Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Comprehensive Income (Loss)

Comprehensive Income (Loss)The Company reports comprehensive income or loss in addition to net income from operations. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income.

The following table shows the changes in the balances of each of the components of other comprehensive income (loss) for the periods presented.

	Year Ended December 31, 2022
(in thousands)	Before Tax Amount		Tax Benefit (Expense)		Net of Tax Amount
Net unrealized losses on securities available for sale	$	(105,262)	$	27,788	$	(77,474)
Amortization of gain on debt securities reclassified to held to maturity from available for sale	(747)		196		(551)
Other comprehensive loss	$	(106,009)	$	27,984	$	(78,025)

	Year Ended December 31, 2021
(in thousands)	Before Tax Amount		Tax Benefit (Expense)		Net of Tax Amount
Unrealized holding losses on securities available for sale arising during the period	$	(15,117)	$	4,466	$	(10,651)
Reclassification adjustment for securities gains included in net income	(9)		3		(6)
Unrealized holding losses on securities available for sale	(15,126)		4,469		(10,657)
Net gain on securities reclassified from available for sale to held to maturity	3,814		(1,030)		2,784
Amortization of gain on debt securities reclassified to held to maturity from available for sale	(383)		118		(265)
Unrealized gains on derivatives	143		(168)		(25)
Change in pension liability, net	43		(13)		30
Other comprehensive loss	$	(11,509)	$	3,376	$	(8,133)

	Year Ended December 31, 2020
(in thousands)	Before Tax Amount		Tax Benefit (Expense)		Net of Tax Amount
Unrealized holding gains on securities available for sale arising during the period	$	14,049	$	(3,711)	$	10,338
Reclassification adjustment for securities gains included in net income	(1,213)		341		(872)
Unrealized holding gains on securities available for sale	12,836		(3,370)		9,466
Unrealized losses on derivatives	(413)		121		(292)
Change in pension liability, net	(36)		11		(25)
Other comprehensive income	$	12,387	$	(3,238)	$	9,149

(in thousands)	Unrealized Gains (Losses)  on Available- for-Sale Securities		Amortization of Gain on Debt Securities Reclassified to Held to Maturity		Unrealized Gains  (Losses) on  Derivatives		Pension Items		Total
Balance at January 1, 2020	$	1,936	$	—	$	317	$	(5)	$	2,248
Other comprehensive income (loss) before classifications	10,338		—		(292)		(25)		10,021
Amounts reclassified from accumulated other comprehensive income	(872)		—		—		—		(872)
Net current period other comprehensive income (loss)	9,466		—		(292)		(25)		9,149
Balance at December 31, 2020	$	11,402	$	—	$	25	$	(30)	$	11,397
Net unrealized gain on securities reclassified from available for sale to held to maturity	(2,784)		2,784		—		—		—
Other comprehensive income (loss) before reclassifications	(7,867)		(265)		(25)		30		(8,127)
Amounts reclassified from accumulated other comprehensive income	(6)		—		—		—		(6)
Net current period other comprehensive income (loss)	(7,873)		(265)		(25)		30		(8,133)
Balance at December 31, 2021	$	745	$	2,519	$	—	$	—	$	3,264
Net current period other comprehensive (loss) income	(77,474)		(551)		—		—		(78,025)
Balance at December 31, 2022	$	(76,729)	$	1,968	$	—	$	—	$	(74,761)