Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2024

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Components of Other Comprehensive Income

The following table presents the components of other comprehensive income (loss) for the three and six months ended June 30, 2024 and June 30, 2023:

(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Three Months Ended June 30, 2024
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	6,022		$	1,595		$	4,427
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)    that (Increase) Decrease Net Income:
Amortization of Unrealized Holding (Gains) Losses on Held-to-    Maturity Securities 1		6,294			1,669			4,625
Net Unrealized Gains (Losses) on Investment Securities		12,316			3,264			9,052
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		291			78			213
Amortization of Prior Service Credit		(61	)		(16	)		(45	)
Defined Benefit Plans, Net		230			62			168
Other Comprehensive Income (Loss)	$	12,546		$	3,326		$	9,220
Three Months Ended June 30, 2023
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	(31,586	)	$	(8,371	)	$	(23,215	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)    that (Increase) Decrease Net Income:
Amortization of Unrealized Holding (Gains) Losses on Held-to-    Maturity Securities 1		6,801			1,803			4,998
Net Unrealized Gains (Losses) on Investment Securities		(24,785	)		(6,568	)		(18,217	)
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		177			46			131
Amortization of Prior Service Credit		(62	)		(15	)		(47	)
Defined Benefit Plans, Net		115			31			84
Other Comprehensive Income (Loss)	$	(24,670	)	$	(6,537	)	$	(18,133	)
Six Months Ended June 30, 2024
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	17,426		$	4,619		$	12,807
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)    that (Increase) Decrease Net Income:
Amortization of Unrealized Holding (Gains) Losses on Held-to-    Maturity Securities 1		12,496			3,313			9,183
Net Unrealized Gains (Losses) on Investment Securities		29,922			7,932			21,990
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		582			155			427
Amortization of Prior Service Credit		(122	)		(32	)		(90	)
Defined Benefit Plans, Net		460			123			337
Other Comprehensive Income (Loss)	$	30,382		$	8,055		$	22,327
Six Months Ended June 30, 2023
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	1,332		$	352		$	980
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)    that (Increase) Decrease Net Income:
Amortization of Unrealized Holding (Gains) Losses on Held-to-    Maturity Securities 1		13,714			3,635			10,079
Net Unrealized Gains (Losses) on Investment Securities		15,046			3,987			11,059
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		352			93			259
Amortization of Prior Service Credit		(123	)		(32	)		(91	)
Defined Benefit Plans, Net		229			61			168
Other Comprehensive Income (Loss)	$	15,275		$	4,048		$	11,227

1 These amounts relate to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available-for-sale investment securities to the held-to-maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2024, and June 30, 2023:

(dollars in thousands)	Investment Securities- Available- for-Sale			Investment Securities- Held-to-Maturity			Defined Benefit Plans			Accumulated Other Comprehensive Income (Loss)
Three Months Ended June 30, 2024
Balance at Beginning of Period	$	(216,027	)	$	(144,463	)	$	(23,091	)	$	(383,581	)
Other Comprehensive Income (Loss) Before Reclassifications		4,427			—			—			4,427
Amounts Reclassified from Accumulated Other    Comprehensive Income (Loss)		—			4,625			168			4,793
Total Other Comprehensive Income (Loss)		4,427			4,625			168			9,220
Balance at End of Period	$	(211,600	)	$	(139,838	)	$	(22,923	)	$	(374,361	)
Three Months Ended June 30, 2023
Balance at Beginning of Period	$	(216,588	)	$	(163,716	)	$	(24,994	)		(405,298	)
Other Comprehensive Income (Loss) Before Reclassifications		(23,215	)		—			—			(23,215	)
Amounts Reclassified from Accumulated Other    Comprehensive Income (Loss)		—			4,998			84			5,082
Total Other Comprehensive Income (Loss)		(23,215	)		4,998			84			(18,133	)
Balance at End of Period	$	(239,803	)	$	(158,718	)	$	(24,910	)	$	(423,431	)
Six Months Ended June 30, 2024
Balance at Beginning of Period	$	(224,407	)	$	(149,021	)	$	(23,260	)	$	(396,688	)
Other Comprehensive Income (Loss) Before Reclassifications		12,807			—			—			12,807
Amounts Reclassified from Accumulated Other    Comprehensive Income (Loss)		—			9,183			337			9,520
Total Other Comprehensive Income (Loss)		12,807			9,183			337			22,327
Balance at End of Period	$	(211,600	)	$	(139,838	)	$	(22,923	)	$	(374,361	)
Six Months Ended June 30, 2023
Balance at Beginning of Period	$	(240,783	)	$	(168,797	)	$	(25,078	)		(434,658	)
Other Comprehensive Income (Loss) Before Reclassifications		980			—			—			980
Amounts Reclassified from Accumulated Other    Comprehensive Income (Loss)		—			10,079			168			10,247
Total Other Comprehensive Income (Loss)		980			10,079			168			11,227
Balance at End of Period	$	(239,803	)	$	(158,718	)	$	(24,910	)	$	(423,431	)

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2024 and June 30, 2023:

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)1						Affected Line Item in the Statement Where Net Income Is Presented
	Three Months Ended June 30,
(dollars in thousands)	2024			2023
Amortization of Unrealized Holding Gains (Losses) on    Investment Securities Held-to-Maturity	$	(6,294	)	$	(6,801	)	Interest Income
		1,669			1,803		Provision for Income Tax
		(4,625	)		(4,998	)	Net of Tax
Amortization of Defined Benefit Plan Items
Prior Service Credit 2		61			62
Net Actuarial Losses 2		(291	)		(177	)
		(230	)		(115	)	Total Before Tax
		62			31		Provision for Income Tax
		(168	)		(84	)	Net of Tax
Total Reclassifications for the Period	$	(4,793	)	$	(5,082	)	Net of Tax
Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)1						Affected Line Item in the Statement Where Net Income Is Presented
	Six Months Ended June 30,
(dollars in thousands)	2024			2023
Amortization of Unrealized Holding Gains (Losses) on    Investment Securities Held-to-Maturity	$	(12,496	)	$	(13,714	)	Interest Income
		3,313			3,635		Provision for Income Tax
		(9,183	)		(10,079	)	Net of Tax
Amortization of Defined Benefit Plan Items
Prior Service Credit 2		122			123
Net Actuarial Losses 2		(582	)		(352	)
		(460	)		(229	)	Total Before Tax
		123			61		Provision for Income Tax
		(337	)		(168	)	Net of Tax
Total Reclassifications for the Period	$	(9,520	)	$	(10,247	)	Net of Tax

1 Amounts in parentheses indicate reductions to net income.

2 These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost and are included in other noninterest expense in the unaudited consolidated statements of income.