33 |  |  | (8) |  |  | 25 |
Total Other Comprehensive Loss | $ | (179,482) |  |  | $ | 40,745 |  |  | $ | (138,737) |
Nine months ended September 30, 2023 |  |  |  |  |
Unrealized loss on securities | $ | (133,973) |  |  | $ | 30,345 |  |  | $ | (103,628) |
Reclassification adjustment for securities net change included in net income(3) | 19 |  |  | (5) |  |  | 14 |
Amortization of net unrealized gains on AFS securities transferred to HTM(1) | 5,783 |  |  | (1,310) |  |  | 4,473 |
Net unrealized holding gains (losses) arising during the period on interest rate derivatives used in cash flow hedges | 9,975 |  | (18,730) |  |  | (8,755) |
Reclassification adjustment for net change realized in net income on interest rate swaps used in cash flow hedges | 20,437 |  |  | 136 |  |  | 20,573 |
Amortization of net unrecognized pension and postretirement item(2) | 55 |  |  | (12) |  |  | 43 |
Total Other Comprehensive Loss | $ | (97,704) |  |  | $ | 10,424 |  |  | $ | (87,280) |
Nine months ended September 30, 2022 |  |  |  |  |
Unrealized loss on securities | $ | (469,137) |  |  | $ | 106,541 |  |  | $ | (362,596) |
Reclassification adjustment for securities net change included in net income(3) | (26) |  |  | 6 |  |  | (20) |
Amortization of net unrealized losses on AFS securities transferred to HTM(1) | (59,547) |  |  | 13,523 |  |  | (46,024) |
Net unrealized holding losses arising during the period on interest rate derivatives used in cash flow hedges | (80,716) |  |  | 18,282 |  |  | (62,434) |
Reclassification adjustment for change realized in net income on interest rate swaps used in cash flow hedges | 828 |  |  | (187) |  |  | 641 |
Amortization of net unrecognized pension and postretirement items(2) | 96 |  |  | (21) |  |  | 75 |
Total Other Comprehensive Loss | $ | (608,502) |  |  | $ | 138,144 |  |  | $ | (470,358) |
(1) Amounts reclassified out of AOCI. Before-tax amounts included as a reduction to "Interest Income" on the Consolidated Statements of Income. (2) 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. (3) Amounts reclassified out of AOCI. Before-tax amounts included in "Investment securities gains, net" on the Consolidated Statements of Income. See "Note 4 - Investment Securities," for additional details.
Changes in each component of accumulated other comprehensive income (loss) | 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 Gain (Loss) on Interest Rate Derivatives used in Cash Flow Hedges |  |  |  | Unrecognized Pension and Postretirement Plan Income (Costs) |  | Total
| (dollars in thousands)
Three months ended September 30, 2023 |  |  |  |  |  |  |  |  |
Balance at June 30, 2023 | $ | (311,816) |  |  | $ | (60,029) |  |  |  |  | $ | (7,441) |  |  | $ | (379,286) |
OCI before reclassifications | (105,050) |  |  | 3,651 |  |  |  |  | — |  |  | (101,399) |
Amounts reclassified from AOCI | — |  |  | 6,420 |  |  |  |  | 15 |  |  | 6,435 |
Amortization of net unrealized gains on AFS securities transferred to HTM | 1,494 |  |  | — |  |  |  |  | — |  |  | 1,494 |
Balance at September 30, 2023 | $ | (415,372) |  |  | $ | (49,958) |  |  |  |  | $ | (7,426) |  |  | $ | (472,756) |
Three months ended September 30, 2022 |  |  |  |  |  |  |  |  |
Balance at June 30, 2022 | $ | (249,427) |  |  | $ | (46,620) |  |  |  |  | $ | (8,163) |  |  | $ | (304,210) |
OCI before reclassifications | (120,385) |  |  | (22,472) |  |  |  |  | — |  |  | (142,857) |
Amounts reclassified from AOCI | (41) |  |  | 2,483 |  |  |  |  | 25 |  |  | 2,467 |
Amortization of net unrealized losses on AFS securities transferred to HTM | 1,653 |  |  | — |  |  |  |  | — |  |  | 1,653 |
Balance at September 30, 2022 | $ | (368,200) |  |  | $ | (66,609) |  |  |  |  | $ | (8,138) |  |  | $ | (442,947) |
Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |
Balance at December 31, 2022 | $ | (316,231) |  |  | $ | (61,776) |  |  |  |  | $ | (7,469) |  |  | $ | (385,476) |
OCI before reclassifications | (103,628) |  |  | (8,755) |  |  |  |  | — |  |  | (112,383) |
Amounts reclassified from AOCI | 14 |  |  | 20,573 |  |  |  |  | 43 |  |  | 20,630 |
Amortization of net unrealized gains on AFS securities transferred to HTM | 4,473 |  |  | — |  |  |  |  | — |  |  | 4,473 |
Balance at September 30, 2023 | $ | (415,372) |  |  | $ | (49,958) |  |  |  |  | $ | (7,426) |  |  | $ | (472,756) |
Nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |
Balance at December 31, 2021 | $ | 40,440 |  |  | $ | (4,816) |  |  |  |  | $ | (8,213) |  |  | $ | 27,411 |
OCI before reclassifications | (362,596) |  |  | (62,434) |  |  |  |  | — |  |  | (425,030) |
Amounts reclassified from AOCI | (20) |  |  | 641 |  |  |  |  | 75 |  |  | 696 |
Amortization of net unrealized losses on AFS securities transferred to HTM | (46,024) |  |  | — |  |  |  |  | — |  |  | (46,024) |
Balance at September 30, 2022 | $ | (368,200) |  |  | $ | (66,609) |  |  |  |  | $ | (8,138) |  |  | $ | (442,947) |

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