Stockholders' Equity

3 Months Ended

Mar. 31, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Accumulated Other Comprehensive Income (Loss)

The following table summarizes the change in the components of the Company’s accumulated other comprehensive income (loss) for the three months ended March 31, 2023 and 2022:

	Three Months Ended March 31, 2023
(in thousands)	Unrealized Gains (Losses) on Securities (1)		Unrecognized Net Pension and Postretirement Costs (2)		Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	$	(36,657)	$	4,943	$	(31,714)
Other comprehensive income (loss), before reclassifications	5,713		(142)		5,571
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—
Current period other comprehensive income (loss), before tax	5,713		(142)		5,571
Income tax (expense) benefit	(1,200)		30		(1,170)
Current period other comprehensive income (loss), net of tax	4,513		(112)		4,401
Balance at end of period	$	(32,144)	$	4,831	$	(27,313)

	Three Months Ended March 31, 2022
(in thousands)	Unrealized Gains (Losses) on Securities (1)		Unrecognized Net Pension and Postretirement Costs (2)		Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period	$	362	$	2,931	$	3,293
Other comprehensive loss, before reclassifications	(24,787)		—		(24,787)
Amounts reclassified from accumulated other comprehensive loss	—		—		—
Current period other comprehensive loss, before tax	(24,787)		—		(24,787)
Income tax benefit	5,205		—		5,205
Current period other comprehensive loss, net of tax	(19,582)		—		(19,582)
Balance at end of period	$	(19,220)	$	2,931	$	(16,289)

(1)The pre-tax amounts reclassified from accumulated other comprehensive income (loss) are included in investment securities gains (losses), net in the consolidated statements of income.

(2)The pre-tax amounts reclassified from accumulated other comprehensive income (loss) are included in the computation of net periodic pension cost.