Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2022

Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss)

5. OTHER COMPREHENSIVE INCOME (LOSS)

The following tables summarize the changes in the components of accumulated other comprehensive income (loss) during the three and nine month periods ended September 30, 2022 and 2021:

	Balance at June 30, 2022		Net Change		Balance at September 30, 2022
	(in thousands)
Net unrealized loss on investment securities	$	(31,898)	$	(15,581)	$	(47,479)
Net defined benefit pension plan adjustments		(2,401)		56		(2,345)
Total	$	(34,299)	$	(15,525)	$	(49,824)

	Balance at June 30, 2021		Net Change		Balance at September 30, 2021
	(in thousands)
Net unrealized gain (loss) on investment securities	$	230	$	(1,530)	$	(1,300)
Net defined benefit pension plan adjustments		(2,965)		75		(2,890)
Total	$	(2,735)	$	(1,455)	$	(4,190)

	Balance at December 31, 2021		Net Change		Balance at September 30, 2022
	(in thousands)
Net unrealized loss on investment securities	$	(3,160)	$	(44,319)	$	(47,479)
Net defined benefit pension plan adjustments		(2,511)		166		(2,345)
Total	$	(5,671)	$	(44,153)	$	(49,824)

	Balance at December 31, 2020		Net Change		Balance at September 30, 2021
	(in thousands)
Net unrealized gain (loss) on investment securities	$	2,397	$	(3,697)	$	(1,300)
Net defined benefit pension plan adjustments		(3,116)		226		(2,890)
Total	$	(719)	$	(3,471)	$	(4,190)

‎

	Three months ended September 30, 2022						Three months ended September 30, 2021
	(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 on investment
securities:
Unrealized loss on investment
securities	$	(21,016)	$	5,435	$	(15,581)	$	(2,066)	$	536	$	(1,530)
Defined benefit pension plan
adjustments:
Amortization of prior service cost		8		(2)		6		7		(2)		5
Amortization of actuarial loss		68		(18)		50		95		(25)		70
Net change		76		(20)		56		102		(27)		75
Other comprehensive loss	$	(20,940)	$	5,415	$	(15,525)	$	(1,964)	$	509	$	(1,455)

	Nine months ended September 30, 2022						Nine months ended September 30, 2021
	(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 on investment
securities:
Unrealized loss on investment
securities	$	(59,796)	$	15,477	$	(44,319)	$	(4,995)	$	1,298	$	(3,697)
Defined benefit pension plan
adjustments:
Amortization of prior service cost		24		(8)		16		23		(7)		16
Amortization of actuarial loss		203		(53)		150		285		(75)		210
Net change		227		(61)		166		308		(82)		226
Other comprehensive loss	$	(59,569)	$	15,416	$	(44,153)	$	(4,687)	$	1,216	$	(3,471)