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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
3 Months Ended
Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Abstract]  
Activity in net accumulated other comprehensive income (loss) and the components of the activity

 

 

 

Unrealized Gains on

 

 

 

 

 

 

 

 

 

Investments

 

Defined Benefit

 

 

 

(In thousands)

 

Available-for-Sale

 

Pension Plan

 

Total

Balance at January 1, 2020

 

$

4,000

 

$

(8,332)

 

$

(4,332)

Other comprehensive income before reclassification, net of tax

 

 

10,639

 

 

-

 

 

10,639

Reclassifications from accumulated other comprehensive income, net of tax

 

 

(127)

 

 

164

 

 

37

Current period change in other comprehensive income, net of tax

 

 

10,512

 

 

164

 

 

10,676

Balance at March 31, 2020

 

$

14,512

 

$

(8,168)

 

$

6,344

 

 

 

Unrealized Gains

 

 

 

 

 

 

 

 

 

(Losses) on

 

 

 

 

 

 

 

 

 

Investments

 

Defined Benefit

 

 

 

(In thousands)

 

Available-for-Sale

 

Pension Plan

 

Total

Balance at January 1, 2019

 

$

(6,630)

 

$

(9,124)

 

$

(15,754)

Other comprehensive income before reclassification, net of tax

 

 

6,508

 

 

-

 

 

6,508

Reclassifications from accumulated other comprehensive income, net of tax

 

 

-

 

 

196

 

 

196

Current period change in other comprehensive income, net of tax

 

 

6,508

 

 

196

 

 

6,704

Balance at March 31, 2019

 

$

(122)

 

$

(8,928)

 

$

(9,050)

Schedule of reclassification adjustments out of accumulated other comprehensive income (loss)

 

 

 

 

Three Months Ended March 31,

(In thousands)

 

2020

 

2019

Unrealized gains on investments available-for-sale

 

 

 

 

 

 

 

Affected line item in the Statements of Income:

 

 

 

 

 

 

 

Investment securities gains

 

$

169

 

$

-

 

Income before taxes

 

 

169

 

 

-

 

Tax expense

 

 

(42)

 

 

-

 

Net income

 

$

127

 

$

-

 

 

 

 

 

 

 

 

 

 

Amortization of defined benefit pension plan items

 

 

 

 

 

 

 

Affected line item in the Statements of Income:

 

 

 

 

 

 

 

 

Recognized actuarial loss(1)

 

$

(219)

 

$

(265)

 

 

 

Income before taxes

 

 

(219)

 

 

(265)

 

 

 

Tax benefit

 

 

55

 

 

69

 

 

 

Net loss

 

$

(164)

 

$

(196)

(1) This amount is included in the computation of net periodic benefit cost. See Note 11.