Stockholders’ Equity and Accumulated Other Comprehensive (Loss) Income (Tables)

9 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes the status of the Company's restricted share units (RSUs) for the nine months ended September 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 September 30, 2023	12,277	$	18.33

Schedule of the Change in the Components of the Accumulated Other Comprehensive Loss

The following table summarizes the change in the components of the Company’s accumulated other comprehensive loss for the nine months ended September 30, 2023 and 2022:

	Nine Months Ended September 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 loss, before reclassifications	(10,061)		(480)		(10,541)
Amounts reclassified from accumulated other comprehensive loss	—		—		—
Current period other comprehensive loss, before tax	(10,061)		(480)		(10,541)
Income tax benefit	2,113		101		2,214
Current period other comprehensive loss, net of tax	(7,948)		(379)		(8,327)
Balance at end of period	$	(44,605)	$	4,564	$	(40,041)

	Nine Months Ended September 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	(54,985)		—		(54,985)
Amounts reclassified from accumulated other comprehensive loss	—		—		—
Current period other comprehensive loss, before tax	(54,985)		—		(54,985)
Income tax benefit	11,547		—		11,547
Current period other comprehensive loss, net of tax	(43,438)		—		(43,438)
Balance at end of period	$	(43,076)	$	2,931	$	(40,145)

(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.