Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023						Three Months Ended March 31, 2022
	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	$	260,269	$	54,656	$	205,613	$	(910,795)	$	(191,267)	$	(719,528)
Change in net unrealized gain on securities transferred to held to maturity	(160)		(33)		(127)		(209)		(44)		(165)
Reclassification adjustment for net (gains) losses included in net income	(21)		(4)		(17)		—		—		—
Total securities available for sale and transferred securities	260,088		54,619		205,469		(911,004)		(191,311)		(719,693)
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)	870		183		687		741		156		585
Total defined-benefit post-retirement benefit plans	870		183		687		741		156		585
Total other comprehensive income (loss)	$	260,958	$	54,802	$	206,156	$	(910,263)	$	(191,155)	$	(719,108)

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 at January 1, 2023	$	(1,313,791)	$	(34,503)	$	(1,348,294)
Other comprehensive income (loss) before reclassifications	205,486		—		205,486
Reclassification of amounts included in net income	(17)		687		670
Net other comprehensive income (loss) during period	205,469		687		206,156
Balance at March 31, 2023	$	(1,108,322)	$	(33,816)	$	(1,142,138)

Balance at January 1, 2022	$	380,209	$	(32,891)	$	347,318
Other comprehensive income (loss) before reclassifications	(719,693)		—		(719,693)
Reclassification of amounts included in net income	—		585		585
Net other comprehensive income (loss) during period	(719,693)		585		(719,108)

Balance at March 31, 2022	$	(339,484)	$	(32,306)	$	(371,790)