Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2021

The tax effects allocated to each component of other comprehensive income (loss) were as follows:


	Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount
2021
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(231,355)	$	(48,585)	$	(182,770)
Change in net unrealized gain on securities transferred to held to maturity	(971)		(204)		(767)
Reclassification adjustment for net (gains) losses included in net income	(69)		(14)		(55)
Total securities available for sale and transferred securities	(232,395)		(48,803)		(183,592)
Defined-benefit post-retirement benefit plans:
Change in the net actuarial gain/loss	16,593		3,485		13,108
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	6,116		1,284		4,832
Total defined-benefit post-retirement benefit plans	22,709		4,769		17,940
Total other comprehensive income (loss)	$	(209,686)	$	(44,034)	$	(165,652)

2020
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	427,331	$	89,741	$	337,590
Change in net unrealized gain on securities transferred to held to maturity	(1,256)		(264)		(992)
Reclassification adjustment for net (gains) losses included in net income	(108,989)		(22,888)		(86,101)
Total securities available for sale and transferred securities	317,086		66,589		250,497
Defined-benefit post-retirement benefit plans:
Change in the net actuarial gain/loss	(11,518)		(2,419)		(9,099)
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	5,319		1,117		4,202
Total defined-benefit post-retirement benefit plans	(6,199)		(1,302)		(4,897)
Total other comprehensive income (loss)	$	310,887	$	65,287	$	245,600

2019
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	418,556	$	87,897	$	330,659
Change in net unrealized gain on securities transferred to held to maturity	(1,292)		(271)		(1,021)
Reclassification adjustment for net (gains) losses included in net income	(293)		(62)		(231)
Total securities available for sale and transferred securities	416,971		87,564		329,407
Defined-benefit post-retirement benefit plans:
Change in the net actuarial gain/loss	(3,644)		(765)		(2,879)
Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	5,623		1,181		4,442
Total defined-benefit post-retirement benefit plans	1,979		416		1,563
Total other comprehensive income (loss)	$	418,950	$	87,980	$	330,970

Activity in accumulated other comprehensive income, net of tax, was as follows:


	Securities Available For Sale		Defined Benefit Plans		Accumulated Other Comprehensive Income
Balance January 1, 2021	$	563,801	$	(50,831)	$	512,970
Other comprehensive income (loss) before reclassification	(183,537)		13,108		(170,429)
Reclassification of amounts included in net income	(55)		4,832		4,777
Net other comprehensive income (loss) during period	(183,592)		17,940		(165,652)
Balance December 31, 2021	$	380,209	$	(32,891)	$	347,318

Balance January 1, 2020	$	313,304	$	(45,934)	$	267,370
Other comprehensive income (loss) before reclassification	336,598		(9,099)		327,499
Reclassification of amounts included in net income	(86,101)		4,202		(81,899)
Net other comprehensive income (loss) during period	250,497		(4,897)		245,600
Balance December 31, 2020	$	563,801	$	(50,831)	$	512,970

Balance January 1, 2019	$	(16,103)	$	(47,497)	$	(63,600)
Other comprehensive income (loss) before reclassification	329,638		(2,879)		326,759
Reclassification of amounts included in net income	(231)		4,442		4,211
Net other comprehensive income (loss) during period	329,407		1,563		330,970
Balance December 31, 2019	$	313,304	$	(45,934)	$	267,370