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Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Comprehensive Income (Loss) Comprehensive Income (Loss)
The Company reports comprehensive income or loss in addition to net income from operations. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income.
The following table shows the changes in the balances of each of the components of other comprehensive income (loss) for the periods presented.
 Year Ended December 31, 2023
(in thousands)Before
Tax Amount
Tax Benefit
(Expense)
Net of
Tax Amount
Net unrealized gains on securities available for sale$14,956 $(3,797)$11,159 
Amortization of gain on debt securities reclassified to held to maturity from available for sale(654)176 (478)
Other comprehensive income$14,302 $(3,621)$10,681 
 Year Ended December 31, 2022
(in thousands)Before
Tax Amount
Tax Benefit
(Expense)
Net of
Tax Amount
Unrealized holding losses on securities available for sale arising during the period$(105,262)$27,788 $(77,474)
Amortization of gain on debt securities reclassified to held to maturity from available for sale(747)196 (551)
Other comprehensive loss$(106,009)$27,984 $(78,025)
 Year Ended December 31, 2021
(in thousands)Before
Tax Amount
Tax Benefit
(Expense)
Net of
Tax Amount
 
Unrealized holding losses on securities available for sale arising during the period$(15,117)$4,466 $(10,651)
Reclassification adjustment for securities gains included in net income(9)(6)
Unrealized holding losses on securities available for sale(15,126)4,469 (10,657)
Net gain on securities reclassified from available for sale to held to maturity3,814 (1,030)2,784 
Amortization of gain on debt securities reclassified to held to maturity from available for sale(383)118 (265)
Unrealized losses on derivatives143 (168)(25)
Change in pension liability, net43 (13)30 
Other comprehensive loss$(11,509)$3,376 $(8,133)
The following table presents the changes in the components of accumulated other comprehensive (loss) income, net of tax, for the years ended December 31, 2023, 2022 and 2021 (in thousands):
(in thousands)Unrealized
Gains (Losses)  on
Available-
for-Sale
Securities
Amortization
of Gain on
Debt
Securities
Reclassified
to Held to
Maturity
Unrealized
Gains 
(Losses) on  Derivatives
Pension
Items
Total
Balance at January 1, 2021$11,402 $— $25 $(30)$11,397 
Net unrealized gain on securities reclassified from available for sale to held to maturity(2,784)2,784 — — — 
Other comprehensive income (loss) before classifications(7,867)(265)(25)30 (8,127)
Amounts reclassified from accumulated other comprehensive income(6)— — — (6)
Net current period other comprehensive (loss) income(7,873)(265)(25)30 (8,133)
Balance at December 31, 2021$745 $2,519 $— $— $3,264 
Net current period other comprehensive (loss) income (77,474)(551)— — (78,025)
Balance at December 31, 2022$(76,729)$1,968 $— $— $(74,761)
Net current period other comprehensive income (loss) 11,159 (478)— — 10,681 
Balance at December 31, 2023$(65,570)$1,490 $— $— $(64,080)