Other Comprehensive Income

12 Months Ended

Dec. 31, 2024

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

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, 2024, 2023 and 2022.


(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, 2024		$	1,692	$	(67,883)	$	—	$	(66,191)
	Other comprehensive income before reclassifications	19,881		4,539		—		24,420
	Amounts reclassified from accumulated other comprehensive loss	(4,819)		415		—		(4,404)
Net current period other comprehensive income		$	15,062	$	4,954	$	—	$	20,016
Ending balance at December 31, 2024		$	16,754	$	(62,929)	$	—	$	(46,175)

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 loss	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)

The following table provides information concerning amounts reclassified out of accumulated other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022:


		Amount Reclassified from Accumulated Other Comprehensive (Loss) Income						Affected Line Item in the Consolidated Statements of Income
(In thousands)		2024		2023		2022
Amortization of defined benefit pension items
	Amortization of prior service cost (credit)	$	48	$	48	$	(15)	Other components of net periodic pension benefit income
	Gain recognition on partial settlement of vested benefits	(6,148)		—		—		Pension settlement gain
(Income) loss before income taxes		(6,100)		48		(15)		Income before income taxes
	Income tax effect	(1,281)		10		(3)		Income taxes
	Net of income tax	$	(4,819)	$	38	$	(12)	Net income

Unrealized losses on AFS debt securities
	Net loss on the sale of debt securities	$	526	$	7,875	$	—	Loss on the sale of debt securities, net
Loss before income taxes		526		7,875		—		Income before income taxes
	Income tax effect	111		1,654		—		Income taxes
	Net of income tax	$	415	$	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