Accumulated Other Comprehensive Loss ("AOCL") (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Accumulated Other Comprehensive Loss ("AOCL") |
|
| Schedule of Accumulated Other Comprehensive Loss |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Investment
securities-
with credit related impairment
AFS | | Investment
securities-
all other
AFS | | Investment
securities-
HTM | | Cash Flow
Hedge | | Pension
Plan | | SERP | | Total | Accumulated OCL, net: | | | | | | | | | | | | | | | | | | | | | | Balance - January 1, 2024 | | $ | (2,482) | | $ | (13,217) | | $ | (5,201) | | $ | 569 | | $ | (14,263) | | $ | (1,233) | | $ | (35,827) | Other comprehensive income/(loss) before reclassifications | | | (163) | | | (374) | | | — | | | (197) | | | 3,945 | | | 1,301 | | | 4,512 | Amounts reclassified from accumulated
other comprehensive loss | | | (148) | | | — | | | 505 | | | — | | | 595 | | | 115 | | | 1,067 | Balance - December 31, 2024 | | $ | (2,793) | | $ | (13,591) | | $ | (4,696) | | $ | 372 | | $ | (9,723) | | $ | 183 | | $ | (30,248) | Other comprehensive income/(loss) before reclassifications | | | 564 | | | 3,279 | | | — | | | (299) | | | 1,088 | | | (304) | | | 4,328 | Amounts reclassified from accumulated
other comprehensive loss | | | (148) | | | (71) | | | 484 | | | — | | | 389 | | | — | | | 654 | Balance - December 31, 2025 | | $ | (2,377) | | $ | (10,383) | | $ | (4,212) | | $ | 73 | | $ | (8,246) | | $ | (121) | | $ | (25,266) |
|
| Components of Comprehensive Income |
| | | | | | | | | | | | | | | | | | | | Components of Other Comprehensive Income
(in thousands) | | Before Tax
Amount | | Tax (Expense)
Benefit | | Net | For the year ended December 31, 2025 | | | | | | | | | | Available for sale (AFS) securities with credit-related impairment | | | | | | | | | | Unrealized holding gains | | $ | 767 | | $ | (203) | | $ | 564 | Less: accretable yield recognized in income | | | 202 | | | (54) | | | 148 | Net unrealized gains on investments with credit-related impairment | | | 565 | | | (149) | | | 416 | Available for sale securities – all other: | | | | | | | | | | Unrealized holding gains | | | 4,462 | | | (1,183) | | | 3,279 | Less: gains recognized in income | | | 97 | | | (26) | | | 71 | Net unrealized gains on all other AFS securities | | | 4,365 | | | (1,157) | | | 3,208 | Held to maturity securities: | | | | | | | | | | Unrealized holding losses on securities transferred to held to maturity | | | — | | | — | | | — | Less: amortization recognized in income | | | (659) | | | 175 | | | (484) | Net unrealized gains on HTM securities | | | 659 | | | (175) | | | 484 | Cash flow hedges: | | | | | | | | | | Unrealized holding losses | | | (378) | | | 79 | | | (299) | Net unrealized losses on cash flow hedges | | | (378) | | | 79 | | | (299) | Pension Plan: | | | | | | | | | | Unrealized net actuarial gain | | | 1,481 | | | (393) | | | 1,088 | Less: amortization of unrecognized loss | | | (529) | | | 140 | | | (389) | Net pension plan asset adjustment | | | 2,010 | | | (533) | | | 1,477 | SERP: | | | | | | | | | | Unrealized net actuarial loss | | | (414) | | | 110 | | | (304) | Net SERP liability adjustment | | | (414) | | | 110 | | | (304) | Other comprehensive income | | $ | 6,807 | | $ | (1,825) | | $ | 4,982 |
| | | | | | | | | | | | | | | | | | | | Components of Other Comprehensive Income
(in thousands) | | Before Tax
Amount | | Tax Benefit (Expense) | | Net | For the year ended December 31, 2024 | | | | | | | | | | Available for sale (AFS) securities with credit related impairment: | | | | | | | | | | Unrealized holding losses | | $ | (221) | | $ | 58 | | $ | (163) | Less: accretable yield recognized in income | | | 202 | | | (54) | | | 148 | Net unrealized losses on investments with credit-related impairment | | | (423) | | | 112 | | | (311) | Available for sale securities – all other: | | | | | | | | | | Unrealized holding losses | | | (510) | | | 136 | | | (374) | Net unrealized losses on all other AFS securities | | | (510) | | | 136 | | | (374) | Held to maturity securities: | | | | | | | | | | Unrealized holding losses on securities transferred to held to maturity | | | — | | | — | | | — | Less: amortization recognized in income | | | (688) | | | 183 | | | (505) | Net unrealized gains on HTM securities | | | 688 | | | (183) | | | 505 | Cash flow hedges: | | | | | | | | | | Unrealized holding losses | | | (301) | | | 104 | | | (197) | Net unrealized losses on cash flow hedges | | | (301) | | | 104 | | | (197) | Pension Plan: | | | | | | | | | | Unrealized net actuarial gain | | | 5,375 | | | (1,430) | | | 3,945 | Less: amortization of unrecognized loss | | | (811) | | | 216 | | | (595) | Net pension plan asset adjustment | | | 6,186 | | | (1,646) | | | 4,540 | SERP: | | | | | | | | | | Unrealized net actuarial gain | | | 1,773 | | | (472) | | | 1,301 | Less: amortization of unrecognized loss | | | (157) | | | 42 | | | (115) | Net SERP liability adjustment | | | 1,930 | | | (514) | | | 1,416 | Other comprehensive income | | $ | 7,570 | | $ | (1,991) | | $ | 5,579 |
|
| Reclassification out of Accumulated Other Comprehensive Loss |
| | | | | | Details of Accumulated Other Comprehensive Loss Components | | Amount Reclassified from Accumulated Other Comprehensive Loss | | Affected Line Item in the Statement | (in thousands) | | 2025 | | Where Net Income is Presented | Net unrealized gains on investment securities with credit related impairment: | | | | | | Accretable Yield | | $ | 202 | | Interest income on taxable investment securities | Taxes | | | (54) | | Provision for income tax expense | | | $ | 148 | | Net of tax | Net unrealized gains on available for sale
investment securities - all other: | | | | | | Gains on sales | | $ | 97 | | Net gains | Taxes | | | (26) | | Provision for income tax expense | | | $ | 71 | | Net of tax | Net unrealized losses on held to maturity
investment securities: | | | | | | Amortization | | $ | (659) | | Interest income on taxable investment securities | Taxes | | | 175 | | Credit for income tax expense | | | $ | (484) | | Net of tax | Net pension plan asset adjustment: | | | | | | Amortization of unrecognized loss | | $ | (529) | | Other expense | Taxes | | | 140 | | Credit for income tax expense | | | $ | (389) | | Net of tax | Total reclassifications for the period | | $ | (654) | | Net of tax |
| | | | | | Details of Accumulated Other Comprehensive Loss Components | | Amount Reclassified from Accumulated Other Comprehensive Loss | | Affected Line Item in the Statement | (in thousands) | | 2024 | | Where Net Income is Presented | Net unrealized gains on investment securities with credit related impairment: | | | | | | Accretable Yield | | $ | 202 | | Interest income on taxable investment securities | Taxes | | | (54) | | Provision for income tax expense | | | $ | 148 | | Net of tax | Net unrealized losses on held to maturity
investment securities: | | | | | | Amortization | | $ | (688) | | Interest income on taxable investment securities | Taxes | | | 183 | | Credit for income tax expense | | | $ | (505) | | Net of tax | Net pension plan asset adjustment: | | | | | | Amortization of unrecognized loss | | $ | (811) | | Other expense | Taxes | | | 216 | | Credit for income tax expense | | | $ | (595) | | Net of tax | Net SERP liability adjustment: | | | | | | Amortization of unrecognized loss | | $ | (157) | | Other expense | Taxes | | | 42 | | Credit for income tax expense | | | $ | (115) | | Net of tax | Total reclassifications for the period | | $ | (1,067) | | Net of tax |
|