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OTHER COMPREHENSIVE INCOME (LOSS) OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended
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Sep. 30, 2024
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, 2024 |  | September 30, 2023
(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 |  | $ | 22,412 |  |  | $ | (4,819) |  |  | $ | 17,593 |  |  | $ | (18,115) |  |  | $ | 3,895 |  |  | $ | (14,220) |
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM |  | (1,739) |  |  | 373 |  |  | (1,366) |  |  | 1,742 |  |  | (375) |  |  | 1,367 |
Less: reclassification adjustment for net realized losses(1) |  | — |  |  | — |  |  | — |  |  | (5,335) |  |  | 1,147 |  |  | (4,188) |
Net change in fair value |  | 24,151 |  |  | (5,192) |  |  | 18,959 |  |  | (14,522) |  |  | 3,123 |  |  | (11,399) |
Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value |  | (4,956) |  |  | 1,066 |  |  | (3,890) |  |  | 3,950 |  |  | (849) |  |  | 3,101 |
Less: reclassified AOCI gain into interest expense(2) |  | 1,185 |  |  | (254) |  |  | 931 |  |  | 872 |  |  | (187) |  |  | 685 |
Less: reclassified AOCI (loss) gain into interest income(3) |  | — |  |  | — |  |  | — |  |  | (909) |  |  | 195 |  |  | (714) |
Net change in fair value |  | (6,141) |  |  | 1,320 |  |  | (4,821) |  |  | 3,987 |  |  | (857) |  |  | 3,130 |
Postretirement Plans: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of settlement recognition of net loss and prior service credit(4) |  | (8) |  |  | 2 |  |  | (6) |  |  | (6) |  |  | 1 |  |  | (5) |
Other comprehensive gain (loss) |  | $ | 18,002 |  |  | $ | (3,870) |  |  | $ | 14,132 |  |  | $ | (10,541) |  |  | $ | 2,267 |  |  | $ | (8,274) |
(1) Reclassified into net loss on sale of securities in the consolidated statements of income. Refer to Note 4 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 9 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 9 of the consolidated financial statements for further details. (4) Reclassified into other expenses on the consolidated statements of income. Refer to Note 14 of the consolidated financial statements for further details.
|  | For the Nine Months Ended
|  | September 30, 2024 |  | September 30, 2023
(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 |  | $ | 15,572 |  |  | $ | (3,348) |  |  | $ | 12,224 |  |  | $ | (9,993) |  |  | $ | 2,149 |  |  | $ | (7,844) |
Less: reclassification adjustment for amortization of securities transferred from AFS to HTM |  | (4,886) |  |  | 1,050 |  |  | (3,836) |  |  | 5,137 |  |  | (1,104) |  |  | 4,033 |
Less: reclassification adjustment for net realized losses(1) |  | — |  |  | — |  |  | — |  |  | (5,335) |  |  | 1,147 |  |  | (4,188) |
Net change in fair value |  | 20,458 |  |  | (4,398) |  |  | 16,060 |  |  | (9,795) |  |  | 2,106 |  |  | (7,689) |
Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value |  | (666) |  |  | 143 |  |  | (523) |  |  | 4,427 |  |  | (951) |  |  | 3,476 |
Less: reclassified AOCI gain (loss) into interest expense(2) |  | 3,035 |  |  | (652) |  |  | 2,383 |  |  | 2,518 |  |  | (541) |  |  | 1,977 |
Less: reclassified AOCI (loss) gain into interest income(3) |  | (1,676) |  |  | 360 |  |  | (1,316) |  |  | (2,488) |  |  | 535 |  |  | (1,953) |
Net change in fair value |  | (2,025) |  |  | 435 |  |  | (1,590) |  |  | 4,397 |  |  | (945) |  |  | 3,452 |
Postretirement Plans: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of settlement recognition of net loss and prior service credit(4) |  | (22) |  |  | 5 |  |  | (17) |  |  | (20) |  |  | 4 |  |  | (16) |
Other comprehensive income |  | $ | 18,411 |  |  | $ | (3,958) |  |  | $ | 14,453 |  |  | $ | (5,418) |  |  | $ | 1,165 |  |  | $ | (4,253) |
(1) Reclassified into net loss on sale of securities in the consolidated statements of income. Refer to Note 4 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 9 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 9 of the consolidated financial statements for further details. (4) Reclassified into other expenses on the consolidated statements of income. Refer to Note 14 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 Gains (Losses) on Cash Flow Hedges(1) |  | Defined Benefit Postretirement Plans(1) |  | AOCI(1)
As of or For the Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |
Balance at June 30, 2024 |  | $ | (110,308) |  |  | $ | 9,327 |  |  | $ | (250) |  |  | $ | (101,231) |
Other comprehensive (loss) income before reclassifications |  | 17,593 |  |  | (3,890) |  |  | — |  |  | 13,703 |
Less: Amounts reclassified from AOCI |  | (1,366) |  |  | 931 |  |  | 6 |  |  | (429) |
Other comprehensive income (loss) |  | 18,959 |  |  | (4,821) |  |  | (6) |  |  | 14,132 |
Balance at September 30, 2024 |  | $ | (91,349) |  |  | $ | 4,506 |  |  | $ | (256) |  |  | $ | (87,099) |
As of or For the Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |
Balance at December 31, 2023 |  | $ | (107,409) |  |  | $ | 6,096 |  |  | $ | (239) |  |  | $ | (101,552) |
Other comprehensive (loss) income before reclassifications |  | 12,224 |  |  | (523) |  |  | — |  |  | 11,701 |
Less: Amounts reclassified from AOCI |  | (3,836) |  |  | 1,067 |  |  | 17 |  |  | (2,752) |
Other comprehensive (loss) income |  | 16,060 |  |  | (1,590) |  |  | (17) |  |  | 14,453 |
Balance at September 30, 2024 |  | $ | (91,349) |  |  | $ | 4,506 |  |  | $ | (256) |  |  | $ | (87,099) |
As of 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) |
As of or For the Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |
Balance at December 31, 2022 |  | $ | (131,539) |  |  | $ | 5,891 |  |  | $ | (307) |  |  | $ | (125,955) |
Other comprehensive income before reclassifications |  | (7,844) |  |  | 3,476 |  |  | — |  |  | (4,368) |
Less: Amounts reclassified from AOCI |  | (155) |  |  | 24 |  |  | 16 |  |  | (115) |
Other comprehensive income (loss) |  | (7,689) |  |  | 3,452 |  |  | (16) |  |  | (4,253) |
Balance at September 30, 2023 |  | $ | (139,228) |  |  | $ | 9,343 |  |  | $ | (323) |  |  | $ | (130,208) |
(1) All amounts are net of tax.

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