Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2024

Accumulated Other Comprehensive Loss [Abstract]

Schedule of Accumulated Other Comprehensive Loss

	Investment
	securities-
	with credit		Investment
	related		securities-		Investment
	impairment		all other		securities-		Cash Flow		Pension
(in thousands)	AFS		AFS		HTM		Hedge		Plan		SERP		Total
Accumulated OCL, net:
Balance - January 1, 2024		(2,482)		(13,217)		(5,201)		569		(14,263)		(1,233)		(35,827)
Other comprehensive income/(loss) before reclassifications		155		(459)		—		54		1,096		—		846
Amounts reclassified from accumulated other comprehensive income		(37)		—		118		—		149		29		259
Balance - March 31, 2024	$	(2,364)	$	(13,676)	$	(5,083)	$	623	$	(13,018)	$	(1,204)	$	(34,722)
Other comprehensive (loss)/income before reclassifications		(620)		(528)		—		(51)		(396)		—		(1,595)
Amounts reclassified from accumulated other comprehensive income		(40)		—		118				150		29		257
Balance - June 30, 2024	$	(3,024)	$	(14,204)	$	(4,965)	$	572	$	(13,264)	$	(1,175)	$	(36,060)
Accumulated OCL, net:
Balance - January 1, 2023	$	(1,711)	$	(16,380)	$	(5,703)	$	797	$	(16,603)	$	574	$	(39,026)
Other comprehensive (loss)/income before reclassifications		(1,180)		985		—		(138)		123		—		(210)
Amounts reclassified from accumulated other comprehensive income		(37)		—		133		—		184		(1)		279
Balance - March 31, 2023	$	(2,928)	$	(15,395)	$	(5,570)	$	659	$	(16,296)	$	573	$	(38,957)
Other comprehensive income/(loss) before reclassifications		111		(1,654)		—		150		(42)		—		(1,435)
Amounts reclassified from accumulated other comprehensive loss		(40)		—		129		—		195		(2)		282
Balance - June 30, 2023	$	(2,857)	$	(17,049)	$	(5,441)	$	809	$	(16,143)	$	571	$	(40,110)

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, 2024
Available for sale (AFS) securities with credit related impairment:
Unrealized holding losses	$	(633)	$	168	$	(465)
Less: accretable yield recognized in income		101		(24)		77
Net unrealized losses on investments with credit related impairment		(734)		192		(542)
Available for sale securities – all other:
Unrealized holding losses		(1,341)		354		(987)
Held to maturity securities:
Unrealized holding gains on securities transferred to held to maturity		—		—		—
Less: amortization recognized in income		(320)		84		(236)
Net unrealized gains on HTM securities		320		(84)		236
Cash flow hedges:
Unrealized holding gains		4		(1)		3
Pension Plan:
Unrealized net actuarial gain		951		(251)		700
Less: amortization of unrecognized loss		(406)		107		(299)
Net pension plan liability adjustment		1,357		(358)		999
SERP:
Unrealized net actuarial gain		—		—		—
Less: amortization of unrecognized loss		(78)		20		(58)
Net SERP liability adjustment		78		(20)		58
Other comprehensive loss	$	(316)	$	83	$	(233)

	Before		Tax
Components of Other Comprehensive Income	Tax		(Expense)
(in thousands)	Amount		Benefit		Net
For the six months ended June 30, 2023
Available for sale (AFS) securities with credit related impairment:
Unrealized holding losses	$	(1,408)	$	339	$	(1,069)
Less: accretable yield recognized in income		101		(24)		77
Net unrealized losses on investments with credit related impairment		(1,509)		363		(1,146)
Available for sale securities – all other:
Unrealized holding losses		(881)		212		(669)
Held to maturity securities:
Unrealized holding gains on securities transferred to held to maturity		—		—		—
Less: amortization recognized in income		(345)		83		(262)
Net unrealized gains on HTM securities		345		(83)		262
Cash flow hedges:
Unrealized holding gain		16		(4)		12
Pension Plan:
Unrealized net actuarial gain		105		(24)		81
Less: amortization of unrecognized loss		(499)		120		(379)
Net pension plan liability adjustment		604		(144)		460
SERP:
Unrealized net actuarial gain		—		—		—
Less: amortization of unrecognized gain		4		(1)		3
Net SERP liability adjustment		(4)		1		(3)
Other comprehensive loss	$	(1,429)	$	345	$	(1,084)

Components of Other Comprehensive Loss (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended June 30, 2024
Available for sale (AFS) securities with credit related impairment:
Unrealized holding losses	$	(843)	$	223	$	(620)
Less: accretable yield recognized in income		51		(11)		40
Net unrealized losses on investments with credit related impairment		(894)		234		(660)
Available for sale securities – all other:
Unrealized holding losses		(717)		189		(528)
Held to maturity securities:
Unrealized holding gains		—		—		—
Less: amortization recognized in income		(160)		42		(118)
Net unrealized gains on HTM securities		160		(42)		118
Cash flow hedges:
Unrealized holding losses		(69)		18		(51)
Pension Plan:
Unrealized net actuarial loss		(538)		142		(396)
Less: amortization of unrecognized loss		(203)		53		(150)
Net pension plan liability adjustment		(335)		89		(246)
SERP:
Unrealized net actuarial loss		—		—		—
Less: amortization of unrecognized loss		(39)		10		(29)
Net SERP liability adjustment		39		(10)		29
Other comprehensive loss	$	(1,816)	$	478	$	(1,338)

Components of Other Comprehensive Loss (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended June 30, 2023
Available for sale (AFS) securities with credit related impairment:
Unrealized holding gains	$	198	$	(87)	$	111
Less: accretable yield recognized in income		51		(11)		40
unrealized losses on investments with credit related impairment		147		(76)		71
Available for sale securities – all other:
Unrealized holding losses		(2,221)		567		(1,654)
Held to maturity securities:
Unrealized holding gains		—		—		—
Less: amortization recognized in income		(164)		35		(129)
Net unrealized gains on HTM securities		164		(35)		129
Cash flow hedges:
Unrealized holding gains		204		(54)		150
Pension Plan:
Unrealized net actuarial loss		(63)		21		(42)
Less: amortization of unrecognized loss		(249)		54		(195)
Net pension plan liability adjustment		186		(33)		153
SERP:
Unrealized net actuarial loss		—		—		—
Less: amortization of unrecognized loss		2		—		2
Net SERP liability adjustment		(2)		—		(2)
Other comprehensive loss	$	(1,522)	$	369	$	(1,153)

Reclassification out of Accumulated Other Comprehensive Income

Amounts Reclassified from	Six Months Ended
Accumulated Other Comprehensive Loss	June 30,				Affected Line Item in the Statement
(in thousands)	2024		2023		Where Net Income is Presented
Net unrealized gains on available for sale investment securities with credit related impairment:
Accretable yield	$	101	$	101	Interest income on taxable investment securities
Taxes		(24)		(24)	Provision for income tax expense
	$	77	$	77	Net of tax
Net unrealized losses on held to maturity securities:
Amortization	$	(320)	$	(345)	Interest income on taxable investment securities
Taxes		84		83	Provision for income tax expense
	$	(236)	$	(262)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(406)	$	(499)	Other Expense
Taxes		107		120	Provision for income tax expense
	$	(299)	$	(379)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized (loss)/gain	$	(78)	$	4	Other Expense
Taxes		20		(1)	Provision for income tax expense
	$	(58)	$	3	Net of tax
Total reclassifications for the period		(516)		(561)	Net of tax

Amounts Reclassified from	Three Months Ended
Accumulated Other Comprehensive Loss	June 30,				Affected Line Item in the Statement
(in thousands)	2024		2023		Where Net Income is Presented
Net unrealized gains on available for sale investment securities with credit related impairment:
Accretable yield	$	51	$	51	Interest income on taxable investment securities
Taxes		(11)		(11)	Provision for income tax expense
	$	40	$	40	Net of tax
Net unrealized losses on held to maturity securities:
Amortization	$	(160)	$	(164)	Interest income on taxable investment securities
Taxes		42		35	Provision for income tax expense
	$	(118)	$	(129)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(203)	$	(249)	Other expense
Taxes		53		54	Provision for income tax expense
	$	(150)	$	(195)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(39)	$	2	Other expense
Taxes		10		—	Provision for income tax expense
	$	(29)	$	2	Net of tax
Total reclassifications for the period	$	(257)	$	(282)	Net of tax