Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss is presented in the tables below (in thousands). All amounts are shown net of tax, which is calculated using a combined federal and state income tax rate approximating 24%.

	Three months ended September 30,						Nine months ended September 30,
	Defined						Defined
	Benefit		Securities				Benefit		Securities
	Pension		Available-				Pension		Available-
	Plan		-for-Sale		Total		Plan		-for-Sale		Total
2024
Beginning Balance	$	(2,581)	$	(119,737)	$	(122,318)	$	(2,581)	$	(107,958)	$	(110,539)
Other comprehensive income before reclassifications	—		35,444		35,444		—		23,664		23,664
Amounts reclassified from other comprehensive income	—		10		10		—		11		11
	—		35,454		35,454		—		23,675		23,675
Ending Balance	$	(2,581)	$	(84,283)	$	(86,864)	$	(2,581)	$	(84,283)	$	(86,864)
2023
Beginning Balance	$	(3,422)	$	(127,026)	$	(130,448)	$	(3,422)	$	(128,066)	$	(131,488)
Other comprehensive (loss) before classifications	—		(36,700)		(36,700)		—		(35,072)		(35,072)
Amounts reclassified from other comprehensive income	—		555		555		—		(33)		(33)
	—		(36,145)		(36,145)		—		(35,105)		(35,105)
Ending Balance	$	(3,422)	$	(163,171)	$	(166,593)	$	(3,422)	$	(163,171)	$	(166,593)

	Amounts reclassified from Other Comprehensive (Loss) Income
	Three months ended				Nine months ended				Affected line item
	September 30,				September 30,				in the Consolidated Statements
	2024		2023		2024		2023		of Income
Securities available-for-sale:
Net securities (losses) gains reclassified into earnings	$	(12)	$	(730)	$	(13)	$	43	(Losses) gains on sale of investment securities, net
Related income tax expense	2		175		2		(10)		Income tax expense (benefit)
Net effect on accumulated other comprehensive loss	$	(10)	$	(555)	$	(11)	$	33