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OTHER COMPREHENSIVE INCOME (LOSS)
 12 Months Ended
Dec. 31, 2020
OTHER COMPREHENSIVE INCOME (LOSS) [Abstract]  
OTHER COMPREHENSIVE INCOME (LOSS)
13. OTHER COMPREHENSIVE INCOME (LOSS)


The components of accumulated other comprehensive income (loss), net of tax, as of December 31, were as follows (in thousands):

  
2020
    
2019
  
Net unrealized gain on securities available for sale
  
$
7,668
    
$
2,899
  
Tax effect
    
(1,610
)
    
(609
)
Net -of-tax amount
    
6,058
      
2,290
  
                 
Unrealized loss on interest rate swap
    
(11
)
    
-
  
Tax effect
    
2
      
-
  
Net -of-tax amount
    
(9
)
    
-
  
                 
Unrecognized pension costs
    
(4,383
)
    
(3,695
)
Tax effect
    
921
      
776
  
Net -of-tax amount
    
(3,462
)
    
(2,919
)
                 
Total accumulated other comprehensive income (loss)
  
$
2,587
    
$
(629
)


The following tables present the changes in accumulated other comprehensive income (loss) by component net of tax for the years ended December 31, 2020, 2019 and 2018 (in thousands):

  
Unrealized gain
(loss) on
available for sale
securities (a)
    
Unrealized
gain (loss) on
interest rate
swap (a)
    
Defined Benefit
Pension Items (a)
    
Total
  
Balance as of December 31, 2017
  
$
(269
)
  
$
-
    
$
(3,129
)
  
$
(3,398
)
Change in Accounting policy for equity securities
    
1
                      
1
  
Other comprehensive income (loss) before reclassifications (net of tax)
    
(720
)
    
-
      
34
      
(686
)
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
15
      
-
      
147
      
162
  
Net current period other comprehensive income (loss)
    
(705
)
    
-
      
181
      
(524
)
Balance as of December 31, 2018
  
$
(973
)
  
$
-
    
$
(2,948
)
  
$
(3,921
)
                                 
Balance as of December 31, 2018
  
$
(973
)
  
$
-
    
$
(2,948
)
  
$
(3,921
)
Other comprehensive income (loss) before reclassifications (net of tax)
    
3,283
      
-
      
(186
)
    
3,097
  
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
(20
)
    
-
      
215
      
195
  
Net current period other comprehensive income (loss)
    
3,263
      
-
      
29
      
3,292
  
Balance as of December 31, 2019
  
$
2,290
    
$
-
    
$
(2,919
)
  
$
(629
)
                                 
Balance as of December 31, 2019
  
$
2,290
    
$
-
    
$
(2,919
)
  
$
(629
)
Other comprehensive income (loss) before reclassifications (net of tax)
    
4,008
      
(9
)
    
(727
)
    
3,272
  
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
(240
)
    
-
      
184
      
(56
)
Net current period other comprehensive income (loss)
    
3,768
      
(9
)
    
(543
)
    
3,216
  
Balance as of December 31, 2020
  
$
6,058
    
$
(9
)
  
$
(3,462
)
  
$
2,587
  

(a) Amounts in parentheses indicate debits


The following table presents the significant amounts reclassified out of each component of accumulated other comprehensive loss for the years ended December 31, 2020, 2019 and 2018 (in thousands):

Details about accumulated other comprehensive income (loss)
  
Amount reclassified from accumulated comprehensive income (loss) (a)
  
Affected line item in the Consolidated Statement of Income
   
December 31,
    
   
2020
    
2019
    
2018
    
Unrealized gains and losses on available for sale securities
                       
   
$
305
    
$
24
    
$
(19
)
Available for sale securities gains, net
     
(65
)
    
(4
)
    
4
  
Provision for income taxes
   
$
240
    
$
20
    
$
(15
)
  
                               
Defined benefit pension items
                             
   
$
(233
)
  
$
(272
)
  
$
(186
)
Other expenses
     
49
      
57
      
39
  
Provision for income taxes
   
$
(184
)
  
$
(215
)
  
$
(147
)
  
Total reclassifications
  
$
56
    
$
(195
)
  
$
(162
)
  

(a) Amounts in parentheses indicate debits to net income