Accumulated Other Comprehensive Income (Loss) Balances, Net of Tax |
The following is a summary of the accumulated other comprehensive income (loss) balances, net of tax:
|
|
December 31, 2023
|
|
(dollars in thousands)
|
|
Balance at
12/31/2022
|
|
|
Other
Comprehensive
Income (loss)-
Before
Reclassifications
|
|
|
Amount
reclassified
from Accumulated
Other Comprehensive
Income
|
|
|
Other
Comprehensive
Income (loss)-
year ended
12/31/2023
|
|
|
Balance at
12/31/2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized holding gain (loss) on securities available for sale, net of tax
|
|
$
|
(32,271
|
)
|
|
$
|
8,372
|
|
|
$
|
-
|
|
|
$
|
8,372
|
|
|
$
|
(23,899
|
)
|
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax
|
|
|
7,588
|
|
|
|
5,888
|
|
|
|
-
|
|
|
|
5,888
|
|
|
|
13,476
|
|
Net change in net actuarial gain and prior service cost on pension and pension and postretirement benefit plans, net of tax
|
|
|
(2,511
|
)
|
|
|
- |
|
|
|
(303
|
)
|
|
|
(303
|
)
|
|
|
(2,814
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive (loss) income, net of tax
|
|
$
|
(27,194
|
)
|
|
$
|
14,260
|
|
|
$
|
(303
|
)
|
|
$
|
13,957
|
|
|
$
|
(13,237
|
)
|
|
|
December 31, 2022
|
|
(dollars in thousands)
|
|
Balance at
12/31/2021
|
|
|
Other
Comprehensive
Income (loss)-
Before
Reclassifications
|
|
|
Amount
reclassified
from Accumulated
Other Comprehensive
Income
|
|
|
Other
Comprehensive
Income (loss)-
year ended
12/31/2022
|
|
|
Balance at
12/31/2022
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized holding gain on securities available for sale, net of tax
|
|
$
|
(26
|
)
|
|
$
|
(32,245
|
)
|
|
$
|
-
|
|
|
$
|
(32,245
|
)
|
|
$
|
(32,271
|
)
|
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax
|
|
|
13,706
|
|
|
|
(6,118
|
)
|
|
|
-
|
|
|
|
(6,118
|
)
|
|
|
7,588
|
|
Net change in net actuarial gain and prior service credit on pension and pension and postretirement benefit plans, net of
tax
|
|
|
(1,533
|
)
|
|
|
- |
|
|
|
(978
|
)
|
|
|
(978
|
)
|
|
|
(2,511
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income (loss), net of tax
|
|
$
|
12,147
|
|
|
$
|
(38,363
|
)
|
|
$
|
(978
|
)
|
|
$
|
(39,341
|
)
|
|
$
|
(27,194
|
)
|
|
|
December 31, 2021
|
|
(dollars in thousands)
|
|
Balance at
12/31/2020
|
|
|
Other
Comprehensive
Income (loss)-
Before
Reclassifications
|
|
|
Amount
reclassified
from Accumulated
Other Comprehensive
Income
|
|
|
Other
Comprehensive
Income (loss)-
year ended
12/31/2021
|
|
|
Balance at
12/31/2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized holding (loss) gain on securities available for sale, net of tax
|
|
$
|
7,186
|
|
|
$
|
(7,212
|
)
|
|
$
|
-
|
|
|
$
|
(7,212
|
)
|
|
$
|
(26
|
)
|
Net change in overfunded position in pension and postretirement plans arising during the year, net of tax
|
|
|
6,084
|
|
|
|
7,622
|
|
|
|
-
|
|
|
|
7,622
|
|
|
|
13,706
|
|
Net change in net actuarial gain and prior service credit on pension and pension and postretirement benefit plans, net of
tax
|
|
|
(1,334
|
)
|
|
|
-
|
|
|
|
(199
|
)
|
|
|
(199
|
)
|
|
|
(1,533
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income, net of tax
|
|
$
|
11,936
|
|
|
$
|
410
|
|
|
$
|
(199
|
)
|
|
$
|
211
|
|
|
$
|
12,147
|
|
|
Reclassifications out of Accumulated Other Comprehensive Income (Loss) |
The following represents the reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2023, 2022 and
2021:
(dollars in thousands)
|
|
Years ended
December 31,
|
|
|
|
|
2023
|
|
|
2022
|
|
|
2021
|
|
Affected Line Item in Financial Statements
|
Amortization of pension and postretirement benefit items:
|
|
|
|
|
|
|
|
|
|
|
Amortization of net actuarial gain
|
|
|
423
|
|
|
|
1,008
|
|
|
|
674
|
|
Salaries and employee benefits
|
Amortization of prior service (cost) credit
|
|
|
(13
|
)
|
|
|
313
|
|
|
|
(405
|
)
|
Salaries and employee benefits
|
Income tax benefit
|
|
|
(107
|
)
|
|
|
(343
|
)
|
|
|
(70
|
)
|
Income taxes
|
Net of tax
|
|
|
303
|
|
|
|
978
|
|
|
|
199
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total reclassifications, net of tax
|
|
$
|
303
|
|
|
$
|
978
|
|
|
$
|
199
|
|
|
|