Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

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 June 30, 2022
(dollars in thousands)	Balance at 4/1/2022			Other Comprehensive Income (loss)- Before Reclassifications			Amount reclassified from Accumulated Other Comprehensive Income			Other Comprehensive Income (loss)- Three months ended 6/30/2022			Balance at 6/30/2022
Net unrealized holding loss on securities available for sale, net of tax	$	(14,277	)		(6,829	)		-			(6,829	)		(21,106	)
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax		13,706			-			-			-			13,706
Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax		(1,798	)		-			(224	)		(224	)		(2,022	)
Accumulated other comprehensive loss, net of tax	$	(2,369	)		(6,829	)		(224	)		(7,053	)		(9,422	)

	Three months ended June 30, 2021
(dollars in thousands)	Balance at 4/1/2021			Other Comprehensive Income (loss)- Before Reclassifications		Amount reclassified from Accumulated Other Comprehensive Income			Other Comprehensive Income (loss)- Three months ended 6/30/2021			Balance at 6/30/2021
Net unrealized holding gain on securities available for sale, net of tax	$	2,725			622		-			622			3,347
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax		6,084			-		-			-			6,084
Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax		(1,541	)		-		(50	)		(50	)		(1,591	)
Accumulated other comprehensive income, net of tax	$	7,268			622		(50	)		572			7,840

	Six months ended June 30, 2022
(dollars in thousands)	Balance at 1/1/2022			Other Comprehensive Income (loss)- Before Reclassifications			Amount reclassified from Accumulated Other Comprehensive Income			Other Comprehensive Income (loss)- Three months ended 6/30/2022			Balance at 6/30/2022
Net unrealized holding loss on securities available for sale, net of tax	$	(26	)		(21,080	)		-			(21,080	)		(21,106	)
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax		13,706			-			-			-			13,706
Net change in net actuarial gain and prior service credit on pension and postretirement benefit plans, net of tax		(1,533	)		-			(489	)		(489	)		(2,022	)
Accumulated other comprehensive income (loss), net of tax	$	12,147			(21,080	)		(489	)		(21,569	)		(9,422	)

	Six months ended June 30, 2021
(dollars in thousands)	Balance at 1/1/2021			Other Comprehensive Income (loss)- Before Reclassifications			Amount reclassified from Accumulated Other Comprehensive Income			Other Comprehensive Income (loss)- Three months ended 6/30/2021			Balance at 6/30/2021
Net unrealized holding loss on securities available for sale, net of tax	$	7,186			(3,839	)		-			(3,839	)		3,347
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax		6,084			-			-			-			6,084
Net change in net actuarial gain and prior service cost on pension and postretirement benefit plans, net of tax		(1,334	)		-			(257	)		(257	)		(1,591	)
Accumulated other comprehensive income (loss), net of tax	$	11,936			(3,839	)		(257	)		(4,096	)		7,840

The following represents the reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2022 and 2021:

(dollars in thousands)	Three months ended						Six months ended
	June 30,						June 30,
	2022			2021			2022			2021			Affected Line Item in Financial Statements
Amortization of pension and postretirement benefit items:
Amortization of net actuarial gain	$	426			169		$	504			397		Salaries and employee benefits
Amortization of prior service (cost) credit		(123	)		(102	)		157			(50	)	Salaries and employee benefits
Income tax benefit		(79	)		(17	)		(172	)		(90	)	Income taxes
Net of tax		224			50			489			257
Total reclassifications, net of tax	$	224			50		$	489			257