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Other Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2023
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 Year Ended
December 31,
2023
20222021
(In thousands)Pre-Tax
Amount
Tax (Expense)
Benefit
After-Tax
Amount
Pre-Tax
Amount
Tax (Expense)
Benefit
After-Tax
Amount
Pre-Tax
Amount
Tax (Expense)
Benefit
After-Tax
Amount
Debt Securities:
Change in fair value$13,646 $(2,932)$10,714 $(172,699)$37,131 $(135,568)$(38,832)$8,349 $(30,483)
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM
(6,781)1,458 (5,323)(5,715)1,229 (4,486)— — — 
Less: reclassification adjustment for net realized losses(1)
(10,310)2,217 (8,093)(912)196 (716)— — — 
Net change in fair value30,737 (6,607)24,130 (166,072)35,706 (130,366)(38,832)8,349 (30,483)
Cash Flow Hedges:
Change in fair value179 (38)141 10,038 (2,158)7,880 2,987 (642)2,345 
Less: reclassified AOCI gain (loss) into interest expense(2)
3,364 (723)2,641 263 (57)206 (2,254)485 (1,769)
Less: reclassified AOCI gain into interest income(3)
(3,446)741 (2,705)(1)1,614 (347)1,267 
Net change in fair value261 (56)205 9,770 (2,100)7,670 3,627 (780)2,847 
Postretirement Plans:
Net actuarial gain (loss)114 (25)89 2,859 (614)2,245 (20)(16)
Less: Amortization of net actuarial loss(4)
(1)(947)203 (744)(894)192 (702)
Less: Amortization of net prior service credits(4)
24 (5)19 24 (5)19 24 (5)19 
Net gain (loss) on postretirement plans87 (19)68 3,782 (812)2,970 850 (183)667 
Other comprehensive (loss) income$31,085 $(6,682)$24,403 $(152,520)$32,794 $(119,726)$(34,355)$7,386 $(26,969)
(1)    Reclassified into net loss on sale of securities in the consolidated statements of income. Refer to Note 2 of the consolidated financial statements for further details.
(2)    Reclassified into interest on deposits, borrowings and/or junior subordinated debentures on the consolidated statements of income. Refer to Note 12 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 12 of the consolidated financial statements for further details.
(4)    Reclassified into other expenses on the consolidated statements of income. Refer to Note 18 of the consolidated financial statements for further details.
The following table presents the changes in each component of AOCI for the periods indicated:
(In thousands)
Net Unrealized (Losses) Gains on Debt Securities(1)
Net Unrealized (Losses) Gains on Cash Flow Hedges(1)
Defined Benefit Postretirement Plans(1)
AOCI(1)
Balance at December 31, 2020$29,310 $(4,626)$(3,944)$20,740 
Other comprehensive income (loss) before reclassifications(30,483)2,345 — (28,138)
Less: Amounts reclassified from AOCI— (502)(667)(1,169)
Other comprehensive income (loss)(30,483)2,847 667 (26,969)
Balance at December 31, 2021(1,173)(1,779)(3,277)(6,229)
Other comprehensive income (loss) before reclassifications(126,596)7,880 — (118,716)
Less: Amounts reclassified from AOCI3,770 210 (2,970)1,010 
Other comprehensive income (loss)(130,366)7,670 2,970 (119,726)
Balance at December 31, 2022(131,539)5,891 (307)(125,955)
Other comprehensive (loss) income before reclassifications21,363 141 — 21,504 
Less: Amounts reclassified from AOCI(2,767)(64)(68)(2,899)
Other comprehensive (loss) income24,130 205 68 24,403 
Balance at December 31, 2023
$(107,409)$6,096 $(239)$(101,552)
(1)    All amounts are net of tax.