Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Summary of Comprehensive Income(Loss)

The Company’s other comprehensive income (loss) consists of unrealized gains or losses on securities held at year-end classified as available for sale and, cash flow hedges, and the component of the unfunded retirement liability computed in accordance with the requirements of ASC Topic 715, “Compensation – Retirement Benefits.” The before-tax and after-tax amount of each of these categories, as well as the tax (expense)/benefit of each, is summarized as follows:

	For the Year Ended December 31, 2022									For the Year Ended December 31, 2021									For the Year Ended December 31, 2020
	Before Tax Amount			Tax (Expense) or Benefit			Net-of- tax Amount			Before Tax Amount			Tax (Expense) or Benefit			Net-of- tax Amount			Before Tax Amount			Tax (Expense) or Benefit			Net-of- tax Amount
										(dollars in thousands)
Available for sale securities
Unrealized holding gains (losses)	$	(25,144	)	$	6,408		$	(18,736	)	$	(6,245	)	$	1,623		$	(4,622	)	$	3,630		$	(830	)	$	2,800
Reclassification adjustment for (gains) losses realized in net income (1)		—			—			—			—			—			—			(73	)		16			(57	)
Interest rate swaps designated as cash flow hedges
Unrealized holding gains (losses)		(2,170	)		607			(1,563	)		(1,329	)		370			(959	)		6,602			(1,844	)		4,758
Reclassification adjustment for (gains) losses recognized in net income (2)		(832	)		232			(600	)		(2,587	)		723			(1,864	)		(1,879	)		525			(1,354	)
Defined benefit retirement plans
Net change in retirement liability		1,818			(508	)		1,310			5,273			(1,472	)		3,801			(1,695	)		463			(1,232	)
Total other comprehensive income (loss)	$	(26,328	)	$	6,739		$	(19,589	)	$	(4,888	)	$	1,244		$	(3,644	)	$	6,585		$	(1,670	)	$	4,915

(1) Reported in gain (loss) on disposition of investment securities line item in the Consolidated Statements of Income.

(2) Reported in interest on payable loans line item in the Consolidated Statements of Income.

The components of accumulated other comprehensive income are as follows:

	December 31, 2022									December 31, 2021
	Before Tax Amount			Deferred (tax) benefit			Net-of-tax Amount			Before Tax Amount			Deferred (tax) benefit			Net-of-tax Amount
	(dollars in thousands)
Available for sale securities	$	(28,611	)	$	7,390		$	(21,221	)	$	(3,467	)	$	982		$	(2,485	)
Interest Rate swaps designated as cash flow hedges		(14	)		4			(10	)		2,988			(836	)		2,152
Defined benefit retirement plans		600			(168	)		432			(1,218	)		341			(877	)
Total accumulated other comprehensive income	$	(28,025	)	$	7,226		$	(20,799	)	$	(1,697	)	$	487		$	(1,210	)

Summary of Components of Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income are as follows:

	December 31, 2022									December 31, 2021
	Before Tax Amount			Deferred (tax) benefit			Net-of-tax Amount			Before Tax Amount			Deferred (tax) benefit			Net-of-tax Amount
	(dollars in thousands)
Available for sale securities	$	(28,611	)	$	7,390		$	(21,221	)	$	(3,467	)	$	982		$	(2,485	)
Interest Rate swaps designated as cash flow hedges		(14	)		4			(10	)		2,988			(836	)		2,152
Defined benefit retirement plans		600			(168	)		432			(1,218	)		341			(877	)
Total accumulated other comprehensive income	$	(28,025	)	$	7,226		$	(20,799	)	$	(1,697	)	$	487		$	(1,210	)