Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2024

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

15.   Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the years ended December 31, 2024 and 2023, is as follows:

	Accumulated Other Comprehensive Loss(1)
			Unrealized (losses)
			gains on
	Defined Benefit		available for sale
	Pension Plan		securities		Total
Balance at December 31, 2023	$	(3,421)	$	(26,077)	$	(29,498)
Other comprehensive gain before reclassifications		730		2,924		3,654
Amounts reclassified from accumulated other comprehensive loss		236		12,673		12,909
Period change		966		15,597		16,563
Balance at December 31, 2024	$	(2,455)	$	(10,480)	$	(12,935)
Balance at December 31, 2022	$	(3,998)	$	(28,191)	$	(32,189)
Other comprehensive loss before reclassifications		282		2,114		2,396
Amounts reclassified from accumulated other comprehensive loss		295		—		295
Period change		577		2,114		2,691
Balance at December 31, 2023	$	(3,421)	$	(26,077)	$	(29,498)

(1) All amounts are net of tax. Related income tax expense or benefit is calculated using an income tax rate of 21.0%.

Details about accumulated other comprehensive loss components are as follows:

	Amount Reclassified from
	Accumulated Other Comprehensive
	Income for the Year Ended				Affected Line Item in the Consolidated
	December 31,				Statement of Income
	2024		2023
Securities available for sale(1):
Net securities losses reclassified into earnings	$	(16,041)	$	—	Net realized loss on sales of securities
Related income tax expense		3,368		—	Provision for income taxes
Net effect on accumulated other comprehensive loss for the period		(12,673)		—
Defined benefit pension plan(2):
Amortization of net loss and prior service costs		(298)		(374)	Other non-interest expense
Related income tax expense		62		79	Provision for income taxes
Net effect on accumulated other comprehensive gain or loss for the period		(236)		(295)
Total reclassifications for the period	$	(12,909)	$	(295)

(1) For additional details related to unrealized gains and losses on securities and related amounts reclassified from accumulated other comprehensive loss see Note 2, “Available for Sale Securities.”

(2) Included in the computation of net periodic pension cost. See Note 9, “Employee Benefits” for additional details.