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Other Comprehensive Income (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Schedule of Changes in the Components of Other Comprehensive Income | Changes in the components of other comprehensive income, net of tax, were as follows for the periods presented:
| Pre-Tax |  | Tax Expense (Benefit) |  | Net of Tax
Three months ended June 30, 2024 |  |  |  |  |
Securities available for sale: |  |  |  |  |
Unrealized holding gains on securities | $ | 648 |  |  | $ | 180 |  |  | $ | 468 |
Amortization of unrealized holding losses on securities transferred to the held to maturity category | 3,252 |  |  | 831 |  |  | 2,421 |
Total securities available for sale | 3,900 |  |  | 1,011 |  |  | 2,889 |
Derivative instruments: |  |  |  |  |
Unrealized holding losses on derivative instruments | (188) |  |  | (47) |  |  | (141) |
Total derivative instruments | (188) |  |  | (47) |  |  | (141) |
Defined benefit pension and post-retirement benefit plans: |  |  |  |  |
Amortization of net actuarial loss recognized in net periodic pension cost | 105 |  |  | 26 |  |  | 79 |
Total defined benefit pension and post-retirement benefit plans | 105 |  |  | 26 |  |  | 79 |
Total other comprehensive income | $ | 3,817 |  |  | $ | 990 |  |  | $ | 2,827 |
Three months ended June 30, 2023 |  |  |  |  |
Securities available for sale: |  |  |  |  |
Unrealized holding losses on securities | $ | (21,283) |  |  | $ | (5,353) |  |  | $ | (15,930) |
Reclassification adjustment for losses realized in net income | 22,438 |  |  | 5,622 |  |  | 16,816 |
Amortization of unrealized holding losses on securities transferred to the held to maturity category | 3,026 |  |  | 774 |  |  | 2,252 |
Total securities available for sale | 4,181 |  |  | 1,043 |  |  | 3,138 |
Derivative instruments: |  |  |  |  |
Unrealized holding losses on derivative instruments | (3,167) |  |  | (806) |  |  | (2,361) |
Total derivative instruments | (3,167) |  |  | (806) |  |  | (2,361) |
Defined benefit pension and post-retirement benefit plans: |  |  |  |  |
Amortization of net actuarial loss recognized in net periodic pension cost | 115 |  |  | 29 |  |  | 86 |
Total defined benefit pension and post-retirement benefit plans | 115 |  |  | 29 |  |  | 86 |
Total other comprehensive income | $ | 1,129 |  |  | $ | 266 |  |  | $ | 863 |
| Pre-Tax |  | Tax Expense (Benefit) |  | Net of Tax
Six months ended June 30, 2024 |  |  |  |  |
Securities available for sale: |  |  |  |  |
Unrealized holding losses on securities | $ | (5,544) |  |  | $ | (1,378) |  |  | $ | (4,166) |
Amortization of unrealized holding losses on securities transferred to the held to maturity category | 6,527 |  |  | 1,668 |  |  | 4,859 |
Total securities available for sale | 983 |  |  | 290 |  |  | 693 |
Derivative instruments: |  |  |  |  |
Unrealized holding losses on derivative instruments | (953) |  |  | (242) |  |  | (711) |
Total derivative instruments | (953) |  |  | (242) |  |  | (711) |
Defined benefit pension and post-retirement benefit plans: |  |  |  |  |
Amortization of net actuarial loss recognized in net periodic pension cost | 211 |  |  | 53 |  |  | 158 |
Total defined benefit pension and post-retirement benefit plans | 211 |  |  | 53 |  |  | 158 |
Total other comprehensive income | $ | 241 |  |  | $ | 101 |  |  | $ | 140 |
Six months ended June 30, 2023 |  |  |  |  |
Securities available for sale: |  |  |  |  |
Unrealized holding losses on securities | $ | (569) |  |  | $ | (170) |  |  | $ | (399) |
Reclassification adjustment for losses realized in net income | 22,438 |  |  | 5,622 |  |  | 16,816 |
Amortization of unrealized holding losses on securities transferred to the held to maturity category | 6,154 |  |  | 1,574 |  |  | 4,580 |
Total securities available for sale | 28,023 |  |  | 7,026 |  |  | 20,997 |
Derivative instruments: |  |  |  |  |
Unrealized holding losses on derivative instruments | (4,823) |  |  | (1,230) |  |  | (3,593) |
Total derivative instruments | (4,823) |  |  | (1,230) |  |  | (3,593) |
Defined benefit pension and post-retirement benefit plans: |  |  |  |  |
Amortization of net actuarial loss recognized in net periodic pension cost | 231 |  |  | 59 |  |  | 172 |
Total defined benefit pension and post-retirement benefit plans | 231 |  |  | 59 |  |  | 172 |
Total other comprehensive income | $ | 23,431 |  |  | $ | 5,855 |  |  | $ | 17,576 |
Schedule of Accumulated Balances for Each Component of Other Comprehensive Income, Net of Tax | The accumulated balances for each component of other comprehensive loss, net of tax, were as follows as of the dates presented:
| June 30, 2024 |  | December 31, 2023
Unrealized losses on securities | $ | (162,791) |  |  | $ | (163,484) |
Unrealized gains on derivative instruments | 16,340 |  |  | 17,051 |
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations | (7,665) |  |  | (7,823) |
Total accumulated other comprehensive loss | $ | (154,116) |  |  | $ | (154,256) |

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