v3.25.2
Other Comprehensive Income (Loss) (Tables)
6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Components of Other Comprehensive Income (Loss)
The following table presents the components of other comprehensive income (loss), both gross and net of tax, for the three and six months ended June 30, 2025 and 2024 (in thousands):
Three months ended June 30,
20252024
Before
Tax
Tax
Effect
After
Tax
Before
Tax
Tax
Effect
After
Tax
Components of Other Comprehensive Income:
Unrealized gains and losses on available for sale debt securities:
Net unrealized gains (losses) arising during the period$17,700 (8,555)9,145 16,718 (5,157)11,561 
Reclassification adjustment for losses included in net income— — — 2,973 (917)2,056 
Total17,700 (8,555)9,145 19,691 (6,074)13,617 
Unrealized gains and losses on derivatives (cash flow hedges):
Net unrealized (losses) gains arising during the period(976)277 (699)1,361 (420)941 
Reclassification adjustment for (gains) included in net income(2,289)648 (1,641)(3,734)1,152 (2,582)
Total(3,265)925 (2,340)(2,373)732 (1,641)
Amortization related to post-retirement obligations(459)130 (329)(514)159 (355)
Total other comprehensive income (loss) $13,976 (7,500)6,476 16,804 (5,183)11,621 
Six months ended June 30,
20252024
Before
Tax
Tax
Effect
After
Tax
Before
Tax
Tax
Effect
After
Tax
Components of Other Comprehensive Income:
Unrealized gains and losses on available for sale debt securities:
Net unrealized gains (losses) arising during the period $60,175 (24,244)35,931 2,319 (715)1,604 
Reclassification adjustment for (gains) losses included in net income(87)25 (62)2,973 (917)2,056 
Total60,088 (24,219)35,869 5,292 (1,632)3,660 
Unrealized gains and losses on derivatives (cash flow hedges):
Net unrealized (losses) gains arising during the period(829)235 (594)5,993 (1,849)4,144 
Reclassification adjustment for (gains) included in net income(4,229)1,198 (3,031)(7,909)2,440 (5,469)
Total(5,058)1,433 (3,625)(1,916)591 (1,325)
Amortization related to post-retirement obligations(919)260 (659)(1,712)528 (1,184)
Total other comprehensive income (loss)$54,111 (22,526)31,585 1,664 (513)1,151 
Components of Accumulated Other Comprehensive (Loss), Net of Tax
The following tables present the changes in the components of accumulated other comprehensive (loss), net of tax, for the three and six months ended June 30, 2025 and 2024 (in thousands):
Changes in Accumulated Other Comprehensive (Loss) by Component, net of tax
for the three months ended June 30,
20252024
Unrealized
Losses on
Available for Sale Debt Securities
Post- Retirement
Obligations
Unrealized Gains on Derivatives (cash flow hedges)Accumulated
Other
Comprehensive
(Loss)
Unrealized Losses on
 Available for Sale Debt Securities
Post-  Retirement
Obligations
Unrealized Gains on Derivatives (cash flow hedges)Accumulated
Other
Comprehensive (Loss)
Balance as of
March 31,
$(117,837)5,817 1,774 (110,246)(164,446)3,108 9,753 (151,585)
Current - period other comprehensive income (loss)9,145 (329)(2,340)6,476 13,617 (355)(1,641)11,621 
Balance as of June 30,$(108,692)5,488 (566)(103,770)(150,829)2,753 8,112 (139,964)
Changes in Accumulated Other Comprehensive (Loss) by Component, net of tax
for the six months ended June 30,
20252024
Unrealized
Losses on
Available for Sale Debt Securities
Post-  Retirement
Obligations
Unrealized Gains on Derivatives (cash flow hedges)Accumulated
Other
Comprehensive
Income (Loss)
Unrealized Losses on
 Available for Sale Debt Securities
Post- Retirement
Obligations
Unrealized Gains on Derivatives (cash flow hedges)Accumulated
Other
Comprehensive Income (Loss)
Balance as of December 31,$(144,561)6,147 3,059 (135,355)(154,489)3,937 9,437 (141,115)
Current - period other comprehensive income (loss)35,869 (659)(3,625)31,585 3,660 (1,184)(1,325)1,151 
Balance as of June 30,$(108,692)5,488 (566)(103,770)(150,829)2,753 8,112 (139,964)
Reclassifications Out of Accumulated Other Comprehensive (Loss)
The following tables summarize the reclassifications from accumulated other comprehensive (loss) to the consolidated statements of income for the three and six months ended June 30, 2025 and 2024 (in thousands):
Reclassifications From Accumulated Other Comprehensive
Income ("AOCI")
Amount reclassified from AOCI for the three months ended June 30,Affected line item in the Consolidated
Statement of Income
20252024
Details of AOCI:
Available for sale debt securities:
Realized net losses on the sale of securities available for sale$— 2,973 Net loss on securities transactions
— (917)Income tax expense
$— 2,056 Net of tax
Cash flow hedges:
Realized net gains (losses) on derivatives$2,289 (3,734)Interest expense
(648)1,152 Income tax expense
$1,641 (2,582)
Post-retirement obligations:
Amortization of actuarial gains$(459)(514)
Compensation and employee benefits (1)
130 159 Income tax expense
$(329)(355)Net of tax
Total reclassifications$1,312 (881)Net of tax
Reclassifications From Accumulated Other Comprehensive
Income
Amount reclassified from AOCI for the six months ended September 30,Affected line item in the Consolidated
Statement of Income
20252024
Details of AOCI:
Available for sale debt securities:
Realized net losses on the sale of securities available for sale$87 2,973 Net loss on securities transactions
(25)(917)Income tax expense
$62 2,056 Net of tax
Cash flow hedges:
Realized net gains (losses) on derivatives$4,229 (7,909)Interest expense
1,198 2,440 Income tax expense
$5,427 (5,469)
Post-retirement obligations:
Amortization of actuarial gains$(919)(1,030)
Compensation and employee benefits (1)
260 318 Income tax expense
$(659)(712)Net of tax
Total reclassifications$4,830 (4,125)Net of tax
(1) This item is included in the computation of net periodic benefit cost. See Note 7. Components of Net Periodic Benefit Cost.