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Other Comprehensive Income (Loss)
6 Months Ended
Jun. 30, 2025
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, 2025 and 2024:
Three Months Ended June 30, 2025
(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$9,392 $(2,348)$7,044 
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income (loss)
Net unrealized gains9,392 (2,348)7,044 
Employee benefit plans:
Amortization of net retirement plan actuarial gain (loss)19 (5)14 
Amortization of net retirement plan prior service cost49 (12)37 
Employee benefit plans68 (17)51 
Other comprehensive income$9,460 $(2,365)$7,095 
Three Months Ended June 30, 2024
(In thousands)Before-Tax
Amount
Tax (Expense)
Benefit
Net of Tax
Available-for-sale debt securities:
Change in net unrealized (loss) gain during the period$(1,391)$340 $(1,051)
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income (loss)
Net unrealized losses(1,391)340 (1,051)
Employee benefit plans:
Amortization of net retirement plan actuarial gain (loss)215 (53)162 
Amortization of net retirement plan prior service cost47 (12)35 
Employee benefit plans262 (65)197 
Other comprehensive (loss)$(1,129)$275 $(854)
Six Months Ended June 30, 2025
(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$30,881 $(7,720)$23,161 
Reclassification adjustment for net realized gains on sale of available-for-sale debt securities included in net income
Net unrealized losses30,881 (7,720)23,161 
Employee benefit plans:
Amortization of net retirement plan actuarial loss190 (48)142 
Amortization of net retirement plan prior service cost98 (24)74 
Employee benefit plans288 (72)216 
Other comprehensive income$31,169 $(7,792)$23,377 
Six Months Ended June 30, 2024
(In thousands)Before-Tax
Amount
Tax (Expense)
Benefit
Net of Tax
Available-for-sale debt securities:
Change in net unrealized gain (loss) during the period$(14,675)$3,596 $(11,079)
Reclassification adjustment for net realized loss on sale of available-for-sale debt securities included in net income
Net unrealized gains/losses(14,675)3,596 (11,079)
Employee benefit plans:
Amortization of net retirement plan actuarial loss457 (112)345 
Amortization of net retirement plan prior service cost92 (23)69 
Employee benefit plans549 (135)414 
Other comprehensive (loss)$(14,126)$3,461 $(10,665)
The following table presents the activity in our accumulated other comprehensive (loss) income for the periods indicated:
(In thousands)Available-for-
Sale Debt Securities
Employee
Benefit Plans
Accumulated
Other
Comprehensive
(Loss) Income
Balance at April 1, 2025$(85,577)$(16,633)$(102,210)
Other comprehensive income before reclassifications7,044 7,044 
Amounts reclassified from accumulated other comprehensive (loss) income51 51 
Net current-period other comprehensive income7,044 51 7,095 
Balance at June 30, 2025$(78,533)$(16,582)$(95,115)
Balance at January 1, 2025$(101,694)$(16,798)$(118,492)
Other comprehensive income before reclassifications23,161 23,161 
Amounts reclassified from accumulated other comprehensive (loss) income216 216 
Net current-period other comprehensive income23,161 216 23,377 
Balance at June 30, 2025$(78,533)$(16,582)$(95,115)
(In thousands)Available-for-
Sale Debt Securities
Employee
Benefit Plans
Accumulated
Other
Comprehensive
(Loss) Income
Balance at April 1, 2024$(109,563)$(25,253)$(134,816)
Other comprehensive loss before reclassifications(1,051)(1,051)
Amounts reclassified from accumulated other comprehensive (loss) income197 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)(11,079)
Amounts reclassified from accumulated other comprehensive (loss) income414 414 
Net current-period other comprehensive income (loss)(11,079)414 (10,665)
Balance at June 30, 2024$(110,614)$(25,056)$(135,670)
The following tables present the amounts reclassified out of each component of accumulated other comprehensive (loss) income for the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30, 2025
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)
Amount
Reclassified from
Accumulated
Other
Comprehensive
(Loss) Income1
Affected Line Item in the
Statement Where Net Income is
Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities$Net gain (loss) on securities transactions
Income tax expense
Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss(19)Other operating expense
Net retirement plan prior service cost(49)Other operating expense
(68)Total before tax
17 Income tax expense
$(51)Net of tax
Three Months Ended June 30, 2024
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)
Amount
Reclassified from
Accumulated
Other
Comprehensive
(Loss) Income1
Affected Line Item in the
Statement Where Net Income is
Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities$Net loss on securities transactions
Income tax expense
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
$(197)Net of tax
Six Months Ended June 30, 2025
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)
Amount Reclassified from Accumulated Other Comprehensive (Loss)1
Affected Line Item in the
Statement Where Net Income is
Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities$Net gain (loss) on securities transactions
Income tax expense
Net of tax
Employee benefit plans:
Amortization of the following2
Net retirement plan actuarial loss(190)Other operating expense
Net retirement plan prior service cost(98)Other operating expense
(288)Total before tax
72 Income tax expense
$(216)Net of tax
Six Months Ended June 30, 2024
Details about Accumulated other Comprehensive Income (Loss) Components (In thousands)
Amount Reclassified from Accumulated Other Comprehensive (Loss)1
Affected Line Item in the
Statement Where Net Income is
Presented
Available-for-sale debt securities:
Unrealized gains and losses on available-for-sale debt securities$Net loss on securities transactions
Income tax expense
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 Tax benefit
$(414)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 10 - "Employee Benefit Plans" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024).