Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2019

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

(7) Accumulated Other Comprehensive Income (Loss)

The following is a summary of the accumulated other comprehensive (loss) income balances, net of tax:

	Three months ended 9/30/2019
(dollars in thousands)	Balance at 7/1/2019			Other Comprehensive Income (loss)- Before Reclassifications		Amount reclassified from Accumulated Other Comprehensive Income			Other Comprehensive Income (loss)- Three months ended 9/30/2019			Balance at 9/30/2019
Net unrealized holding loss on securities available for sale, net of tax	$	(1,707	)		1,790		-			1,790			83
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax		423			-		-			-			423
Net change in net actuarial loss and prior service credit on pension and postretirement benefit plans, net of tax		(490	)		-		(87	)		(87	)		(577	)
Accumulated other comprehensive loss, net of tax	$	(1,774	)		1,790		(87	)		1,703			(71	)

	Three months ended 9/30/2018
(dollars in thousands)	Balance at 7/1/2018			Other Comprehensive Income (loss)- Before Reclassifications			Amount reclassified from Accumulated Other Comprehensive Income			Other Comprehensive Income (loss)- Three months ended 9/30/2018			Balance at 9/30/2018
Net unrealized holding (gain) loss on securities available for sale, net of tax	$	(11,576	)		(3,010	)		-			(3,010	)		(14,586	)
Net change in net actuarial (gain) loss and prior service cost on pension and postretirement benefit plans, net of tax		3,126			-			(194	)		(194	)		2,932
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect		(1,346	)		-			-			-			(1,346	)
Accumulated other comprehensive income (loss), net of tax	$	(9,796	)		(3,010	)		(194	)		(3,204	)		(13,000	)

	Nine months ended 9/30/2019
(dollars in thousands)	Balance at 1/1/2019			Other Comprehensive Income (loss)- Before Reclassifications		Amount reclassified from Accumulated Other Comprehensive Income			Other Comprehensive Income (loss)- Three months ended 9/30/2019			Balance at 9/30/2019
Net unrealized holding loss on securities available for sale, net of tax	$	(10,416	)		10,499		-			10,499			83
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax		423			-		-			-			423
Net change in net actuarial loss and prior service credit on pension and postretirement benefit plans, net of tax		(316	)		–		(261	)		(261	)		(577	)
Accumulated other comprehensive loss, net of tax	$	(10,309	)		10,499		(261	)		10,238			(71	)

	Nine months ended 9/30/2018
(dollars in thousands)	Balance at 1/1/2018			Other Comprehensive Income (loss)- Before Reclassifications			Amount reclassified from Accumulated Other Comprehensive Income			Other Comprehensive Income (loss)- Three months ended 9/30/2018			Balance at 9/30/2018
Net unrealized holding (gain) loss on securities available for sale, net of tax	$	(5,030	)		(9,556	)		-			(9,556	)		(14,586	)
Net change in net actuarial (gain) loss and prior service cost on pension and postretirement benefit plans, net of tax		3,224			-			(292	)		(292	)		2,932
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect		-			-			(1,346	)		-			(1,346	)
Accumulated other comprehensive income (loss), net of tax	$	(1,806	)		(9,556	)		(1,638	)		(9,848	)		(13,000	)

The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2019 and 2018:

(dollars in thousands)	Three months ended						Nine months ended
	September 30,						September 30,
	2019			2018			2019			2018			Affected Line Item in Financial Statements
Amortization of pension and postretirement benefit items:
Amortization of net actuarial gain (loss)	$	35			189		$	103			367		Salaries and employee benefits
Amortization of prior service cost		83			73			250			28		Salaries and employee benefits
Income tax benefit		(31	)		(68	)		(92	)		(103	)	Income taxes
Net of tax		87			194			261			292
Total reclassifications, net of tax	$	87			194		$	261			292