Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Loss [Abstract]

Schedule of Accumulated Other Comprehensive Loss

	Investment		Investment
	securities-		securities-		Investment
	with OTTI		all other		securities-		Cash Flow		Pension
(in thousands)	AFS		AFS		HTM		Hedge		Plan		SERP		Total
Accumulated OCL, net:
Balance - January 1, 2021	$	(3,277)	$	(25)	$	(315)	$	(954)	$	(22,630)	$	(1,662)	$	(28,863)
Other comprehensive income/(loss) before reclassifications		2,475		(5,611)		—		635		3,431		(521)		409
Amounts reclassified from accumulated other comprehensive loss		(147)		(113)		181		—		1,091		128		1,140
Balance - December 31, 2021	$	(949)	$	(5,749)	$	(134)	$	(319)	$	(18,108)	$	(2,055)	$	(27,314)
Other comprehensive income/(loss) before reclassifications		103		(1,843)		(6,100)		614		(2,651)		—		(9,877)
Amounts reclassified from accumulated other comprehensive loss		(37)		(2)		69		—		204		50		284
Balance - March 31, 2022	$	(883)	$	(7,594)	$	(6,165)	$	295	$	(20,555)	$	(2,005)	$	(36,907)
Other comprehensive income/(loss) before reclassifications		(582)		(3,924)		—		182		(5,069)		—		(9,393)
Amounts reclassified from accumulated other comprehensive loss		(37)		—		168		—		204		49		384
Balance - June 30, 2022	$	(1,502)	$	(11,518)	$	(5,997)	$	477	$	(25,420)	$	(1,956)	$	(45,916)

Components of Comprehensive Income

	Before		Tax
Components of Other Comprehensive Loss	Tax		(Expense)
(in thousands)	Amount		Benefit		Net
For the six months ended June 30, 2022
Available for sale (AFS) securities with OTTI:
Unrealized holding losses	$	(654)	$	175	$	(479)
Less: accretable yield recognized in income		101		(27)		74
Net unrealized losses on investments with OTTI		(755)		202		(553)
Available for sale securities – all other:
Unrealized holding losses		(16,203)		4,336		(11,867)
Unrealized holding losses on securities transferred from available for sale to held to maturity		8,328		(2,228)		6,100
Less: gains recognized in income		3		(1)		2
Net unrealized losses on all other AFS securities		(7,878)		2,109		(5,769)
Held to maturity securities:
Unrealized holding losses on securities transferred to held to maturity		(8,328)		2,228		(6,100)
Less: amortization recognized in income		(324)		87		(237)
Net unrealized losses on HTM securities		(8,004)		2,141		(5,863)
Cash flow hedges:
Unrealized holding gains		1,088		(292)		796
Pension Plan:
Unrealized net actuarial loss		(10,542)		2,822		(7,720)
Less: amortization of unrecognized loss		(558)		150		(408)
Net pension plan liability adjustment		(9,984)		2,672		(7,312)
SERP:
Unrealized net actuarial loss		—		—		—
Less: amortization of unrecognized loss		(135)		36		(99)
Net SERP liability adjustment		135		(36)		99
Other comprehensive loss	$	(25,398)	$	6,796	$	(18,602)

	Before		Tax
Components of Other Comprehensive Income	Tax		(Expense)
(in thousands)	Amount		Benefit		Net
For the six months ended June 30, 2021
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	2,523	$	(676)	$	1,847
Less: gains recognized in income		—		—		—
Less: accretable yield recognized in income		101		(27)		74
Net unrealized gains on investments with OTTI		2,422		(649)		1,773
Available for sale securities – all other:
Unrealized holding losses		(4,327)		1,159		(3,168)
Less: gains recognized in income		154		(41)		113
Net unrealized losses on all other AFS securities		(4,481)		1,200		(3,281)
Held to maturity securities:
Unrealized holding gains		—		—		—
Less: amortization recognized in income		(108)		29		(79)
Net unrealized gains on HTM securities		108		(29)		79
Cash flow hedges:
Unrealized holding gains		507		(136)		371
Pension Plan:
Unrealized net actuarial gain		1,090		(291)		799
Less: amortization of unrecognized loss		(744)		200		(544)
Less: amortization of prior service costs		—		—		—
Net pension plan liability adjustment		1,834		(491)		1,343
SERP:
Unrealized net actuarial loss		—		—		—
Less: amortization of unrecognized loss		(150)		40		(110)
Net SERP liability adjustment		150		(40)		110
Other comprehensive income	$	540	$	(145)	$	395

Components of Other Comprehensive Loss (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended June 30, 2022
Available for sale (AFS) securities with OTTI:
Unrealized holding losses	$	(795)	$	213	$	(582)
Less: accretable yield recognized in income		51		(14)		37
Net unrealized losses on investments with OTTI		(846)		227		(619)
Available for sale securities – all other:
Unrealized holding losses		(5,359)		1,435		(3,924)
Unrealized holding losses on securities transferred from available for sale to held to maturity		—		—		—
Less: gains recognized in income		—		—		—
Net unrealized losses on all other AFS securities		(5,359)		1,435		(3,924)
Held to maturity securities:
Unrealized holding gains		—		—		—
Less: amortization recognized in income		(230)		62		(168)
Net unrealized gains on HTM securities		230		(62)		168
Cash flow hedges:
Unrealized holding gains		249		(67)		182
Pension Plan:
Unrealized net actuarial loss		(6,922)		1,853		(5,069)
Less: amortization of unrecognized loss		(279)		75		(204)
Net pension plan liability adjustment		(6,643)		1,778		(4,865)
SERP:
Unrealized net actuarial loss		—		—		—
Less: amortization of unrecognized loss		(67)		18		(49)
Net SERP liability adjustment		67		(18)		49
Other comprehensive loss	$	(12,302)	$	3,293	$	(9,009)

Components of Other Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended June 30, 2021
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	2,160	$	(579)	$	1,581
Less: accretable yield recognized in income		51		(14)		37
Net unrealized gains on investments with OTTI		2,109		(565)		1,544
Available for sale securities – all other:
Unrealized holding gains		2,778		(744)		2,034
Less: gains recognized in income		154		(41)		113
Net unrealized gains on all other AFS securities		2,624		(703)		1,921
Held to maturity securities:
Less: amortization recognized in income		(46)		12		(34)
Net unrealized gains on HTM securities		46		(12)		34
Cash flow hedges:
Unrealized holding losses		(47)		13		(34)
Pension Plan:
Unrealized net actuarial gain		1,280		(342)		938
Less: amortization of unrecognized loss		(372)		100		(272)
Less: amortization of prior service costs		—		—		—
Net pension plan liability adjustment		1,652		(442)		1,210
SERP:
Unrealized net actuarial loss		—		—		—
Less: amortization of unrecognized loss		(73)		18		(55)
Net SERP liability adjustment		73		(18)		55
Other comprehensive income	$	6,457	$	(1,727)	$	4,730

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the details of amounts reclassified from accumulated other comprehensive loss for the six and three month periods ended June 30, 2022 and 2021:

Amounts Reclassified from	Six Months Ended
Accumulated Other Comprehensive Loss	June 30,				Affected Line Item in the Statement
(in thousands)	2022		2021		Where Net Income is Presented
Net unrealized gains on available for sale investment securities with OTTI:
Accretable yield	$	101	$	101	Interest income on taxable investment securities
Taxes		(27)		(27)	Provision for income tax expense
	$	74	$	74	Net of tax
Net unrealized gains on available for sale investment securities - all others:
Gains recognized	$	3	$	154	Net gains
Taxes		(1)		(41)	Provision for income tax expense
	$	2	$	113	Net of tax
Net unrealized losses on held to maturity securities:
Amortization	$	(324)	$	(108)	Interest income on taxable investment securities
Taxes		87		29	Provision for income tax expense
	$	(237)	$	(79)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(558)	$	(744)	Other Expense
Taxes		150		200	Provision for income tax expense
	$	(408)	$	(544)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(135)	$	(150)	Other Expense
Taxes		36		40	Provision for income tax expense
	$	(99)	$	(110)	Net of tax
Total reclassifications for the period	$	(668)	$	(546)	Net of tax

Amounts Reclassified from	Three Months Ended
Accumulated Other Comprehensive Loss	June 30,				Affected Line Item in the Statement
(in thousands)	2022		2021		Where Net Income is Presented
Net unrealized gains on available for sale investment securities with OTTI:
Accretable Yield	$	51	$	51	Interest income on taxable investment securities
Taxes		(14)		(14)	Provision for income tax expense
	$	37	$	37	Net of tax
Net unrealized gains on available for sale investment securities - all others:
Gains recognized	$	—	$	154	Net gains
Taxes		—		(41)	Provision for income tax expense
	$	—	$	113	Net of tax
Net unrealized losses on held to maturity securities:
Amortization	$	(230)	$	(46)	Interest income on taxable investment securities
Taxes		62		12	Provision for income tax expense
	$	(168)	$	(34)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(279)	$	(372)	Other expense
Taxes		75		100	Provision for income tax expense
	$	(204)	$	(272)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(67)	$	(73)	Other expense
Taxes		18		18	Provision for income tax expense
	$	(49)	$	(55)	Net of tax
Total reclassifications for the period	$	(384)	$	(211)	Net of tax