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Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net income $ 37,397 $ 54,806 $ 29,319
Other comprehensive loss:      
Unrealized (losses) gains arising during the period on available for sale securities, net of income taxes [1] 1,988 (19,072) (190)
Reclassification adjustment for net gain on sales of available-for-sale securities included in net income, net of income taxes impact, respectively [1],[2] 0 0 (62)
Unrealized holding gains arising during the period on interest rate derivatives used in cash flow hedges, net of income tax [1] 820 0 0
Change in defined benefit plans, net of income taxes impact, respectively [1],[3] (212) (294) 511
Reclassification adjustment for settlement gains and activity related to benefit plans, net of income taxes impact, respectively [1],[4] (17) (8) (44)
Total other comprehensive income (loss) 2,579 (19,374) 215
Total comprehensive income $ 39,976 $ 35,432 $ 29,534
[1] The income tax impacts of the components of other comprehensive income are calculated using the 21% statutory tax rate for 2023, 2022 and 2021.
[2] Amounts are included in net gain on sales of investment securities on the Consolidated Statements of Income as a separate component within total noninterest income.
[3] The change in defined benefit plans consists primarily of unrecognized actuarial (losses) gains on defined benefit plans during the period.
[4] The reclassification adjustment for defined benefit plans includes settlement gains, amortization of prior service costs, and amortization of net gain or loss. Amounts are included in other income on the Consolidated Statements of Income within the total noninterest income. See "Note 14 - Postretirement Benefit Plans", to the Consolidated Financial Statements for more information.