Stockholders’ Equity and Accumulated Other Comprehensive (Loss) Income

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Stockholders’ Equity and Accumulated Other Comprehensive (Loss) Income

Stockholders’ Equity and Accumulated Other Comprehensive (Loss) Income

Equity-Based Compensation Plan

The following table summarizes the status of the Company's restricted share units (RSUs) for the six months ended June 30, 2023:

	RSUs
(in thousands, except per share amounts)	Quantity	Weighted-Average Grant Date Fair Value Per share
Non-vested at January 1, 2023	—	$	—
Granted	12,277	18.33
Vested	—	—
Forfeited	—	—
Non-vested at June 30, 2023	12,277	$	18.33

Accumulated Other Comprehensive (Loss) Income

The following table summarizes the change in the components of the Company’s accumulated other comprehensive (loss) income for the six months ended June 30, 2023 and 2022:

	Six Months Ended June 30, 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	1,743		(320)		1,423
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—
Current period other comprehensive income (loss), before tax	1,743		(320)		1,423
Income tax (expense) benefit	(366)		67		(299)
Current period other comprehensive income (loss), net of tax	1,377		(253)		1,124
Balance at end of period	$	(35,280)	$	4,690	$	(30,590)

	Six Months Ended June 30, 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	(39,251)		—		(39,251)
Amounts reclassified from accumulated other comprehensive loss	—		—		—
Current period other comprehensive loss, before tax	(39,251)		—		(39,251)
Income tax benefit	8,243		—		8,243
Current period other comprehensive loss, net of tax	(31,008)		—		(31,008)
Balance at end of period	$	(30,646)	$	2,931	$	(27,715)

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

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