Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ending December 31, 2024, December 31, 2023, and December 31, 2022 (in thousands):


	December 31, 2024
	Gains and Losses on Cash Flow Hedges		Unrealized Gains and Losses on Available-for-Sale Securities		Defined Benefit Pension Items		Accumulated Other Comprehensive Income
Beginning Balance	$	(490)	$	(97,259)	$	(5,745)	$	(103,494)
Net unrealized gains (losses)	3,082		6,372		—		9,454
Less: net realized (gains) losses reclassified to earnings	(1,681)		(1,168)		—		(2,849)
Net change in pension plan benefits	—		—		1,169		1,169
Ending Balance	$	911	$	(92,055)	$	(4,576)	$	(95,720)

	December 31, 2023
	Gains and Losses on Cash Flow Hedges		Unrealized Gains and Losses on Available-for-Sale Securities		Defined Benefit Pension Items		Accumulated Other Comprehensive Income
Beginning Balance	$	(1,589)	$	(130,875)	$	(7,031)	$	(139,495)
Net unrealized gains (losses)	(283)		32,718		—		32,435
Less: net realized (gains) losses reclassified to earnings	1,382		898		—		2,280
Net change in pension plan benefits	—		—		1,286		1,286
Ending Balance	$	(490)	$	(97,259)	$	(5,745)	$	(103,494)

	December 31, 2022
	Gains and Losses on Cash Flow Hedges		Unrealized Gains and Losses on Available-for-Sale Securities		Defined Benefit Pension Items		Accumulated Other Comprehensive Income
Beginning Balance	$	—	$	12,975	$	(6,020)	$	6,955
Net unrealized gains (losses)	(1,721)		(144,209)		—		(145,930)
Less: net realized (gains) losses reclassified to earnings	132		359		—		491
Net change in pension plan benefits	—		—		(1,011)		(1,011)
Ending Balance	$	(1,589)	$	(130,875)	$	(7,031)	$	(139,495)

Schedule of Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following table presents amounts reclassified out of each component of accumulated other comprehensive income (loss) for the years ending December 31, 2024, December 31, 2023, and December 31, 2022 (in thousands).


Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income						Affected Line Item in the Statements of Income
	December 31, 2024		December 31, 2023		December 31, 2022
Cash flow hedges:
Interest rate contracts	$	(611)	$	(1,749)	$	(167)	Interest income
Interest rate contracts	2,794		—		—		Interest expense
Tax effect	(502)		367		35		Income tax expense (benefit)
Net of Tax	$	1,681	$	(1,382)	$	(132)

Available-for-sale securities:
Realized gains (losses) on securities	$	1,357	$	(112)	$	(454)	Net gains/(losses) on securities
Realized gains (losses) on basis adjustment for fair value hedges	160		(1,025)		—		Interest income
Tax effect	(349)		239		95		Income tax expense (benefit)
Net of Tax	$	1,168	$	(898)	$	(359)

Defined benefit pension plan:
Amortization of actuarial gain / (loss)	$	(1,518)	$	(1,628)	$	1,280	Pension and other employee benefits
Tax effect	349		342		(269)		Income tax expense (benefit)
Net of Tax	$	(1,169)	$	(1,286)	$	1,011

Total reclassifications, net of tax	$	1,680	$	(3,566)	$	520	Net income