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OTHER COMPREHENSIVE INCOME (LOSS) OTHER COMPREHENSIVE INCOME (LOSS) | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
OTHER COMPREHENSIVE INCOME (LOSS) | OTHER COMPREHENSIVE INCOME (LOSS) The following tables present a reconciliation of the changes in the components of other comprehensive income and loss for the periods indicated, including the amount of tax (expense) benefit allocated to each component:
|  | For the Three Months Ended
|  | September 30, 2022 |  | September 30, 2021
(In thousands) |  | Pre-Tax Amount |  | Tax (Expense) Benefit |  | After-Tax Amount |  | Pre-Tax Amount |  | Tax (Expense) Benefit |  | After-Tax Amount
Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value |  | $ | (28,432) |  |  | $ | 6,113 |  |  | $ | (22,319) |  |  | $ | (6,546) |  |  | $ | 1,407 |  |  | $ | (5,139) |
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM(1) |  | 2,436 |  |  | (524) |  |  | 1,912 |  |  | — |  |  | — |  |  | — |
Net change in fair value |  | (30,868) |  |  | 6,637 |  |  | (24,231) |  |  | (6,546) |  |  | 1,407 |  |  | (5,139) |
Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value |  | 3,381 |  |  | (727) |  |  | 2,654 |  |  | 466 |  |  | (100) |  |  | 366 |
Less: reclassified AOCI loss into interest expense(2) |  | 241 |  |  | (52) |  |  | 189 |  |  | (539) |  |  | 116 |  |  | (423) |
Less: reclassified AOCI gain into interest income(3) |  | (121) |  |  | 26 |  |  | (95) |  |  | 410 |  |  | (88) |  |  | 322 |
Net change in fair value |  | 3,261 |  |  | (701) |  |  | 2,560 |  |  | 595 |  |  | (128) |  |  | 467 |
Postretirement Plans: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of settlement recognition of net loss and prior service credit(4) |  | 230 |  |  | (49) |  |  | 181 |  |  | 217 |  |  | (46) |  |  | 171 |
Other comprehensive loss |  | $ | (27,377) |  |  | $ | 5,887 |  |  | $ | (21,490) |  |  | $ | (5,734) |  |  | $ | 1,233 |  |  | $ | (4,501) |
(1) Reclassified into taxable interest on investments and/or nontaxable interest on investments in the consolidated statements of income. Refer to Note 3 of the consolidated financial statements for further details. (2) Reclassified into interest on deposits, borrowings and/or subordinated debentures on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details. (3) Reclassified into interest and fees on loans on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details. (4) Reclassified into other expenses on the consolidated statements of income. Refer to Note 13 of the consolidated financial statements for further details.
|  | For the Nine Months Ended
|  | September 30, 2022 |  | September 30, 2021
(In thousands) |  | Pre-Tax Amount |  | Tax (Expense) Benefit |  | After-Tax Amount |  | Pre-Tax Amount |  | Tax (Expense) Benefit |  | After-Tax Amount
Debt Securities: |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value |  | $ | (173,421) |  |  | $ | 37,286 |  |  | $ | (136,135) |  |  | $ | (25,926) |  |  | $ | 5,574 |  |  | $ | (20,352) |
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM(1) |  | 3,780 |  |  | (813) |  |  | 2,967 |  |  | — |  |  | — |  |  | — |
Less: reclassification adjustment for net realized losses(2) |  | (9) |  |  | 2 |  |  | (7) |  |  | — |  |  | — |  |  | — |
Net change in fair value |  | (177,192) |  |  | 38,097 |  |  | (139,095) |  |  | (25,926) |  |  | 5,574 |  |  | (20,352) |
Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value |  | 10,604 |  |  | (2,280) |  |  | 8,324 |  |  | 3,655 |  |  | (785) |  |  | 2,870 |
Less: reclassified AOCI loss into interest expense(3) |  | (498) |  |  | 107 |  |  | (391) |  |  | (1,712) |  |  | 368 |  |  | (1,344) |
Less: reclassified AOCI gain into interest income(4) |  | 498 |  |  | (107) |  |  | 391 |  |  | 1,205 |  |  | (258) |  |  | 947 |
Net change in fair value |  | 10,604 |  |  | (2,280) |  |  | 8,324 |  |  | 4,162 |  |  | (895) |  |  | 3,267 |
Postretirement Plans: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of settlement recognition of net loss and prior service credit(5) |  | 693 |  |  | (149) |  |  | 544 |  |  | 652 |  |  | (140) |  |  | 512 |
Other comprehensive loss |  | $ | (165,895) |  |  | $ | 35,668 |  |  | $ | (130,227) |  |  | $ | (21,112) |  |  | $ | 4,539 |  |  | $ | (16,573) |
(1) Reclassified into taxable interest on investments and/or nontaxable interest on investments in the consolidated statements of income. Refer to Note 3 of the consolidated financial statements for further details. (2) Reclassified into net loss on sale of securities in the consolidated statements of income. Refer to Note 3 of the consolidated financial statements for further details. (3) Reclassified into interest on deposits, borrowings and/or subordinated debentures on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details. (4) Reclassified into interest and fees on loans on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details. (5) Reclassified into other expenses on the consolidated statements of income. Refer to Note 13 of the consolidated financial statements for further details. The following table presents the changes in each component of AOCI, after tax, for the periods indicated:
(In thousands) |  | Net Unrealized Gains (Losses) on Debt Securities |  | Net Unrealized Losses (Gains) on Cash Flow Hedges |  | Defined Benefit Postretirement Plans |  | AOCI
At or For the Three Months Ended September 30, 2022 |  |  |  |  |  |  |  |
Balance at June 30, 2022 |  | $ | (116,037) |  |  | $ | 3,985 |  |  | $ | (2,914) |  |  | $ | (114,966) |
Other comprehensive (loss) income before reclassifications |  | (22,319) |  |  | 2,654 |  |  | — |  |  | (19,665) |
Less: Amounts reclassified from AOCI |  | 1,912 |  |  | 94 |  |  | (181) |  |  | 1,825 |
Other comprehensive (loss) income |  | (24,231) |  |  | 2,560 |  |  | 181 |  |  | (21,490) |
Balance at September 30, 2022 |  | $ | (140,268) |  |  | $ | 6,545 |  |  | $ | (2,733) |  |  | $ | (136,456) |
At or For the Nine Months Ended September 30, 2022 |  |  |  |  |  |  |  |
Balance at December 31, 2021 |  | $ | (1,173) |  |  | $ | (1,779) |  |  | $ | (3,277) |  |  | $ | (6,229) |
Other comprehensive (loss) income before reclassifications |  | (136,135) |  |  | 8,324 |  |  | — |  |  | (127,811) |
Less: Amounts reclassified from AOCI |  | 2,960 |  |  | — |  |  | (544) |  |  | 2,416 |
Other comprehensive (loss) income |  | (139,095) |  |  | 8,324 |  |  | 544 |  |  | (130,227) |
Balance at September 30, 2022 |  | $ | (140,268) |  |  | $ | 6,545 |  |  | $ | (2,733) |  |  | $ | (136,456) |
At or For the Three Months Ended September 30, 2021 |  |  |  |  |  |  |  |
Balance at June 30, 2021 |  | $ | 14,097 |  |  | $ | (1,826) |  |  | $ | (3,603) |  |  | $ | 8,668 |
Other comprehensive (loss) income before reclassifications |  | (5,139) |  |  | 366 |  |  | — |  |  | (4,773) |
Less: Amounts reclassified from AOCI |  | — |  |  | (101) |  |  | (171) |  |  | (272) |
Other comprehensive (loss) income |  | (5,139) |  |  | 467 |  |  | 171 |  |  | (4,501) |
Balance at September 30, 2021 |  | $ | 8,958 |  |  | $ | (1,359) |  |  | $ | (3,432) |  |  | $ | 4,167 |
At or For the Nine Months Ended September 30, 2021 |  |  |  |  |  |  |  |
Balance at December 31, 2020 |  | $ | 29,310 |  |  | $ | (4,626) |  |  | $ | (3,944) |  |  | $ | 20,740 |
Other comprehensive (loss) income before reclassifications |  | (20,352) |  |  | 2,870 |  |  | — |  |  | (17,482) |
Less: Amounts reclassified from AOCI |  | — |  |  | (397) |  |  | (512) |  |  | (909) |
Other comprehensive (loss) income |  | (20,352) |  |  | 3,267 |  |  | 512 |  |  | (16,573) |
Balance at September 30, 2021 |  | $ | 8,958 |  |  | $ | (1,359) |  |  | $ | (3,432) |  |  | $ | 4,167 |

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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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