Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the following table. Reclassification adjustments related to securities available for sale are included in net gain (loss) on securities transactions in the accompanying consolidated statements of income. Reclassification adjustments related to defined-benefit post-retirement benefit plans are included in the computation of net periodic pension expense (see Note 12 – Defined Benefit Plans).


	Three Months Ended June 30, 2022						Three Months Ended June 30, 2021
	Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount		Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(636,523)	$	(133,670)	$	(502,853)	$	30,668	$	6,441	$	24,227
Change in net unrealized gain on securities transferred to held to maturity	(189)		(40)		(149)		(245)		(52)		(193)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(636,712)		(133,710)		(503,002)		30,423		6,389		24,034
Defined-benefit post-retirement benefit plans:

Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	741		155		586		1,529		321		1,208
Total defined-benefit post-retirement benefit plans	741		155		586		1,529		321		1,208
Total other comprehensive income (loss)	$	(635,971)	$	(133,555)	$	(502,416)	$	31,952	$	6,710	$	25,242

	Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
	Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount		Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(1,547,318)	$	(324,937)	$	(1,222,381)	$	(129,111)	$	(27,113)	$	(101,998)
Change in net unrealized gain on securities transferred to held to maturity	(398)		(84)		(314)		(504)		(106)		(398)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(1,547,716)		(325,021)		(1,222,695)		(129,615)		(27,219)		(102,396)
Defined-benefit post-retirement benefit plans:

Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic expense (benefit)	1,482		311		1,171		3,058		642		2,416
Total defined-benefit post-retirement benefit plans	1,482		311		1,171		3,058		642		2,416
Total other comprehensive income (loss)	$	(1,546,234)	$	(324,710)	$	(1,221,524)	$	(126,557)	$	(26,577)	$	(99,980)

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	Securities Available For Sale		Defined Benefit Plans		Accumulated Other Comprehensive Income
Balance January 1, 2022	$	380,209	$	(32,891)	$	347,318
Other comprehensive income (loss) before reclassifications	(1,222,695)		—		(1,222,695)
Reclassification of amounts included in net income	—		1,171		1,171
Net other comprehensive income (loss) during period	(1,222,695)		1,171		(1,221,524)
Balance at June 30, 2022	$	(842,486)	$	(31,720)	$	(874,206)

Balance January 1, 2021	$	563,801	$	(50,831)	$	512,970
Other comprehensive income (loss) before reclassifications	(102,396)		—		(102,396)
Reclassification of amounts included in net income	—		2,416		2,416
Net other comprehensive income (loss) during period	(102,396)		2,416		(99,980)

Balance at June 30, 2021	$	461,405	$	(48,415)	$	412,990