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Other Comprehensive Income (Loss) (Tables) | 3 Months Ended
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Mar. 31, 2024
Stockholders' Equity Note [Abstract] |
Schedule of tax effect allocated to each component of other comprehensive income | The following tables present reclassifications out of the accumulated other comprehensive income (loss) for the three month periods ended March 31, 2024 and 2023:
| Three Months Ended March 31, 2024
(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 | $ | (13,284) |  | $ | 3,256 |  | $ | (10,028) |
Net unrealized losses | (13,284) |  | 3,256 |  | (10,028) |
Employee benefit plans: |  |  |
Amortization of net retirement plan actuarial gain (loss) | 242 |  | (59) |  | 183 |
Amortization of net retirement plan prior service cost | 45 |  | (11) |  | 34 |
Employee benefit plans | 287 |  | (70) |  | 217 |
Other comprehensive (loss) income | $ | (12,997) |  | $ | 3,186 |  | $ | (9,811) |
| Three Months Ended March 31, 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 | $ | 27,255 |  | $ | (6,677) |  | $ | 20,578 |
Net unrealized gains (losses) | 27,255 |  | (6,677) |  | 20,578 |
Employee benefit plans: |  |  |
Amortization of net retirement plan actuarial gain (loss) | 297 |  | (73) |  | 224 |
Amortization of net retirement plan prior service cost | 55 |  | (14) |  | 41 |
Employee benefit plans | 352 |  | (87) |  | 265 |
Other comprehensive income (loss) | $ | 27,607 |  | $ | (6,764) |  | $ | 20,843 |
Schedule of accumulated other comprehensive income | The following table presents the activity in our accumulated other comprehensive income (loss) for the periods indicated:
(In thousands) | Available-for- Sale Debt Securities | Employee Benefit Plans | Accumulated Other Comprehensive (Loss) Income
Balance at January 1, 2024 | $ | (99,535) |  | $ | (25,470) |  | $ | (125,005) |
Other comprehensive loss before reclassifications | (10,028) |  | 0 |  | (10,028) |
Amounts reclassified from accumulated other comprehensive (loss) income | 0 |  | 217 |  | 217 |
Net current-period other comprehensive (loss) income | (10,028) |  | 217 |  | (9,811) |
Balance at March 31, 2024 | $ | (109,563) |  | $ | (25,253) |  | $ | (134,816) |
Balance at January 1, 2023 | $ | (178,803) |  | $ | (29,886) |  | $ | (208,689) |
Other comprehensive income before reclassifications | 20,578 |  | 0 |  | 20,578 |
Amounts reclassified from accumulated other comprehensive (loss) income | 0 |  | 265 |  | 265 |
Net current-period other comprehensive income (loss) | 20,578 |  | 265 |  | 20,843 |
March 31, 2023 | $ | (158,225) |  | $ | (29,621) |  | $ | (187,846) |
The following tables present the amounts reclassified out of each component of accumulated other comprehensive (loss) income for the three months ended March 31, 2024 and 2023:
Three Months Ended March 31, 2024 |  |
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income 1 | 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 on securities transactions
| 0 |  | Tax expense
| 0 |  | Net of tax
Employee benefit plans: |  |
Amortization of the following 2 |  |
Net retirement plan actuarial loss | (242) |  | Other operating expense
Net retirement plan prior service cost | (45) |  | Other operating expense
| (287) |  | Total before tax
| 70 |  | Tax benefit
| $ | (217) |  | Net of tax
Three Months Ended March 31, 2023 |  |
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands) | Amount Reclassified from Accumulated Other Comprehensive (Loss) Income 1 | 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 on securities transactions
| 0 |  | Tax expense
| 0 |  | Net of tax
Employee benefit plans: |  |
Amortization of the following 2 |  |
Net retirement plan actuarial loss | (297) |  | Other operating expense
Net retirement plan prior service cost | (55) |  | Other operating expense
| (352) |  | Total before tax
| 87 |  | Tax benefit
| $ | (265) |  | 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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