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Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Loss

Schedule of accumulated other comprehensive loss, net of tax

The following tables present the changes in each component of accumulated other comprehensive loss, net of tax, for the three and nine months ended September 30, 2023 and 2022 (in thousands):

Three months ended September 30, 2023

Three months ended September 30, 2022

Net

Net

Unrealized

Unrealized

Gains and

Gains and

Losses on

Defined

Losses on

Defined

Investment

Interest

Benefit

Investment

Benefit

Securities

Rate

Pension

Securities

Pension

AFS⁽¹⁾

Hedge⁽¹⁾

Items⁽¹⁾

Total⁽¹⁾

AFS⁽¹⁾

Items⁽¹⁾

Total⁽¹⁾

Beginning balance

$

(17,049)

$

261

$

(7,582)

$

(24,370)

$

(8,766)

$

(11,467)

$

(20,233)

Other comprehensive income (loss) before reclassifications

(2,700)

443

(23)

(2,280)

(6,370)

(498)

(6,868)

Amounts reclassified from accumulated other comprehensive loss

—

(127)

23

(104)

—

451

451

Net current period other comprehensive income (loss)

(2,700)

316

—

(2,384)

(6,370)

(47)

(6,417)

Ending balance

$

(19,749)

$

577

$

(7,582)

$

(26,754)

$

(15,136)

$

(11,514)

$

(26,650)

(1)	Amounts in parentheses indicate debits on the Consolidated Balance Sheets.

Nine months ended September 30, 2023

Nine months ended September 30, 2022

Net

Net

Unrealized

Unrealized

Gains and

Gains and

Losses on

Defined

Losses on

Defined

Investment

Interest

Benefit

Investment

Benefit

Securities

Rate

Pension

Securities

Pension

AFS⁽¹⁾

Hedge⁽¹⁾

Items⁽¹⁾

Total⁽¹⁾

AFS⁽¹⁾

Items⁽¹⁾

Total⁽¹⁾

Beginning balance

$

(14,938)

$

—

$

(7,582)

$

(22,520)

$

1,386

$

(7,898)

$

(6,512)

Other comprehensive income (loss) before reclassifications

(4,811)

798

(23)

(4,036)

(16,522)

(5,408)

(21,930)

Amounts reclassified from accumulated other comprehensive loss

—

(221)

23

(198)

—

1,792

1,792

Net current period other comprehensive income (loss)

(4,811)

577

—

(4,234)

(16,522)

(3,616)

(20,138)

Ending balance

$

(19,749)

$

577

$

(7,582)

$

(26,754)

$

(15,136)

$

(11,514)

$

(26,650)

(1) Amounts in parentheses indicate debits on the Consolidated Balance Sheets.

Schedule of reclassification out of accumulated other comprehensive loss

The following tables present the amounts reclassified out of each component of accumulated other comprehensive loss for the three and nine months ended September 30, 2023 and 2022 (in thousands):


		Amount reclassified from accumulated
		other comprehensive loss⁽¹⁾
		For the three			For the three
Details about accumulated other		months ended			months ended			Affected line item in the
comprehensive loss components		September 30, 2023			September 30, 2022			statement of operations
Interest rate hedge
		$	(161)		$	—		Interest expense - Deposits
			34			—		Provision for income taxes
		$	(127)		$	—
Amortization of estimated defined benefit pension plan loss⁽²⁾
		$	29		$	571		Other expense
			(6)			(120)		Provision for income taxes
		$	23		$	451
Total reclassifications for the period		$	(104)		$	451

(1) Amounts in parentheses indicate credits.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (see Note 16 for additional details).


		Amount reclassified from accumulated
		other comprehensive loss⁽¹⁾
		For the nine			For the nine
Details about accumulated other		months ended			months ended			Affected line item in the
comprehensive loss components		September 30, 2023			September 30, 2022			statement of operations
Interest rate hedge
		$	(280)		$	—		Interest expense - Deposits
			59			—		Provision for income taxes
		$	(221)		$	—
Amortization of estimated defined benefit pension plan loss⁽²⁾
		$	29		$	2,268		Other expense
			(6)			(476)		Provision for income taxes
		$	23		$	1,792
Total reclassifications for the period		$	(198)		$	1,792

(1) Amounts in parentheses indicate credits.

(2) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (see Note 16 for additional details).