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Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Sep. 30, 2024
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 nine month periods ended September 30, 2024 and 2023:
| Three Months Ended September 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 | $ | 45,431 |  | $ | (11,131) |  | $ | 34,300 |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income (loss) | (50) |  | 12 |  | (38) |
Net unrealized losses | 45,381 |  | (11,119) |  | 34,262 |
Employee benefit plans: |  |  |
Amortization of net retirement plan actuarial gain (loss) | 229 |  | (56) |  | 173 |
Amortization of net retirement plan prior service cost | 45 |  | (10) |  | 35 |
Employee benefit plans | 274 |  | (66) |  | 208 |
Other comprehensive loss | $ | 45,655 |  | $ | (11,185) |  | $ | 34,470 |
| Three Months Ended September 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 | $ | (37,449) |  | $ | 9,176 |  | $ | (28,273) |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income (loss) | 62,932 |  | (15,419) |  | 47,513 |
Net unrealized gains/losses | 25,483 |  | (6,243) |  | 19,240 |
Employee benefit plans: |  |  |
Amortization of net retirement plan actuarial gain | 279 |  | (68) |  | 211 |
Amortization of net retirement plan prior service cost | 53 |  | (13) |  | 40 |
Employee benefit plans | 332 |  | (81) |  | 251 |
Other comprehensive (loss) income | $ | 25,815 |  | $ | (6,324) |  | $ | 19,491 |
| Nine Months Ended September 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 | $ | 30,756 |  | $ | (7,535) |  | $ | 23,221 |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income | (50) |  | 12 |  | (38) |
Net unrealized losses | 30,706 |  | (7,523) |  | 23,183 |
Employee benefit plans: |  |  |
Amortization of net retirement plan actuarial loss | 686 |  | (168) |  | 518 |
Amortization of net retirement plan prior service cost | 137 |  | (33) |  | 104 |
Employee benefit plans | 823 |  | (201) |  | 622 |
Other comprehensive loss | $ | 31,529 |  | $ | (7,724) |  | $ | 23,805 |
| Nine Months Ended September 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 | $ | (27,725) |  | $ | 6,793 |  | $ | (20,932) |
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income (loss) | 69,984 |  | (17,146) |  | 52,838 |
Net unrealized gains/losses | 42,259 |  | (10,353) |  | 31,906 |
Employee benefit plans: |  |  |
Amortization of net retirement plan actuarial loss | 837 |  | (205) |  | 632 |
Amortization of net retirement plan prior service cost | 162 |  | (40) |  | 122 |
Employee benefit plans | 999 |  | (245) |  | 754 |
Other comprehensive (loss) income | $ | 43,258 |  | $ | (10,598) |  | $ | 32,660 |
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 July 1, 2024 | $ | (110,614) |  | $ | (25,056) |  | $ | (135,670) |
Other comprehensive loss before reclassifications | 34,300 |  | 0 |  | 34,300 |
Amounts reclassified from accumulated other comprehensive (loss) income | (38) |  | 208 |  | 170 |
Net current-period other comprehensive income | 34,262 |  | 208 |  | 34,470 |
Balance at September 30, 2024 | $ | (76,352) |  | $ | (24,848) |  | $ | (101,200) |
Balance at January 1, 2024 | $ | (99,535) |  | $ | (25,470) |  | $ | (125,005) |
Other comprehensive loss before reclassifications | 23,221 |  | 0 |  | 23,221 |
Amounts reclassified from accumulated other comprehensive (loss) income | (38) |  | 622 |  | 584 |
Net current-period other comprehensive income | 23,183 |  | 622 |  | 23,805 |
Balance at September 30, 2024 | $ | (76,352) |  | $ | (24,848) |  | $ | (101,200) |
(In thousands) | Available-for- Sale Debit Securities | Employee Benefit Plans | Accumulated Other Comprehensive (Loss) Income
Balance at July 1, 2023 | $ | (166,137) |  | $ | (29,383) |  | $ | (195,520) |
Other comprehensive income before reclassifications | (28,273) |  | 0 |  | (28,273) |
Amounts reclassified from accumulated other comprehensive (loss) income | 47,513 |  | 251 |  | 47,764 |
Net current-period other comprehensive (loss) income | 19,240 |  | 251 |  | 19,491 |
Balance at September 30, 2023 | $ | (146,897) |  | $ | (29,132) |  | $ | (176,029) |
Balance at January 1, 2023 | $ | (178,803) |  | $ | (29,886) |  | $ | (208,689) |
Other comprehensive loss before reclassifications | (20,932) |  | 0 |  | (20,932) |
Amounts reclassified from accumulated other comprehensive (loss) income | 52,838 |  | 754 |  | 53,592 |
Net current-period other comprehensive income (loss) | 31,906 |  | 754 |  | 32,660 |
Balance at September 30, 2023 | $ | (146,897) |  | $ | (29,132) |  | $ | (176,029) |
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 nine months ended September 30, 2024 and 2023:
Three Months Ended September 30, 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 | $ | 50 |  | Net gain (loss) on securities transactions
| (12) |  | Income tax expense
| 38 |  | Net of tax
Employee benefit plans: |  |
Amortization of the following 2 |  |
Net retirement plan actuarial loss | (229) |  | Other operating expense
Net retirement plan prior service cost | (45) |  | Other operating expense
| (274) |  | Total before tax
| 66 |  | Income tax expense
| $ | (208) |  | Net of tax
Three Months Ended September 30, 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 | $ | (62,932) |  | Net gain (loss) on securities transactions
| 15,419 |  | Tax expense
| (47,513) |  | Net of tax
Employee benefit plans: |  |
Amortization of the following 2 |  |
Net retirement plan actuarial loss | (279) |  | Other operating expense
Net retirement plan prior service cost | (53) |  | Other operating expense
| (332) |  | Total before tax
| 81 |  | Tax benefit
| $ | (251) |  | Net of tax
Nine Months Ended September 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 | $ | 50 |  | Net gain (loss) on securities transactions
| (12) |  | Income tax expense
| 38 |  | Net of tax
Employee benefit plans: |  |
Amortization of the following 2 |  |
Net retirement plan actuarial loss | (686) |  | Other operating expense
Net retirement plan prior service cost | (137) |  | Other operating expense
| (823) |  | Total before tax
| 201 |  | Income tax expense
| $ | (622) |  | Net of tax
Nine Months Ended September 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 | $ | (69,984) |  | Net gain (loss) on securities transactions
| 17,146 |  | Tax expense
| (52,838) |  | Net of tax
Employee benefit plans: |  |
Amortization of the following 2 |  |
Net retirement plan actuarial loss | (837) |  | Other operating expense
Net retirement plan prior service cost | (162) |  | Other operating expense
| (999) |  | Total before tax
| 245 |  | Tax benefit
| $ | (754) |  | Net of tax
1 Amounts in parentheses indicate 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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