Other Comprehensive Income

9 Months Ended

Sep. 30, 2020

Other Comprehensive Income [Abstract]

Other Comprehensive Income

8. OTHER COMPREHENSIVE INCOME

The following tables summarize the changes in the components of accumulated other comprehensive income during the three and nine month periods ended September 30, 2020 and 2019:

	Balance at June 30, 2020		Net Change		Balance at September 30, 2020
	(in thousands)
Net unrealized gain (loss) on investment securities	$	3,545	$	(833)	$	2,712
Net defined benefit pension plan adjustments		(2,928)		90		(2,838)
Total	$	617	$	(743)	$	(126)
	Balance at June 30, 2019		Net Change		Balance at September 30, 2019
	(in thousands)
Net unrealized gain on investment securities	$	426	$	523	$	949
Net defined benefit pension plan adjustments		(2,871)		68		(2,803)
Total	$	(2,445)	$	591	$	(1,854)

	Balance at December 31, 2019		Net Change		Balance at September 30, 2020
	(in thousands)
Net unrealized gain on investment securities	$	522	$	2,190	$	2,712
Net defined benefit pension plan adjustments		(3,105)		267		(2,838)
Total	$	(2,583)	$	2,457	$	(126)

	Balance at December 31, 2018		Net Change		Balance at September 30, 2019
	(in thousands)
Net unrealized (loss) gain on investment securities	$	(2,348)	$	3,297	$	949
Net defined benefit pension plan adjustments		(3,005)		202		(2,803)
Total	$	(5,353)	$	3,499	$	(1,854)

‎

	Three months ended September 30, 2020						Three months ended September 30, 2019
	(in thousands)						(in thousands)
	Before-Tax Amount		Income Tax (Provision) Benefit		Net-of-Tax Amount		Before-Tax Amount		Income Tax (Provision) Benefit		Net-of-Tax Amount
Unrealized (loss) gain on investment
securities:
Unrealized (loss) gain on investment
securities	$	(455)	$	116	$	(339)	$	705	$	(182)	$	523
Reclassification from accumulated other
comprehensive income for gain on sale of securities		(667)		173		(494)		-		-		-
Net change		(1,122)		289		(833)		705		(182)		523
Defined benefit pension plan
adjustments:
Amortization of prior service cost		7		(1)		6		7		(1)		6
Amortization of actuarial loss		113		(29)		84		82		(20)		62
Net change		120		(30)		90		89		(21)		68
Other comprehensive (loss) income	$	(1,002)	$	259	$	(743)	$	794	$	(203)	$	591

	Nine months ended September 30, 2020						Nine months ended September 30, 2019
	(in thousands)						(in thousands)
	Before-Tax Amount		Income Tax (Provision) Benefit		Net-of-Tax Amount		Before-Tax Amount		Income Tax (Provision) Benefit		Net-of-Tax Amount
Unrealized gain (loss) on investment
securities:
Unrealized gain (loss) on investment
securities	$	3,623	$	(939)	$	2,684	$	4,493	$	(1,165)	$	3,328
Reclassification from accumulated other
comprehensive income for gain on sale of securities		(667)		173		(494)		(42)		11		(31)
Net change		2,956		(766)		2,190		4,451		(1,154)		3,297
Defined benefit pension plan
adjustments:
Amortization of prior service cost		23		(6)		17		23		(6)		17
Amortization of actuarial loss		339		(89)		250		248		(63)		185
Net change		362		(95)		267		271		(69)		202
Other comprehensive income	$	3,318	$	(861)	$	2,457	$	4,722	$	(1,223)	$	3,499