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Accumulated Other Comprehensive Loss | 9 Months Ended
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Sep. 30, 2024
Accumulated Other Comprehensive Loss |
Accumulated Other Comprehensive Loss | 9. 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, 2024 and 2023 are presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Tax | ​ | ​ | ​
​ | ​ | Pre-tax | ​ | Benefit | ​ | Net of
(dollars in thousands) |  | Amount |  | (Expense) |  | Tax
Accumulated other comprehensive loss at June 30, 2024 | ​ | $ | (707,992) | ​ | $ | 188,860 | ​ | $ | (519,132)
Three months ended September 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net gains arising during the period | ​ | ​ | 76,226 | ​ | ​ | (20,333) | ​ | ​ | 55,893
Reclassification of net losses to net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of unrealized holding losses on held-to-maturity securities | ​ | ​ | 13,922 | ​ | ​ | (3,714) | ​ | ​ | 10,208
Net change in investment securities | ​ | ​ | 90,148 | ​ | ​ | (24,047) | ​ | ​ | 66,101
Cash flow derivative hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net gains arising during the period | ​ | ​ | 501 | ​ | ​ | (133) | ​ | ​ | 368
Reclassification of net losses included in net income | ​ | ​ | 7 | ​ | ​ | (2) | ​ | ​ | 5
Net change in cash flow derivative hedges | ​ | ​ | 508 | ​ | ​ | (135) | ​ | ​ | 373
Other comprehensive income | ​ | ​ | 90,656 | ​ | ​ | (24,182) | ​ | ​ | 66,474
Accumulated other comprehensive loss at September 30, 2024 | ​ | $ | (617,336) | ​ | $ | 164,678 | ​ | $ | (452,658)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Tax | ​ | ​ | ​
​ | ​ | Pre-tax | ​ | Benefit | ​ | Net of
(dollars in thousands) |  | Amount |  | (Expense) |  | Tax
Accumulated other comprehensive loss at December 31, 2023 | ​ | $ | (723,100) | ​ | $ | 192,890 | ​ | $ | (530,210)
Nine months ended September 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net gains arising during the period | ​ | ​ | 68,517 | ​ | ​ | (18,277) | ​ | ​ | 50,240
Reclassification of net losses to net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of unrealized holding losses on held-to-maturity securities | ​ | ​ | 35,747 | ​ | ​ | (9,535) | ​ | ​ | 26,212
Net change in investment securities | ​ | ​ | 104,264 | ​ | ​ | (27,812) | ​ | ​ | 76,452
Cash flow derivative hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (325) | ​ | ​ | 87 | ​ | ​ | (238)
Reclassification of net losses included in net income | ​ | ​ | 1,825 | ​ | ​ | (487) | ​ | ​ | 1,338
Net change in cash flow derivative hedges | ​ | ​ | 1,500 | ​ | ​ | (400) | ​ | ​ | 1,100
Other comprehensive income | ​ | ​ | 105,764 | ​ | ​ | (28,212) | ​ | ​ | 77,552
Accumulated other comprehensive loss at September 30, 2024 | ​ | $ | (617,336) | ​ | $ | 164,678 | ​ | $ | (452,658)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Tax | ​ | ​ | ​
​ | ​ | Pre-tax | ​ | Benefit | ​ | Net of
(dollars in thousands) |  | Amount |  | (Expense) |  | Tax
Accumulated other comprehensive loss at June 30, 2023 | ​ | $ | (835,647) | ​ | $ | 222,911 | ​ | $ | (612,736)
Three months ended September 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (61,874) | ​ | ​ | 16,505 | ​ | ​ | (45,369)
Reclassification of net losses to net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of unrealized holding losses on held-to-maturity securities | ​ | ​ | 11,434 | ​ | ​ | (3,050) | ​ | ​ | 8,384
Net change in investment securities | ​ | ​ | (50,440) | ​ | ​ | 13,455 | ​ | ​ | (36,985)
Cash flow derivative hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (373) | ​ | ​ | 100 | ​ | ​ | (273)
Reclassification of net losses included in net income | ​ | ​ | 1,723 | ​ | ​ | (460) | ​ | ​ | 1,263
Net change in cash flow derivative hedges | ​ | ​ | 1,350 | ​ | ​ | (360) | ​ | ​ | 990
Other comprehensive loss | ​ | ​ | (49,090) | ​ | ​ | 13,095 | ​ | ​ | (35,995)
Accumulated other comprehensive loss at September 30, 2023 | ​ | $ | (884,737) | ​ | $ | 236,006 | ​ | $ | (648,731)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Income | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Tax | ​ | ​ | ​
​ | ​ | Pre-tax | ​ | Benefit | ​ | Net of
(dollars in thousands) |  | Amount |  | (Expense) |  | Tax
Accumulated other comprehensive loss at December 31, 2022 | ​ | $ | (871,813) | ​ | $ | 232,559 | ​ | $ | (639,254)
Nine months ended September 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (50,861) | ​ | ​ | 13,567 | ​ | ​ | (37,294)
Reclassification of net losses to net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of unrealized holding losses on held-to-maturity securities | ​ | ​ | 36,206 | ​ | ​ | (9,658) | ​ | ​ | 26,548
Net change in investment securities | ​ | ​ | (14,655) | ​ | ​ | 3,909 | ​ | ​ | (10,746)
Cash flow derivative hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized net losses arising during the period | ​ | ​ | (2,868) | ​ | ​ | 765 | ​ | ​ | (2,103)
Reclassification of net losses included in net income | ​ | ​ | 4,599 | ​ | ​ | (1,227) | ​ | ​ | 3,372
Net change in cash flow derivative hedges | ​ | ​ | 1,731 | ​ | ​ | (462) | ​ | ​ | 1,269
Other comprehensive loss | ​ | ​ | (12,924) | ​ | ​ | 3,447 | ​ | ​ | (9,477)
Accumulated other comprehensive loss at September 30, 2023 | ​ | $ | (884,737) | ​ | $ | 236,006 | ​ | $ | (648,731)
​ 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, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period | ​ | $ | (5,373) | ​ | $ | (228,076) | ​ | $ | (285,607) | ​ | $ | (76) | ​ | $ | (519,132)
Other comprehensive income | ​ | ​ | — | ​ | ​ | 55,893 | ​ | ​ | 10,208 | ​ | ​ | 373 | ​ | ​ | 66,474
Balance at end of period | ​ | $ | (5,373) | ​ | $ | (172,183) | ​ | $ | (275,399) | ​ | $ | 297 | ​ | $ | (452,658)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended September 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period | ​ | $ | (5,373) | ​ | $ | (222,423) | ​ | $ | (301,611) | ​ | $ | (803) | ​ | $ | (530,210)
Other comprehensive income | ​ | ​ | — | ​ | ​ | 50,240 | ​ | ​ | 26,212 | ​ | ​ | 1,100 | ​ | ​ | 77,552
Balance at end of period | ​ | $ | (5,373) | ​ | $ | (172,183) | ​ | $ | (275,399) | ​ | $ | 297 | ​ | $ | (452,658)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended September 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period | ​ | $ | (5,431) | ​ | $ | (284,100) | ​ | $ | (318,782) | ​ | $ | (4,423) | ​ | $ | (612,736)
Other comprehensive (loss) income | ​ | ​ | — | ​ | ​ | (45,369) | ​ | ​ | 8,384 | ​ | ​ | 990 | ​ | ​ | (35,995)
Balance at end of period | ​ | $ | (5,431) | ​ | $ | (329,469) | ​ | $ | (310,398) | ​ | $ | (3,433) | ​ | $ | (648,731)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended September 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at beginning of period | ​ | $ | (5,431) | ​ | $ | (292,175) | ​ | $ | (336,946) | ​ | $ | (4,702) | ​ | $ | (639,254)
Other comprehensive (loss) income | ​ | ​ | — | ​ | ​ | (37,294) | ​ | ​ | 26,548 | ​ | ​ | 1,269 | ​ | ​ | (9,477)
Balance at end of period | ​ | $ | (5,431) | ​ | $ | (329,469) | ​ | $ | (310,398) | ​ | $ | (3,433) | ​ | $ | (648,731)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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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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