Accumulated Comprehensive Loss

3 Months Ended

Mar. 31, 2023

Accumulated Comprehensive Loss [Abstract]

Accumulated Comprehensive Loss

Note 8 – Accumulated Comprehensive Loss

The following tables present the changes in accumulated other comprehensive income by component, net of tax, for the three months ended March 31, 2023 and 2022 (in thousands):

	Three months ended March 31, 2023
	Unrealized gain (loss) on available for sale securities (a)			Defined Benefit Pension Items (a)			Unrealized loss on interest rate swap (a)			Total
Balance as of December 31, 2022	$	(37,514	)	$	(1,056	)	$	5,429		$	(33,141	)
Other comprehensive income (loss) before reclassifications (net of tax)		7,092			-			(359	)		6,733
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)		-			6			(360	)		(354	)
Net current period other comprehensive income (loss)		7,092			6			(719	)		6,379
Balance as of March 31, 2023	$	(30,422	)	$	(1,050	)	$	4,710		$	(26,762	)

	Three months ended March 31, 2022
	Unrealized gain (loss) on available for sale securities (a)			Defined Benefit Pension Items (a)			Unrealized loss on interest rate swap (a)		Total
Balance as of December 31, 2021	$	304		$	(1,968	)	$	1,509	$	(155	)
Other comprehensive income (loss) before reclassifications (net of tax)		(16,580	)		-			1,910		(14,670	)
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)		-			28			32		60
Net current period other comprehensive income (loss)		(16,580	)		28			1,942		(14,610	)
Balance as of March 31, 2022	$	(16,276	)	$	(1,940	)	$	3,451	$	(14,765	)

(a) Amounts in parentheses indicate debits on the Consolidated Balance Sheet. 

The following table presents the significant amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2023 and 2022 (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
	Three Months Ended March 31,
	2023			2022
Unrealized gains and losses on available for sale securities
	$	-		$	-		Available for sale securities gains, net
		-			-		Provision for income taxes
	$	-		$	-		Net of tax
Defined benefit pension items
	$	(7	)	$	(36	)	Other expenses
		1			8		Provision for income taxes
	$	(6	)	$	(28	)	Net of tax
Unrealized gain (loss) on interest rate swap	$	456		$	(40	)	Interest expense
		(96	)		8		Provision for income taxes
	$	360		$	(32	)	Net of tax
Total reclassifications	$	354		$	(60	)

(a) Amounts in parentheses indicate expenses and other amounts indicate income on the Consolidated Statement of Income