Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

Comprehensive income (loss) is defined as the change in equity during a period for non-owner transactions and is divided into net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes revenues, expenses, gains, and losses that are excluded from earnings under current accounting standards. The components of accumulated other comprehensive income (loss) for the Company are as follows:

($ in thousands)	September 30, 2020		December 31, 2019
Unrealized gain (loss) on securities available for sale	$	25,275	9,743
Deferred tax asset (liability)	(5,808)		(2,239)
Net unrealized gain (loss) on securities available for sale	19,467		7,504
Postretirement plans asset (liability)	(2,581)		(3,092)
Deferred tax asset (liability)	593		711
Net postretirement plans asset (liability)	(1,988)		(2,381)
Total accumulated other comprehensive income (loss)	$	17,479	5,123

The following table discloses the changes in accumulated other comprehensive income (loss) for the nine months ended September 30, 2020 (all amounts are net of tax).

($ in thousands)	Unrealized Gain (Loss) on Securities Available for Sale		Postretirement Plans Asset (Liability)	Total
Beginning balance at January 1, 2020	$	7,504	(2,381)	5,123
Other comprehensive income (loss) before reclassifications	18,143		—	18,143
Amounts reclassified from accumulated other comprehensive income	(6,180)		393	(5,787)
Net current-period other comprehensive income (loss)	11,963		393	12,356
Ending balance at September 30, 2020	$	19,467	(1,988)	17,479

The following table discloses the changes in accumulated other comprehensive income (loss) for the nine months ended September 30, 2019 (all amounts are net of tax).

($ in thousands)	Unrealized Gain (Loss) on Securities Available for Sale		Postretirement Plans Asset (Liability)	Total
Beginning balance at January 1, 2019	$	(9,494)	(2,467)	(11,961)
Other comprehensive income (loss) before reclassifications	15,212		—	15,212
Amounts reclassified from accumulated other comprehensive income	(75)		458	383
Net current-period other comprehensive income (loss)	15,137		458	15,595
Ending balance at September 30, 2019	$	5,643	(2,009)	3,634

Amounts reclassified from accumulated other comprehensive income for Unrealized Gain (Loss) on Securities Available for Sale represent realized securities gains or losses, net of tax effects. Amounts reclassified from

accumulated other comprehensive income for Postretirement Plans Asset (Liability) represent amortization of amounts included in Accumulated Other Comprehensive Income, net of taxes, and are recorded in the "Other operating expenses" line item of the Consolidated Statements of Income.