| Comprehensive Income/(Loss) |
NOTE 10. COMPREHENSIVE INCOME/(LOSS) The activity in accumulated other comprehensive income/(loss) for the six months ended June 30, 2026 and 2025 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated Other Comprehensive Income/(Loss) (1) |
|
(unaudited, in thousands) |
|
Defined
Benefit
Plans |
|
|
Unrealized
Gains (Losses)
on Debt Securities
Available-for-Sale |
|
|
Total |
|
Balance at December 31, 2025 |
|
$ |
6,584 |
|
|
$ |
(139,904 |
) |
|
$ |
(133,320 |
) |
Other comprehensive loss before reclassifications |
|
|
— |
|
|
|
(18,788 |
) |
|
|
(18,788 |
) |
Amounts reclassified from accumulated other comprehensive loss |
|
|
(458 |
) |
|
|
(591 |
) |
|
|
(1,049 |
) |
Period change |
|
|
(458 |
) |
|
|
(19,379 |
) |
|
|
(19,837 |
) |
Balance at June 30, 2026 |
|
$ |
6,126 |
|
|
$ |
(159,283 |
) |
|
$ |
(153,157 |
) |
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2024 |
|
$ |
5,124 |
|
|
$ |
(223,756 |
) |
|
$ |
(218,632 |
) |
Other comprehensive income before reclassifications |
|
|
— |
|
|
|
45,567 |
|
|
|
45,567 |
|
Amounts reclassified from accumulated other comprehensive income |
|
|
(275 |
) |
|
|
(304 |
) |
|
|
(579 |
) |
Period change |
|
|
(275 |
) |
|
|
45,263 |
|
|
|
44,988 |
|
Balance at June 30, 2025 |
|
$ |
4,849 |
|
|
$ |
(178,493 |
) |
|
$ |
(173,644 |
) |
(1)All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 23% in both periods presented. The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and six months ended June 30, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Details about Accumulated Other Comprehensive
Income/(Loss) Components |
|
For the Three Months
Ended June 30, |
|
|
For the Six Months
Ended June 30, |
|
|
|
Affected Line Item in the Statement
of Comprehensive Income |
(unaudited, in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
|
|
Debt securities available-for-sale (1): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net securities gains reclassified into earnings |
|
$ |
(101 |
) |
|
$ |
(9 |
) |
|
$ |
(137 |
) |
|
$ |
(50 |
) |
|
|
Net securities gains/(losses) (Non-interest income) |
Related income tax effect ⁽²⁾ |
|
|
23 |
|
|
|
3 |
|
|
|
32 |
|
|
|
14 |
|
|
|
Provision for income taxes |
Amortization of state tax rate change
reclassified into earnings |
|
|
(243 |
) |
|
|
(210 |
) |
|
|
(486 |
) |
|
|
(268 |
) |
|
|
Provision for income taxes |
Net effect on accumulated other comprehensive
income for the period |
|
|
(321 |
) |
|
|
(216 |
) |
|
|
(591 |
) |
|
|
(304 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Defined benefit plans (3): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of net gain and prior service costs |
|
|
(300 |
) |
|
|
(194 |
) |
|
|
(594 |
) |
|
|
(366 |
) |
|
|
Employee benefits (Non-interest expense) |
Related income tax effect ⁽²⁾ |
|
|
69 |
|
|
|
46 |
|
|
|
136 |
|
|
|
91 |
|
|
|
Provision for income taxes |
Net effect on accumulated other comprehensive
income for the period |
|
|
(231 |
) |
|
|
(148 |
) |
|
|
(458 |
) |
|
|
(275 |
) |
|
|
|
Total reclassifications for the period |
|
$ |
(552 |
) |
|
$ |
(364 |
) |
|
$ |
(1,049 |
) |
|
$ |
(579 |
) |
|
|
|
(1)For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 3, “Securities.” (2)Income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 23% in both periods presented. (3)Included in the computation of net periodic pension cost. See Note 7, “Benefit Plans” for additional detail. |