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Comprehensive Income
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Comprehensive Income Comprehensive Income
Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of other comprehensive income.
The components of other comprehensive income (loss) and related tax effects are as follows:
Three months ended March 31,
(in thousands)20202019
Unrealized holding gains (losses) on available for sale securities before reclassifications$(29,561) $12,710  
Tax effect8,739  (3,758) 
Unrealized holding gains (losses) on available for sale securities, net of tax(20,822) 8,952  
Change in unfunded status of the supplemental retirement plans before reclassifications448  (89) 
Amounts reclassified out of accumulated other comprehensive income (loss):
Amortization of prior service cost(14) (13) 
Amortization of actuarial losses478  102  
Total amounts reclassified out of accumulated other comprehensive income (loss)464  89  
Change in unfunded status of the supplemental retirement plans after reclassifications912  —  
Tax effect—  —  
Change in unfunded status of the supplemental retirement plans, net of tax912  —  
Total other comprehensive income (loss)$(19,910) $8,952  
The components of accumulated other comprehensive income (loss), included in shareholders’ equity, are as follows:
(in thousands)March 31,
2020		December 31,
2019
Net unrealized gain (loss) on available for sale securities$(26,174) $3,387  
Tax effect7,738  (1,001) 
Unrealized holding gain (loss) on available for sale securities, net of tax(18,436) 2,386  
Unfunded status of the supplemental retirement plans(11,193) (11,193) 
Tax effect3,309  3,309  
Unfunded status of the supplemental retirement plans, net of tax(7,884) (7,884) 
Joint beneficiary agreement liability1,188  276  
Tax effect—  —  
Joint beneficiary agreement liability, net of tax1,188  276  
Accumulated other comprehensive income (loss)$(25,132) $(5,222)