Comprehensive Income/(Loss) (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The activity in accumulated other comprehensive income/(loss) for the nine months ended September 30, 2023 and 2022 is as follows:

	Accumulated Other Comprehensive Income/(Loss) (1)
(unaudited, in thousands)	Defined Benefit Plans			Unrealized Gains (Losses) on Debt Securities Available-for-Sale			Total
Balance at December 31, 2022	$	(535	)	$	(261,881	)	$	(262,416	)
Other comprehensive loss before reclassifications		—			(35,889	)		(35,889	)
Amounts reclassified from accumulated other comprehensive loss		226			173			399
Period change		226			(35,716	)		(35,490	)
Balance at September 30, 2023	$	(309	)	$	(297,597	)	$	(297,906	)
Balance at December 31, 2021	$	(398	)	$	(4,722	)	$	(5,120	)
Other comprehensive loss before reclassifications		—			(261,693	)		(261,693	)
Amounts reclassified from accumulated other comprehensive loss		165			8			173
Period change		165			(261,685	)		(261,520	)
Balance at September 30, 2022	$	(233	)	$	(266,407	)	$	(266,640	)

(1)All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income

The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2023 and 2022:

Details about Accumulated Other Comprehensive Income/(Loss) Components	For the Three Months Ended September 30,						For the Nine Months Ended September 30,						Affected Line Item in the Statement of Comprehensive Income
(unaudited, in thousands)	2023			2022			2023			2022
Debt securities available-for-sale (1):
Net securities losses reclassified into earnings	$	69		$	—		$	228		$	10		Net securities gains/(losses) (Non-interest income)
Related income tax effect ⁽²⁾		(17	)		—			(55	)		(2	)	Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		52			—			173			8
Defined benefit plans (3):
Amortization of net loss and prior service costs		100			73			298			218		Employee benefits (Non-interest expense)
Related income tax effect ⁽²⁾		(24	)		(18	)		(72	)		(53	)	Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		76			55			226			165
Total reclassifications for the period	$	128		$	55		$	399		$	173

(1)For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 3, “Securities.”

(2)Income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

(3)Included in the computation of net periodic pension cost. See Note 6, “Benefit Plans” for additional detail.