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ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)
 12 Months Ended
Dec. 31, 2023
Accumulated Other Comprehensive Loss [Abstract]  
Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax

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

 
2023
    
2022
  
Net unrealized loss on securities available for sale
  
$
(35,743
)
  
$
(47,487
)
Tax effect
    
7,505
      
9,973
  
Net -of-tax amount
    
(28,238
)
    
(37,514
)
                 
Unrealized gain on interest rate swaps
    
5,441
      
6,873
  
Tax effect
    
(1,142
)
    
(1,444
)
Net -of-tax amount
    
4,299
      
5,429
  
                 
Unrecognized pension costs
    
(1,231
)
    
(1,336
)
Tax effect
    
259
      
280
  
Net -of-tax amount
    
(972
)
    
(1,056
)
                 
Total accumulated other comprehensive loss
  
$
(24,911
)
  
$
(33,141
)


The following tables present the changes in accumulated other comprehensive income (loss) by component net of tax for the years ended December 31, 2023, 2022 and 2021 (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, 2020
  
$
6,058
    
$
(9
)
  
$
(3,462
)
  
$
2,587
  
Other comprehensive income (loss) before reclassifications (net of tax)
    
(5,586
)
    
1,403
      
1,229
      
(2,954
)
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
   
(168
)
    
115
      
265
      
212
  
Net current period other comprehensive income (loss)
    
(5,754
)
    
1,518
      
1,494
      
(2,742
)
Balance as of December 31, 2021
  
$
304
    
$
1,509
    
$
(1,968
)
  
$
(155
)
                                 
Balance as of December 31, 2021
  
$
304
    
$
1,509
    
$
(1,968
)
  
$
(155
)
Other comprehensive income (loss) before reclassifications (net of tax)
    
(37,829
)
    
4,034
      
836
      
(32,959
)
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
11
      
(114
)
    
76
      
(27
)
Net current period other comprehensive income (loss)
    
(37,818
)
    
3,920
      
912
      
(32,986
)
Balance as of December 31, 2022
  
$
(37,514
)
  
$
5,429
    
$
(1,056
)
  
$
(33,141
)
                                 
Balance as of December 31, 2022
  
$
(37,514
)
  
$
5,429
    
$
(1,056
)
  
$
(33,141
)
Other comprehensive income (loss) before reclassifications (net of tax)
    
9,237
      
610
      
52
      
9,899
  
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
39
      
(1,740
)
    
32
      
(1,669
)
Net current period other comprehensive income (loss)
    
9,276
      
(1,130
)
    
84
      
8,230
  
Balance as of December 31, 2023
  
$
(28,238
)
  
$
4,299
    
$
(972
)
  
$
(24,911
)
                                 
(a) Amounts in parentheses indicate debits
                                
Significant Amounts Reclassified out of each Component of Accumulated Other Comprehensive Loss

The following table presents the significant amounts reclassified out of each component of accumulated other comprehensive loss for the years ended December 31, 2023, 2022 and 2021 (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,
    
   
2023
    
2022
    
2021
    
Unrealized gains and losses on available for sale securities
                                
   
$
(51
)
  
$
(14
)
  
$
212
  
Available for sale securities (losses) gains, net
     
12
      
3
      
(44
)
Provision for income taxes
   
$
(39
)
  
$
(11
)
  
$
168
   Net of tax

                                           
Unrealized gain (loss) on interest rate swap   $ 2,203     $ 145     $ (147 ) Interest expense
      (463 )     (31 )     32   Provision for income taxes
    $ 1,740     $ 114     $ (115 ) Net of tax
                                         
Defined benefit pension items
                                               
   
$
(41
)
  
$
(96
)
  
$
(336
)
Other expenses
     
9
      
20
      
71
  
Provision for income taxes
   
$
(32
)
  
$
(76
)
  
$
(265
)
 Net of tax
Total reclassifications
  
$
1,669
    
$
27
    
$
(212
)
  
(a) Amounts in parentheses indicate debits