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Accumulated Other Comprehensive (Loss) Income | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Accumulated Other Comprehensive (Loss) Income | Accumulated Other Comprehensive (Loss) Income 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, 2024 |  |  |  |  |
Net unrealized gain on securities | $ | 88,637 |  |  | $ | (20,077) |  |  | $ | 68,560 |
Reclassification adjustment for securities net change included in net income(1) | 1 |  |  | — |  |  | 1 |
Amortization of net unrealized gains on AFS securities transferred to HTM(1) | 1,837 |  |  | (415) |  |  | 1,422 |
Net unrealized holding losses arising during the period on interest rate derivatives used in cash flow hedges | (8,564) |  |  | 1,940 |  |  | (6,624) |
Reclassification adjustment for net change realized in net income on interest rate derivatives used in cash flow hedges | 5,144 |  |  | (1,165) |  |  | 3,979 |
Amortization of net unrecognized pension and postretirement items(2) | (135) |  |  | 29 |  |  | (106) |
Total Other Comprehensive Income | $ | 86,920 |  |  | $ | (19,688) |  |  | $ | 67,232 |
Three months ended September 30, 2023 |  |  |  |  |
Net unrealized losses on securities | $ | (135,811) |  |  | $ | 30,761 |  |  | $ | (105,050) |
Reclassification adjustment for securities net change included in net income(3) | — |  |  | — |  |  | — |
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) |
Nine months ended September 30, 2024 |  |  |  |  |
Unrealized gain on securities | $ | 48,735 |  |  | $ | (11,039) |  |  | $ | 37,696 |
Reclassification adjustment for securities net change included in net income(3) | 20,283 |  |  | (4,594) |  |  | 15,689 |
Amortization of net unrealized gains on AFS securities transferred to HTM(1) | 5,445 |  |  | (1,233) |  |  | 4,212 |
Net unrealized holding losses arising during the period on interest rate derivatives used in cash flow hedges | (92) |  | 21 |  |  | (71) |
Reclassification adjustment for net change realized in net income on interest rate swaps used in cash flow hedges | 15,158 |  |  | (3,389) |  |  | 11,769 |
Amortization of net unrecognized pension and postretirement item(2) | (406) |  |  | 89 |  |  | (317) |
Total Other Comprehensive Income | $ | 89,123 |  |  | $ | (20,145) |  |  | $ | 68,978 |
Nine months ended September 30, 2023 |  |  |  |  |
Unrealized losses 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 arising during the period on interest rate derivatives used in cash flow hedges | 9,975 |  |  | (18,730) |  |  | (8,755) |
Reclassification adjustment for 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 items(2) | 55 |  |  | (12) |  |  | 43 |
Total Other Comprehensive Income | $ | (97,704) |  |  | $ | 10,424 |  |  | $ | (87,280) |
(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. 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, 2024 |  |  |  |  |  |  |  |  |
Balance at June 30, 2024 | $ | (287,248) |  |  | $ | (20,440) |  |  |  |  | $ | (2,846) |  |  | $ | (310,534) |
OCI before reclassifications | 68,560 |  |  | (6,624) |  |  |  |  | — |  |  | 61,936 |
Amounts reclassified from AOCI | 1 |  |  | 3,979 |  |  |  |  | (106) |  |  | 3,874 |
Amortization of net unrealized gains on AFS securities transferred to HTM | 1,422 |  |  | — |  |  |  |  | — |  |  | 1,422 |
Balance at September 30, 2024 | $ | (217,265) |  |  | $ | (23,085) |  |  |  |  | $ | (2,952) |  |  | $ | (243,302) |
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 losses on AFS securities transferred to HTM | 1,494 |  |  | — |  |  |  |  | — |  |  | 1,494 |
Balance at September 30, 2023 | $ | (415,372) |  |  | $ | (49,958) |  |  |  |  | $ | (7,426) |  |  | $ | (472,756) |
Nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |
Balance at December 31, 2023 | $ | (274,862) |  |  | $ | (34,783) |  |  |  |  | $ | (2,635) |  |  | $ | (312,280) |
OCI before reclassifications | 37,696 |  |  | (71) |  |  |  |  | — |  |  | 37,625 |
Amounts reclassified from AOCI | 15,689 |  |  | 11,769 |  |  |  |  | (317) |  |  | 27,141 |
Amortization of net unrealized gains on AFS securities transferred to HTM | 4,212 |  |  | — |  |  |  |  | — |  |  | 4,212 |
Balance at September 30, 2024 | $ | (217,265) |  |  | $ | (23,085) |  |  |  |  | $ | (2,952) |  |  | $ | (243,302) |
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 losses on AFS securities transferred to HTM | 4,473 |  |  | — |  |  |  |  | — |  |  | 4,473 |
Balance at September 30, 2023 | $ | (415,372) |  |  | $ | (49,958) |  |  |  |  | $ | (7,426) |  |  | $ | (472,756) |

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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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