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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 12 Months Ended
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Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of accumulated other comprehensive income (loss) by component | The changes in accumulated other comprehensive income (loss) by component are as follows for the years presented (in thousands):
| Year Ended December 31, 2024
| Unrealized Gains (Losses) on Securities |  |  | Unrealized Gains (Losses) on Derivatives |  |  |  | Retirement Plans |  | Total
Beginning balance, net of tax | $ | (107,499) |  |  |  | $ | 12,803 |  |  |  |  | $ | (18,766) |  |  | $ | (113,462) |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications | (16,686) |  |  |  | 13,814 |  |  |  |  | (928) |  |  | (3,800) |
Reclassification adjustments included in net income | 10,737 |  |  |  | (22,042) |  |  |  |  | 629 |  |  | (10,676) |
Income tax (expense) benefit | 1,249 |  |  |  | 1,728 |  |  |  |  | 63 |  |  | 3,040 |
Net current-period other comprehensive income (loss), net of tax | (4,700) |  |  |  | (6,500) |  |  |  |  | (236) |  |  | (11,436) |
Ending balance, net of tax | $ | (112,199) |  |  |  | $ | 6,303 |  |  |  |  | $ | (19,002) |  |  | $ | (124,898) |
| Year Ended December 31, 2023
| Unrealized Gains (Losses) on Securities |  |  | Unrealized Gains (Losses) on Derivatives |  |  |  | Retirement Plans |  | Total
Beginning balance, net of tax | $ | (149,181) |  |  |  | $ | 31,227 |  |  |  |  | $ | (19,502) |  |  | $ | (137,456) |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications | 28,782 |  |  |  | 1,222 |  |  |  |  | 176 |  |  | 30,180 |
Reclassification adjustments included in net income | 23,980 |  |  |  | (24,544) |  |  |  |  | 756 |  |  | 192 |
Income tax (expense) benefit | (11,080) |  |  |  | 4,898 |  |  |  |  | (196) |  |  | (6,378) |
Net current-period other comprehensive income (loss), net of tax | 41,682 |  |  |  | (18,424) |  |  |  |  | 736 |  |  | 23,994 |
Ending balance, net of tax | $ | (107,499) |  |  |  | $ | 12,803 |  |  |  |  | $ | (18,766) |  |  | $ | (113,462) |
| Year Ended December 31, 2022
| Unrealized Gains (Losses) on Securities |  |  | Unrealized Gains (Losses) on Derivatives |  |  |  | Retirement Plans |  | Total
Beginning balance, net of tax | $ | 84,716 |  |  |  | $ | (1,257) |  |  |  |  | $ | (23,754) |  |  | $ | 59,705 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications | (304,859) |  |  |  | 44,757 |  |  |  |  | 4,487 |  |  | (255,615) |
Reclassification adjustments included in net income | 8,787 |  |  |  | (3,638) |  |  |  |  | 895 |  |  | 6,044 |
Income tax (expense) benefit | 62,175 |  |  |  | (8,635) |  |  |  |  | (1,130) |  |  | 52,410 |
Net current-period other comprehensive income (loss), net of tax | (233,897) |  |  |  | 32,484 |  |  |  |  | 4,252 |  |  | (197,161) |
Ending balance, net of tax | $ | (149,181) |  |  |  | $ | 31,227 |  |  |  |  | $ | (19,502) |  |  | $ | (137,456) |
Reclassification out of Accumulated Other Comprehensive Income | The reclassification adjustments out of accumulated other comprehensive income (loss) included in net income are presented below (in thousands):
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Unrealized gains and losses on securities transferred: |  |  |  |  |  |
Amortization of unrealized gains and losses (1) |  | $ | (8,227) |  |  | $ | (8,004) |  |  | $ | (4,968) |
Tax (expense) benefit |  | 1,728 |  |  | 1,681 |  |  | 1,043 |
Net of tax |  | $ | (6,499) |  |  | $ | (6,323) |  |  | $ | (3,925) |
Unrealized gains and losses on AFS securities: |  |  |  |  |  |
Realized net gain (loss) on sale of securities (2) |  | $ | (2,510) |  |  | $ | (15,976) |  |  | $ | (3,819) |
Tax (expense) benefit |  | 527 |  |  | 3,355 |  |  | 802 |
Net of tax |  | $ | (1,983) |  |  | $ | (12,621) |  |  | $ | (3,017) |
Derivatives: |  |  |  |  |  |
Realized net gain (loss) on interest rate swap derivatives (3) |  | $ | 22,042 |  |  | $ | 24,544 |  |  | $ | 3,638 |
Tax (expense) benefit |  | (4,629) |  |  | (5,154) |  |  | (764) |
Net of tax |  | $ | 17,413 |  |  | $ | 19,390 |  |  | $ | 2,874 |
Amortization of retirement plans: |  |  |  |  |  |
Net actuarial loss (4) |  | $ | (629) |  |  | $ | (756) |  |  | $ | (895) |
Tax (expense) benefit |  | 132 |  |  | 159 |  |  | 188 |
Net of tax |  | $ | (497) |  |  | $ | (597) |  |  | $ | (707) |
Total reclassifications for the period, net of tax |  | $ | 8,434 |  |  | $ | (151) |  |  | $ | (4,775) |
(1) Included in interest income on the consolidated statements of income. (2) Listed as net gain (loss) on sale of securities AFS on the consolidated statements of income. (3) Included in interest expense for FHLB borrowings, other borrowings and deposits on the consolidated statements of income. (4) These AOCI components are included in the computation of net periodic pension cost (income) presented in “Note 10 – Employee Benefits.”

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