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Accumulated Other Comprehensive Income (Tables)
12 Months Ended
Dec. 31, 2022
Accumulated Other Comprehensive Income ("AOCI")  
Schedule of changes in AOCI by component

Year Ended December 31, 2022 and 2021

    

    

Unamortized

    

    

Unrealized

Unrealized

Gain on

Gains (Losses) on

Available-

Available-

for-Sale

Defined

for-Sale

Securities

Benefit

Securities

Reclassified

Pension

and I/O

to Held-to-

Plan

Strips

Maturity

Items(1)

Total

(Dollars in thousands)

Beginning balance January 1, 2022, net of taxes

$

2,153

$

$

(13,149)

$

(10,996)

Other comprehensive (loss) before reclassification,

net of taxes

 

(13,547)

 

 

7,395

 

(6,152)

Amounts reclassified from other comprehensive income,

net of taxes

 

 

 

292

 

292

Net current period other comprehensive income (loss),

net of taxes

 

(13,547)

 

 

7,687

 

(5,860)

Ending balance December 31, 2022, net of taxes

$

(11,394)

$

$

(5,462)

$

(16,856)

Beginning balance January 1, 2021, net of taxes

$

3,929

$

261

$

(14,907)

$

(10,717)

Other comprehensive (loss) before reclassification,

net of taxes

 

(1,776)

 

 

1,308

 

(468)

Amounts reclassified from other comprehensive income (loss),

net of taxes

 

 

(261)

 

450

 

189

Net current period other comprehensive income (loss),

net of taxes

 

(1,776)

 

(261)

 

1,758

 

(279)

Ending balance December 31, 2021, net of taxes

$

2,153

$

$

(13,149)

$

(10,996)

(1)This AOCI component is included in the computation of net periodic benefit cost (see Note 13—Benefit Plans) and includes split-dollar life insurance benefit plan.
Schedule of reclassifications out of AOCI into net income

Amounts Reclassified from

 

AOCI

 

Year Ended

December 31, 

Affected Line Item Where

 

Details About AOCI Components

    

2022

    

2021

    

2020

    

Net Income is Presented

 

(Dollars in thousands)

 

Unrealized gains on available-for-sale securities

and I/O strips

$

$

$

277

 

Gain on sales of securities

 

 

 

(82)

 

Income tax expense

 

 

 

195

 

Net of tax

Amortization of unrealized gain on securities

available-for-sale that were reclassified to securities

  held-to-maturity

$

$

371

 

52

 

Interest income on taxable securities

 

 

(110)

 

(15)

 

Income tax expense

 

 

261

 

37

 

Net of tax

Amortization of defined benefit pension plan items (1)

Prior transition obligation and actuarial losses (2)

 

41

 

4

 

60

Prior service cost and actuarial losses (3)

 

(455)

 

(643)

 

(387)

 

(414)

 

(639)

 

(327)

 

Other noninterest expense

 

122

 

189

 

97

 

Income tax expense

 

(292)

 

(450)

 

(230)

 

Net of tax

Total reclassification from AOCI for the period

$

(292)

$

(189)

$

2

(1)

This AOCI component is included in the computation of net periodic benefit cost (see Note 13 — Benefit Plans).

(2)   This is related to the split dollar life insurance benefit plan.

(3)   This is related to the supplemental executive retirement plan.