Other Comprehensive Income

12 Months Ended

Dec. 31, 2023

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

Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

Other comprehensive income (loss) components, net of income tax, are shown in the following table for the years ended December 31, 2023, 2022 and 2021.

(in thousands)		Changes in Pension Plan assets and benefit obligations		Unrealized (losses) gains on AFS debt securities		Unrealized net holding loss on cash flow hedge		Total
Beginning balance at January 1, 2023		$	(6,680)	$	(95,714)	$	—	$	(102,394)
	Other comprehensive income before reclassifications	8,334		21,610		—		29,944
	Amounts reclassified from accumulated other comprehensive income	38		6,221		—		6,259
Net current period other comprehensive income		$	8,372	$	27,831	$	—	$	36,203
Ending balance at December 31, 2023		$	1,692	$	(67,883)	$	—	$	(66,191)
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

The following table provides information concerning amounts reclassified out of accumulated other comprehensive (loss) income for the years ended December 31, 2023, 2022 and 2021:

		Amount Reclassified from Accumulated Other Comprehensive (Loss) Income						Affected Line Item in the Consolidated Statements of Income
(In thousands)		2023		2022		2021
Amortization of defined benefit pension items
	Amortization of prior service cost (credit)	$	48	$	(15)	$	(15)	Employee benefits
	Amortization of net actuarial loss	—		—		2,235		Employee benefits
Income (loss) before income taxes		48		(15)		2,220		Income before income taxes
	Income tax effect	10		(3)		466		Income taxes
	Net of income tax	$	38	$	(12)	$	1,754	Net income
Unrealized losses on AFS debt securities
	Net loss on the sale of debt securities	$	7,875	$	—	$	—	Loss on the sale of debt securities, net
Loss before income taxes		7,875		—		—		Income before income taxes
	Income tax effect	1,654		—		—		Income taxes
	Net of income tax	$	6,221	$	—	$	—	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