Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Benefit Plans

Schedule of amounts recognized in other comprehensive income from benefit plans

	Pension Benefits						Other Benefits
(dollars in thousands)	2021		2020		2019		2021		2020		2019
Amounts arising during the year:
Net loss (gain) on pension assets	$	3,581	$	(4,839)	$	(16,278)	$	—	$	—	$	—
Net (gain) loss on pension obligations		(4,614)		14,935		21,512		(2,074)		303		540
Reclassification adjustments recognized as components of net periodic benefit cost during the year:
Net (gain) loss		(6,961)		(5,806)		(6,995)		48		211		385
Prior service credit		—		—		—		—		51		429
Amount recognized in other comprehensive income	$	(7,994)	$	4,290	$	(1,761)	$	(2,026)	$	565	$	1,354

Schedule of amounts within accumulated other comprehensive income not yet recognized in net periodic benefit cost

	Pension Benefits				Other Benefits
(dollars in thousands)	2021		2020		2021		2020
Net actuarial loss (gain)	$	36,357	$	44,351	$	(3,094)	$	(1,068)
Prior service credit		—		—		—		—
Total, pretax effect		36,357		44,351		(3,094)		(1,068)
Tax impact		(9,698)		(11,831)		825		285
Ending balance in accumulated other comprehensive loss	$	26,659	$	32,520	$	(2,269)	$	(783)

Summary of changes to projected or accumulated benefit obligation

	Pension Benefits				Other Benefits
(dollars in thousands)	2021		2020		2021		2020
Benefit obligation at beginning of year	$	219,392	$	213,285	$	22,538	$	21,305
Service cost		—		—		874		768
Interest cost		5,065		6,519		515		640
Actuarial (gain) loss		(4,614)		14,935		(2,074)		303
Benefit payments		(15,411)		(15,347)		(491)		(478)
Benefit obligation at end of year	$	204,432	$	219,392	$	21,362	$	22,538

Summary of changes to fair value of plan assets

	Pension Benefits				Other Benefits
(dollars in thousands)	2021		2020		2021		2020
Fair value of plan assets at beginning of year	$	114,795	$	112,659	$	—	$	—
Actual return on plan assets		(536)		9,637		—		—
Benefit payments from trust		(7,611)		(7,501)		—		—
Fair value of plan assets at end of year	$	106,648	$	114,795	$	—	$	—

Summary of funded status of plans

	Pension Benefits				Other Benefits
(dollars in thousands)	2021		2020		2021		2020
Pension assets for overfunded plans	$	15,345	$	16,237	$	—	$	—
Pension liabilities for underfunded plans		(113,129)		(120,834)		(21,362)		(22,538)
Funded status	$	(97,784)	$	(104,597)	$	(21,362)	$	(22,538)

Schedule of projected and accumulated benefit obligation and fair value of plan assets

	Funded Pension Plan				Unfunded Pension Plans				Total Pension Plans
(dollars in thousands)	2021		2020		2021		2020		2021		2020
Projected benefit obligation	$	91,303	$	98,558	$	113,129	$	120,834	$	204,432	$	219,392
Accumulated benefit obligation		91,303		98,558		113,129		120,766		204,432		219,324
Fair value of plan assets		106,648		114,795		—		—		106,648		114,795
Overfunded (underfunded) portion of PBO/ABO		15,345		16,237		(113,129)		(120,834)		(97,784)		(104,597)

Schedule of components of net periodic benefit cost

	Income line item where recognized in	Pension Benefits						Other Benefits
(dollars in thousands)	the consolidated statements of income	2021		2020		2019		2021		2020		2019
Service cost	Salaries and employee benefits	$	—	$	—	$	14	$	874	$	768	$	710
Interest cost	Other noninterest expense		5,065		6,519		8,261		515		640		808
Expected return on plan assets	Other noninterest expense		(3,044)		(4,800)		(4,585)		—		—		—
Prior service credit	Other noninterest expense		—		—		—		—		(51)		(429)
Recognized net actuarial loss (gain)	Other noninterest expense		6,961		5,806		6,995		(48)		(211)		(385)
Total net periodic benefit cost		$	8,982	$	7,525	$	10,685	$	1,341	$	1,146	$	704

Schedule of funded pension benefit amounts included in pension benefits

	Funded Pension Benefits
(dollars in thousands)	2021		2020		2019
Interest cost	$	2,261	$	2,946	$	3,808
Expected return on plan assets		(3,044)		(4,800)		(4,585)
Recognized net actuarial loss		1,609		1,421		3,714
Total net periodic benefit cost	$	826	$	(433)	$	2,937

Schedule of assumptions used to determine benefit obligations and net periodic benefit cost

	FHI ERP Pension Benefits				SERP Pension Benefits				Other Benefits
	2021		2020		2021		2020		2021		2020
Discount rate	2.77	%	2.37	%	2.77	%	2.37	%	2.77	%	2.37	%
Rate of compensation increase	NA		NA		NA		NA		NA		NA

	FHI ERP Pension Benefits						SERP Pension Benefits						Other Benefits
	2021		2020		2019		2021		2020		2019		2021		2020		2019
Discount rate	2.37	%	3.16	%	4.30	%	2.37	%	3.16	%	4.30	%	2.37	%	3.16	%	4.30	%
Expected long-term return on plan assets	2.75	%	4.40	%	4.75	%	NA		NA		NA		NA		NA		NA
Rate of compensation increase	NA		NA		NA		NA		NA		4.00	%	NA		NA		NA

Schedule of assumed healthcare cost trend rates

	2021		2020		2019
Healthcare cost trend rate assumed for next year	6.00	%	6.25	%	6.50	%
Rate to which the cost trend is assumed to decline (the ultimate trend rate)	5.00	%	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2026		2026		2026

Schedule of allocation of employee retirement plan assets

	Asset Allocation
	2021		2020
Equity securities	11	%	13	%
Debt securities	85	%	85	%
Other securities	4	%	2	%
Total	100	%	100	%

Schedule of target allocation of employee retirement plan assets

	Target
	Allocation
Equity securities	10	%
Debt securities	88	%
Other securities	2	%

Schedule of expected future benefit payments

	Pension		Other
(dollars in thousands)	Benefits		Benefits
2022	$	15,787	$	1,204
2023		15,466		1,321
2024		15,053		1,412
2025		15,191		1,455
2026		15,268		1,494
2027 to 2031		65,836		7,905

Schedule of fair value of employee retirement plan assets

	December 31, 2021
	Quoted Prices		Significant
	In Active		Other		Significant
	Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(dollars in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Asset classes:
Cash and cash equivalents	$	4,451	$	—	$	—	$	4,451
Fixed income - U.S. Treasury securities		—		8,343		—		8,343
Fixed income - U.S. government agency securities		—		9,674		—		9,674
Fixed income - U.S. corporate securities		—		69,926		—		69,926
Fixed income - municipal securities		—		495		—		495
Fixed income - international securities		1,779		—		—		1,779
Equity - large-cap exchange-traded funds		7,840		—		—		7,840
Equity - mid-cap exchange-traded funds		1,360		—		—		1,360
Equity - small-cap exchange-traded funds		654		—		—		654
Equity - international funds		2,126		—		—		2,126
Total	$	18,210	$	88,438	$	—	$	106,648

	December 31, 2020
	Quoted Prices		Significant
	In Active		Other		Significant
	Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(dollars in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Asset classes:
Cash and cash equivalents	$	2,576	$	—	$	—	$	2,576
Fixed income - U.S. Treasury securities		—		6,776		—		6,776
Fixed income - U.S. government agency securities		—		12,441		—		12,441
Fixed income - U.S. corporate securities		—		70,401		—		70,401
Fixed income - municipal securities		—		521		—		521
Fixed income - mutual funds		5,626		—		—		5,626
Fixed income - international securities		1,980		—		—		1,980
Equity - large-cap exchange-traded funds		9,321		—		—		9,321
Equity - mid-cap exchange-traded funds		1,566		—		—		1,566
Equity - small-cap exchange-traded funds		785		—		—		785
Equity - international funds		2,802		—		—		2,802
Total	$	24,656	$	90,139	$	—	$	114,795

Summary of change in net actuarial loss and amortization

			Income
			Tax
	Pre-tax		Benefit		Net of
(dollars in thousands)	Amount		(Expense)		Tax
Accumulated other comprehensive income at December 31, 2020	$	43,098	$	(11,494)	$	31,604
Year ended December 31, 2021
Pension and other benefits:
Net actuarial gains arising during the year		3,107		(829)		2,278
Amortization of net loss included in net income		6,913		(1,844)		5,069
Net change in pension and other benefits		10,020		(2,673)		7,347
Investment securities:
Unrealized net losses arising during the year		(218,983)		58,414		(160,569)
Reclassification of net gains to net income:
Investment securities gains, net		(102)		27		(75)
Net change in investment securities		(219,085)		58,441		(160,644)
Other comprehensive loss		(209,065)		55,768		(153,297)
Accumulated other comprehensive loss at December 31, 2021	$	(165,967)	$	44,274	$	(121,693)

			Income
			Tax
	Pre-tax		Benefit		Net of
(dollars in thousands)	Amount		(Expense)		Tax
Accumulated other comprehensive loss at December 31, 2019	$	(43,450)	$	11,701	$	(31,749)
Year ended December 31, 2020
Pension and other benefits:
Net actuarial losses arising during the year		(10,399)		2,774		(7,625)
Prior service credit		(51)		14		(37)
Amortization of net loss included in net income		5,595		(1,492)		4,103
Change in Company tax rate		—		(96)		(96)
Net change in pension and other benefits		(4,855)		1,200		(3,655)
Investment securities:
Unrealized net gains arising during the year		91,289		(24,365)		66,924
Reclassification of net losses to net income:
Investment securities losses, net		114		(30)		84
Net change in investment securities		91,403		(24,395)		67,008
Other comprehensive income		86,548		(23,195)		63,353
Accumulated other comprehensive income at December 31, 2020	$	43,098	$	(11,494)	$	31,604

			Income
			Tax
	Pre-tax		Benefit		Net of
(dollars in thousands)	Amount		(Expense)		Tax
Accumulated other comprehensive loss at December 31, 2018	$	(180,915)	$	48,720	$	(132,195)
Year ended December 31, 2019
Pension and other benefits:
Net actuarial losses arising during the year		(5,774)		1,555		(4,219)
Prior service credit		(429)		115		(314)
Amortization of net loss included in net income		6,610		(1,780)		4,830
Net change in pension and other benefits		407		(110)		297
Investment securities:
Unrealized net gains arising during the year		134,343		(36,178)		98,165
Reclassification of net gains to net income:
Investment securities losses, net		2,715		(731)		1,984
Net change in investment securities		137,058		(36,909)		100,149
Other comprehensive income		137,465		(37,019)		100,446
Accumulated other comprehensive loss at December 31, 2019	$	(43,450)	$	11,701	$	(31,749)

Pension and other benefits, net actuarial losses arising during the period

Benefit Plans

Summary of change in net actuarial loss and amortization

	Pension Benefits				Other Benefits
(dollars in thousands)	2021		2020		2021		2020
Net actuarial loss (gain) at beginning of year	$	44,351	$	40,061	$	(1,068)	$	(1,582)
Amortization cost		(6,961)		(5,806)		48		211
Liability loss		(4,614)		14,935		(2,074)		303
Asset loss (gain)		3,581		(4,839)		—		—
Net actuarial loss (gain) at end of year	$	36,357	$	44,351	$	(3,094)	$	(1,068)