Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The tax effect allocated to each component of other comprehensive income (loss) were as follows:

December 31, 2024	Before-Tax Amount		Tax (Expense) Benefit		Net of Tax
(In thousands)
Available-for-sale debt securities:
Change in net unrealized gain (loss) during the period	$	(3,709)	$	1,588	$	(2,121)
Reclassification adjustment for net realized gains on sale of available-for-sale debt securities included in net income	(50)		12		(38)
Net unrealized losses	(3,759)		1,600		(2,159)
Employee benefit plans:
Net retirement plan gain (losses)	10,240		(2,408)		7,832
Amortization of net retirement plan actuarial loss	915		(215)		700
Amortization of net retirement plan prior service cost	182		(42)		140
Employee benefit plans	11,337		(2,665)		8,672
Other comprehensive income (loss)	$	7,578	$	(1,065)	$	6,513

December 31, 2023	Before-Tax Amount		Tax (Expense) Benefit		Net of Tax
(In thousands)
Available-for-sale debt securities:
Change in net unrealized gain (loss) during the period	$	35,008	$	(8,578)	$	26,430
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income (loss)	69,984		(17,146)		52,838
Net unrealized gains/losses	104,992		(25,724)		79,268
Employee benefit plans:
Net retirement plan gain (loss)	4,516		(1,106)		3,410
Amortization of net retirement plan actuarial loss	1,116		(273)		843
Amortization of net retirement plan prior service cost	217		(54)		163
Employee benefit plans	5,849		(1,433)		4,416
Other comprehensive income (loss)	$	110,841	$	(27,157)	$	83,684

December 31, 2022	Before-Tax Amount		Tax (Expense) Benefit		Net of Tax
(In thousands)
Available-for-sale debt securities:
Change in net unrealized (loss) gain during the period	$	(229,463)	$	56,223	$	(173,240)
Reclassification adjustment for net realized gain on sale of available-for-sale debt securities included in net income	11,916		(2,919)		8,997
Net unrealized losses	(217,547)		53,304		(164,243)
Employee benefit plans:
Net retirement plan gain (loss)	12,761		(3,127)		9,634
Amortization of net retirement plan actuarial loss	2,260		(554)		1,706
Amortization of net retirement plan prior service cost	216		(52)		164
Employee benefit plans	15,237		(3,733)		$	11,504
Other comprehensive (loss) income	$	(202,310)	$	49,571	$	(152,739)

The following table presents the activity in our accumulated other comprehensive (loss) income for the periods indicated:

(In thousands)	Available-for- Sale Debt Securities		Employee Benefit Plans		Accumulated Other Comprehensive (Loss) Income
Balance at January 1, 2022	$	(14,560)	$	(41,390)	$	(55,950)
Other comprehensive (loss) income	(164,243)		11,504		(152,739)
Balance at December 31, 2022	$	(178,803)	$	(29,886)	$	(208,689)
Balance at January 1, 2023	(178,803)		(29,886)		(208,689)
Other comprehensive income (loss)	79,268		4,416		83,684
Balance at December 31, 2023	$	(99,535)	$	(25,470)	$	(125,005)
Balance at January 1, 2024	(99,535)		(25,470)		(125,005)
Other comprehensive (loss) income	(2,159)		8,672		6,513
Balance at December 31, 2024	$	(101,694)	$	(16,798)	$	(118,492)

December 31, 2024
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)	Amount Reclassified from Accumulated Other Comprehensive (Loss)1		Affected Line Item in the Statement Where Net Income is Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities	$	50	Net gain (loss) on securities transactions
	(12)		Income tax expense
	38		Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss	(915)		Other operating expense
Net retirement plan prior service cost	(182)		Other operating expense
	(1,097)		Total before tax
	257		Income tax expense
	$	(840)	Net of tax

December 31, 2023
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)	Amount Reclassified from Accumulated Other Comprehensive (Loss)1		Affected Line Item in the Statement Where Net Income is Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities	$	(69,984)	Net gain (loss) on securities transactions
	17,146		Tax expense
	(52,838)		Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss	(1,116)		Other operating expense
Net retirement plan prior service cost	(217)		Other operating expense
	(1,333)		Total before tax
	327		Tax benefit
	$	(1,006)	Net of tax

1 Amounts in parentheses indicate debits in income statement.

2 The accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost (See "Note 10 - Employee Benefit Plans").