Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2024

Accumulated Other Comprehensive Loss [Abstract]

Schedule of Accumulated Other Comprehensive Loss

	Investment
	securities-
	with credit		Investment
	related		securities-		Investment
	impairment		all other		securities-		Cash Flow		Pension
(in thousands)	AFS		AFS		HTM		Hedge		Plan		SERP		Total
Accumulated OCL, net:
Balance - January 1, 2024		(2,482)		(13,217)		(5,201)		569		(14,263)		(1,233)		(35,827)
Other comprehensive income/(loss) before reclassifications		155		(459)		—		54		1,096		—		846
Amounts reclassified from accumulated other comprehensive income		(37)		—		118		—		149		29		259
Balance - March 31, 2024	$	(2,364)	$	(13,676)	$	(5,083)	$	623	$	(13,018)	$	(1,204)	$	(34,722)
Other comprehensive (loss)/income before reclassifications		(620)		(528)		—		(51)		(396)		—		(1,595)
Amounts reclassified from accumulated other comprehensive income		(40)		—		118		—		150		29		257
Balance - June 30, 2024	$	(3,024)	$	(14,204)	$	(4,965)	$	572	$	(13,264)	$	(1,175)	$	(36,060)
Other comprehensive income/(loss)before reclassifications		544		2,491		—		(238)		2,377		—		5,174
Amounts reclassified from accumulated other comprehensive income		(38)		—		134		—		148		29		273
Balance - September 30, 2024	$	(2,518)	$	(11,713)	$	(4,831)	$	334	$	(10,739)	$	(1,146)	$	(30,613)
	Investment
	securities-
	with credit		Investment
	related		securities-		Investment
	impairment		all other		securities-		Cash Flow		Pension
(in thousands)	AFS		AFS		HTM		Hedge		Plan		SERP		Total
Balance - January 1, 2023	$	(1,711)	$	(16,380)	$	(5,703)	$	797	$	(16,603)	$	574	$	(39,026)
Other comprehensive (loss)/income before reclassifications		(1,180)		985		—		(138)		123		—		(210)
Amounts reclassified from accumulated other comprehensive income		(37)		—		133		—		184		(1)		279
Balance - March 31, 2023	$	(2,928)	$	(15,395)	$	(5,570)	$	659	$	(16,296)	$	573	$	(38,957)
Other comprehensive income/(loss) before reclassifications		111		(1,654)		—		150		(42)		—		(1,435)
Amounts reclassified from accumulated other comprehensive loss		(40)		—		129		—		195		(2)		282
Balance - June 30, 2023	$	(2,857)	$	(17,049)	$	(5,441)	$	809	$	(16,143)	$	571	$	(40,110)
Other comprehensive   income/(loss) before   reclassifications		475		(3,201)		—		11		(1,033)		—		(3,748)
Amounts reclassified from   accumulated other   comprehensive loss		(38)		—		130		—		194		(1)		285
Balance - September 30, 2023	$	(2,420)	$	(20,250)	$	(5,311)	$	820	$	(16,982)	$	570	$	(43,573)

Components of Comprehensive Income

	Before		Tax
Components of Other Comprehensive Income	Tax		(Expense)
(in thousands)	Amount		Benefit		Net
For the nine months ended September 30, 2024
Available for sale (AFS) securities with credit related impairment:
Unrealized holding gains	$	103	$	(24)	$	79
Less: accretable yield recognized in income		152		(37)		115
Net unrealized loss on investments with credit related impairment		(49)		13		(36)
Available for sale securities – all other:
Unrealized holding gains		2,044		(540)		1,504
Held to maturity securities:
Unrealized holding gains on securities transferred to held to maturity		—		—		—
Less: amortization recognized in income		(503)		133		(370)
Net unrealized gains on HTM securities		503		(133)		370
Cash flow hedges:
Unrealized holding losses		(319)		84		(235)
Pension Plan:
Unrealized net actuarial gains		4,181		(1,104)		3,077
Less: amortization of unrecognized losses		(608)		161		(447)
Net pension plan liability adjustment		4,789		(1,265)		3,524
SERP:
Unrealized net actuarial gain		—		—		—
Less: amortization of unrecognized losses		(118)		31		(87)
Net SERP liability adjustment		118		(31)		87
Other comprehensive income	$	7,086	$	(1,872)	$	5,214

	Before		Tax
Components of Other Comprehensive Loss	Tax		(Expense)
(in thousands)	Amount		Benefit		Net
For the nine months ended September 30, 2023
Available for sale (AFS) securities with credit related impairment:
Unrealized holding losses	$	(777)	$	183	$	(594)
Less: accretable yield recognized in income		152		(37)		115
Net unrealized losses on investments with credit related impairment		(929)		220		(709)
Available for sale securities – all other:
Unrealized holding losses		(5,065)		1,195		(3,870)
Held to maturity securities:
Unrealized holding gains on securities transferred to held to maturity		—		—		—
Less: amortization recognized in income		(513)		121		(392)
Net unrealized gains on HTM securities		513		(121)		392
Cash flow hedges:
Unrealized holding gains		30		(7)		23
Pension Plan:
Unrealized net actuarial losses		(1,250)		298		(952)
Less: amortization of unrecognized losses		(750)		177		(573)
Net pension plan liability adjustment		(500)		121		(379)
SERP:
Unrealized net actuarial gains		—		—		—
Less: amortization of unrecognized gains		6		(2)		4
Net SERP liability adjustment		(6)		2		(4)
Other comprehensive loss	$	(5,957)	$	1,410	$	(4,547)

Components of Other Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended September 30, 2024
Available for sale (AFS) securities with credit related impairment:
Unrealized holding gains	$	740	$	(196)	$	544
Less: accretable yield recognized in income		51		(13)		38
Net unrealized losses on investments with credit related impairment		689		(183)		506
Available for sale securities – all other:
Unrealized holding gains		3,384		(893)		2,491
Held to maturity securities:
Unrealized holding gains		—		—		—
Less: amortization recognized in income		(182)		48		(134)
Net unrealized gains on HTM securities		182		(48)		134
Cash flow hedges:
Unrealized holding losses		(323)		85		(238)
Pension Plan:
Unrealized net actuarial gains		3,229		(852)		2,377
Less: amortization of unrecognized loss		(202)		54		(148)
Net pension plan liability adjustment		3,431		(906)		2,525
SERP:
Unrealized net actuarial loss		—		—		—
Less: amortization of unrecognized losses		(39)		10		(29)
Net SERP liability adjustment		39		(10)		29
Other comprehensive income	$	7,402	$	(1,955)	$	5,447

Components of Other Comprehensive Loss (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended September 30, 2023
Available for sale (AFS) securities with credit related impairment:
Unrealized holding gains	$	633	$	(158)	$	475
Less: accretable yield recognized in income		51		(13)		38
unrealized losses on investments with credit related impairment		582		(145)		437
Available for sale securities – all other:
Unrealized holding losses		(4,183)		982		(3,201)
Held to maturity securities:
Unrealized holding gains		—		—		—
Less: amortization recognized in income		(167)		37		(130)
Net unrealized gains on HTM securities		167		(37)		130
Cash flow hedges:
Unrealized holding gains		14		(3)		11
Pension Plan:
Unrealized net actuarial loss		(1,352)		319		(1,033)
Less: amortization of unrecognized loss		(251)		57		(194)
Net pension plan liability adjustment		(1,101)		262		(839)
SERP:
Unrealized net actuarial loss		—		—		—
Less: amortization of unrecognized gains		2		(1)		1
Net SERP liability adjustment		(2)		1		(1)
Other comprehensive loss	$	(4,523)	$	1,060	$	(3,463)

Reclassification out of Accumulated Other Comprehensive Income

Amounts Reclassified from	Nine Months Ended
Accumulated Other Comprehensive Income/(Loss)	September 30,				Affected Line Item in the Statement
(in thousands)	2024		2023		Where Net Income is Presented
Net unrealized gains on available for sale investment securities with credit related impairment:
Accretable yield	$	152	$	152	Interest income on taxable investment securities
Taxes		(37)		(37)	Credit for income tax expense
	$	115	$	115	Net of tax
Net unrealized losses on held to maturity securities:
Amortization	$	(503)	$	(513)	Interest income on taxable investment securities
Taxes		133		121	Provision for income tax expense
	$	(370)	$	(392)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized losses	$	(608)	$	(750)	Other Expense
Taxes		161		177	Provision for income tax expense
	$	(447)	$	(573)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized (losses)/gains	$	(118)	$	6	Other Expense
Taxes		31		(2)	Provision/(credit) for income tax expense
	$	(87)	$	4	Net of tax
Total reclassifications for the period	$	(789)	$	(846)	Net of tax

Amounts Reclassified from	Three Months Ended
Accumulated Other Comprehensive Income/(Loss)	September 30,				Affected Line Item in the Statement
(in thousands)	2024		2023		Where Net Income is Presented
Net unrealized gains on available for sale investment securities with credit related impairment:
Accretable yield	$	51	$	51	Interest income on taxable investment securities
Taxes		(13)		(13)	Credit for income tax expense
	$	38	$	38	Net of tax
Net unrealized losses on held to maturity securities:
Amortization	$	(182)	$	(167)	Interest income on taxable investment securities
Taxes		48		37	Provision for income tax expense
	$	(134)	$	(130)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized losses	$	(202)	$	(251)	Other expense
Taxes		54		57	Provision for income tax expense
	$	(148)	$	(194)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized (losses)/gains	$	(39)	$	2	Other expense
Taxes		10		(1)	Provision/(credit) for income tax expense
	$	(29)	$	1	Net of tax
Total reclassifications for the period	$	(273)	$	(285)	Net of tax