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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Before Tax Amount        
Income (loss) before tax amount $ 21,269 $ 25,986 $ 68,286 $ 67,578
Net unrealized gains (losses) on available-for-sale investment securities, before tax amount        
Net unrealized holding losses arising during the period (12,622) (18,093) (10,411) (53,798)
Reversal of provision for credit losses 0 (393) 397 370
Less: reclassification adjustment for net gains on sales realized in net income     0 (30)
Other comprehensive income (loss), securities, available-for-sale, adjustment, before tax (12,622) (18,486) (10,014) (53,458)
Net unrealized gains (losses) on interest rate swaps used in cash flow hedges, before tax amount        
Net unrealized holding losses arising during the period (2,541) (9,418) (6,716) (7,716)
Less: reclassification adjustment for net losses (gains) realized in net income (1) [1] 1,558 (422) 3,989 (1,040)
Total net unrealized losses on interest rate swaps used in cash flow hedges (983) (9,840) (2,727) (8,756)
Defined benefit pension plans, Before Tax Amount        
Amortization of net actuarial loss included in net periodic pension costs [2] 247 219 739 655
Total defined benefit pension plans 247 219 739 655
Other comprehensive income (loss), before tax amount (13,358) (28,107) (12,002) (61,559)
Total comprehensive income (loss), before tax amount 7,911 (2,121) 56,284 6,019
Tax Expense (Benefit)        
Income tax expense 4,253 5,185 13,436 13,294
Net unrealized gains (losses) on available-for-sale investment securities, tax expense (benefit)        
Other comprehensive income (loss), securities, available-for-sale, unrealized holding gain (loss) arising during period, tax (2,651) (3,800) (2,186) (11,298)
(Reversal of provision) provision for credit losses, tax 0 (82) 83 78
Less: reclassification adjustment for net gains on sales realized in net income     0 (6)
Total net unrealized losses on available-for-sale investment securities (2,651) (3,882) (2,103) (11,226)
Net unrealized gains (losses) on interest rate swaps used in cash flow hedges, tax expense (benefit)        
Net unrealized holding losses arising during the period (534) (1,978) (1,411) (1,621)
Less: reclassification adjustment for net losses (gains) realized in net income (1) [1] 327 (89) 838 (218)
Total net unrealized losses on interest rate swaps used in cash flow hedges (207) (2,067) (573) (1,839)
Defined benefit pension plans, tax expense (benefit)        
Amortization of net actuarial loss included in net periodic pension costs [2] 52 46 156 138
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, tax 52 46 156 138
Other comprehensive income (loss), tax expense (benefit) (2,806) (5,903) (2,520) (12,927)
Total comprehensive income (loss), tax expense (benefit) 1,447 (718) 10,916 367
Net of Tax Amount        
Net income 17,016 20,801 54,850 54,284
Net unrealized gains (losses) on available-for-sale investment securities, net of tax amount        
Net unrealized holding losses arising during the period (9,971) (14,293) (8,225) (42,500)
Reversal of provision for credit losses 0 311 (314) (292)
Less: reclassification adjustment for net gains on sales realized in net income     0 (24)
Other comprehensive income (loss), securities, available-for-sale, adjustment, after tax (9,971) (14,604) (7,911) (42,232)
Net unrealized gains (losses) on interest rate swaps used in cash flow hedges, net of tax amount        
Net unrealized holding losses arising during the period (2,007) (7,440) (5,305) (6,095)
Less: reclassification adjustment for net losses (gains) realized in net income (1) [1] 1,231 (333) 3,151 (822)
Total net unrealized losses on interest rate swaps used in cash flow hedges (776) (7,773) (2,154) (6,917)
Defined benefit pension plans, net of tax amount        
Amortization of net actuarial loss included in net periodic pension costs [2] 195 173 583 517
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, after tax 195 173 583 517
Other comprehensive income (loss), net of tax amount (10,552) (22,204) (9,482) (48,632)
Total comprehensive income (loss), net of tax amount $ 6,464 $ (1,403) $ 45,368 $ 5,652
[1] (1) Included in interest expense on demand deposits on the condensed consolidated statements of income (before tax amount).
[2]
(2) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost (before tax amount). See Note 8, "Retirement Plans and Other Postretirement Benefits" for additional details.
Note: See accompanying notes to the unaudited condensed consolidated financial statements.