Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Components of Other Comprehensive Income (Loss) and Related Tax Effects

The components of other comprehensive income (loss) and related tax effects are as follows:

	Three months ended March 31,
(in thousands)	2023		2022
Unrealized holding gains (losses) on available for sale securities before reclassifications	$	34,540	$	(111,302)
Amounts reclassified out of AOCI:
Realized loss on debt securities	164		—
Unrealized holding gains (losses) on available for sale securities after reclassifications	34,704		(111,302)
Tax effect	(10,260)		32,905
Unrealized holding gains (losses) on available for sale securities, net of tax	24,444		(78,397)
Change in unfunded status of the supplemental retirement plans before reclassifications	114		63
Amounts reclassified out of AOCI:
Amortization of prior service cost	—		(7)
Amortization of actuarial losses	(114)		2
Total amounts reclassified out of accumulated other comprehensive (loss) income	(114)		(5)
Change in unfunded status of the supplemental retirement plans after reclassifications	—		58
Tax effect	—		—
Change in unfunded status of the supplemental retirement plans, net of tax	—		58
Change in joint beneficiary agreement liability before reclassifications	—		—
Tax effect	—		—
Change in joint beneficiary agreement liability before reclassifications, net of tax	—		—
Total other comprehensive income (loss)	$	24,444	$	(78,339)

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows:

(in thousands)	March 31, 2023		December 31, 2022
Net unrealized gain on available for sale securities	$	(255,845)	$	(290,549)
Tax effect	75,637		85,897
Unrealized holding gain on available for sale securities, net of tax	(180,208)		(204,652)
Unfunded status of the supplemental retirement plans	13,901		13,901
Tax effect	(4,110)		(4,110)
Unfunded status of the supplemental retirement plans, net of tax	9,791		9,791
Joint beneficiary agreement liability	956		956
Tax effect	—		—
Joint beneficiary agreement liability, net of tax	956		956
Accumulated other comprehensive loss	$	(169,461)	$	(193,905)