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CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Schedule of Components of Accumulated Other Comprehensive Loss | Changes to accumulated other comprehensive loss by component are shown, net of taxes, in the following tables for the period indicated:
(Dollars in thousands) |  | Net change in investment securities available-for-sale |  | Net change in investment securities held-to-maturity |  | Net change in defined benefit plan |  | Net change in fair value of derivatives used for cash flow hedges |  | Net change in equity method investments |  | Total
Balance, June 30, 2024 |  | $ | (549,039) |  |  | $ | (84,046) |  |  | $ | (4,790) |  |  | $ | (5,423) |  |  | $ | 420 |  |  | $ | (642,878) |
Other comprehensive income (loss) |  | 128,223 |  |  | — |  |  | (4) |  |  | 10,722 |  |  | 4 |  |  | 138,945 |
Less: Amounts reclassified from accumulated other comprehensive loss |  | — |  |  | 3,965 |  |  | (49) |  |  | — |  |  | — |  |  | 3,916 |
Net current-period other comprehensive income (loss) |  | 128,223 |  |  | 3,965 |  |  | (53) |  |  | 10,722 |  |  | 4 |  |  | 142,861 |
Balance, September 30, 2024 |  | $ | (420,816) |  |  | $ | (80,081) |  |  | $ | (4,843) |  |  | $ | 5,299 |  |  | $ | 424 |  |  | $ | (500,017) |
Balance, June 30, 2023 |  | $ | (550,890) |  |  | $ | (99,945) |  |  | $ | (4,571) |  |  | $ | (1,115) |  |  | $ | 462 |  |  | $ | (656,059) |
Other comprehensive (loss) income |  | (127,523) |  |  | — |  |  | (3) |  |  | (1,608) |  |  | 192 |  |  | (128,942) |
Less: Amounts reclassified from accumulated other comprehensive loss |  | — |  |  | 4,366 |  |  | (48) |  |  | (28) |  |  | — |  |  | 4,290 |
Net current-period other comprehensive (loss) income |  | (127,523) |  |  | 4,366 |  |  | (51) |  |  | (1,636) |  |  | 192 |  |  | (124,652) |
Balance, September 30, 2023 |  | $ | (678,413) |  |  | $ | (95,579) |  |  | $ | (4,622) |  |  | $ | (2,751) |  |  | $ | 654 |  |  | $ | (780,711) |
(Dollars in thousands) |  | Net change in investment securities available-for-sale |  | Net change in investment securities held-to-maturity |  | Net change in defined benefit plan |  | Net change in fair value of derivatives used for cash flow hedges(1) |  | Net change in equity method investments |  | Total
Balance, December 31, 2023 |  | $ | (499,932) |  |  | $ | (91,523) |  |  | $ | (4,614) |  |  | $ | 1,597 |  |  | $ | 481 |  |  | $ | (593,991) |
Other comprehensive income (loss) |  | 79,116 |  |  | — |  |  | (81) |  |  | 3,702 |  |  | (57) |  |  | 82,680 |
Less: Amounts reclassified from accumulated other comprehensive loss |  | — |  |  | 11,442 |  |  | (148) |  |  | — |  |  | — |  |  | 11,294 |
Net current-period other comprehensive income (loss) |  | 79,116 |  |  | 11,442 |  |  | (229) |  |  | 3,702 |  |  | (57) |  |  | 93,974 |
Balance, September 30, 2024 |  | $ | (420,816) |  |  | $ | (80,081) |  |  | $ | (4,843) |  |  | $ | 5,299 |  |  | $ | 424 |  |  | $ | (500,017) |
Balance, December 31, 2022 |  | $ | (563,533) |  |  | $ | (108,503) |  |  | $ | (4,482) |  |  | $ | 108 |  |  | $ | 566 |  |  | $ | (675,844) |
Other comprehensive (loss) income |  | (114,880) |  |  | — |  |  | 2 |  |  | (2,752) |  |  | 88 |  |  | (117,542) |
Less: Amounts reclassified from accumulated other comprehensive loss |  | — |  |  | 12,924 |  |  | (142) |  |  | (107) |  |  | — |  |  | 12,675 |
Net current-period other comprehensive (loss) income |  | (114,880) |  |  | 12,924 |  |  | (140) |  |  | (2,859) |  |  | 88 |  |  | (104,867) |
Balance, September 30, 2023 |  | $ | (678,413) |  |  | $ | (95,579) |  |  | $ | (4,622) |  |  | $ | (2,751) |  |  | $ | 654 |  |  | $ | (780,711) |
(1)Includes amortization of net gain for cash flow hedges terminated as of April 1, 2020.
Schedule of Components of Other Comprehensive Income (Loss) | The unaudited Consolidated Statements of Income were impacted by components of other comprehensive income (loss) as shown in the tables below:
|  | Three Months Ended September 30, |  | Affected line item in unaudited Consolidated Statements of Income
(Dollars in thousands) |  | 2024 |  | 2023 |  |
Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity: |  |  |  |  |  |
Amortization of net unrealized losses to income during the period |  | 5,217 |  |  | 5,745 |  |  | Net interest income
Income taxes |  | (1,252) |  |  | (1,379) |  |  | Income tax provision
Net of tax |  | 3,965 |  |  | 4,366 |  |  |
Amortization of defined benefit pension plan-related items: |  |  |  |  |  |
Prior service credits |  | (19) |  |  | (19) |  |  |
Actuarial gains |  | (46) |  |  | (44) |  |  |
Total before tax |  | (65) |  |  | (63) |  |  | Salaries, benefits and other compensation
Income taxes |  | 16 |  |  | 15 |  |  | Income tax provision
Net of tax |  | (49) |  |  | (48) |  |  |
Net unrealized gains on terminated cash flow hedges: |  |  |  |  |  |
Amortization of net unrealized gains to income during the period |  | — |  |  | (37) |  |  | Interest and fees on loans and leases
Income taxes |  | — |  |  | 9 |  |  | Income tax provision
Net of tax |  | — |  |  | (28) |  |  |
Total reclassifications |  | $ | 3,916 |  |  | $ | 4,290 |  |  |
|  | Nine Months Ended September 30, |  | Affected line item in unaudited Consolidated Statements of Income
|  | 2024 |  | 2023 |  |
Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity: |  |  |  |  |  |
Amortization of net unrealized losses to income during the period |  | 15,055 |  |  | 17,005 |  |  | Net interest income
Income taxes |  | (3,613) |  |  | (4,081) |  |  | Income tax provision
Net of tax |  | 11,442 |  |  | 12,924 |  |  |
Amortization of defined benefit pension plan-related items: |  |  |  |  |  |
Prior service credits |  | (57) |  |  | (57) |  |  |
Actuarial gains |  | (138) |  |  | (130) |  |  |
Total before tax |  | (195) |  |  | (187) |  |  | Salaries, benefits and other compensation
Income taxes |  | 47 |  |  | 45 |  |  | Income tax provision
Net of tax |  | (148) |  |  | (142) |  |  |
Net unrealized gains on terminated cash flow hedges: |  |  |  |  |  |
Amortization of net unrealized gains to income during the period |  | — |  |  | (141) |  |  | Interest and fees on loans and leases
Income taxes |  | — |  |  | 34 |  |  | Income tax provision
Net of tax |  | — |  |  | (107) |  |  |
Total reclassifications |  | $ | 11,294 |  |  | $ | 12,675 |  |  |

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1 + Details
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