XML 29 R15.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The following tables present reclassifications out of accumulated other comprehensive income (loss) for the three and six month periods ended June 30, 2024 and 2023:

			Three Months Ended June 30, 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			$	(1,391)		$	340		$	(1,051)
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income (loss)			0			0			0
Net unrealized losses			(1,391)			340			(1,051)
Employee benefit plans:
Amortization of net retirement plan actuarial gain (loss)			215			(53)			162
Amortization of net retirement plan prior service cost			47			(12)			35
Employee benefit plans			262			(65)			197
Other comprehensive loss			$	(1,129)		$	275		$	(854)

			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 losses			(10,479)			2,567			(7,912)
Employee benefit plans:
Amortization of net retirement plan actuarial gain (loss)			261			(64)			197
Amortization of net retirement plan prior service cost			54			(13)			41
Employee benefit plans			315			(77)			238
Other comprehensive loss			$	(10,164)		$	2,490		$	(7,674)

			Six Months Ended June 30, 2024
(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			$	(14,675)		$	3,596		$	(11,079)
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income			0			0			0
Net unrealized losses			(14,675)			3,596			(11,079)
Employee benefit plans:
Amortization of net retirement plan actuarial loss			457			(112)			345
Amortization of net retirement plan prior service cost			92			(23)			69
Employee benefit plans			549			(135)			414
Other comprehensive loss			$	(14,126)		$	3,461		$	(10,665)

			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			16,776			(4,110)			12,666
Employee benefit plans:
Amortization of net retirement plan actuarial gain			558			(137)			421
Amortization of net retirement plan prior service cost			109			(27)			82
Employee benefit plans			667			(164)			503
Other comprehensive income			$	17,443		$	(4,274)		$	13,169

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 April 1, 2024			$	(109,563)		$	(25,253)		$	(134,816)
Other comprehensive loss before reclassifications			(1,051)			0			(1,051)
Amounts reclassified from accumulated other comprehensive (loss) income			0			197			197
Net current-period other comprehensive (loss) income			(1,051)			197			(854)
Balance at June 30, 2024			$	(110,614)		$	(25,056)		$	(135,670)
Balance at January 1, 2024			$	(99,535)		$	(25,470)		$	(125,005)
Other comprehensive loss before reclassifications			(11,079)			0			(11,079)
Amounts reclassified from accumulated other comprehensive (loss) income			0			414			414
Net current-period other comprehensive (loss) income			(11,079)			414			(10,665)
Balance at June 30, 2024			$	(110,614)		$	(25,056)		$	(135,670)

(In thousands)			Available-for- Sale Debit Securities			Employee Benefit Plans			Accumulated Other Comprehensive (Loss) Income
Balance at April 1, 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 (loss) income			(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 income (loss)			12,666			503			13,169
Balance at June 30, 2023			$	(166,137)		$	(29,383)		$	(195,520)

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, 2024 and 2023:

Three Months Ended June 30, 2024
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 on securities transactions
			0			Income tax expense
			0			Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss			(215)			Other operating expense
Net retirement plan prior service cost			(47)			Other operating expense
			(262)			Total before tax
			65			Income tax expense
			$	(197)		Net of tax

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 on securities transactions
			1,727			Income 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			Income tax expense
			$	(238)		Net of tax

Six Months Ended June 30, 2024
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)			Amount Reclassified from Accumulated Other Comprehensive (Loss)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			Income tax expense
			0			Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss			(457)			Other operating expense
Net retirement plan prior service cost			(92)			Other operating expense
			(549)			Total before tax
			135			Income tax expense
			$	(414)		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)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			$	(7,052)		Net loss on securities transactions
			1,727			Income 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			Income tax expense
			$	(503)		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").

X

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/220/tableOfContent

+ Details

Name:	us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration