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Comprehensive Income/(Loss) (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The activity in accumulated other comprehensive income/(loss) for the three months ended March 31, 2025 and 2024 is as follows:


		Accumulated Other Comprehensive Income/(Loss) (1)
(unaudited, in thousands)		Defined Benefit Plans				Unrealized Gains (Losses) on Debt Securities Available-for-Sale				Total
Balance at December 31, 2024		$	5,124			$	(223,756	)		$	(218,632	)
Other comprehensive income before reclassifications			—				28,136				28,136
Amounts reclassified from accumulated other comprehensive income			(128	)			(86	)			(214	)
Period change			(128	)			28,050				27,922
Balance at March 31, 2025		$	4,996			$	(195,706	)		$	(190,710	)

Balance at December 31, 2023		$	6,515			$	(233,208	)		$	(226,693	)
Other comprehensive income before reclassifications			—				(8,118	)			(8,118	)
Amounts reclassified from accumulated other comprehensive income			(52	)			(59	)			(111	)
Period change			(52	)			(8,177	)			(8,229	)
Balance at March 31, 2024		$	6,463			$	(241,385	)		$	(234,922	)

(1)

All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income

The following table provides details about amounts reclassified from accumulated other comprehensive income for the three months ended March 31, 2025 and 2024:


Details about Accumulated Other Comprehensive Income/(Loss) Components	For the Three Months Ended March 31,									Affected Line Item in the Statement of Comprehensive Income
(unaudited, in thousands)	2025				2024
Debt securities available-for-sale (1):
Net securities gains reclassified into earnings	$	(40	)		$	—				Net securities gains/(losses) (Non-interest income)
Related income tax effect ⁽²⁾		(46	)			(59	)			Provision for income taxes
Net effect on accumulated other comprehensive income for the period		(86	)			(59	)

Defined benefit plans (3):
Amortization of net gain and prior service costs		(172	)			(101	)			Employee benefits (Non-interest expense)
Related income tax effect ⁽²⁾		44				49				Provision for income taxes
Net effect on accumulated other comprehensive income for the period		(128	)			(52	)
Total reclassifications for the period	$	(214	)		$	(111	)

(1)

For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 4, “Securities.”

(2)

Income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

(3)

Included in the computation of net periodic pension cost. See Note 9, “Benefit Plans” for additional detail.