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. |
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