Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Accumulated Other Comprehensive Income (Loss)

12.     Accumulated Other Comprehensive Income (Loss):

The following tables set forth the changes in accumulated other comprehensive income (loss) by component for the periods indicated:

	For the three months ended March 31, 2023
	Unrealized Gains (Losses) on						Fair Value
	Available for Sale		Cash flow		Defined Benefit		Option Elected
	Securities		Hedges		Pension Items		on Liabilities		Total
	(In thousands)
Beginning balance, net of tax	$	(63,106)	$	25,380	$	(275)	$	1,513	$	(36,488)
Other comprehensive income before reclassifications, net of tax		3,133		(2,192)		—		(74)		867
Amounts reclassified from accumulated other comprehensive income, net of tax		854		(2,948)		(69)		—		(2,163)
Net current period other comprehensive income, net of tax		3,987		(5,140)		(69)		(74)		(1,296)
Ending balance, net of tax	$	(59,119)	$	20,240	$	(344)	$	1,439	$	(37,784)

	For the three months ended March 31, 2022
	Unrealized Gains (Losses) on						Fair Value
	Available for Sale		Cash flow		Defined Benefit		Option Elected
	Securities		Hedges		Pension Items		on Liabilities		Total
	(In thousands)
Beginning balance, net of tax	$	(6,272)	$	(1,406)	$	(1,282)	$	2,276	$	(6,684)
Other comprehensive income before reclassifications, net of tax		(23,427)		12,941		—		(135)		(10,621)
Amounts reclassified from accumulated other comprehensive income, net of tax		—		1,810		(9)		—		1,801
Net current period other comprehensive income (loss), net of tax		(23,427)		14,751		(9)		(135)		(8,820)
Ending balance, net of tax	$	(29,699)	$	13,345	$	(1,291)	$	2,141	$	(15,504)

The following tables set forth significant amounts reclassified from accumulated other comprehensive income (loss) by component for the periods indicated:

For the three months ended March 31, 2023
	Amounts Reclassified from
Details about Accumulated Other	Accumulated Other			Affected Line Item in the Statement
Comprehensive Loss Components	Comprehensive Loss			Where Net Income is Presented
(In thousands)
Fair Value hedges:
Interest rate swaps benefit (expense)	$	(1,238)		Interest and dividend income
		384		Provision for income taxes
	$	(854)
Cash flow hedges:
Interest rate swaps benefit (expense)	$	4,255		Interest expense
		(1,307)		Provision for income taxes
	$	2,948
Amortization of defined benefit pension items:
Actuarial losses benefit (expense)	$	100	(1)	Other operating expenses
		(31)		Provision for income taxes
	$	69

(1) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 9 (“Pension and Other Postretirement Benefit Plans”) for additional information

For the three months ended March 31, 2022
	Amounts Reclassified from
Details about Accumulated Other	Accumulated Other			Affected Line Item in the Statement
Comprehensive Loss Components	Comprehensive Loss			Where Net Income is Presented
(In thousands)
Cash flow hedges:
Interest rate swaps benefit (expense)	$	(2,650)		Interest expense
		840		Provision for income taxes
	$	(1,810)
Amortization of defined benefit pension items:
Actuarial losses benefit (expense)	$	6	(1)	Other operating expenses
Prior service credits benefit (expense)		7	(1)	Other operating expenses
		13		Total before tax
		(4)		Provision for income taxes
	$	9

(1) These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 9 (“Pension and Other Postretirement Benefit Plans”) for additional information