| 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 post-retirement 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, June 30, 2026 | | $ | (393,925) | | | $ | (57,638) | | | $ | (3,187) | | | $ | (11,123) | | | $ | (351) | | | $ | (466,224) | | | Other comprehensive loss | | (124,595) | | | — | | | — | | | — | | | (9) | | | (124,604) | | | Amounts reclassified from accumulated other comprehensive loss | | — | | | 3,028 | | | (87) | | | (9,579) | | | — | | | (6,638) | | | Net current-period other comprehensive (loss) income | | (124,595) | | | 3,028 | | | (87) | | | (9,579) | | | (9) | | | (131,242) | | | Balance, September 30, 2026 | | $ | (518,520) | | | $ | (54,610) | | | $ | (3,274) | | | $ | (20,702) | | | $ | (360) | | | $ | (597,466) | | | | | | | | | | | | | | | | Balance, June 30, 2025 | | $ | (445,064) | | | $ | (69,950) | | | $ | (3,937) | | | $ | (2,982) | | | $ | (223) | | | $ | (522,156) | | | Other comprehensive income (loss) | | 44,395 | | | — | | | 7 | | | (215) | | | (21) | | | 44,166 | | | Amounts reclassified from accumulated other comprehensive loss | | — | | | 3,370 | | | (69) | | | — | | | — | | | 3,301 | | | Net current-period other comprehensive income (loss) | | 44,395 | | | 3,370 | | | (62) | | | (215) | | | (21) | | | 47,467 | | | Balance, September 30, 2025 | | $ | (400,669) | | | $ | (66,580) | | | $ | (3,999) | | | $ | (3,197) | | | $ | (244) | | | $ | (474,689) | |
| | | | | | | | | | | | | | | | (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 | | (141,975) | | | — | | | (487) | | | — | | | (81) | | | (142,543) | | | Amounts reclassified from accumulated other comprehensive loss | | — | | | 8,799 | | | (263) | | | (17,912) | | | — | | | (9,376) | | | Net current-period other comprehensive (loss) income | | (141,975) | | | 8,799 | | | (750) | | | (17,912) | | | (81) | | | (151,919) | | | Balance, September 30, 2026 | | $ | (518,520) | | | $ | (54,610) | | | $ | (3,274) | | | $ | (20,702) | | | $ | (360) | | | $ | (597,466) | | | | | | | | | | | | | | | | Balance, December 31, 2024 | | $ | (537,789) | | | $ | (76,405) | | | $ | (3,815) | | | $ | (7,297) | | | $ | 429 | | | $ | (624,877) | | | Other comprehensive income (loss) | | 137,120 | | | — | | | 24 | | | 4,100 | | | (673) | | | 140,571 | | | Amounts reclassified from accumulated other comprehensive loss | | — | | | 9,825 | | | (208) | | | — | | | — | | | 9,617 | | | Net current-period other comprehensive income (loss) | | 137,120 | | | 9,825 | | | (184) | | | 4,100 | | | (673) | | | 150,188 | | | Balance, September 30, 2025 | | $ | (400,669) | | | $ | (66,580) | | | $ | (3,999) | | | $ | (3,197) | | | $ | (244) | | | $ | (474,689) | | | |
The unaudited Consolidated Statements of Income were impacted by components of other comprehensive income (loss) as shown in the tables below: | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 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 | | $ | 3,985 | | | $ | 4,433 | | | Net interest income | | Income taxes | | (957) | | | (1,063) | | | Income tax provision | | Net of tax | | 3,028 | | | 3,370 | | | | | Amortization of defined benefit post-retirement plan-related items: | | | | | | | Prior service credits | | (14) | | | (19) | | | | | | | | | | | | Actuarial gains | | (101) | | | (72) | | | | | Total before tax | | (115) | | | (91) | | | Salaries, benefits and other compensation | | Income taxes | | 28 | | | 22 | | | Income tax provision | | Net of tax | | (87) | | | (69) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net change in fair value of derivatives used for cash flow hedges: | | | | | | | | Net change in fair value during the period | | (12,604) | | | (283) | | | Net interest income | | Income taxes | | 3,025 | | | 68 | | | Income tax provision | | Net of tax | | (9,579) | | | (215) | | | | | Total reclassifications | | $ | (6,638) | | | $ | 3,086 | | | | | | | | | | | | | Nine Months Ended September 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 | | $ | 11,578 | | | $ | 12,927 | | | Net interest income | | Income taxes | | (2,779) | | | (3,102) | | | Income tax provision | | Net of tax | | 8,799 | | | 9,825 | | | | | Amortization of defined benefit post-retirement plan-related items: | | | | | | | Prior service credits | | (42) | | | (57) | | | | | | | | | | | | Actuarial gains | | (304) | | | (217) | | | | | Total before tax | | (346) | | | (274) | | | Salaries, benefits and other compensation | | Income taxes | | 83 | | | 66 | | | Income tax provision | | Net of tax | | (263) | | | (208) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net change in fair value of derivatives used for cash flow hedges: | | | | | | | | Net change in fair value during the period | | (23,568) | | | 5,395 | | | Net interest income | | Income taxes | | 5,656 | | | (1,295) | | | Income tax provision | | Net of tax | | (17,912) | | | 4,100 | | | | | Total reclassifications | | $ | (9,376) | | | $ | 13,717 | | | |
|