ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2023

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in the balances of each component of accumulated other comprehensive income (loss), net of tax, as of December 31, 2023 and 2022:


	Accumulated Other Comprehensive Income (Loss)
	Unrealized Gains (Losses) on Securities Available for Sale		Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Defined Benefit Plans		Total
Balance at December 31, 2022	$	(234,495)	$	130	$	(4,786)	$	(239,151)
Other comprehensive income (loss) before reclassifications	55,366		(142)		2,405		57,629
Amounts reclassified from accumulated other comprehensive income (loss)	5,475		12		65		5,552
Period change	60,841		(130)		2,470		63,181

Balance at December 31, 2023	$	(173,654)	$	—	$	(2,316)	$	(175,970)


Balance at December 31, 2021	$	59,774	$	(660)	$	(4,001)	$	55,113
Other comprehensive income (loss) before reclassifications	(293,326)		378		(850)		(293,798)
Amounts reclassified from accumulated other comprehensive income (loss)	(943)		412		65		(466)
Period change	(294,269)		790		(785)		(294,264)

Balance at December 31, 2022	$	(234,495)	$	130	$	(4,786)	$	(239,151)

The following table presents the reclassification adjustments out of accumulated other comprehensive income (loss) that were included in net income in the Consolidated Statements of Income for the years ended December 31, 2023, 2022 and 2021:


	Amount Reclassified from Accumulated Other Comprehensive Income (Loss) For the Year Ended December 31,
Details about Accumulated Other Comprehensive Income (Loss) Components	2023		2022		2021		Affected Line Item in the Statements of Income
Unrealized gains (losses) on available for sale securities (1)
Realized securities gains (losses) reclassified into income	$	(6,930)	$	1,194	$	5,674	Other income - net realized gains on sales of available for sale securities
Related income tax benefit (expense)	1,455		(251)		(1,192)		Income tax expense
	$	(5,475)	$	943	$	4,482

Unrealized gains (losses) on cash flow hedges (2)
Interest rate contracts	$	(15)	$	(521)	$	(1,044)	Interest expense - subordinated debentures and other borrowings
Related income tax benefit (expense)	3		109		219		Income tax expense
	$	(12)	$	(412)	$	(825)

Unrealized gains (losses) on defined benefit plans
Amortization of net loss and prior service costs	$	(82)	$	(82)	$	(84)	Other expenses - salaries and employee benefits
Related income tax benefit (expense)	17		17		18		Income tax expense
	$	(65)	$	(65)	$	(66)

Total reclassifications for the period, net of tax	$	(5,552)	$	466	$	3,591

(1) For additional detail related to unrealized gains (losses) on available for sale securities and related amounts reclassified from accumulated other comprehensive income see NOTE 4. INVESTMENT SECURITIES of these Notes to Consolidated Financial Statements.

(2) For additional detail related to unrealized gains (losses) on cash flow hedges and related amounts reclassified from accumulated other comprehensive income see NOTE 13. DERIVATIVE FINANCIAL INSTRUMENTS of these Notes to Consolidated Financial Statements.