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OTHER COMPREHENSIVE INCOME (LOSS) OTHER COMPREHENSIVE INCOME (LOSS)
9 Months Ended
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, 2022September 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 $(5,139)
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM(1)
2,436 (524)1,912 — — — 
Net change in fair value(30,868)6,637 (24,231)(6,546)1,407 (5,139)
Cash Flow Hedges:
Change in fair value3,381 (727)2,654 466 (100)366 
Less: reclassified AOCI loss into interest expense(2)
241 (52)189 (539)116 (423)
Less: reclassified AOCI gain into interest income(3)
(121)26 (95)410 (88)322 
Net change in fair value3,261 (701)2,560 595 (128)467 
Postretirement Plans:
Amortization of settlement recognition of net loss and prior service credit(4)
230 (49)181 217 (46)171 
Other comprehensive loss$(27,377)$5,887 $(21,490)$(5,734)$1,233 $(4,501)
(1) Reclassified into taxable interest on investments and/or nontaxable interest on investments in the consolidated statements of income. Refer to Note 3 of the consolidated financial statements for further details.
(2) Reclassified into interest on deposits, borrowings and/or subordinated debentures on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details.
(3)    Reclassified into interest and fees on loans on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details.
(4)    Reclassified into other expenses on the consolidated statements of income. Refer to Note 13 of the consolidated financial statements for further details.
For the Nine Months Ended
September 30, 2022September 30, 2021
(In thousands)Pre-Tax
Amount
Tax (Expense)
Benefit
After-Tax
Amount
Pre-Tax
Amount
Tax (Expense)
Benefit
After-Tax
Amount
Debt Securities:
Change in fair value$(173,421)$37,286 $(136,135)$(25,926)$5,574 $(20,352)
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM(1)
3,780 (813)2,967 — — — 
Less: reclassification adjustment for net realized losses(2)
(9)(7)— — — 
Net change in fair value(177,192)38,097 (139,095)(25,926)5,574 (20,352)
Cash Flow Hedges:
Change in fair value10,604 (2,280)8,324 3,655 (785)2,870 
Less: reclassified AOCI loss into interest expense(3)
(498)107 (391)(1,712)368 (1,344)
Less: reclassified AOCI gain into interest income(4)
498 (107)391 1,205 (258)947 
Net change in fair value10,604 (2,280)8,324 4,162 (895)3,267 
Postretirement Plans:
Amortization of settlement recognition of net loss and prior service credit(5)
693 (149)544 652 (140)512 
Other comprehensive loss$(165,895)$35,668 $(130,227)$(21,112)$4,539 $(16,573)
(1) Reclassified into taxable interest on investments and/or nontaxable interest on investments in the consolidated statements of income. Refer to Note 3 of the consolidated financial statements for further details.
(2)    Reclassified into net loss on sale of securities in the consolidated statements of income. Refer to Note 3 of the consolidated financial statements for further details.
(3) Reclassified into interest on deposits, borrowings and/or subordinated debentures on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details.
(4)    Reclassified into interest and fees on loans on the consolidated statements of income. Refer to Note 8 of the consolidated financial statements for further details.
(5)    Reclassified into other expenses on the consolidated statements of income. Refer to Note 13 of the consolidated financial statements for further details.
The following table presents the changes in each component of AOCI, after tax, for the periods indicated:
(In thousands)Net Unrealized Gains (Losses) on Debt SecuritiesNet Unrealized Losses (Gains) on Cash Flow HedgesDefined Benefit Postretirement PlansAOCI
At or For the Three Months Ended September 30, 2022
Balance at June 30, 2022$(116,037)$3,985 $(2,914)$(114,966)
Other comprehensive (loss) income before reclassifications(22,319)2,654 — (19,665)
Less: Amounts reclassified from AOCI1,912 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 AOCI2,960 — (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