OTHER COMPREHENSIVE (LOSS) INCOME

12 Months Ended

Dec. 31, 2022

Statement of Other Comprehensive Loss [Abstract]

OTHER COMPREHENSIVE (LOSS) INCOME [Text Block]

NOTE 18 – OTHER COMPREHENSIVE (LOSS) INCOME 

The following table presents change in accumulated other comprehensive (loss) income for the years ended December 31, 2022,

2021, and 2020:

Changes in Accumulated Other Comprehensive (Loss) Income by Component

(1)

Year ended December 31,

2022

2021

2020

(In thousands)

Unrealized net holding (losses) gains on available-for-sale debt securities:

Beginning balance

$

(87,390)

$

55,725

$

6,764

 Other comprehensive (loss) income

(718,582)

(143,115)

48,961

Ending balance

$

(805,972)

$

(87,390)

$

55,725

Adjustment of pension and postretirement benefit plans:

Beginning balance

$

3,391

$

(270)

$

-

 Other comprehensive (loss) income

(2,197)

3,661

(270)

Ending balance

$

1,194

$

3,391

$

(270)

____________________

(1) All amounts presented are net of tax.

The following table presents the amounts reclassified out of each component of accumulated other comprehensive (loss) income for

the years ended December 31, 2022, 2021, and 2020:

Reclassifications Out of Accumulated Other

Comprehensive (Loss) Income

Affected Line Item in the Consolidated

Statements of Income

Year ended

December 31,

2022

2021

2020

(In thousands)

Unrealized net holding (losses) gains on

 available-for-sale debt securities:

Realized gain on sales

Net gain on investment securities

$

-

$

-

$

(13,198)

Adjustment of pension and postretirement

 benefit plans:

Amortization of net loss

Other expenses

3

1

-

Total before tax

$

3

$

1

$

(13,198)

Income tax expense 

(1)

-

-

Total, net of tax

$

2

$

1

$

(13,198)