ACCUMULATED OTHER COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME

ACCUMULATED OTHER COMPREHENSIVE INCOME

Accumulated other comprehensive income represents the net unrealized holding gains on securities available-for-sale, derivatives and the funded status of the Company’s benefit plans, as of the consolidated balance sheet dates, net of the related tax effect.

The following is a summary of the changes in accumulated other comprehensive income by component, net of tax adjusted for deferred tax valuation allowances, for the periods indicated:

	Gains and  Losses on  Cash Flow Hedges		Unrealized Gains and Losses on  Available-for-sale Securities		Defined Benefit Pension Items		Total
	(In thousands)
Balance at December 31, 2020	$	(3,986)	$	4,208	$	(1,253)	$	(1,031)
Other comprehensive income (loss) before reclassification	2,733		(3,118)		(115)		(500)
Amounts reclassified from accumulated other comprehensive income	1,007		1		151		1,159
Net current period other comprehensive (loss) gain	3,740		(3,117)		36		659
Balance at December 31, 2021	$	(246)	$	1,091	$	(1,217)	$	(372)

	Gains and  Losses on  Cash Flow Hedges		Unrealized Gains and Losses on  Available-for-sale Securities		Defined Benefit Pension Items		Total
	(In thousands)
Balance at December 31, 2019	$	(360)	$	916	$	(1,073)	$	(517)
Other comprehensive income (loss) before reclassification	(4,167)		3,343		(315)		(1,139)
Amounts reclassified from accumulated other comprehensive income	541		(51)		135		625
Net current period other comprehensive (loss) gain	(3,626)		3,292		(180)		(514)
Balance at December 31, 2020	$	(3,986)	$	4,208	$	(1,253)	$	(1,031)

The following is significant amounts reclassified out of each component of accumulated other comprehensive income (loss):

Details about Accumulated Other Comprehensive Income Components	Year Ended December 31,				Affected Line Item in the Statement Where Net Income is Presented
	2021		2020
	(In thousands)
Unrealized (loss) gain on securities available for sale: Realized (losses) gains on securities available for sale	$	(1)	$	69	(Loss) gain on sales and calls of securities
Gains and (losses) on cash flow hedges:
Interest rate contracts	(1,427)		(752)		Interest (expense) income
Amortization of benefit plan items:
Net actuarial loss	(210)		(189)		Compensation and employee benefits
Total tax effect	479		247		Income tax expense
Total reclassification for the period, net of tax	$	(1,159)	$	(625)