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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following is a summary of the accumulated comprehensive income (loss) balances, net of income taxes:
Balance as of January 1, 2024
Current
Period
Change
Income Tax
Effect
Balance as of March 31, 2024
(In thousands)
Unrealized gains (losses) on benefits plans$(1,481)$43 $(11)$(1,449)
Unrealized gains (losses) on available for sale securities(74,348)9,176 (2,508)(67,680)
Unaccreted unrealized loss on securities transferred to held-to-maturity(10,175)595 (163)(9,743)
Total$(86,004)$9,814 $(2,682)$(78,872)
Balance as of January 1, 2023
Current
Period
Change
Income Tax
Effect
Balance as of March 31, 2023
(In thousands)
Unrealized gains (losses) on benefits plans$(1,652)$48 $(13)$(1,617)
Unrealized gains (losses) on available for sale securities(95,539)15,185 (4,184)(84,538)
Unaccreted unrealized loss on securities transferred to held-to-maturity(11,516)488 (134)(11,162)
Total$(108,707)$15,721 $(4,331)$(97,317)
Other comprehensive income (loss) components and related income tax effects were as follows:
Three Months Ended
March 31,
20242023
(In thousands)
Postretirement Benefit Plans
Change in obligation for postretirement benefits and for prior service credit$36 $40 
Reclassification adjustment for prior service expense included in compensation and employee benefits
Change in obligation for other benefits— 
Change in total obligation for postretirement benefits and for prior service credit and for other benefits43 48 
Income tax expense(11)(13)
Net change in total obligation for postretirement benefits and prior service credit and for other benefits32 35 
Securities
Unrealized holding gains on available for sale securities
6,402 12,099 
Reclassification adjustment for losses realized in loss on sale of securities
2,774 3,086 
Accretion of net unrealized loss on securities transferred to held-to-maturity recognized in interest income from securities595 488 
Change in unrealized gains on available for sale securities
9,771 15,673 
Income tax expense
(2,671)(4,318)
Net change in unrealized gains on securities
7,100 11,355 
Total$7,132 $11,390