Comprehensive Income/(Loss) (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The activity in accumulated other comprehensive income/(loss) for the three months ended March 31, 2023 and 2022 is as follows:

	Accumulated Other Comprehensive Income/(Loss) (1)
(unaudited, in thousands)	Defined Benefit Plans			Unrealized Gains (Losses) on Debt Securities Available-for-Sale			Total
Balance at December 31, 2022	$	(535	)	$	(261,881	)	$	(262,416	)
Other comprehensive loss before reclassifications		—			27,828			27,828
Amounts reclassified from accumulated other comprehensive loss		75			114			189
Period change		75			27,942			28,017
Balance at March 31, 2023	$	(460	)	$	(233,939	)	$	(234,399	)
Balance at December 31, 2021	$	(398	)	$	(4,722	)	$	(5,120	)
Other comprehensive loss before reclassifications		—			(106,247	)		(106,247	)
Amounts reclassified from accumulated other comprehensive loss		54			1			55
Period change		54			(106,246	)		(106,192	)
Balance at March 31, 2022	$	(344	)	$	(110,968	)	$	(111,312	)

(1)All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income

The following table provides details about amounts reclassified from accumulated other comprehensive income for the three months ended March 31, 2023 and 2022:

Details about Accumulated Other Comprehensive Income/(Loss) Components	For the Three Months Ended March 31,						Affected Line Item in the Statement of Comprehensive Income
(unaudited, in thousands)	2023			2022
Debt securities available-for-sale (1):
Net securities losses reclassified into earnings	$	151		$	2		Net securities gains (Non-interest income)
Related income tax benefit ⁽²⁾		(37	)		(1	)	Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		114			1
Defined benefit plans (3):
Amortization of net loss and prior service costs		98			72		Employee benefits (Non-interest expense)
Related income tax benefit ⁽²⁾		(23	)		(18	)	Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		75			54
Total reclassifications for the period	$	189		$	55

(1)For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 3, “Securities.”

(2)Income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

(3)Included in the computation of net periodic pension cost. See Note 6, “Benefit Plans” for additional detail.