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Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2024

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

10. Accumulated Other Comprehensive Loss

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, 2024 and 2023 (in thousands):


		Three months ended September 30, 2024												Three months ended September 30, 2023
		Net												Net
		Unrealized												Unrealized
		Gains and												Gains and
		Losses on						Defined						Losses on						Defined
		Investment			Interest			Benefit						Investment			Interest			Benefit
		Securities			Rate			Pension						Securities			Rate			Pension
		AFS⁽¹⁾			Hedge⁽¹⁾			Items⁽¹⁾			Total⁽¹⁾			AFS⁽¹⁾			Hedge⁽¹⁾			Items⁽¹⁾			Total⁽¹⁾
Beginning balance		$	(14,090)		$	349		$	(3,848)		$	(17,589)		$	(17,049)		$	261		$	(7,582)		$	(24,370)
Other comprehensive income (loss) before reclassifications			3,966			(724)			726			3,968			(2,700)			443			(23)			(2,280)
Amounts reclassified from accumulated other comprehensive loss			—			(162)			27			(135)			—			(127)			23			(104)
Net current period other comprehensive income (loss)			3,966			(886)			753			3,833			(2,700)			316			—			(2,384)
Ending balance		$	(10,124)		$	(537)		$	(3,095)		$	(13,756)		$	(19,749)		$	577		$	(7,582)		$	(26,754)

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

Nine months ended September 30, 2024

Nine months ended September 30, 2023

Net

Net

Unrealized

Unrealized

Gains and

Gains and

Losses on

Defined

Losses on

Defined

Investment

Interest

Benefit

Investment

Interest

Benefit

Securities

Rate

Pension

Securities

Rate

Pension

AFS⁽¹⁾

Hedge⁽¹⁾

Items⁽¹⁾

Total⁽¹⁾

AFS⁽¹⁾

Hedge⁽¹⁾

Items⁽¹⁾

Total⁽¹⁾

Beginning balance

$

(13,730)

$

(352)

$

(5,894)

$

(19,976)

$

(14,938)

$

—

$

(7,582)

$

(22,520)

Other comprehensive income (loss) before reclassifications

3,606

292

2,475

6,373

(4,811)

798

(23)

(4,036)

Amounts reclassified from accumulated other comprehensive loss

—

(477)

324

(153)

—

(221)

23

(198)

Net current period other comprehensive income (loss)

3,606

(185)

2,799

6,220

(4,811)

577

—

(4,234)

Ending balance

$

(10,124)

$

(537)

$

(3,095)

$

(13,756)

$

(19,749)

$

577

$

(7,582)

$

(26,754)

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

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, 2024 and 2023 (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, 2024			September 30, 2023			statement of operations
Interest rate hedge
		$	(205)		$	(161)		Interest expense - Deposits
			43			34		Provision for income taxes
		$	(162)		$	(127)
Amortization of estimated defined benefit pension plan loss⁽²⁾
		$	34		$	29		Other expense
			(7)			(6)		Provision for income taxes
		$	27		$	23
Total reclassifications for the period		$	(135)		$	(104)


		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, 2024			September 30, 2023			statement of operations
Interest rate hedge
		$	(604)		$	(280)		Interest expense - Deposits
			127			59		Provision for income taxes
		$	(477)		$	(221)
Amortization of estimated defined benefit pension plan loss⁽²⁾
		$	410		$	29		Other expense
			(86)			(6)		Provision for income taxes
		$	324		$	23
Total reclassifications for the period		$	(153)		$	(198)

(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 15 for additional details).