| CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS |
15. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss includes unrealized gains and losses on available-for-sale investments, unrealized gains and losses on cash flow hedges, as well as unrecognized prior service costs and actuarial gains and losses on defined benefit pension plans. Changes to accumulated other comprehensive loss are presented, net of tax, as a component of stockholders’ equity. Amounts that are reclassified out of accumulated other comprehensive loss are recorded on the unaudited Consolidated Statements of Income either as a gain or loss. Changes to accumulated other comprehensive loss by component are shown, net of taxes, in the following tables for the period indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | | Net change in investment securities available-for-sale | | Net change in investment securities held-to-maturity | | Net change in defined benefit plan | | Net change in fair value of derivatives used for cash flow hedges | | Net change in equity method investments | | Total | | Balance, March 31, 2026 | | $ | (385,270) | | | $ | (60,542) | | | $ | (3,099) | | | $ | (4,882) | | | $ | (294) | | | $ | (454,087) | | | Other comprehensive loss | | (8,655) | | | — | | | — | | | — | | | (57) | | | (8,712) | | | Amounts reclassified from accumulated other comprehensive loss | | — | | | 2,904 | | | (88) | | | (6,241) | | | — | | | (3,425) | | | Net current-period other comprehensive (loss) income | | (8,655) | | | 2,904 | | | (88) | | | (6,241) | | | (57) | | | (12,137) | | | Balance, June 30, 2026 | | $ | (393,925) | | | $ | (57,638) | | | $ | (3,187) | | | $ | (11,123) | | | $ | (351) | | | $ | (466,224) | | | | | | | | | | | | | | | | Balance, March 31, 2025 | | $ | (467,752) | | | $ | (73,217) | | | $ | (3,876) | | | $ | (4,422) | | | $ | (207) | | | $ | (549,474) | | | Other comprehensive income (loss) | | 22,688 | | | — | | | 9 | | | — | | | (16) | | | 22,681 | | | Amounts reclassified from accumulated other comprehensive loss | | — | | | 3,267 | | | (70) | | | 1,440 | | | — | | | 4,637 | | | Net current-period other comprehensive income (loss) | | 22,688 | | | 3,267 | | | (61) | | | 1,440 | | | (16) | | | 27,318 | | | Balance, June 30, 2025 | | $ | (445,064) | | | $ | (69,950) | | | $ | (3,937) | | | $ | (2,982) | | | $ | (223) | | | $ | (522,156) | |
| | | | | | | | | | | | | | | | (Dollars in thousands) | | Net change in investment securities available-for-sale | | Net change in investment securities held-to-maturity | | Net change in defined benefit plan | | Net change in fair value of derivatives used for cash flow hedges | | Net change in equity method investments | | Total | | Balance, December 31, 2025 | | $ | (376,545) | | | $ | (63,409) | | | $ | (2,524) | | | $ | (2,790) | | | $ | (279) | | | $ | (445,547) | | | Other comprehensive (loss) income | | (17,380) | | | — | | | (488) | | | — | | | (72) | | | (17,940) | | | Amounts reclassified from accumulated other comprehensive loss | | — | | | 5,771 | | | (175) | | | (8,333) | | | — | | | (2,737) | | | Net current-period other comprehensive (loss) income | | (17,380) | | | 5,771 | | | (663) | | | (8,333) | | | (72) | | | (20,677) | | | Balance, June 30, 2026 | | $ | (393,925) | | | $ | (57,638) | | | $ | (3,187) | | | $ | (11,123) | | | $ | (351) | | | $ | (466,224) | | | | | | | | | | | | | | | | Balance, December 31, 2024 | | $ | (537,789) | | | $ | (76,405) | | | $ | (3,815) | | | $ | (7,297) | | | $ | 429 | | | $ | (624,877) | | | Other comprehensive income (loss) | | 92,725 | | | — | | | 17 | | | — | | | (652) | | | 92,090 | | | Amounts reclassified from accumulated other comprehensive loss | | — | | | 6,455 | | | (139) | | | 4,315 | | | — | | | 10,631 | | | Net current-period other comprehensive income (loss) | | 92,725 | | | 6,455 | | | (122) | | | 4,315 | | | (652) | | | 102,721 | | | Balance, June 30, 2025 | | $ | (445,064) | | | $ | (69,950) | | | $ | (3,937) | | | $ | (2,982) | | | $ | (223) | | | $ | (522,156) | | | |
The unaudited Consolidated Statements of Income were impacted by components of other comprehensive income (loss) as shown in the tables below: | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Affected line item in unaudited Consolidated Statements of Income | | (Dollars in thousands) | | 2026 | | 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity: | | | | | | | | Amortization of net unrealized losses to income during the period | | $ | 3,821 | | | $ | 4,299 | | | Net interest income | | Income taxes | | (917) | | | (1,032) | | | Income tax provision | | Net of tax | | 2,904 | | | 3,267 | | | | | Amortization of defined benefit pension plan-related items: | | | | | | | Prior service credits | | (14) | | | (19) | | | | | | | | | | | | Actuarial gains | | (102) | | | (73) | | | | | Total before tax | | (116) | | | (92) | | | Salaries, benefits and other compensation | | Income taxes | | 28 | | | 22 | | | Income tax provision | | Net of tax | | (88) | | | (70) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net change in fair value of derivatives used for cash flow hedges: | | | | | | | | Net change in fair value during the period | | (8,212) | | | 1,895 | | | Net interest income | | Income taxes | | 1,971 | | | (455) | | | Income tax provision | | Net of tax | | (6,241) | | | 1,440 | | | | | Total reclassifications | | $ | (3,425) | | | $ | 4,637 | | | | | | | | | | | | | Six Months Ended June 30, | | Affected line item in unaudited Consolidated Statements of Income | | | 2026 | | 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net unrealized holding losses on securities transferred between available-for-sale and held-to-maturity: | | | | | | | | Amortization of net unrealized losses to income during the period | | $ | 7,593 | | | $ | 8,494 | | | Net interest income | | Income taxes | | (1,822) | | | (2,039) | | | Income tax provision | | Net of tax | | 5,771 | | | 6,455 | | | | | Amortization of defined benefit pension plan-related items: | | | | | | | Prior service credits | | (28) | | | (38) | | | | | | | | | | | | Actuarial gains | | (203) | | | (145) | | | | | Total before tax | | (231) | | | (183) | | | Salaries, benefits and other compensation | | Income taxes | | 56 | | | 44 | | | Income tax provision | | Net of tax | | (175) | | | (139) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net change in fair value of derivatives used for cash flow hedges: | | | | | | | | Net change in fair value during the period | | (10,964) | | | 5,678 | | | Net interest income | | Income taxes | | 2,631 | | | (1,363) | | | Income tax provision | | Net of tax | | (8,333) | | | 4,315 | | | | | Total reclassifications | | $ | (2,737) | | | $ | 10,631 | | | |
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