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Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2024

Accumulated Other Comprehensive Loss

Schedule of accumulated other comprehensive loss, net of tax

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


		Three months ended June 30, 2024												Three months ended June 30, 2023
		Net												Net
		Unrealized												Unrealized
		Gains and												Gains and
		Losses on						Defined						Losses on						Defined
		Investment			Interest			Benefit						Investment			Interest			Benefit
		Securities			Rate			Pension						Securities			Rate			Pension
		AFS⁽¹⁾			Hedge⁽¹⁾			Items⁽¹⁾			Total⁽¹⁾			AFS⁽¹⁾			Hedge⁽¹⁾			Items⁽¹⁾			Total⁽¹⁾
Beginning balance		$	(13,971)		$	278		$	(6,025)		$	(19,718)		$	(14,489)		$	(655)		$	(7,582)		$	(22,726)
Other comprehensive income (loss) before reclassifications			(119)			228			1,880			1,989			(2,560)			991			—			(1,569)
Amounts reclassified from accumulated other comprehensive loss			—			(157)			297			140			—			(75)			—			(75)
Net current period other comprehensive income (loss)			(119)			71			2,177			2,129			(2,560)			916			—			(1,644)
Ending balance		$	(14,090)		$	349		$	(3,848)		$	(17,589)		$	(17,049)		$	261		$	(7,582)		$	(24,370)

Six months ended June 30, 2024

Six months ended June 30, 2023

Net

Net

Unrealized

Unrealized

Gains and

Gains and

Losses on

Defined

Losses on

Defined

Investment

Interest

Benefit

Investment

Interest

Benefit

Securities

Rate

Pension

Securities

Rate

Pension

AFS⁽¹⁾

Hedge⁽¹⁾

Items⁽¹⁾

Total⁽¹⁾

AFS⁽¹⁾

Hedge⁽¹⁾

Items⁽¹⁾

Total⁽¹⁾

Beginning balance

$

(13,730)

$

(352)

$

(5,894)

$

(19,976)

$

(14,938)

$

—

$

(7,582)

$

(22,520)

Other comprehensive income (loss) before reclassifications

(360)

1,016

1,749

2,405

(2,111)

355

—

(1,756)

Amounts reclassified from accumulated other comprehensive loss

—

(315)

297

(18)

—

(94)

—

(94)

Net current period other comprehensive income (loss)

(360)

701

2,046

2,387

(2,111)

261

—

(1,850)

Ending balance

$

(14,090)

$

349

$

(3,848)

$

(17,589)

$

(17,049)

$

261

$

(7,582)

$

(24,370)

(1)	Amounts in parentheses indicate debits on the Consolidated Balance Sheets.

Schedule of reclassification out of accumulated other comprehensive loss

The following tables present the amounts reclassified out of each component of accumulated other comprehensive loss for the three and six months ended June 30, 2024 and 2023 (in thousands):


		Amount reclassified from accumulated
		other comprehensive loss⁽¹⁾
		For the three			For the three
Details about accumulated other		months ended			months ended			Affected line item in the
comprehensive loss components		June 30, 2024			June 30, 2023			statement of operations
Interest rate hedge
		$	(199)		$	(95)		Interest expense - Deposits
			42			20		Provision (credit) for income taxes
		$	(157)		$	(75)
Amortization of estimated defined benefit pension plan loss⁽²⁾
		$	376		$	—		Other expense
			(79)			—		Provision (credit) for income taxes
		$	297		$	—
Total reclassifications for the period		$	140		$	(75)


		Amount reclassified from accumulated
		other comprehensive loss⁽¹⁾
		For the six			For the six
Details about accumulated other		months ended			months ended			Affected line item in the
comprehensive loss components		June 30, 2024			June 30, 2023			statement of operations
Interest rate hedge
		$	(399)		$	(119)		Interest expense - Deposits
			84			25		Provision (credit) for income taxes
		$	(315)		$	(94)
Amortization of estimated defined benefit pension plan loss⁽²⁾
		$	376		$	—		Other expense
			(79)			—		Provision (credit) for income taxes
		$	297		$	—
Total reclassifications for the period		$	(18)		$	(94)

(1) Amounts in parentheses indicate credits.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (see Note 15 for additional details).