Other Comprehensive Income (Tables)

9 Months Ended

Sep. 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 September 30, 2024
Securities available for sale:
Unrealized holding gains on securities	$	31,313	$	7,872	$	23,441
Amortization of unrealized holding losses on securities transferred to the held to maturity category	3,131		800		2,331
Total securities available for sale	34,444		8,672		25,772
Derivative instruments:
Unrealized holding losses on derivative instruments	(1,116)		(288)		(828)
Total derivative instruments	(1,116)		(288)		(828)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	106		28		78
Total defined benefit pension and post-retirement benefit plans	106		28		78
Total other comprehensive income	$	33,434	$	8,412	$	25,022
Three months ended September 30, 2023
Securities available for sale:
Unrealized holding losses on securities	$	(17,175)	$	(4,292)	$	(12,883)
Amortization of unrealized holding losses on securities transferred to the held to maturity category	3,959		1,012		2,947
Total securities available for sale	(13,216)		(3,280)		(9,936)
Derivative instruments:
Unrealized holding gains on derivative instruments	2,670		683		1,987
Total derivative instruments	2,670		683		1,987
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	116		30		86
Total defined benefit pension and post-retirement benefit plans	116		30		86
Total other comprehensive loss	$	(10,430)	$	(2,567)	$	(7,863)

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Nine months ended September 30, 2024
Securities available for sale:
Unrealized holding gains on securities	$	25,769	$	6,494	$	19,275
Amortization of unrealized holding losses on securities transferred to the held to maturity category	9,658		2,468		7,190
Total securities available for sale	35,427		8,962		26,465
Derivative instruments:
Unrealized holding losses on derivative instruments	(2,069)		(530)		(1,539)
Total derivative instruments	(2,069)		(530)		(1,539)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	317		81		236
Total defined benefit pension and post-retirement benefit plans	317		81		236
Total other comprehensive income	$	33,675	$	8,513	$	25,162
Nine months ended September 30, 2023
Securities available for sale:
Unrealized holding losses on securities	$	(17,744)	$	(4,462)	$	(13,282)
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	10,113		2,586		7,527
Total securities available for sale	14,807		3,746		11,061
Derivative instruments:
Unrealized holding losses on derivative instruments	(2,153)		(547)		(1,606)
Total derivative instruments	(2,153)		(547)		(1,606)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	347		89		258
Total defined benefit pension and post-retirement benefit plans	347		89		258
Total other comprehensive income	$	13,001	$	3,288	$	9,713

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:

	September 30, 2024		December 31, 2023
Unrealized losses on securities	$	(137,019)	$	(163,484)
Unrealized gains on derivative instruments	15,512		17,051
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(7,587)		(7,823)
Total accumulated other comprehensive loss	$	(129,094)	$	(154,256)