Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Components of Other Comprehensive Income (Loss) and Related Tax Effects

The components of other comprehensive income and related tax effects are as follows:

	Three months ended June 30,				Six months ended June 30,
(in thousands)	2021		2020		2021		2020
Unrealized holding losses on available for sale securities before reclassifications	$	7,392	$	34,959	$	(4,945)	$	5,398
Amounts reclassified out of AOCI:
Realized gain on debt securities	—		—		—		—
Unrealized holding losses on available for sale securities after reclassifications	7,392		34,959		(4,945)		5,398
Tax effect	(2,186)		(10,334)		1,461		(1,595)
Unrealized holding losses on available for sale securities, net of tax	5,206		24,625		(3,484)		3,803
Change in unfunded status of the supplemental retirement plans before reclassifications	(49)		661		(98)		1,109
Amounts reclassified out of AOCI:
Amortization of prior service cost	(15)		(13)		(29)		(27)
Amortization of actuarial losses	64		478		127		956
Total amounts reclassified out of accumulated other comprehensive income	49		465		98		929
Change in unfunded status of the supplemental retirement plans after reclassifications	—		1,126		—		2,038
Tax effect	—		—		—		—
Change in unfunded status of the supplemental retirement plans, net of tax	—		1,126		—		2,038
Change in joint beneficiary agreement liability before reclassifications	—		—		(629)		—
Tax effect	—		—		—		—
Change in joint beneficiary agreement liability before reclassifications, net of tax	—		—		(629)		—
Total other comprehensive income (loss)	$	5,206	$	25,751	$	(4,113)	$	5,841

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive income, included in shareholders’ equity, are as follows:

(in thousands)	June 30, 2021		December 31, 2020
Net unrealized gain on available for sale securities	$	14,238	$	19,183
Tax effect	(4,210)		(5,671)
Unrealized holding gain on available for sale securities, net of tax	10,028		13,512
Unfunded status of the supplemental retirement plans	(1,294)		(1,294)
Tax effect	382		382
Unfunded status of the supplemental retirement plans, net of tax	(912)		(912)
Joint beneficiary agreement liability	(949)		(320)
Tax effect	—		—
Joint beneficiary agreement liability, net of tax	(949)		(320)
Accumulated other comprehensive income	$	8,167	$	12,280