Comprehensive Loss

9 Months Ended

Sep. 30, 2023

Other Comprehensive Income (Loss), Net of Tax [Abstract]

COMPREHENSIVE LOSS (In Thousands)

The following table presents the components of other comprehensive loss for the three and nine month periods ended September 30, 2023 and 2022:


Schedule of Comprehensive Loss
	Three Months Ended September 30						Nine Months Ended September 30,
			Tax						Tax
	Before-Tax		Benefit		Net-of-Tax		Before-Tax		Benefit		Net-of-Tax
	Amount		(Expense)		Amount		Amount		(Expense)		Amount
2023
Net Unrealized Securities Holding Loss on Securities Available-for-Sale Arising During the Period	$	(7,796)	$	2,010	$	(5,786)	$	(4,763)	$	1,227	$	(3,536)
Net Unrealized Gain on Cash Flow Swap	846		(221)		625		125		(34)		91



Reclassification of Net Unrealized Gain on Cash Flow Hedge Agreements to Interest Expense	242		(61)		181		660		(169)		491
Amortization of Net Retirement Plan Actuarial Gain	(40)		10		(30)		(121)		31		(90)
Amortization of Net Retirement Plan Prior Service Cost	51		(12)		39		154		(39)		115
Other Comprehensive Loss	$	(6,697)	$	1,726	$	(4,971)	$	(3,945)	$	1,016	$	(2,929)

2022
Net Unrealized Securities Holding Loss on Securities Available-for-Sale Arising During the Period	$	(27,945)	$	7,144	$	(20,801)	$	(70,945)	$	18,137	$	(52,808)
Net Unrealized Gain on Cash Flow Swap	1,046		(268)		778		3,737		(956)		2,781
Reclassification of Net Unrealized Gain on Cash Flow Hedge Agreements to Interest Expense	75		(20)		55		57		(15)		42


Amortization of Net Retirement Plan Actuarial Loss	564		(144)		420		592		(151)		441
Amortization of Net Retirement Plan Prior Service Cost	57		(15)		42		171		(44)		127
Other Comprehensive Loss	$	(26,203)	$	6,697	$	(19,506)	$	(66,388)	$	16,971	$	(49,417)

The following table presents the changes in accumulated other comprehensive (loss) income by component:


Changes in Accumulated Other Comprehensive (Loss) Income by Component (1)

	Unrealized Loss on Available-for-Sale Securities		Unrealized Gain on Cash Flow Swap		Defined Benefit Plan Items				Total
					Net Actuarial Loss		Net Prior Service Cost


For the quarter-to-date periods ended:
June 30, 2023	$	(46,591)	$	3,830	$	(4,527)	$	(325)	$	(47,613)
Other comprehensive income or loss before reclassifications	(5,786)		625		—		—		(5,161)
Amounts reclassified from accumulated other comprehensive income or loss	—		181		(30)		39		190
Net current-period other comprehensive income or loss	(5,786)		806		(30)		39		(4,971)

September 30, 2023	$	(52,377)	$	4,636	$	(4,557)	$	(286)	$	(52,584)

June 30, 2022	$	(32,621)	$	3,310	$	660	$	(913)	$	(29,564)
Other comprehensive (loss) or income before reclassifications	(20,801)		778		—		—		(20,023)
Amounts reclassified from accumulated other comprehensive income or loss	—		55		420		42		517
Net current-period other comprehensive (loss) or income	(20,801)		833		420		42		(19,506)

September 30, 2022	$	(53,422)	$	4,143	$	1,080	$	(871)	$	(49,070)

For the Year-To-Date periods ended:

December 31, 2022	$	(48,841)	$	4,054	$	(4,467)	$	(401)	$	(49,655)
Other comprehensive income or loss before reclassifications	(3,536)		91		—		—		(3,445)
Amounts reclassified from accumulated other comprehensive income or loss	—		491		(90)		115		516
Net current-period other comprehensive income or loss	(3,536)		582		(90)		115		(2,929)

September 30, 2023	$	(52,377)	$	4,636	$	(4,557)	$	(286)	$	(52,584)

December 31, 2021	$	(614)	$	1,320	$	639	$	(998)	$	347
Other comprehensive income or loss before reclassifications	(52,808)		2,781		—		—		(50,027)
Amounts reclassified from accumulated other comprehensive income or loss	—		42		441		127		610
Net current-period other comprehensive income or loss	(52,808)		2,823		441		127		(49,417)

September 30, 2022	$	(53,422)	$	4,143	$	1,080	$	(871)	$	(49,070)

(1) All amounts are net of tax.

The following table presents the reclassifications out of accumulated other comprehensive income or loss:


Reclassifications Out of Accumulated Other Comprehensive Income or Loss

Details about Accumulated Other Comprehensive Income or Loss Components	Amounts Reclassified from Accumulated Other Comprehensive Income or Loss			Affected Line Item in the Statement Where Net Income Is Presented

For the quarter-to-date periods ended:

September 30, 2023





Reclassification of Net Unrealized Gain on Cash Flow Hedge Agreements to Interest Expense	$	(242)		Interest expense
Amortization of defined benefit pension items:
Prior-service costs	(51)		(1)	Salaries and Employee Benefits
Actuarial loss	40		(1)	Salaries and Employee Benefits
	(253)			Total before Tax
	63			Provision for Income Taxes
Total reclassifications for the period	$	(190)		Net of Tax



September 30, 2022
Reclassification of Net Unrealized Gain on Cash Flow Hedge Agreements to Interest Expense	$	(75)		Interest expense
Amortization of defined benefit pension items:
Prior-service costs	$	(57)	(1)	Salaries and Employee Benefits
Actuarial loss	(564)		(1)	Salaries and Employee Benefits
	(696)			Total before Tax
	179			Provision for Income Taxes
Total reclassifications for the period	$	(517)		Net of Tax



For the Year-to-date periods ended:

September 30, 2023





Reclassification of Net Unrealized Gain on Cash Flow Hedge Agreements to Interest Expense	$	(660)		Interest expense
Amortization of defined benefit pension items:
Prior-service costs	(154)		(1)	Salaries and Employee Benefits
Actuarial loss	121		(1)	Salaries and Employee Benefits
	(693)			Total before Tax
	177			Provision for Income Taxes
Total reclassifications for the period	$	(516)		Net of Tax



September 30, 2022





Reclassification of Net Unrealized Gain on Cash Flow Hedge Agreements to Interest Expense	$	(57)		Interest expense
Amortization of defined benefit pension items:
Prior-service costs	(171)		(1)	Salaries and Employee Benefits
Actuarial loss	(592)		(1)	Salaries and Employee Benefits
	(820)			Total before Tax
	210			Provision for Income Taxes
Total reclassifications for the period	$	(610)		Net of Tax

(1) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost.