Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income (Loss)

The components of AOCI for the Company are as follows:


($ in thousands)	December 31, 2023		December 31, 2022	December 31, 2021
Unrealized loss on securities available for sale	$	(400,720)	(444,063)	(32,067)
Deferred tax asset	92,767		102,046	7,369
Net unrealized loss on securities available for sale	(307,953)		(342,017)	(24,698)

Postretirement plans (liability) asset	(100)		54	(353)
Deferred tax asset (liability)	23		(12)	81
Net postretirement plans (liability) asset	(77)		42	(272)

Total accumulated other comprehensive loss	$	(308,030)	(341,975)	(24,970)

The following table discloses the changes in AOCI for the years ended December 31, 2023, 2022, and 2021 (all amounts are net of tax).


($ in thousands)	Unrealized Gain (Loss) on Securities Available for Sale		Postretirement Plans (Liability) Asset	Total
Beginning balance at January 1, 2021	$	15,749	(1,399)	14,350

Other comprehensive (loss) income before reclassifications	(41,400)		671	(40,729)
Amounts reclassified from accumulated other comprehensive income	953		456	1,409
Net current-period other comprehensive (loss) income	(40,447)		1,127	(39,320)

Ending balance at December 31, 2021	(24,698)		(272)	(24,970)

Other comprehensive (loss) income before reclassifications	(317,319)		536	(316,783)
Amounts reclassified from accumulated other comprehensive income	—		(222)	(222)
Net current-period other comprehensive (loss) income	(317,319)		314	(317,005)

Ending balance at December 31, 2022	(342,017)		42	(341,975)

Other comprehensive income (loss) before reclassifications	34,064		(466)	33,598
Amounts reclassified from accumulated other comprehensive income	—		347	347
Net current-period other comprehensive income (loss)	34,064		(119)	33,945

Ending balance at December 31, 2023	$	(307,953)	(77)	(308,030)

Amounts reclassified from AOCI for Unrealized Gain (Loss) on Securities AFS represent realized securities gains or losses, net of tax effects. Amounts reclassified from AOCI for Postretirement Plans Asset (Liability) represent amortization of amounts included in AOCI, net of taxes, and are recorded in the "Other operating expenses" line item of the consolidated statements of income.