XML 63 R50.htm IDEA: XBRL DOCUMENT v3.22.4
Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Benefit Cost
Net periodic benefit cost of these plans for the years ended December 31, was as follows:
202220212020
 (dollars in thousands)
Service cost$— $— $— 
Interest cost on projected benefit obligation35 23 23 
Amortization of transition obligation— — — 
Amortization of prior service cost75 76 — 
Gain amortization(96)(27)(52)
Net periodic benefit cost$14 $72 $(29)
Schedule of Changes in Benefit Obligations and Plan Assets
The following table sets forth the change in the benefit obligation and plan assets as of December 31:
20222021
 (dollars in thousands)
Change in Benefit Obligation
Benefit obligation at beginning of year$986 $1,372 
Service cost— — 
Interest cost22 23 
Amendments— — 
Actuarial gain(212)(302)
Net benefits paid(88)(107)
Benefit obligation at end of year708 986 
Change in Plan Assets
Fair value of plan assets at beginning of year— — 
Actual return on plan assets— — 
Employer contributions88 107 
Net benefits paid(88)(107)
Fair value of plan assets at end of year— — 
Funded Status at End of Year708 986 
Unrecognized prior service cost(386)(461)
Unrecognized net gain728 584 
Amounts recognized in retained earnings$1,050 $1,109 
Schedule of Amounts Recognized as Other Liabilities
As of December 31, the funded status of the plan is:
20222021
 (dollars in thousands)
Amounts Recognized in the Statement of Financial Condition as Other liabilities$708 $986 
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income
The following table identifies the related tax effects allocated to each component of other comprehensive income in the Consolidated Statements of Comprehensive Income as of December 31. Reclassification adjustments related to securities available for sale are included in the “Net securities gains” line in the Consolidated Statements of Income.
202220212020
Pretax AmountTax (Expense) BenefitNet of Tax AmountPretax AmountTax (Expense) BenefitNet of Tax AmountPretax AmountTax (Expense) BenefitNet of Tax Amount
(dollars in thousands)
Unrealized gains (losses) on securities:
Unrealized holding (losses) gains on securities arising during the period$(131,838)$27,686 $(104,152)$(29,892)$6,278 $(23,614)$19,981 $(4,196)$15,785 
Reclassification adjustment for gains on securities included in net income(2)— (2)(16)3 (13)(70)15 (55)
Total unrealized (losses) gains on securities(131,840)27,686 (104,154)(29,908)6,281 (23,627)19,911 (4,181)15,730 
Unrealized gains (losses) on derivatives:
Unrealized holding losses on derivatives arising during the period(31,573)6,630 (24,943)(3,356)705 (2,651)(4,467)938 (3,529)
Total unrealized losses on derivatives(31,573)6,630 (24,943)(3,356)705 (2,651)(4,467)938 (3,529)
Unrealized gains (losses) for postretirement obligations:
Prior service cost76 (16)60 76 (16)60 (537)113 (424)
Net gain (loss)143 (30)113 275 (58)217 (155)32 (123)
Total unrealized gains (losses) for postretirement obligations219 (46)173 351 (74)277 (692)145 (547)
Total other comprehensive (loss) income$(163,194)$34,270 $(128,924)$(32,913)$6,912 $(26,001)$14,752 $(3,098)$11,654 
The following table sets forth the amounts recognized in accumulated other comprehensive income that have not yet been recognized as components of net periodic benefit costs as of December 31:
202220212020
 (dollars in thousands)
Amounts recognized in accumulated other comprehensive income, net of tax:
Net (gain) loss$(575)$(461)$(243)
Prior service cost305 364 424 
Total$(270)$(97)$181 
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligation
Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:
202220212020
Weighted-Average Assumptions
Discount rate5.31 %2.38 %1.83 %
Health care cost trend: Initial6.50 %5.90 %5.95 %
Health care cost trend: Ultimate4.75 %4.75 %4.75 %
Year ultimate reached202820272026
Schedule of Weighted-Average Assumptions Used to Determine Net Periodic Cost
Weighted-average assumptions used to determine the benefit obligation as of December 31 are as follows:
202220212020
Weighted-Average Assumptions
Discount rate5.31 %2.38 %1.83 %
Health care cost trend: Initial6.50 %5.90 %5.95 %
Health care cost trend: Ultimate4.75 %4.75 %4.75 %
Year ultimate reached202820272026
Weighted-average assumptions used to determine the net benefit costs as of December 31 are as follows: 
202220212020
Weighted-Average Assumptions for Net Periodic Cost
Discount rate2.38 %1.83 %2.88 %
Health care cost trend: Initial5.90 %5.95 %5.55 %
Health care cost trend: Ultimate4.75 %4.75 %4.75 %
Year ultimate reached202720262025
Corridor10.00 %10.00 %10.00 %
Recognition period for gains and losses9.910.410.9
Schedule of Projected Benefit Payments
As of December 31, 2022, the projected benefit payments for the next ten years are as follows:
Projected Benefit
        Payments         
 (dollars in thousands)
2023$105 
202499 
202593 
202687 
202779 
2028 - 2032287 
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income The estimated costs that will be amortized from accumulated other comprehensive income into net periodic cost for 2023 are as follows:
 Postretirement
Benefits
 (dollars in thousands)
Net gain$(96)
Prior service cost76 
Total$(20)