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Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended
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Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Components of Other Comprehensive Income (Loss) | The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2023 and 2022 (in thousands):
|  | Pre-tax Amount |  |  | Tax Effect |  |  | Net-of-tax Amount |
March 31, 2023 |  |  |  |  |  |  |  |  |
Securities available for sale and transferred securities: |  |  |  |  |  |  |  |  |
Change in unrealized gain during the period |  | $ | 14,278 |  |  | $ | 3,658 |  |  | $ | 10,620 |
Reclassification adjustment for net gains included in net income (1) |  |  | 19 |  |  |  | 5 |  |  |  | 14 |
Total securities available for sale and transferred securities |  |  | 14,297 |  |  |  | 3,663 |  |  |  | 10,634 |
Hedging derivative instruments: |  |  |  |  |  |  |  |  |
Change in unrealized loss during the period |  |  | (891 | ) |  |  | (228 | ) |  |  | (663 | )
Pension obligations: |  |  |  |  |  |  |  |  |
Amortization of prior service credit included in income |  |  | (122 | ) |  |  | (31 | ) |  |  | (91 | )
Amortization of net actuarial loss included in income |  |  | 316 |  |  |  | 81 |  |  |  | 235 |
Total pension obligations |  |  | 194 |  |  |  | 50 |  |  |  | 144 |
Other comprehensive income |  | $ | 13,600 |  |  | $ | 3,485 |  |  | $ | 10,115 |
|  | Pre-tax Amount |  |  | Tax Effect |  |  | Net-of-tax Amount |
March 31, 2022 |  |  |  |  |  |  |  |  |
Securities available for sale and transferred securities: |  |  |  |  |  |  |  |  |
Change in unrealized loss during the period |  | $ | (75,017 | ) |  | $ | (19,221 | ) |  | $ | (55,796 | )
Reclassification adjustment for net gains included in net income (1) |  |  | 31 |  |  |  | 8 |  |  |  | 23 |
Total securities available for sale and transferred securities |  |  | (74,986 | ) |  |  | (19,213 | ) |  |  | (55,773 | )
Hedging derivative instruments: |  |  |  |  |  |  |  |  |
Change in unrealized gain during the period |  |  | 2,471 |  |  |  | 633 |  |  |  | 1,838 |
Pension and post-retirement obligations: |  |  |  |  |  |  |  |  |
Amortization of prior service credit included in income |  |  | — |  |  |  | — |  |  |  | — |
Amortization of net actuarial loss included in income |  |  | 64 |  |  |  | 16 |  |  |  | 48 |
Total pension and post-retirement obligations |  |  | 64 |  |  |  | 16 |  |  |  | 48 |
Other comprehensive loss |  | $ | (72,451 | ) |  | $ | (18,564 | ) |  | $ | (53,887 | )
(1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.
Components of Accumulated Other Comprehensive Income (Loss) | Activity in accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2023 and 2022 was as follows (in thousands):
|  | Hedging Derivative Instruments |  |  | Securities Available for Sale and Transferred Securities |  |  | Pension and Post- retirement Obligations |  |  | Accumulated Other Comprehensive Income (Loss) |
March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 4,735 |  |  | $ | (128,634 | ) |  | $ | (13,588 | ) |  | $ | (137,487 | )
Other comprehensive (loss) income before reclassifications |  |  | (663 | ) |  |  | 10,620 |  |  |  | — |  |  |  | 9,957 |
Amounts reclassified from accumulated other comprehensive income |  |  | — |  |  |  | 14 |  |  |  | 144 |  |  |  | 158 |
Net current period other comprehensive (loss) income |  |  | (663 | ) |  |  | 10,634 |  |  |  | 144 |  |  |  | 10,115 |
Balance at end of period |  | $ | 4,072 |  |  | $ | (118,000 | ) |  | $ | (13,444 | ) |  | $ | (127,372 | )
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 1,160 |  |  | $ | (4,971 | ) |  | $ | (9,396 | ) |  | $ | (13,207 | )
Other comprehensive income (loss) before reclassifications |  |  | 1,838 |  |  |  | (55,796 | ) |  |  | — |  |  |  | (53,958 | )
Amounts reclassified from accumulated other comprehensive income |  |  | — |  |  |  | 23 |  |  |  | 48 |  |  |  | 71 |
Net current period other comprehensive income (loss) |  |  | 1,838 |  |  |  | (55,773 | ) |  |  | 48 |  |  |  | (53,887 | )
Balance at end of period |  | $ | 2,998 |  |  | $ | (60,744 | ) |  | $ | (9,348 | ) |  | $ | (67,094 | )
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) | The following table presents the amounts reclassified out of each component of accumulated other comprehensive (loss) income for the three months ended March 31, 2023 and 2022 (in thousands):
Details About Accumulated Other Comprehensive Income (Loss) Components |  | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) |  |  | Affected Line Item in the Consolidated Statement of Income
|  | Three months ended March 31, |  |  |
|  | 2023 |  |  | 2022 |  |  |
Realized loss on sale of investment securities |  | $ | — |  |  | $ | — |  |  | Net (loss) gain on investment securities
Amortization of unrealized holding gain on investment securities transferred from available for sale to held to maturity |  |  | (19 | ) |  |  | (31 | ) |  | Interest income
|  |  | (19 | ) |  |  | (31 | ) |  | Total before tax
|  |  | 5 |  |  |  | 8 |  |  | Income tax expense
|  |  | (14 | ) |  |  | (23 | ) |  | Net of tax
Amortization of pension and post-retirement items: |  |  |  |  |  |  |  |
Prior service credit (1) |  |  | 122 |  |  |  | — |  |  | Salaries and employee benefits
Net actuarial losses (1) |  |  | (316 | ) |  |  | (64 | ) |  | Salaries and employee benefits
|  |  | (194 | ) |  |  | (64 | ) |  | Total before tax
|  |  | 50 |  |  |  | 16 |  |  | Income tax benefit
|  |  | (144 | ) |  |  | (48 | ) |  | Net of tax
Total reclassified for the period |  | $ | (158 | ) |  | $ | (71 | ) |  |
(1) These items are included in the computation of net periodic pension expense. See Note 13. Employee Benefit Plans, for additional information.

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