Note 7 - Comprehensive (Loss) Income

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 7. Comprehensive (Loss) Income  

Total comprehensive (loss) income includes all changes in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s other comprehensive income is comprised of unrealized holding gains and losses on securities available-for-sale, unrealized gains (losses) on cash flow hedges, obligations for defined benefit pension plan and an adjustment to reflect the curtailment of the Company’s defined benefit pension plan, each net of taxes.

The following table represents the reclassification out of accumulated other comprehensive (loss) for the periods presented (dollars in thousands):

Details about Accumulated Other Comprehensive Income Components	Amounts Reclassified from Accumulated Other Comprehensive Income						Amounts Reclassified from Accumulated Other Comprehensive Income						Affected Line item in the Consolidated Statements of Income
	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Sale of investment securities available-for-sale	$	-		$	-		$	-		$	195		Net gains on sale of securities available-for-sale
		-			-			-			(48	)	Income tax expense
	$	-		$	-		$	-		$	147
Net interest expense on swaps	$	1,178		$	(328	)	$	524		$	(1,543	)	Borrowings
		(343	)		90			(159	)		434		Income tax (expense) benefit
	$	835		$	(238	)	$	365		$	(1,109	)
Amortization of pension plan net actuarial losses	$	(17	)	$	(75	)	$	(49	)	$	(225	)	Other components of net periodic pension expense
		5			21			14			63		Income tax benefit
	$	(12	)	$	(54	)	$	(35	)	$	(162	)
Total reclassification	$	823		$	(292	)	$	330		$	(1,124	)

Accumulated other comprehensive loss as of September 30, 2022 and December 31, 2021 consisted of the following:

	September 30, 2022			December 31, 2021
	(dollars in thousands)
Investment securities available-for-sale, net of tax	$	(67,734	)	$	(484	)
Cash flow hedge, net of tax		32,913			2,406
Defined benefit pension and post-retirement plans, net of tax		(1,671	)		(3,326	)
Total	$	(36,492	)	$	(1,404	)