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Stockholders’ Equity and Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Stockholders’ Equity and Accumulated Other Comprehensive Income (Loss) Stockholders’ Equity and Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
The following table summarizes the change in the components of the Company’s accumulated other comprehensive income (loss) for the nine months ended September 30, 2025 and 2024:
Nine Months Ended September 30, 2025
(dollars in thousands)
Unrealized Gains (Losses) on Securities (1)
Unrecognized Net Pension and Postretirement (Income) Costs (2)
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period$(24,416)$11,973 $(12,443)
Other comprehensive income (loss), before reclassifications6,179 (957)5,222 
Amounts reclassified from accumulated other comprehensive income (loss)
— — — 
Current period other comprehensive income (loss), before tax6,179 (957)5,222 
Income tax (expense) benefit(1,298)201 (1,097)
Current period other comprehensive income (loss), net of tax4,881 (756)4,125 
Balance at end of period$(19,535)$11,217 $(8,318)
Nine Months Ended September 30, 2024
(dollars in thousands)
Unrealized Gains (Losses) on Securities (1)
Unrecognized Net Pension and Postretirement (Income) Costs (2)
Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period$(21,461)$7,699 $(13,762)
Other comprehensive income (loss), before reclassifications2,501 (518)1,983 
Amounts reclassified from accumulated other comprehensive income (loss)
— — — 
Current period other comprehensive income (loss), before tax2,501 (518)1,983 
Income tax benefit(525)109 (416)
Current period other comprehensive income (loss), net of tax1,976 (409)1,567 
Balance at end of period$(19,485)$7,290 $(12,195)
(1)The pre-tax amounts reclassified from accumulated other comprehensive income (loss) are included in investment securities gains (losses), net, in the consolidated statements of income.
(2)The pre-tax amounts reclassified from accumulated other comprehensive income (loss) are included in the computation of net periodic pension income.
Repurchase Program
On June 5, 2025, the Company announced that its Board of Directors approved a new common stock repurchase program under which the Company may repurchase up to $10.0 million of its common stock, which replaced the Company’s prior common stock repurchase program. Pursuant to the repurchase program, management is given discretion to determine the number and pricing of the shares to be repurchased, as well as the timing of any such repurchases. The timing and total amount of stock repurchases will depend on market and other conditions and may be made from time to time in open market purchases or privately negotiated transactions. The program has no termination date, may be suspended or discontinued at any time and does not obligate the Company to acquire any amount of common stock. The Company repurchased 90,466 common shares under its repurchase programs during the first nine months of 2025 at an average cost of $27.72 per share totaling $2.5 million. As of September 30, 2025, $8.7 million remained available for share repurchases pursuant to the Company's current repurchase program.