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Accumulated Other Comprehensive Income (Tables)
12 Months Ended
Dec. 31, 2023
Accumulated Other Comprehensive Loss [Abstract]  
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