v3.25.2
Accumulated Other Comprehensive Loss (Tables)
6 Months Ended
Jun. 30, 2025
Accumulated Other Comprehensive Loss [Abstract]  
Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax

The following tables present the changes in accumulated other comprehensive loss by component, net of tax, for the three and six months ended June 30, 2025 and 2024 (in thousands):

   
Unrealized gain
(loss) on available
for sale securities
(a)
   
Defined Benefit
Pension Items
(a)
   
Unrealized loss
on interest rate
swap (a)
   
Total
 
    Three months ended June 30, 2025
 
Balance as of March 31, 2025
 
$
(22,663
)
 
$
(304
)
 
$
2,728
   
$
(20,239
)
Other comprehensive (loss) income before reclassifications (net of tax)
   
(448
)
   
-
     
55
     
(393
)
Amounts reclassified from accumulated other comprehensive loss (net of tax)
   
-
     
-
     
(394
)
   
(394
)
Net current period other comprehensive loss
   
(448
)
   
-
     
(339
)
   
(787
)
Balance as of June 30, 2025
 
$
(23,111
)
 
$
(304
)
 
$
2,389
   
$
(21,026
)

 
Six months ended June 30, 2025
 
Balance as of December 31, 2024
 
$
(26,564
)
 
$
(304
)
 
$
3,347
   
$
(23,521
)
Other comprehensive income (loss) before reclassifications (net of tax)
   
3,453
     
-
     
(140
)
   
3,313
 
Amounts reclassified from accumulated other comprehensive loss (net of tax)
   
-
     
-
     
(818
)
   
(818
)
Net current period other comprehensive income (loss)
   
3,453
     
-
     
(958
)
   
2,495
 
Balance as of June 30, 2025
 
$
(23,111
)
 
$
(304
)
 
$
2,389
   
$
(21,026
)


 
Three months ended June 30, 2024
 
Balance as of March 31, 2024
 
$
(30,069
)
 
$
(970
)
 
$
4,419
   
$
(26,620
)
Other comprehensive income before reclassifications (net of tax)
   
911
     
-
     
263
     
1,174
 
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
   
-
     
11
     
(497
)
   
(486
)
Net current period other comprehensive income (loss)
   
911
     
11
     
(234
)
   
688
 
Balance as of June 30, 2024
 
$
(29,158
)
 
$
(959
)
 
$
4,185
   
$
(25,932
)

 
Six months ended June 30, 2024
 
   
Unrealized gain
(loss) on available
for sale securities
(a)
   
Defined Benefit
Pension Items
(a)
   
Unrealized loss
on interest rate
swap (a)
   
Total
 
Balance as of December 31, 2023
 
$
(28,238
)
 
$
(972
)
 
$
4,299
   
$
(24,911
)
Other comprehensive (loss) income before reclassifications (net of tax)
   
(920
)
   
-
     
887
     
(33
)
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
   
-
     
13
     
(1,001
)
   
(988
)
Net current period other comprehensive (loss) income
   
(920
)
   
13
     
(114
)
   
(1,021
)
Balance as of June 30, 2024
 
$
(29,158
)
 
$
(959
)
 
$
4,185
   
$
(25,932
)

(a) Amounts in parentheses indicate debits on the Consolidated Balance Sheet.
Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss

The following table presents the significant amounts reclassified out of each component of accumulated other comprehensive loss for the three and six months ended June 30, 2025 and 2024 (in thousands):

Details about accumulated other comprehensive income (loss)
 
Amount reclassified from accumulated comprehensive
income (loss) (a)
 
Affected line item in the Consolidated Statement of Income
 
 
Three Months Ended June 30,
 
 
 
 
2025
   
2024
 
 
Unrealized gains and losses on available for sale securities
           
             
   
$
-
   
$
-
Available for sale securities gains, net
     
-
     
-
 
Provision for income taxes
   
$
-
   
$
-
Net of tax
Defined benefit pension items
                                       
 
 
$
-
 
$
(14
)
Other expenses
 
   
-
     
3
 
Provision for income taxes
 
 
$
-
 
$
(11
)
Net of tax
Unrealized gain (loss) on interest rate swap
  $ 498     $ 630  
Interest expense
      (104 )     (133 )
Provision for income taxes
    $ 394     $ 497  
Net of tax
                                       
Total reclassifications
 
$
394
   
$
486
 
 

Six Months Ended June 30,
 
 
2025
   
2024
 
 
Unrealized gains and losses on available for sale securities
           
                 
   
$
-
   
$
-
Available for sale securities gains, net
     
-
     
-
 
Provision for income taxes
   
$
-
   
$
-
Net of tax
Defined benefit pension items
                                               
 
 
$
-
 
$
(16
)
Other expenses
 
   
-
     
3
 
Provision for income taxes
 
 
$
-
 
$
(13
)
Net of tax
Unrealized gain (loss) on interest rate swap   $ 1,035     $ 1,268  
Interest expense
      (217 )     (267 )
Provision for income taxes
    $ 818     $ 1,001  
Net of tax
                                                         
Total reclassifications
 
$
818
   
$
988
 
 

(a) Amounts in parentheses indicate expenses and other amounts indicate income on the Consolidated Statement of Income