Accumulated Other Comprehensive Income (Loss) (AOCI)

6 Months Ended

Jun. 30, 2024

Accumulated Other Comprehensive Income (Loss) ("AOCI")

Accumulated Other Comprehensive Income (Loss) ("AOCI")

3) Accumulated Other Comprehensive Income (Loss) (“AOCI”)

The following table reflects the changes in AOCI by component for the periods indicated:

	Three Months Ended June 30, 2024 and 2023
	Unrealized
	Gains (Losses)
	on Available-		Defined
	for-Sale		Benefit
	Securities		Pension
	and I/O		Plan
	Strips		Items(1)		Total
	(Dollars in thousands)
Beginning balance April 1, 2024, net of taxes	$	(6,853)	$	(5,735)	$	(12,588)
Other comprehensive income (loss) before reclassification,
net of taxes		907		(16)		891
Amounts reclassified from other comprehensive income
(loss), net of taxes		—		(18)		(18)
Net current period other comprehensive income (loss),
net of taxes		907		(34)		873
Ending balance June 30, 2024, net of taxes	$	(5,946)	$	(5,769)	$	(11,715)
Beginning balance April 1, 2023, net of taxes	$	(8,817)	$	(5,500)	$	(14,317)
Other comprehensive income (loss) before reclassification,
net of taxes		(2,902)		(14)		(2,916)
Amounts reclassified from other comprehensive income
(loss), net of taxes		—		(25)		(25)
Net current period other comprehensive income (loss),
net of taxes		(2,902)		(39)		(2,941)
Ending balance June 30, 2023, net of taxes	$	(11,719)	$	(5,539)	$	(17,258)

(1) This AOCI component is included in the computation of net periodic benefit cost (see Note 8 “Benefit Plans”) and includes split-dollar life insurance benefit plan.

	Six Months Ended June 30, 2024 and 2023
	Unrealized
	Gains (Losses)
	on Available-		Defined
	for-Sale		Benefit
	Securities		Pension
	and I/O		Plan
	Strips		Items(1)		Total
	(Dollars in thousands)
Beginning balance January 1, 2024, net of taxes	$	(7,029)		(5,701)		(12,730)
Other comprehensive income (loss) before reclassification,
net of taxes		1,083		(32)		1,051
Amounts reclassified from other comprehensive income
(loss), net of taxes		—		(36)		(36)
Net current period other comprehensive income (loss),
net of taxes		1,083		(68)		1,015
Ending balance June 30, 2024, net of taxes	$	(5,946)	$	(5,769)	$	(11,715)
Beginning balance January 1, 2023, net of taxes	$	(11,394)	$	(5,462)	$	(16,856)
Other comprehensive income (loss) before reclassification,
net of taxes		(325)		(28)		(353)
Amounts reclassified from other comprehensive income
(loss), net of taxes		—		(49)		(49)
Net current period other comprehensive income (loss),
net of taxes		(325)		(77)		(402)
Ending balance June 30, 2023, net of taxes	$	(11,719)	$	(5,539)	$	(17,258)

(1) This AOCI component is included in the computation of net periodic benefit cost (see Note 8 “Benefit Plans”) and includes split-dollar life insurance benefit plan.

	Amounts Reclassified from
	AOCI
	Three Months Ended
	June 30,				Affected Line Item Where
Details About AOCI Components	2024		2023		Net Income is Presented
	(Dollars in thousands)
Amortization of defined benefit pension plan items (1)
Prior transition obligation and actuarial losses (2)	$	52	$	48
Prior service cost and actuarial losses (3)		(26)		(13)
		26		35	Other noninterest expense
		(8)		(10)	Income tax benefit
Total reclassification from AOCI for the period	$	18	$	25	Net of tax

(1) This AOCI component is included in the computation of net periodic benefit cost (see Note 8 “Benefit Plans”).

(2) This is related to the split dollar life insurance benefit plan.

(3) This is related to the supplemental executive retirement plan.

	Amounts Reclassified from
	AOCI
	Six Months Ended
	June 30,				Affected Line Item Where
Details About AOCI Components	2024		2023		Net Income is Presented
	(Dollars in thousands)
Amortization of defined benefit pension plan items (1)
Prior transition obligation and actuarial losses (2)	$	104	$	95
Prior service cost and actuarial losses (3)		(52)		(26)
		52		69	Other noninterest expense
		(16)		(20)	Income tax benefit
Total reclassification from AOCI for the period	$	36	$	49	Net of tax

(1) This AOCI component is included in the computation of net periodic benefit cost (see Note 8 “Benefit Plans”).

(2) This is related to the split dollar life insurance benefit plan.

(3) This is related to the supplemental executive retirement plan.