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Accumulated Other Comprehensive Income (Loss) (AOCI)
9 Months Ended
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) ("AOCI")  
Accumulated Other Comprehensive Income (Loss) ("AOCI")

3) Accumulated Other Comprehensive Income (Loss) (“AOCI”)

The following table reflects the changes in AOCI by component for the periods indicated:

Three Months Ended September 30, 2023 and 2022

Unrealized

Losses on

Available-

Defined

for-Sale

Benefit

Securities

Pension

and I/O

Plan

Strips

Items(1)

Total

(Dollars in thousands)

Beginning balance July 1, 2023, net of taxes

$

(11,719)

$

(5,539)

$

(17,258)

Other comprehensive income (loss) before reclassification,

net of taxes

 

(173)

(13)

(186)

Amounts reclassified from other comprehensive income (loss),

net of taxes

 

(25)

(25)

Net current period other comprehensive income (loss),

net of taxes

 

(173)

 

(38)

 

(211)

Ending balance September 30, 2023, net of taxes

$

(11,892)

$

(5,577)

$

(17,469)

Beginning balance July 1, 2022, net of taxes

$

(2,909)

$

(13,009)

$

(15,918)

Other comprehensive income (loss) before reclassification,

net of taxes

 

(9,364)

 

(3)

 

(9,367)

Amounts reclassified from other comprehensive income (loss),

net of taxes

 

 

73

 

73

Net current period other comprehensive income (loss),

net of taxes

 

(9,364)

 

70

 

(9,294)

Ending balance September 30, 2022, net of taxes

$

(12,273)

$

(12,939)

$

(25,212)

Nine Months Ended September 30, 2023 and 2022

Unrealized

Losses on

Available-

Defined

for-Sale

Benefit

Securities

Pension

and I/O

Plan

Strips

Items(1)

Total

(Dollars in thousands)

Beginning balance January 1, 2023, net of taxes

$

(11,394)

$

(5,462)

$

(16,856)

Other comprehensive loss before reclassification,

net of taxes

 

(498)

(41)

(539)

Amounts reclassified from other comprehensive income (loss),

net of taxes

 

(74)

(74)

Net current period other comprehensive income (loss),

net of taxes

 

(498)

 

(115)

 

(613)

Ending balance September 30, 2023, net of taxes

$

(11,892)

$

(5,577)

$

(17,469)

Beginning balance January 1, 2022, net of taxes

$

2,153

$

(13,149)

$

(10,996)

Other comprehensive income (loss) before reclassification,

net of taxes

 

(14,426)

 

(9)

 

(14,435)

Amounts reclassified from other comprehensive income (loss),

net of taxes

 

 

219

 

219

Net current period other comprehensive income (loss),

net of taxes

 

(14,426)

 

210

 

(14,216)

Ending balance September 30, 2022, net of taxes

$

(12,273)

$

(12,939)

$

(25,212)

(1)This AOCI component is included in the computation of net periodic benefit cost (see Note 8—Benefit Plans) and includes split-dollar life insurance benefit plan.

Amounts Reclassified from

 

AOCI

 

Three Months Ended

 

September 30, 

Affected Line Item Where

 

Details About AOCI Components

    

2023

    

2022

    

    

Net Income is Presented

 

(Dollars in thousands)

 

Amortization of defined benefit pension plan items (1)

Prior transition obligation and actuarial losses (2)

$

48

$

10

Prior service cost and actuarial losses (3)

 

(13)

 

(114)

 

35

 

(104)

Other noninterest expense

 

(10)

 

31

Income tax benefit

 

25

 

(73)

 

Net of tax

Total reclassification from AOCI for the period

$

25

$

(73)

Amounts Reclassified from

 

AOCI

 

Nine Months Ended

September 30, 

Affected Line Item Where

 

Details About AOCI Components

    

2023

    

2022

    

    

Net Income is Presented

 

(Dollars in thousands)

 

Amortization of defined benefit pension plan items (1)

Prior transition obligation and actuarial losses (2)

$

143

$

31

Prior service cost and actuarial losses (3)

 

(39)

 

(342)

 

104

 

(311)

 

Other noninterest expense

 

(30)

 

92

 

Income tax benefit

 

74

 

(219)

 

Net of tax

Total reclassification from AOCI for the period

$

74

$

(219)

(1)This AOCI component is included in the computation of net periodic benefit cost (see Note 8—Benefit Plans).
(2)This is related to the split dollar life insurance benefit plan.
(3)This is related to the supplemental executive retirement plan.