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OTHER COMPREHENSIVE INCOME (LOSS) OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of of 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, 2023																		September 30, 2022
(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						$	(18,115)					$	3,895					$	(14,220)					$	(28,432)					$	6,113					$	(22,319)
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM(1)						1,742						(375)						1,367						2,436						(524)						1,912
Less: reclassification adjustment for net realized losses(2)						(5,335)						1,147						(4,188)						—						—						—
Net change in fair value						(14,522)						3,123						(11,399)						(30,868)						6,637						(24,231)
Cash Flow Hedges:
Change in fair value						3,950						(849)						3,101						3,381						(727)						2,654
Less: reclassified AOCI gain (loss) into interest expense(3)						872						(187)						685						241						(52)						189
Less: reclassified AOCI (loss) gain into interest income(4)						(909)						195						(714)						(121)						26						(95)
Net change in fair value						3,987						(857)						3,130						3,261						(701)						2,560
Postretirement Plans:
Amortization of settlement recognition of net loss and prior service credit(5)						(6)						1						(5)						230						(49)						181
Other comprehensive loss						$	(10,541)					$	2,267					$	(8,274)					$	(27,377)					$	5,887					$	(21,490)

(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.

						For the Nine Months Ended
						September 30, 2023																		September 30, 2022
(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						$	(9,993)					$	2,149					$	(7,844)					$	(173,421)					$	37,286					$	(136,135)
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM(1)						5,137						(1,104)						4,033						3,780						(813)						2,967
Less: reclassification adjustment for net realized losses(2)						(5,335)						1,147						(4,188)						(9)						2						(7)
Net change in fair value						(9,795)						2,106						(7,689)						(177,192)						38,097						(139,095)
Cash Flow Hedges:
Change in fair value						4,427						(951)						3,476						10,604						(2,280)						8,324
Less: reclassified AOCI gain (loss) into interest expense(3)						2,518						(541)						1,977						(498)						107						(391)
Less: reclassified AOCI (loss) gain into interest income(4)						(2,488)						535						(1,953)						498						(107)						391
Net change in fair value						4,397						(945)						3,452						10,604						(2,280)						8,324
Postretirement Plans:
Amortization of settlement recognition of net loss and prior service credit(5)						(20)						4						(16)						693						(149)						544
Other comprehensive loss						$	(5,418)					$	1,165					$	(4,253)					$	(165,895)					$	35,668					$	(130,227)

(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.

Schedule of Accumulated Other Comprehensive Income (Loss)

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(1)						Net Unrealized (Losses) Gains on Cash Flow Hedges(1)						Defined Benefit Postretirement Plans(1)						AOCI(1)
At or For the Three Months Ended September 30, 2023
Balance at June 30, 2023						$	(127,829)					$	6,213					$	(318)					$	(121,934)
Other comprehensive (loss) income before reclassifications						(14,220)						3,101						—						(11,119)
Less: Amounts reclassified from AOCI						(2,821)						(29)						5						(2,845)
Other comprehensive (loss) income						(11,399)						3,130						(5)						(8,274)
Balance at September 30, 2023						$	(139,228)					$	9,343					$	(323)					$	(130,208)
At or For the Nine Months Ended September 30, 2023
Balance at December 31, 2022						$	(131,539)					$	5,891					$	(307)					$	(125,955)
Other comprehensive (loss) income before reclassifications						(7,844)						3,476						—						(4,368)
Less: Amounts reclassified from AOCI						(155)						24						16						(115)
Other comprehensive (loss) income						(7,689)						3,452						(16)						(4,253)
Balance at September 30, 2023						$	(139,228)					$	9,343					$	(323)					$	(130,208)
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)

(1)    All amounts are net of tax.

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

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-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

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Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

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-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 1
-Section 45
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-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1

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