Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The following tables present the activity in other comprehensive income (loss):

(Dollars in thousands)
Year ended December 31, 2024	Pre-tax Amounts	Income Tax Expense	Net of Tax
Available for Sale Debt Securities:
Changes in fair value of available for sale debt securities	($12,050)	$2,657	($9,393)
Net realized losses on securities reclassified into earnings	31,047	(7,502)	23,545
Net change in fair value of available for sale debt securities	18,997	(4,845)	14,152
Cash Flow Hedges:
Changes in fair value of cash flow hedges	3,506	(918)	2,588
Net cash flow hedge losses reclassified into earnings	6,830	(1,737)	5,093
Net change in the fair value of cash flow hedges	10,336	(2,655)	7,681
Defined Benefit Plan Obligations:
Defined benefit plan obligation adjustment	77	(19)	58
Amortization of net actuarial losses (2)	123	(32)	91
Net change in defined benefit plan obligations	200	(51)	149
Total other comprehensive income	$29,533	($7,551)	$21,982

(Dollars in thousands)
Year ended December 31, 2023	Pre-tax Amounts	Income Tax Expense	Net of Tax
Available for Sale Debt Securities:
Changes in fair value of available for sale debt securities	$20,163	($5,721)	$14,442
Cash Flow Hedges:
Changes in fair value of cash flow hedges	1,647	(346)	1,301
Net cash flow hedge losses reclassified into earnings	7,563	(1,838)	5,725
Net change in the fair value of cash flow hedges	9,210	(2,184)	7,026
Defined Benefit Plan Obligations:
Defined benefit plan obligation adjustment	(6,712)	1,712	(5,000)
Amortization of net actuarial losses	237	(58)	179
Net change in defined benefit plan obligations	(6,475)	1,654	(4,821)
Total other comprehensive income	$22,898	($6,251)	$16,647

(Dollars in thousands)
Year ended December 31, 2022	Pre-tax Amounts	Income Tax Benefit	Net of Tax
Available for Sale Debt Securities:
Changes in fair value of available for sale debt securities	($163,471)	$39,233	($124,238)
Cash Flow Hedges:
Changes in fair value of cash flow hedges	(27,344)	6,563	(20,781)
Net cash flow hedge gains reclassified into earnings	2,828	(679)	2,149
Net change in the fair value of cash flow hedges	(24,516)	5,884	(18,632)
Defined Benefit Plan Obligations:
Defined benefit plan obligation adjustment	4,934	(1,184)	3,750
Amortization of net actuarial losses	1,712	(411)	1,301
Net change in defined benefit plan obligations	6,646	(1,595)	5,051
Total other comprehensive loss	($181,341)	$43,522	($137,819)

The following tables present the changes in AOCL by component, net of tax:

(Dollars in thousands)	Net Unrealized Losses on Available for Sale Debt Securities	Net Unrealized Losses on Cash Flow Hedges	Net Unrealized Losses on Defined Benefit Plan Obligations	Total
Balance at December 31, 2023	($116,591)	($15,619)	($8,943)	($141,153)
Other comprehensive (loss) income before reclassifications	(9,393)	2,588	58	(6,747)
Amounts reclassified from AOCL	23,545	5,093	91	28,729
Net other comprehensive income	14,152	7,681	149	21,982
Balance at December 31, 2024	($102,439)	($7,938)	($8,794)	($119,171)

(Dollars in thousands)	Net Unrealized Losses on Available for Sale Debt Securities	Net Unrealized Losses on Cash Flow Hedges	Net Unrealized Losses on Defined Benefit Plan Obligations	Total
Balance at December 31, 2022	($131,033)	($22,645)	($4,122)	($157,800)
Other comprehensive income (loss) before reclassifications	14,442	1,301	(5,000)	10,743
Amounts reclassified from AOCL	—	5,725	179	5,904
Net other comprehensive income (loss)	14,442	7,026	(4,821)	16,647
Balance at December 31, 2023	($116,591)	($15,619)	($8,943)	($141,153)

(Dollars in thousands)	Net Unrealized Gains (Losses)on Available for Sale Debt Securities	Net Unrealized Losses on Cash Flow Hedges	Net Unrealized Losses on Defined Benefit Plan Obligations	Total
Balance at December 31, 2021	($6,795)	($4,013)	($9,173)	($19,981)
Other comprehensive (loss) income before reclassifications	(124,238)	(20,781)	3,750	(141,269)
Amounts reclassified from AOCL	—	2,149	1,301	3,450
Net other comprehensive (loss) income	(124,238)	(18,632)	5,051	(137,819)
Balance at December 31, 2022	($131,033)	($22,645)	($4,122)	($157,800)