Accumulated Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 12: Accumulated Other Comprehensive (Loss) Income

Changes in the components of accumulated other comprehensive (loss) income (“AOCI”), net of tax, for the periods indicated are summarized in the tables below.


	For the three months ended March 31, 2025
(In thousands)	Net Unrealized Loss on Retirement Plans			Unrealized Loss on Available-for-Sale Securities			Unrealized Gain on Derivatives and Hedging Activities			Total
Beginning balance	$	(1,991	)	$	(7,548	)	$	395		$	(9,144	)
Other comprehensive income (loss) before reclassifications		-			743			(60	)		683
Amounts reclassified from AOCI		25			4			-			29
Ending balance	$	(1,966	)	$	(6,801	)	$	335		$	(8,432	)


	For the three months ended March 31, 2024
(In thousands)	Net Unrealized Loss on Retirement Plans			Unrealized Loss on Available-for-Sale Securities			Unrealized Gain on Derivatives and Hedging Activities		Total
Beginning balance	$	(2,073	)	$	(7,564	)	$	32	$	(9,605	)
Other comprehensive income before reclassifications		-			223			379		602
Amounts reclassified from AOCI		27			114			-		141
Ending balance	$	(2,046	)	$	(7,227	)	$	411	$	(8,862	)

The following table presents the amounts reclassified out of each component of AOCI for the indicated period:


		Amount Reclassified
		from AOCI (1)
		(Unaudited)
(In thousands)		For the three months ended
Details about AOCI (1) components	Affected Line Item in the Statement of Income	March 31, 2025			March 31, 2024
Retirement plan items
Retirement plan net gains recognized in plan expenses (2)	Salaries and employee benefits	$	(34	)	$	(37	)
Tax effect	Provision for income taxes		9			10
	Net Income	$	(25	)	$	(27	)
Available-for-sale securities
Realized losses on sale of securities	Net losses on sales and redemptions of investment securities	$	(5	)	$	(154	)
Tax effect	Provision for income taxes		1			40
	Net Income	$	(4	)	$	(114	)

(1)

Amounts in parentheses indicates debits in net income.

(2)

These items are included in net periodic pension cost. See Note 5 for additional information.