XML 40 R26.htm IDEA: XBRL DOCUMENT
v3.24.0.1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 12 Months Ended
--- | ---
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 17. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the components of other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021, by component:
(Dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Year ended December 31, 2023 |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |
Net unrealized gains on investment securities arising during the period | $ | 19,762 |  |  | $ | 5,437 |  |  | $ | 14,325 |
Less: Reclassification adjustment for losses realized in net income | 2,074 |  |  | 547 |  |  | 1,527 |
Less: Amortization of unrealized losses on investment securities transferred to HTM | 7,440 |  |  | 2,105 |  |  | 5,335 |
Net change in fair value of investment securities | 29,276 |  |  | 8,089 |  |  | 21,187 |
Net change in fair value of derivative: |  |  |  |  |
Net unrealized gains arising during the period | 491 |  |  | 107 |  |  | 384 |
Net change in fair value of derivative | 491 |  |  | 107 |  |  | 384 |
SERPs: |  |  |  |  |
Net actuarial losses arising during the period | (182) |  |  | (48) |  |  | (134) |
Amortization of net actuarial gains | (74) |  |  | (20) |  |  | (54) |
Amortization of net transition obligation | 7 |  |  | 2 |  |  | 5 |
SERPs | (249) |  |  | (66) |  |  | (183) |
Other comprehensive income | $ | 29,518 |  |  | $ | 8,130 |  |  | $ | 21,388 |
(Dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Year ended December 31, 2022 |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |
Net unrealized losses on investment securities arising during the period | $ | (204,250) |  |  | $ | (54,109) |  |  | $ | (150,141) |
Less: Amortization of unrealized losses on investment securities transferred to HTM | 6,218 |  |  | 1,520 |  |  | 4,698 |
Net change in fair value of investment securities | (198,032) |  |  | (52,589) |  |  | (145,443) |
Net change in fair value of derivative: |  |  |  |  |
Net unrealized gains arising during the period | 6,326 |  |  | 1,681 |  |  | 4,645 |
Net change in fair value of derivative | 6,326 |  |  | 1,681 |  |  | 4,645 |
Defined benefit retirement plan and SERPs: |  |  |  |  |
Net actuarial gains arising during the period | 2,007 |  |  | 537 |  |  | 1,470 |
Amortization of net actuarial losses | 304 |  |  | 81 |  |  | 223 |
Amortization of net transition obligation | 18 |  |  | 4 |  |  | 14 |
Settlement | 4,884 |  |  | 1,817 |  |  | 3,067 |
Defined benefit retirement plan and SERPs | 7,213 |  |  | 2,439 |  |  | 4,774 |
Other comprehensive loss | $ | (184,493) |  |  | $ | (48,469) |  |  | $ | (136,024) |
(Dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Year ended December 31, 2021 |  |  |  |  |
Net change in fair value of investment securities: |  |  |  |  |
Net unrealized losses on investment securities arising during the period | $ | (41,237) |  |  | $ | (11,030) |  |  | $ | (30,207) |
Less: Reclassification adjustment for gains realized in net income | (150) |  |  | (40) |  |  | (110) |
Net change in fair value of investment securities | (41,387) |  |  | (11,070) |  |  | (30,317) |
Defined benefit retirement plan and SERPs: |  |  |  |  |
Net actuarial gains arising during the period | 2,014 |  |  | 544 |  |  | 1,470 |
Amortization of net actuarial losses | 1,036 |  |  | 291 |  |  | 745 |
Amortization of net transition obligation | 18 |  |  | 4 |  |  | 14 |
Defined benefit retirement plan and SERPs | 3,068 |  |  | 839 |  |  | 2,229 |
Other comprehensive loss | $ | (38,319) |  |  | $ | (10,231) |  |  | $ | (28,088) |
The following table presents the changes in each component of AOCI, net of tax, for the years ended December 31, 2023, 2022 and 2021:
(Dollars in thousands) | Investment Securities |  | Derivatives |  | Defined Benefit Plans |  | AOCI
Year ended December 31, 2023 |  |  |  |  |  |  |
Balance at beginning of period | $ | (149,109) |  |  | $ | 4,645 |  |  | $ | 480 |  |  | $ | (143,984) |
Other comprehensive income (loss) before reclassifications | 14,325 |  |  | 384 |  |  | (134) |  |  | 14,575 |
Amounts reclassified from AOCI | 6,862 |  |  | — |  |  | (49) |  |  | 6,813 |
Net other comprehensive income (loss) | 21,187 |  |  | 384 |  |  | (183) |  |  | 21,388 |
Balance at end of period | $ | (127,922) |  |  | $ | 5,029 |  |  | $ | 297 |  |  | $ | (122,596) |
(Dollars in thousands) | Investment Securities |  | Derivatives |  | Defined Benefit Plans |  | AOCI
Year ended December 31, 2022 |  |  |  |  |  |  |
Balance at beginning of period | $ | (3,666) |  |  | $ | — |  |  | $ | (4,294) |  |  | $ | (7,960) |
Other comprehensive (loss) income before reclassifications | (150,141) |  |  | 4,645 |  |  | 1,470 |  |  | (144,026) |
Amounts reclassified from AOCI | 4,698 |  |  | — |  |  | 3,304 |  |  | 8,002 |
Net other comprehensive (loss) income | (145,443) |  |  | 4,645 |  |  | 4,774 |  |  | (136,024) |
Balance at end of period | $ | (149,109) |  |  | $ | 4,645 |  |  | $ | 480 |  |  | $ | (143,984) |
(Dollars in thousands) | Investment Securities |  |  |  | Defined Benefit Plans |  | AOCI
Year ended December 31, 2021 |  |  |  |  |  |  |
Balance at beginning of period | $ | 26,651 |  |  |  |  | $ | (6,523) |  |  | $ | 20,128 |
Other comprehensive (loss) income before reclassifications | (30,207) |  |  |  |  | 1,470 |  |  | (28,737) |
Amounts reclassified from AOCI | (110) |  |  |  |  | 759 |  |  | 649 |
Net other comprehensive (loss) income | (30,317) |  |  |  |  | 2,229 |  |  | (28,088) |
Balance at end of period | $ | (3,666) |  |  |  |  | $ | (4,294) |  |  | $ | (7,960) |
The following table presents the amounts reclassified out of each component of AOCI for the years ended December 31, 2023, 2022 and 2021:
| Amount Reclassified from AOCI |  | Affected Line Item in the
| Year ended December 31, |  | Statement Where Net
Details about AOCI Components | 2023 |  | 2022 |  | 2021 |  | Income is Presented
| (Dollars in thousands) |  |
Sale of available-for-sale investment securities: |  |  |  |  |  |  |
Realized (losses) gains on available-for-sale investment securities | $ | (2,074) |  |  | $ | — |  |  | $ | 150 |  |  | Net gains (losses) on sales of investment securities
Tax effect | 547 |  |  | — |  |  | (40) |  |  | Income tax benefit (expense)
Net of tax | $ | (1,527) |  |  | $ | — |  |  | $ | 110 |  |  |
Amortization of unrealized losses on investment securities transferred to HTM | $ | (7,440) |  |  | $ | (6,218) |  |  | $ | — |  |  | Interest and dividends on investment securities
Tax effect | 2,105 |  |  | 1,520 |  |  | — |  |  | Income tax benefit
Net of tax | $ | (5,335) |  |  | $ | (4,698) |  |  | $ | — |  |  |
Defined benefit plan items: |  |  |  |  |  |  |
Amortization of net actuarial gains (losses) | $ | 74 |  |  | $ | (304) |  |  | $ | (1,036) |  |  | Other operating expense - other (1)
Amortization of net transition obligation | (7) |  |  | (18) |  |  | (18) |  |  | Other operating expense - other (1)
Settlement | — |  |  | (4,884) |  |  | — |  |  | Other operating expense - other (1)
Total before tax | 67 |  |  | (5,206) |  |  | (1,054) |  |  |
Tax effect | (18) |  |  | 1,902 |  |  | 295 |  |  | Income tax (expense) benefit
Net of tax | $ | 49 |  |  | $ | (3,304) |  |  | $ | (759) |  |  |
Total reclassifications, net of tax | $ | (6,813) |  |  | $ | (8,002) |  |  | $ | (649) |  |  |
(1)These accumulated other comprehensive income components are included in the computation of net periodic benefit cost (see Note 14 - Retirement Benefits for additional details).

X
- References No definition available. + Details
Name: | us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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//1943274/2147483586/944-220-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//1943274/2147483589/942-220-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