| Accumulated Other Comprehensive Income |
Accumulated Other Comprehensive Income The following table provides the change in AOCI by component: | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Cash Flow Hedges | | Available-for-Sale Securities | | Held-to-Maturity Securities | | Total | | Three Months Ended June 30, 2024 | | | | | | | | | Beginning balance | $ | (53,544) | | | $ | (285,238) | | | $ | (41,104) | | | $ | (379,886) | | | Change in unrealized gain/(loss) | (8,738) | | | (5,201) | | | — | | | (13,939) | | | Amounts reclassified into net income | 18,114 | | | — | | | 1,711 | | | 19,825 | | | Total other comprehensive income/(loss) | 9,376 | | | (5,201) | | | 1,711 | | | 5,886 | | | Income tax expense/(benefit) | 1,047 | | | (6,880) | | | (435) | | | (6,268) | | | Total other comprehensive income/(loss), net of tax | 8,329 | | | 1,679 | | | 2,146 | | | 12,154 | | | Ending balance | $ | (45,215) | | | $ | (283,559) | | | $ | (38,958) | | | $ | (367,732) | | | Three Months Ended June 30, 2023 | | | | | | | | | Beginning balance | $ | (46,916) | | | $ | (281,063) | | | $ | (46,783) | | | $ | (374,762) | | | Change in unrealized gain/(loss) | (59,057) | | | (40,674) | | | — | | | (99,731) | | | Amounts reclassified into net income | 14,919 | | | — | | | 1,843 | | | 16,762 | | | Total other comprehensive income/(loss) | (44,138) | | | (40,674) | | | 1,843 | | | (82,969) | | | Income tax expense/(benefit) | (9,269) | | | (8,541) | | | 387 | | | (17,423) | | | Total other comprehensive income/(loss), net of tax | (34,869) | | | (32,133) | | | 1,456 | | | (65,546) | | | Ending balance | $ | (81,785) | | | $ | (313,196) | | | $ | (45,327) | | | $ | (440,308) | | | | | | | | | | | Six Months Ended June 30, 2024 | | | | | | | | | Beginning balance | $ | (45,749) | | | $ | (273,806) | | | $ | (42,449) | | | $ | (362,004) | | | Change in unrealized gain/(loss) | (36,611) | | | (19,671) | | | — | | | (56,282) | | | Amounts reclassified into net income | 36,120 | | | — | | | 3,413 | | | 39,533 | | | Total other comprehensive income/(loss) | (491) | | | (19,671) | | | 3,413 | | | (16,749) | | | Income tax expense/(benefit) | (1,025) | | | (9,918) | | | (78) | | | (11,021) | | | Total other comprehensive income/(loss), net of tax | 534 | | | (9,753) | | | 3,491 | | | (5,728) | | | Ending balance | $ | (45,215) | | | $ | (283,559) | | | $ | (38,958) | | | $ | (367,732) | | | Six Months Ended June 30, 2023 | | | | | | | | | Beginning balance | $ | (66,394) | | | $ | (304,309) | | | $ | (48,240) | | | $ | (418,943) | | | Change in unrealized gain/(loss) | (45,529) | | | (11,249) | | | — | | | (56,778) | | | Amounts reclassified into net income | 26,048 | | | — | | | 3,687 | | | 29,735 | | | Total other comprehensive income/(loss) | (19,481) | | | (11,249) | | | 3,687 | | | (27,043) | | | Income tax expense/(benefit) | (4,090) | | | (2,362) | | | 774 | | | (5,678) | | | Total other comprehensive income/(loss), net of tax | (15,391) | | | (8,887) | | | 2,913 | | | (21,365) | | | Ending balance | $ | (81,785) | | | $ | (313,196) | | | $ | (45,327) | | | $ | (440,308) | |
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