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Accumulated Other Comprehensive Loss | 9 Months Ended
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Sep. 30, 2022
Accumulated Other Comprehensive Loss |
Accumulated Other Comprehensive Loss | 8. Accumulated Other Comprehensive Loss ​ Accumulated other comprehensive loss is defined as the revenues, expenses, gains and losses that are included in comprehensive loss but excluded from net income. The Company’s significant items of accumulated other comprehensive loss are pension and other benefits, net unrealized gains or losses on investment securities and net unrealized gains or losses on cash flow derivative hedges. ​ Changes in accumulated other comprehensive loss for the three and nine months ended September 30, 2022 and 2021 are presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Tax | ​ | ​ | ​
​ | ​ | Pre-tax | ​ | Benefit | ​ | Net of
(dollars in thousands) |  | Amount |  | (Expense) |  | Tax
Accumulated other comprehensive loss at June 30, 2022 | ​ | $ | (779,352) | ​ | $ | 207,895 | ​ | $ | (571,457)
Three months ended September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (130,000) | ​ | ​ | 34,677 | ​ | ​ | (95,323)
Reclassification of net losses to net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of unrealized holding losses on held-to-maturity securities | ​ | ​ | 15,217 | ​ | ​ | (4,058) | ​ | ​ | 11,159
Net change in investment securities | ​ | ​ | (114,783) | ​ | ​ | 30,619 | ​ | ​ | (84,164)
Cash flow derivative hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (4,372) | ​ | ​ | 1,165 | ​ | ​ | (3,207)
Reclassification of net losses included in net income | ​ | ​ | 98 | ​ | ​ | (26) | ​ | ​ | 72
Net change in cash flow derivative hedges | ​ | ​ | (4,274) | ​ | ​ | 1,139 | ​ | ​ | (3,135)
Other comprehensive loss | ​ | ​ | (119,057) | ​ | ​ | 31,758 | ​ | ​ | (87,299)
Accumulated other comprehensive loss at September 30, 2022 | ​ | $ | (898,409) | ​ | $ | 239,653 | ​ | $ | (658,756)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Tax | ​ | ​ | ​
​ | ​ | Pre-tax | ​ | Benefit | ​ | Net of
(dollars in thousands) |  | Amount |  | (Expense) |  | Tax
Accumulated other comprehensive loss at December 31, 2021 | ​ | $ | (165,967) | ​ | $ | 44,274 | ​ | $ | (121,693)
Nine months ended September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (759,437) | ​ | ​ | 202,580 | ​ | ​ | (556,857)
Reclassification of net losses to net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of unrealized holding losses on held-to-maturity securities | ​ | ​ | 35,146 | ​ | ​ | (9,375) | ​ | ​ | 25,771
Net change in investment securities | ​ | ​ | (724,291) | ​ | ​ | 193,205 | ​ | ​ | (531,086)
Cash flow derivative hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (7,611) | ​ | ​ | 2,030 | ​ | ​ | (5,581)
Reclassification of net gains included in net income | ​ | ​ | (540) | ​ | ​ | 144 | ​ | ​ | (396)
Net change in cash flow derivative hedges | ​ | ​ | (8,151) | ​ | ​ | 2,174 | ​ | ​ | (5,977)
Other comprehensive loss | ​ | ​ | (732,442) | ​ | ​ | 195,379 | ​ | ​ | (537,063)
Accumulated other comprehensive loss at September 30, 2022 | ​ | $ | (898,409) | ​ | $ | 239,653 | ​ | $ | (658,756)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Tax | ​ | ​ | ​
​ | ​ | Pre-tax | ​ | Benefit | ​ | Net of
(dollars in thousands) |  | Amount |  | (Expense) |  | Tax
Accumulated other comprehensive loss at June 30, 2021 | ​ | $ | (40,509) | ​ | $ | 10,807 | ​ | $ | (29,702)
Three months ended September 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (43,316) | ​ | ​ | 11,555 | ​ | ​ | (31,761)
Net change in investment securities | ​ | ​ | (43,316) | ​ | ​ | 11,555 | ​ | ​ | (31,761)
Other comprehensive loss | ​ | ​ | (43,316) | ​ | ​ | 11,555 | ​ | ​ | (31,761)
Accumulated other comprehensive loss at September 30, 2021 | ​ | $ | (83,825) | ​ | $ | 22,362 | ​ | $ | (61,463)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Tax | ​ | ​ | ​
​ | ​ | Pre-tax | ​ | Benefit | ​ | Net of
(dollars in thousands) |  | Amount |  | (Expense) |  | Tax
Accumulated other comprehensive income at December 31, 2020 | ​ | $ | 43,098 | ​ | $ | (11,494) | ​ | $ | 31,604
Nine months ended September 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (126,821) | ​ | ​ | 33,829 | ​ | ​ | (92,992)
Reclassification of net gains to net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities gains, net | ​ | ​ | (102) | ​ | ​ | 27 | ​ | ​ | (75)
Net change in investment securities | ​ | ​ | (126,923) | ​ | ​ | 33,856 | ​ | ​ | (93,067)
Other comprehensive loss | ​ | ​ | (126,923) | ​ | ​ | 33,856 | ​ | ​ | (93,067)
Accumulated other comprehensive loss at September 30, 2021 | ​ | $ | (83,825) | ​ | $ | 22,362 | ​ | $ | (61,463)
​ The following table summarizes changes in accumulated other comprehensive loss, net of tax, for the periods indicated: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Pensions | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated
​ | ​ | and | ​ | Available-for-Sale | ​ | Held-to-Maturity | ​ | Cash Flow | ​ | Other
​ | ​ | Other | ​ | Investment | ​ | Investment | ​ | Derivative | ​ | Comprehensive
(dollars in thousands) |  | Benefits |  | Securities |  | Securities |  | Hedges |  | Loss
Three Months Ended September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period | ​ | $ | (24,390) | ​ | $ | (220,021) | ​ | $ | (324,204) | ​ | $ | (2,842) | ​ | $ | (571,457)
Unrealized net losses related to the transfer of securities from available-for-sale to held-to-maturity | ​ | ​ | — | ​ | ​ | 33,603 | ​ | ​ | (33,603) | ​ | ​ | — | ​ | ​ | —
Other comprehensive (loss) income | ​ | ​ | — | ​ | ​ | (95,323) | ​ | ​ | 11,159 | ​ | ​ | (3,135) | ​ | ​ | (87,299)
Balance at end of period | ​ | $ | (24,390) | ​ | $ | (281,741) | ​ | $ | (346,648) | ​ | $ | (5,977) | ​ | $ | (658,756)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of year | ​ | $ | (24,390) | ​ | $ | (97,303) | ​ | $ | — | ​ | $ | — | ​ | $ | (121,693)
Unrealized net losses related to the transfer of securities from available-for-sale to held-to-maturity | ​ | ​ | — | ​ | ​ | 372,419 | ​ | ​ | (372,419) | ​ | ​ | — | ​ | ​ | —
Other comprehensive (loss) income | ​ | ​ | — | ​ | ​ | (556,857) | ​ | ​ | 25,771 | ​ | ​ | (5,977) | ​ | ​ | (537,063)
Balance at end of period | ​ | $ | (24,390) | ​ | $ | (281,741) | ​ | $ | (346,648) | ​ | $ | (5,977) | ​ | $ | (658,756)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended September 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period | ​ | $ | (31,737) | ​ | $ | 2,035 | ​ | $ | — | ​ | $ | — | ​ | $ | (29,702)
Other comprehensive loss | ​ | ​ | — | ​ | ​ | (31,761) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (31,761)
Balance at end of period | ​ | $ | (31,737) | ​ | $ | (29,726) | ​ | $ | — | ​ | $ | — | ​ | $ | (61,463)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended September 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of year | ​ | $ | (31,737) | ​ | $ | 63,341 | ​ | $ | — | ​ | $ | — | ​ | $ | 31,604
Other comprehensive loss | ​ | ​ | — | ​ | ​ | (93,067) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (93,067)
Balance at end of period | ​ | $ | (31,737) | ​ | $ | (29,726) | ​ | $ | — | ​ | $ | — | ​ | $ | (61,463)
​

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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 https://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 https://asc.fasb.org/extlink&oid=126953954&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 https://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 https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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