Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Changes in the Components of Other Comprehensive Income

Changes in the components of other comprehensive income, net of tax, were as follows for the periods presented:

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Three months ended June 30, 2024
Securities available for sale:
Unrealized holding gains on securities	$	648	$	180	$	468
Amortization of unrealized holding losses on securities transferred to the held to maturity category	3,252		831		2,421
Total securities available for sale	3,900		1,011		2,889
Derivative instruments:
Unrealized holding losses on derivative instruments	(188)		(47)		(141)
Total derivative instruments	(188)		(47)		(141)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	105		26		79
Total defined benefit pension and post-retirement benefit plans	105		26		79
Total other comprehensive income	$	3,817	$	990	$	2,827
Three months ended June 30, 2023
Securities available for sale:
Unrealized holding losses on securities	$	(21,283)	$	(5,353)	$	(15,930)
Reclassification adjustment for losses realized in net income	22,438		5,622		16,816
Amortization of unrealized holding losses on securities transferred to the held to maturity category	3,026		774		2,252
Total securities available for sale	4,181		1,043		3,138
Derivative instruments:
Unrealized holding losses on derivative instruments	(3,167)		(806)		(2,361)
Total derivative instruments	(3,167)		(806)		(2,361)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	115		29		86
Total defined benefit pension and post-retirement benefit plans	115		29		86
Total other comprehensive income	$	1,129	$	266	$	863

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Six months ended June 30, 2024
Securities available for sale:
Unrealized holding losses on securities	$	(5,544)	$	(1,378)	$	(4,166)
Amortization of unrealized holding losses on securities transferred to the held to maturity category	6,527		1,668		4,859
Total securities available for sale	983		290		693
Derivative instruments:
Unrealized holding losses on derivative instruments	(953)		(242)		(711)
Total derivative instruments	(953)		(242)		(711)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	211		53		158
Total defined benefit pension and post-retirement benefit plans	211		53		158
Total other comprehensive income	$	241	$	101	$	140
Six months ended June 30, 2023
Securities available for sale:
Unrealized holding losses on securities	$	(569)	$	(170)	$	(399)
Reclassification adjustment for losses realized in net income	22,438		5,622		16,816
Amortization of unrealized holding losses on securities transferred to the held to maturity category	6,154		1,574		4,580
Total securities available for sale	28,023		7,026		20,997
Derivative instruments:
Unrealized holding losses on derivative instruments	(4,823)		(1,230)		(3,593)
Total derivative instruments	(4,823)		(1,230)		(3,593)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	231		59		172
Total defined benefit pension and post-retirement benefit plans	231		59		172
Total other comprehensive income	$	23,431	$	5,855	$	17,576

Schedule of Accumulated Balances for Each Component of Other Comprehensive Income, Net of Tax

The accumulated balances for each component of other comprehensive loss, net of tax, were as follows as of the dates presented:

	June 30, 2024		December 31, 2023
Unrealized losses on securities	$	(162,791)	$	(163,484)
Unrealized gains on derivative instruments	16,340		17,051
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(7,665)		(7,823)
Total accumulated other comprehensive loss	$	(154,116)	$	(154,256)