Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

9.   Accumulated Other Comprehensive Income

The following tables summarize the changes, net of tax, within each classification of accumulated other comprehensive income/(loss) for the three and nine months ended September 30, 2023 and 2022.

	Unrealized
	gains and
	(Losses) on available-		2023
	for-sale		Retirement
(Dollar amounts in thousands)	Securities		plans		Total
Beginning balance, July 1,	$	(130,466)	$	(10,784)	$	(141,250)
Change in other comprehensive income (loss) before reclassification		(34,934)		—		(34,934)
Amounts reclassified from accumulated other comprehensive income		—		146		146
Net current period other comprehensive income (loss)		(34,934)		146		(34,788)
Ending balance, September 30,	$	(165,400)	$	(10,638)	$	(176,038)

	Unrealized
	gains and
	(Losses) on available-		2023
	for-sale		Retirement
(Dollar amounts in thousands)	Securities		plans		Total
Beginning balance, January 1,	$	(128,896)	$	(11,078)	$	(139,974)
Change in other comprehensive income (loss) before reclassification		(36,504)		—		(36,504)
Amounts reclassified from accumulated other comprehensive income		—		440		440
Net current period other comprehensive income (loss)		(36,504)		440		(36,064)
Ending balance, September 30,	$	(165,400)	$	(10,638)	$	(176,038)

	Unrealized
	gains and
	(Losses) on available-		2022
	for-sale		Retirement
(Dollar amounts in thousands)	Securities		plans		Total
Beginning balance, July 1,	$	(109,159)	$	(17,471)	$	(126,630)
Change in other comprehensive income (loss) before reclassification		(41,060)		—		(41,060)
Amounts reclassified from accumulated other comprehensive income		—		315		315
Net current period other comprehensive income (loss)		(41,060)		315		(40,745)
Ending balance, September 30,	$	(150,219)	$	(17,156)	$	(167,375)

	Unrealized
	gains and
	(Losses) on available-		2022
	for-sale		Retirement
(Dollar amounts in thousands)	Securities		plans		Total
Beginning balance, January 1,	$	15,674	$	(18,100)	$	(2,426)
Change in other comprehensive income (loss) before reclassification		(165,889)		—		(165,889)
Amounts reclassified from accumulated other comprehensive income		(4)		944		940
Net current period other comprehensive income (loss)		(165,893)		944		(164,949)
Ending balance, September 30,	$	(150,219)	$	(17,156)	$	(167,375)

	Balance at		Current Period		Balance at
(Dollar amounts in thousands)	7/1/2023		Change		9/30/2023
Unrealized gains (losses) on securities available-for-sale without other than temporary impairment	$	(132,671)	$	(34,997)	$	(167,668)
Unrealized gains (losses) on securities available-for-sale with other than temporary impairment		2,205		63		2,268
Total unrealized loss on securities available-for-sale	$	(130,466)	$	(34,934)	$	(165,400)
Unrealized gain (loss) on retirement plans		(10,784)		146		(10,638)
TOTAL	$	(141,250)	$	(34,788)	$	(176,038)

	Balance at		Current Period		Balance at
(Dollar amounts in thousands)	1/1/2023		Change		9/30/2023
Unrealized gains (losses) on securities available-for-sale without other than temporary impairment	$	(131,135)	$	(36,533)	$	(167,668)
Unrealized gains (losses) on securities available-for-sale with other than temporary impairment		2,239		29		2,268
Total unrealized gain (loss) on securities available-for-sale	$	(128,896)	$	(36,504)	$	(165,400)
Unrealized gain (loss) on retirement plans		(11,078)		440		(10,638)
TOTAL	$	(139,974)	$	(36,064)	$	(176,038)

	Balance at		Current Period		Balance at
(Dollar amounts in thousands)	7/1/2022		Change		9/30/2022
Unrealized gains (losses) on securities available-for-sale without other than temporary impairment	$	(111,474)	$	(41,078)	$	(152,552)
Unrealized gains (losses) on securities available-for-sale with other than temporary impairment		2,315		18		2,333
Total unrealized gain (loss) on securities available-for-sale	$	(109,159)	$	(41,060)	$	(150,219)
Unrealized loss on retirement plans		(17,471)		315		(17,156)
TOTAL	$	(126,630)	$	(40,745)	$	(167,375)

	Balance at		Current Period		Balance at
(Dollar amounts in thousands)	1/1/2022		Change		9/30/2022
Unrealized gains (losses) on securities available-for-sale without other than temporary impairment	$	13,155	$	(165,707)	$	(152,552)
Unrealized gains (losses) on securities available-for-sale with other than temporary impairment		2,519		(186)		2,333
Total unrealized income (loss) on securities available-for-sale	$	15,674	$	(165,893)	$	(150,219)
Unrealized gain (loss) on retirement plans		(18,100)		944		(17,156)
TOTAL	$	(2,426)	$	(164,949)	$	(167,375)

	Three Months Ended September 30, 2023
Details about accumulated	Amount reclassified from			Affected line item in
other comprehensive	accumulated other			the statement where
income components	comprehensive income			net income is presented
	(in thousands)
Unrealized gains and losses	$	—		Net securities gains (losses)
on available-for-sale		—		Income tax expense
securities	$	—		Net of tax
Amortization of	$	(195)	(a)	Salary and benefits
retirement plan items		49		Income tax expense
	$	(146)		Net of tax
Total reclassifications for the period	$	(146)		Net of tax

(a)Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details).

	Nine Months Ended September 30, 2023
Details about accumulated	Amount reclassified from			Affected line item in
other comprehensive	accumulated other			the statement where
income components	comprehensive income			net income is presented
	(in thousands)
Unrealized gains and losses	$	—		Net securities gains (losses)
on available-for-sale		—		Income tax expense
securities	$	—		Net of tax
Amortization of	$	(587)	(a)	Salary and benefits
retirement plan items		147		Income tax expense
	$	(440)		Net of tax
Total reclassifications for the period	$	(440)		Net of tax

(a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details).

	Three Months Ended September 30, 2022
Details about accumulated	Amount reclassified from			Affected line item in
other comprehensive	accumulated other			the statement where
income components	comprehensive income			net income is presented
	(in thousands)
Unrealized gains and losses	$	—		Net securities gains (losses)
on available-for-sale		—		Income tax expense
securities	$	—		Net of tax
Amortization of	$	(420)	(a)	Salary and benefits
retirement plan items		105		Income tax expense
	$	(315)		Net of tax
Total reclassifications for the period	$	(315)		Net of tax

(a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details).

	Nine Months Ended September 30, 2022
Details about accumulated	Amount reclassified from			Affected line item in
other comprehensive	accumulated other			the statement where
income components	comprehensive income			net income is presented
	(in thousands)
Unrealized gains and losses	$	5		Net securities gains (losses)
on available-for-sale		(1)		Income tax expense
securities	$	4		Net of tax
Amortization of	$	(1,260)	(a)	Salary and benefits
retirement plan items		316		Income tax expense
	$	(944)		Net of tax
Total reclassifications for the period	$	(940)		Net of tax

(a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details).