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Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Other Comprehensive Income (Loss) Other Comprehensive Income (Loss)
The following table presents the components of other comprehensive (loss) income both gross and net of tax, for the years ended December 31, 2024, 2023 and 2022 (in thousands):
 For the Years Ended December 31,
 202420232022
 
Before
Tax
Tax
Effect
After
Tax
Before
Tax
Tax
Effect
After
Tax
Before
Tax
Tax
Effect
After
Tax
Components of Other Comprehensive Income ( Loss):
Unrealized losses on available for sale debt securities:
Net (losses) gains arising during the period$11,216 (3,375)7,841 43,250 (11,125)32,125 (254,591)68,230 (186,361)
Reclassification adjustment for gains included in net income2,986 (899)2,087 — — — (58)16 (42)
Total14,202 (4,274)9,928 43,250 (11,125)32,125 (254,649)68,246 (186,403)
Unrealized gains (losses) on derivatives designated as cash flow hedges:
Net (losses) gains arising during the period4,547 (1,368)3,179 3,288 (900)2,388 26,231 (7,030)19,201 
Reclassification adjustment for gains included in net income(13,670)4,113 (9,557)(17,713)4,765 (12,948)(4,504)1,207 (3,297)
Total(9,123)2,745 (6,378)(14,425)3,865 (10,560)21,727 (5,823)15,904 
Amortization related to post-retirement obligations3,162 (952)2,210 3,249 (884)2,365 (1,926)517 (1,409)
Total other comprehensive (loss) income$8,241 (2,481)5,760 32,074 (8,144)23,930 (234,848)62,940 (171,908)
The following table presents the changes in the components of accumulated other comprehensive (loss) income, net of tax, for the years ended December 31, 2024 and 2023 (in thousands):
 
Changes in Accumulated Other Comprehensive Income by Component, net of tax
For the Years Ended December 31,
20242023
Unrealized
Losses on
Available for Sale Debt Securities
Post-Retirement
Obligations		Unrealized Gains on Derivatives (cash flow hedges)Accumulated
Other
Comprehensive
Income (Loss)
Unrealized
Gains (Losses) on
Available for Sale Debt Securities
Post-Retirement
Obligations		Unrealized Gains (Losses) on Derivatives (cash flow hedges)Accumulated
Other
Comprehensive
Income (Loss)
Balance at the beginning of the period$(154,489)3,937 9,437 (141,115)(186,614)1,572 19,997 (165,045)
Current period change in other comprehensive (loss) income 9,928 2,210 (6,378)5,760 32,125 2,365 (10,560)23,930 
Balance at the end of the period$(144,561)6,147 3,059 (135,355)(154,489)3,937 9,437 (141,115)
The following table summarizes the reclassifications out of accumulated other comprehensive (loss) income for the years ended December 31, 2024, 2023 and 2022 (in thousands):
Reclassifications Out of Accumulated Other Comprehensive
Income (Loss)
Amount reclassified from AOCI for the years ended December 31,Affected line item in the Consolidated
Statement of Income
202420232022
Details of AOCI:
Available for sale debt securities:
Realized net gains on the sale of securities available for sale$(2,986)— (58)Net gain on securities transactions
899 — 16 Income tax expense
(2,087)— (42)Net of tax
Cash flow hedges:
Unrealized gains (losses) on derivatives designated as cash flow hedges(13,670)(17,713)(4,504)Interest expense
4,113 4,765 1,207 Income tax expense
(9,557)(12,948)(3,297)
Post-retirement obligations:
Amortization of actuarial (gains) losses (2,061)(1,421)(1,304)
Compensation and employee benefits (1)
620 384 349 Income tax expense
(1,441)(1037)(955)Net of tax
Total reclassifications$(13,085)(13,985)(4,293)Net of tax
(1) This item is included in the computation of net periodic benefit cost. See Note 11. Benefit Plans