ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2020

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated Other Comprehensive Income (Loss)

Shareholders’ equity is affected by transactions and valuations of asset and liability positions that require adjustments to accumulated other comprehensive income (loss). The related tax effects allocated to other comprehensive income and accumulated other comprehensive income (loss) are as follows:


	December 31, 2023
	Total other comprehensive income (loss)										Total accumulated other comprehensive income (loss)
(Dollars in thousands)	Prior to reclass		Reclass from		Pre-tax		Tax effect		Net of tax		Beginning balance		Net activity		Ending balance
Unrealized gain (loss) on debt securities	$	55,129	$	(1,258)	$	56,387	$	(12,420)	$	43,967	$	(325,925)	$	43,967	$	(281,958)
Unrealized gain (loss) on derivatives	4,648		(237)		4,885		(1,130)		3,755		0		3,755		3,755
Retirement obligation	432		(747)		1,179		(273)		906		(32,023)		906		(31,117)
Foreign currency translation	216		0		216		0		216		(715)		216		(499)
Total	$	60,425	$	(2,242)	$	62,667	$	(13,823)	$	48,844	$	(358,663)	$	48,844	$	(309,819)


	December 31, 2022
	Total other comprehensive income (loss)										Total accumulated other comprehensive income (loss)
(Dollars in thousands)	Prior to reclass		Reclass from		Pre-tax		Tax-effect		Net of tax		Beginning Balance		Net Activity		Ending Balance
Unrealized gain (loss) on debt securities	$	(444,257)	$	569	$	(444,826)	$	97,863	$	(346,963)	$	21,038	$	(346,963)	$	(325,925)

Retirement obligation	(16,000)		(1,334)		(14,666)		3,489		(11,177)		(20,846)		(11,177)		(32,023)
Foreign currency translation	(90)		0		(90)		0		(90)		(625)		(90)		(715)
Total	$	(460,347)	$	(765)	$	(459,582)	$	101,352	$	(358,230)	$	(433)	$	(358,230)	$	(358,663)


	December 31, 2021
	Total other comprehensive income (loss)										Total accumulated other comprehensive income (loss)
(Dollars in thousands)	Prior to reclass		Reclass from		Pre-tax		Tax-effect		Net of tax		Beginning Balance		Net Activity		Ending Balance
Unrealized gain (loss) on debt securities	$	(67,759)	$	(759)	$	(67,000)	$	14,462	$	(52,538)	$	73,576	$	(52,538)	$	21,038

Retirement obligation	3,068		(2,198)		5,266		(1,200)		4,066		(24,912)		4,066		(20,846)
Foreign currency translation	(625)		0		(625)		0		(625)		0		(625)		(625)
Total	$	(65,316)	$	(2,957)	$	(62,359)	$	13,262	$	(49,097)	$	48,664	$	(49,097)	$	(433)

The following table details the activity reclassified from accumulated other comprehensive income into income during the period:


	Amount Reclassified from Accumulated Other Comprehensive Income (1)
	December 31,
(Dollars in thousands)	2023		2022		2021		Affected Line Item in the Consolidated Statements of Income
Gain and loss on cash flow hedges
Interest rate contracts	$	(237)	$	0	$	0	Interest expense - deposits
Realized gains and losses on securities available-for-sale	(1,258)		569		(759)		Net gain (loss) on sales/transfers of investment securities
Defined benefit pension plan
Amortization of prior service cost (2)	(10)		302		413		Other noninterest expense
Recognized net actuarial loss (2)	(737)		(1,636)		(2,611)		Other noninterest expense
Amortization and settlement charges of defined benefit pension items	(747)		(1,334)		(2,198)
Total reclassifications for the period, before tax	$	(2,242)	$	(765)	$	(2,957)

(1) Negative amounts are debits to profit/loss.

(2) Included in the computation of net periodic pension cost (see Note 17 - Employee Benefit Plans for additional details)