Other Comprehensive Income

12 Months Ended

Dec. 31, 2022

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Other Comprehensive Income (Loss)

Accumulated Other Comprehensive (Loss) Income

Other comprehensive (loss) income components, net of income tax, are shown in the following table for the years ended December 31, 2022, 2021 and 2020.

(in thousands)		Changes in Pension Plan assets and benefit obligations		Unrealized gains (losses) on AFS debt securities		Unrealized net holding loss on cash flow hedge		Total
Beginning balance at January 1, 2022		$	(5,792)	$	21,153	$	(206)	$	15,155
	Other comprehensive (loss) income before reclassifications	(876)		(116,867)		154		$	(117,589)
	Amounts reclassified from accumulated other comprehensive loss	(12)		—		52		$	40
Net current period other comprehensive (loss) income		$	(888)	$	(116,867)	$	206	$	(117,549)
Ending balance at December 31, 2022		$	(6,680)	$	(95,714)	$	—	$	(102,394)
Beginning balance at January 1, 2021		$	(34,421)	$	40,690	$	(698)	$	5,571
	Other comprehensive income (loss) before reclassifications	26,875		(19,537)		492		$	7,830
	Amounts reclassified from accumulated other comprehensive income	1,754		—		—		$	1,754
Net current period other comprehensive income (loss)		$	28,629	$	(19,537)	$	492	$	9,584
Ending balance at December 31, 2021		$	(5,792)	$	21,153	$	(206)	$	15,155
Beginning balance at January 1, 2020		$	(26,674)	$	17,539	$	(454)	$	(9,589)
	Other comprehensive (loss) income before reclassifications	(8,675)		25,747		(244)		$	16,828
	Amounts reclassified from accumulated other comprehensive income	928		(2,596)		—		$	(1,668)
Net current period other comprehensive (loss) income		$	(7,747)	$	23,151	$	(244)	$	15,160
Ending balance at December 31, 2020		$	(34,421)	$	40,690	$	(698)	$	5,571

The following table provides information concerning amounts reclassified out of accumulated other comprehensive (loss) income for the years ended December 31, 2022, 2021 and 2020:

		Amount Reclassified from Accumulated Other Comprehensive (Loss) Income						Affected Line Item in the Consolidated Statements of Income
(In thousands)		2022		2021		2020
Amortization of defined benefit pension items
	Accretion of prior service credit	$	(15)	$	(15)	$	(15)	Employee benefits
	Amortization of net loss	—		2,235		1,190		Employee benefits
(Loss) Income before income taxes		(15)		2,220		1,175		Income before income taxes
	Income tax effect	(3)		466		247		Income taxes
	Net of income tax	$	(12)	$	1,754	$	928	Net income
Unrealized gains & losses on AFS debt securities
	Net gain on the sale of debt securities	$	—	$	—	$	(3,286)	Net gain on the sale of debt securities
Income before income taxes		—		—		(3,286)		Income before income taxes
	Income tax effect	—		—		(690)		Income taxes
	Net of income tax	$	—	$	—	$	(2,596)	Net income
Unrealized net holding loss on cash flow hedge
	Loss due to early termination of borrowing interest rate swap	$	66	$	—	$	—	Miscellaneous expense
Loss before income taxes		66		—		—		Income before income taxes
	Income tax effect	14		—		—		Income taxes
	Net of income tax	$	52	$	—	$	—	Net income