Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Other Comprehensive Income (Loss)

The following tables present 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:


	For the Three Months Ended June 30,
	2025						2024
	Before Tax		Tax Effect		After Tax		Before Tax		Tax Effect		After Tax
	(In thousands)
Components of other comprehensive income (loss):
Unrealized gain (loss) on debt securities available for sale:	$	5,889	$	(1,639)	$	4,250	$	(626)	$	176	$	(450)
Accretion of unrealized (loss) gain on debt securities reclassified as held to maturity	6		(2)		4		3		(1)		2
Reclassification adjustment for (loss) included in net income	336		(93)		243		—		—		—
	6,231		(1,734)		4,497		(623)		175		(448)
Derivatives:
Unrealized (loss) gain on swap contracts accounted for as cash flow hedges	(1,649)		459		(1,190)		414		(116)		298
	(1,649)		459		(1,190)		414		(116)		298

Employee benefit plans:
Amortization of prior service cost included in net income	(34)		9		(25)		(14)		4		(10)
Reclassification adjustment of actuarial net gain (loss) included in net income	23		(6)		17		(548)		154		(394)
Change in funded status of retirement obligations	3,668		(1,021)		2,647		8,224		(2,315)		5,909
	3,657		(1,018)		2,639		7,662		(2,157)		5,505
Total other comprehensive income	$	8,239	$	(2,293)	$	5,946	$	7,453	$	(2,098)	$	5,355

15. Other Comprehensive Income (Loss) (Continued)


	For the Six Months Ended June 30,
	2025						2024
	Before Tax		Tax Effect		After Tax		Before Tax		Tax Effect		After Tax
	(In thousands)
Components of other comprehensive income (loss):
Unrealized gain (loss) on debt securities available for sale:	$	21,773	$	(6,058)	$	15,715	$	(7,575)	$	2,133	$	(5,442)
Accretion of unrealized (loss) gain on debt securities reclassified as held to maturity	(8)		2		(6)		8		(2)		6
Reclassification adjustment for (loss) included in net income	336		(93)		243		(1,256)		353		(903)
	22,101		(6,149)		15,952		(8,823)		2,484		(6,339)
Derivatives:
Unrealized (loss) gain on swap contracts accounted for as cash flow hedges	(4,616)		1,285		(3,331)		5,647		(1,589)		4,058
	(4,616)		1,285		(3,331)		5,647		(1,589)		4,058

Employee benefit plans:
Amortization of prior service cost included in net income	(67)		19		(48)		(28)		8		(20)
Reclassification adjustment of actuarial net gain (loss) included in net income	46		(13)		33		(1,082)		304		(778)
Change in funded status of retirement obligations	3,684		(1,026)		2,658		8,813		(2,481)		6,332
	3,663		(1,020)		2,643		7,703		(2,169)		5,534
Total other comprehensive income	$	21,148	$	(5,884)	$	15,264	$	4,527	$	(1,274)	$	3,253

Components of Other Comprehensive Income (Loss)

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


	For the Three Months Ended June 30,
	2025								2024
	Unrealized (Losses) on Debt Securities Available for Sale		Unrealized (Losses) on Swaps		Employee Benefit Plans		Accumulated Other Comprehensive (Loss)		Unrealized (Losses) on Debt Securities Available for Sale		Unrealized Gains on Swaps		Employee Benefit Plans		Accumulated Other Comprehensive (Loss)
	(In thousands)

Balance at beginning of period	$	(72,068)	$	(776)	$	(28,206)	$	(101,050)	$	(119,540)	$	3,346	$	(44,643)	$	(160,837)
Current period changes in other comprehensive income (loss)	4,497		(1,190)		2,639		5,946		(448)		298		5,505		5,355
Total other comprehensive income (loss)	$	(67,571)	$	(1,966)	$	(25,567)	$	(95,104)	$	(119,988)	$	3,644	$	(39,138)	$	(155,482)


	For the Six Months Ended June 30,
	2025								2024
	Unrealized (Losses) on Debt Securities Available for Sale		Unrealized Gains (Losses) on Swaps		Employee Benefit Plans		Accumulated Other Comprehensive (Loss)		Unrealized (Losses) on Debt Securities Available for Sale		Unrealized Gains (Losses) on Swaps		Employee Benefit Plans		Accumulated Other Comprehensive (Loss)
	(In thousands)

Balance at beginning of period	$	(83,523)	$	1,365	$	(28,210)	$	(110,368)	$	(113,649)	$	(414)	$	(44,672)	$	(158,735)
Current period changes in other comprehensive income (loss)	15,952		(3,331)		2,643		15,264		(6,339)		4,058		5,534		3,253
Total other comprehensive income (loss)	$	(67,571)	$	(1,966)	$	(25,567)	$	(95,104)	$	(119,988)	$	3,644	$	(39,138)	$	(155,482)

Reclassification out of AOCI

The following tables reflect amounts reclassified from accumulated other comprehensive income (loss) to the Consolidated Statements of Income and the affected line item in the statement where net income is presented for the three and six months ended June 30, 2025 and 2024:


	Accumulated Other Comprehensive Income (Loss) Components
	For the Three Months Ended June 30,				Affected Line Items in the Consolidated Statements of Income
	2025		2024
	(In thousands)

Reclassification adjustment for gain included in net income	$	336	$	—	Gain (loss) on securities transactions
Reclassification adjustment of actuarial net gain (loss) included in net income	$	23	$	(548)	Other non-interest expense
Total before tax	359		(548)
Income tax benefit	(99)		154
Net of tax	$	260	$	(394)


	Accumulated Other Comprehensive Income (Loss) Components
	For the Six Months Ended June 30,				Affected Line Items in the Consolidated Statements of Income
	2025		2024
	(In thousands)

Reclassification adjustment for gain (loss) included in net income	$	336	$	(1,256)	Gain (loss) on securities transactions
Reclassification adjustment of actuarial net gain (loss) included in net income	$	46	$	(1,082)	Other non-interest expense
Total before tax	382		(2,338)
Income tax benefit	(106)		657
Net of tax	$	276	$	(1,681)