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Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of activity in accumulated other comprehensive income (loss) and amounts reclassified out of each component of accumulated other comprehensive (loss) income

The following tables present reclassifications out of accumulated other comprehensive income (loss) for the three and six month periods ended June 30, 2023 and 2022:

			Three Months Ended June 30, 2023
(In thousands)			Before-Tax Amount			Tax (Expense) Benefit			Net of Tax
Available-for-sale debt securities:
Change in net unrealized gain (loss) during the period			$	(17,531)		$	4,294		$	(13,237)
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income			7,052			(1,727)			5,325
Net unrealized gains/losses			(10,479)			2,567			(7,912)
Employee benefit plans:
Amortization of net retirement plan actuarial gain			261			(64)			197
Amortization of net retirement plan prior service cost			54			(13)			41
Employee benefit plans			315			(77)			238
Other comprehensive (loss) income			$	(10,164)		$	2,490		$	(7,674)

			Three Months Ended June 30, 2022
(In thousands)			Before-Tax Amount			Tax (Expense) Benefit			Net of Tax
Available-for-sale debt securities:
Change in net unrealized (loss) gain during the period			$	(57,544)		$	14,095		$	(43,449)
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income			0			0			0
Net unrealized gains/losses			(57,544)			14,095			(43,449)
Employee benefit plans:
Amortization of net retirement plan actuarial gain			514			(125)			389
Amortization of net retirement plan prior service cost			53			(13)			40
Employee benefit plans			567			(138)			429
Other comprehensive (loss) income			$	(56,977)		$	13,957		$	(43,020)

			Six Months Ended June 30, 2023
(In thousands)			Before-Tax Amount			Tax (Expense) Benefit			Net of Tax
Available-for-sale debt securities:
Change in net unrealized gain (loss) during the period			$	9,724		$	(2,383)		$	7,341
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income			7,052			(1,727)			5,325
Net unrealized gains/losses			16,776			(4,110)			12,666
Employee benefit plans:
Amortization of net retirement plan actuarial loss			558			(137)			421
Amortization of net retirement plan prior service cost			109			(27)			82
Employee benefit plans			667			(164)			503
Other comprehensive (loss) income			$	17,443		$	(4,274)		$	13,169

			Six Months Ended June 30, 2022
(In thousands)			Before-Tax Amount			Tax (Expense) Benefit			Net of Tax
Available-for-sale debt securities:
Change in net unrealized (loss) gain during the period			$	(164,025)		$	40,171		$	(123,854)
Reclassification adjustment for net realized gain on sale of available-for-sale debt securities included in net income			0			0			0
Net unrealized gains/losses			(164,025)			40,171			(123,854)
Employee benefit plans:
Amortization of net retirement plan actuarial loss			1,129			(276)			853
Amortization of net retirement plan prior service cost			109			(27)			82
Employee benefit plans			1,238			(303)			935
Other comprehensive (loss) income			$	(162,787)		$	39,868		$	(122,919)

The following table presents the activity in our accumulated other comprehensive (loss) income for the periods indicated:

(In thousands)			Available-for- Sale Debt Securities			Employee Benefit Plans			Accumulated Other Comprehensive (Loss) Income
Balance at March 31, 2023			$	(158,225)		$	(29,621)		$	(187,846)
Other comprehensive income before reclassifications			(13,237)			0			(13,237)
Amounts reclassified from accumulated other comprehensive (loss) income			5,325			238			5,563
Net current-period other comprehensive income (loss)			(7,912)			238			(7,674)
Balance at June 30, 2023			$	(166,137)		$	(29,383)		$	(195,520)
Balance at January 1, 2023			$	(178,803)		$	(29,886)		$	(208,689)
Other comprehensive income (loss) before reclassifications			7,341			0			7,341
Amounts reclassified from accumulated other comprehensive (loss) income			5,325			503			5,828
Net current-period other comprehensive (loss) income			12,666			503			13,169
Balance at June 30, 2023			$	(166,137)		$	(29,383)		$	(195,520)

(In thousands)			Available-for- Sale Debit Securities			Employee Benefit Plans			Accumulated Other Comprehensive (Loss) Income
Balance at March 31, 2022			$	(94,965)		$	(40,884)		$	(135,849)
Other comprehensive (loss) income before reclassifications			(43,449)			0			(43,449)
Amounts reclassified from accumulated other comprehensive (loss) income			0			429			429
Net current-period other comprehensive income (loss)			(43,449)			429			(43,020)
Balance at June 30, 2022			$	(138,414)		$	(40,455)		$	(178,869)
Balance at January 1, 2022			$	(14,560)		$	(41,390)		$	(55,950)
Other comprehensive (loss) income before reclassifications			(123,854)			0			(123,854)
Amounts reclassified from accumulated other comprehensive (loss) income			0			935			935
Net current-period other comprehensive (loss) income			(123,854)			935			(122,919)
Balance at June 30, 2022			$	(138,414)		$	(40,455)		$	(178,869)

Schedule of reclassifications out of accumulated other comprehensive income (loss)

The following tables present the amounts reclassified out of each component of accumulated other comprehensive (loss) income for the three and six months ended June 30, 2023 and 2022:

Three Months Ended June 30, 2023
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)			Amount Reclassified from Accumulated Other Comprehensive (Loss) Income1			Affected Line Item in the Statement Where Net Income is Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities			$	(7,052)		Net (loss) gain on securities transactions
			1,727			Tax expense
			(5,325)			Net of tax
Employee benefit plans:
Amortization of the following 2
Net retirement plan actuarial loss			(261)			Other operating expense
Net retirement plan prior service cost			(54)			Other operating expense
			(315)			Total before tax
			77			Tax benefit
			$	(238)		Net of tax

Three Months Ended June 30, 2022
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)			Amount Reclassified from Accumulated Other Comprehensive (Loss) Income1			Affected Line Item in the Statement Where Net Income is Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities			$	0		Net (loss) gain on securities transactions
			0			Tax expense
			0			Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss			(514)			Other operating expense
Net retirement plan prior service cost			(53)			Other operating expense
			(567)			Total before tax
			138			Tax benefit
			$	(429)		Net of tax

Six Months Ended June 30, 2023
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)			Amount Reclassified from Accumulated Other Comprehensive (Loss) Income1			Affected Line Item in the Statement Where Net Income is Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities			$	(7,052)		Net (loss) gain on securities transactions
			1,727			Tax expense
			(5,325)			Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss			(558)			Other operating expense
Net retirement plan prior service cost			(109)			Other operating expense
			(667)			Total before tax
			164			Tax benefit
			$	(503)		Net of tax

Six Months Ended June 30, 2022
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)			Amount Reclassified from Accumulated Other Comprehensive (Loss) Income1			Affected Line Item in the Statement Where Net Income is Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities			$	0		Net (loss) gain on securities transactions
			0			Tax expense
			0			Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss			(1,129)			Other operating expense
Net retirement plan prior service cost			(109)			Other operating expense
			(1,238)			Total before tax
			303			Tax benefit
			$	(935)		Net of tax

1 Amounts in parentheses indicated debits in income statement.

2 The accumulated other comprehensive (loss) income components are included in the computation of net periodic benefit cost (See Note 8 - "Employee Benefit Plan").

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

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