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Accumulated Comprehensive Loss (Tables) | 6 Months Ended
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Jun. 30, 2023
Accumulated Comprehensive Loss [Abstract] |
Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax | The following tables present the changes in accumulated other comprehensive income by component, net of tax, for the three and six months ended June 30, 2023 and 2022 (in thousands):
|  | Three months ended June 30, 2023 |
|  | Unrealized gain (loss) on available for sale securities (a) |  |  | Defined Benefit Pension Items (a) |  |  | Unrealized loss on interest rate swap (a) |  |  | Total |
Balance as of March 31, 2023 |  | $ | (30,422 | ) |  | $ | (1,050 | ) |  | $ | 4,710 |  |  | $ | (26,762 | )
Other comprehensive income (loss) before reclassifications (net of tax) |  |  | (4,736 | ) |  |  | - |  |  |  | 888 |  |  |  | (3,848 | )
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax) |  |  | 39 |  |  |  | 5 |  |  |  | (414 | ) |  |  | (370 | )
Net current period other comprehensive income (loss) |  |  | (4,697 | ) |  |  | 5 |  |  |  | 474 |  |  |  | (4,218 | )
Balance as of June 30, 2023 |  | $ | (35,119 | ) |  | $ | (1,045 | ) |  | $ | 5,184 |  |  | $ | (30,980 | )
|  | Six months ended June 30, 2023 |
|  | Unrealized gain (loss) on available for sale securities (a) |  |  | Defined Benefit Pension Items (a) |  |  | Unrealized loss on interest rate swap (a) |  |  | Total |
Balance as of December 31, 2022 |  | $ | (37,514 | ) |  | $ | (1,056 | ) |  | $ | 5,429 |  |  | $ | (33,141 | )
Other comprehensive income before reclassifications (net of tax) |  |  | 2,356 |  |  |  | - |  |  |  | 529 |  |  |  | 2,885 |
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax) |  |  | 39 |  |  |  | 11 |  |  |  | (774 | ) |  |  | (724 | )
Net current period other comprehensive income (loss) |  |  | 2,395 |  |  |  | 11 |  |  |  | (245 | ) |  |  | 2,161 |
Balance as of June 30, 2023 |  | $ | (35,119 | ) |  | $ | (1,045 | ) |  | $ | 5,184 |  |  | $ | (30,980 | )
|  | Three months ended June 30, 2022 |
|  | Unrealized gain (loss) on available for sale securities (a) |  |  | Defined Benefit Pension Items (a) |  |  | Unrealized loss on interest rate swap (a) |  |  | Total |
Balance as of March 31, 2022 |  | $ | (16,276 | ) |  | $ | (1,940 | ) |  | $ | 3,451 |  |  | $ | (14,765 | )
Other comprehensive income (loss) before reclassifications (net of tax) |  |  | (12,652 | ) |  |  | - |  |  |  | 831 |  |  |  | (11,821 | )
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax) |  |  | - |  |  |  | 10 |  |  |  | 17 |  |  |  | 27 |
Net current period other comprehensive income (loss) |  |  | (12,652 | ) |  |  | 10 |  |  |  | 848 |  |  |  | (11,794 | )
Balance as of June 30, 2022 |  | $ | (28,928 | ) |  | $ | (1,930 | ) |  | $ | 4,299 |  |  | $ | (26,559 | )
|  | Six months ended June 30, 2022 |
|  | Unrealized gain (loss) on available for sale securities (a) |  |  | Defined Benefit Pension Items (a) |  |  | Unrealized loss on interest rate swap (a) |  |  | Total |
Balance as of December 31, 2021 |  | $ | 304 |  |  | $ | (1,968 | ) |  | $ | 1,509 |  |  | $ | (155 | )
Other comprehensive income (loss) before reclassifications (net of tax) |  |  | (29,232 | ) |  |  | - |  |  |  | 2,741 |  |  |  | (26,491 | )
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax) |  |  | - |  |  |  | 38 |  |  |  | 49 |  |  |  | 87 |
Net current period other comprehensive income (loss) |  |  | (29,232 | ) |  |  | 38 |  |  |  | 2,790 |  |  |  | (26,404 | )
Balance as of June 30, 2022 |  | $ | (28,928 | ) |  | $ | (1,930 | ) |  | $ | 4,299 |  |  | $ | (26,559 | )
(a) Amounts in parentheses indicate debits on the Consolidated Balance Sheet.
Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss | The following table presents the significant amounts reclassified out of each component of accumulated other comprehensive loss for the three and six months ended June 30, 2023 and 2022 (in thousands):
Details about accumulated other comprehensive income (loss) |  | Amount reclassified from accumulated comprehensive income (loss) (a) |  | Affected line item in the Consolidated Statement of Income
|  | Three Months Ended June 30, |  |
|  | 2023 |  |  | 2022 |  |
Unrealized gains and losses on available for sale securities |  |  |  |  |  |  |
|  | $ | (51 | ) |  | $ | - |  | Available for sale securities gains, net
|  |  | 12 |  |  |  | - |  | Provision for income taxes
|  | $ | (39 | ) |  | $ | - |  | Net of tax
Defined benefit pension items |  |  |  |  |  |  |  |  |
|  | $ | (7 | ) |  | $ | (12 | ) | Other expenses
|  |  | 2 |  |  |  | 2 |  | Provision for income taxes
|  | $ | (5 | ) |  | $ | (10 | ) | Net of tax
Unrealized gain (loss) on interest rate swap |  | $ | 524 |  |  | $ | (21 | ) | Interest expense
|  |  | (110 | ) |  |  | 4 |  | Provision for income taxes
|  | $ | 414 |  |  | $ | (17 | ) | Net of tax
Total reclassifications |  | $ | 370 |  |  | $ | (27 | ) |
Six Months Ended June 30,
|  | 2023 |  |  | 2022 |  |
Unrealized gains and losses on available for sale securities |  |  |  |  |  |  |
|  | $ | (51 | ) |  | $ | - |  | Available for sale securities gains, net
|  |  | 12 |  |  |  | - |  | Provision for income taxes
|  | $ | (39 | ) |  | $ | - |  | Net of tax
Defined benefit pension items |  |  |  |  |  |  |  |  |
|  | $ | (14 | ) |  | $ | (48 | ) | Other expenses
|  |  | 3 |  |  |  | 10 |  | Provision for income taxes
|  | $ | (11 | ) |  | $ | (38 | ) | Net of tax
Unrealized gain (loss) on interest rate swap |  | $ | 980 |  |  | $ | (62 | ) | Interest expense
|  |  | (206 | ) |  |  | 13 |  | Provision for income taxes
|  | $ | 774 |  |  | $ | (49 | ) | Net of tax
Total reclassifications |  | $ | 724 |  |  | $ | (87 | ) |
(a) Amounts in parentheses indicate expenses and other amounts indicate income on the Consolidated Statement of Income

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