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ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Dec. 31, 2023

ACCUMULATED OTHER COMPREHENSIVE LOSS

Schedule of accumulated other comprehensive loss, net of tax

The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the periods ended December 31, 2023, 2022, and 2021 (in thousands):


		YEAR ENDED DECEMBER 31, 2023												YEAR ENDED DECEMBER 31, 2022									YEAR ENDED DECEMBER 31, 2021
		Net												Net									Net
		Unrealized												Unrealized									Unrealized
		Gains and												Gains and									Gains and
		Losses on						Defined						Losses on			Defined						Losses on			Defined
		Investment			Interest			Benefit						Investment			Benefit						Investment			Benefit
		Securities			Rate			Pension						Securities			Pension						Securities			Pension
		AFS⁽¹⁾			Hedge⁽¹⁾			Items⁽¹⁾			Total⁽¹⁾			AFS⁽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)		$	3,539		$	(16,737)		$	(13,198)
Other comprehensive income (loss) before reclassifications			479			11			1,659			2,149			(16,324)			(2,708)			(19,032)			(2,087)			5,555			3,468
Amounts reclassified from accumulated other comprehensive loss			729			(363)			29			395			—			3,024			3,024			(66)			3,284			3,218
Net current period other comprehensive income (loss)			1,208			(352)			1,688			2,544			(16,324)			316			(16,008)			(2,153)			8,839			6,686
Ending balance		$	(13,730)		$	(352)		$	(5,894)		$	(19,976)		$	(14,938)		$	(7,582)		$	(22,520)		$	1,386		$	(7,898)		$	(6,512)

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

Schedule of reclassification out of accumulated other comprehensive loss

The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss for the periods ended December 31, 2023, 2022, and 2021 (in thousands):


		Amount reclassified from accumulated
		other comprehensive loss⁽¹⁾

Details about accumulated other		YEAR ENDED			YEAR ENDED			YEAR ENDED			Affected line item in the
comprehensive loss components		DECEMBER 31, 2023			DECEMBER 31, 2022			DECEMBER 31, 2021			statement of operations
Realized (gains) losses on sale of securities
		$	922		$	—		$	(84)		Net realized gains (losses) on investment securities
			(193)			—			18		Provision (benefit) for income taxes
		$	729		$	—		$	(66)
Interest rate hedge
		$	(460)		$	—		$	—		Interest expense - Deposits
			97			—			—		Provision (benefit) for income taxes
		$	(363)		$	—		$	—
Amortization of estimated defined benefit pension plan loss⁽²⁾
		$	37		$	3,828		$	4,157		Other expense
			(8)			(804)			(873)		Provision (benefit) for income taxes
		$	29		$	3,024		$	3,284
Total reclassifications for the period		$	395		$	3,024		$	3,218

(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).