Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2024

The following table presents the components of other comprehensive income for the three month periods ended March 31, 2024 and 2023:


Schedule of Comprehensive Income
	Three Months Ended March 31
			Tax
	Before-Tax		Benefit		Net-of-Tax
	Amount		(Expense)		Amount
2024
Net Unrealized Securities Holding Loss on Securities Available-for-Sale Arising During the Period	$	(2,062)	$	532	$	(1,530)
Net Unrealized Gain on Cash Flow Swap	3,221		(831)		2,390



Reclassification of Net Unrealized Gain on Cash Flow Hedge Agreements to Interest Expense	(213)		55		(158)
Amortization of Net Retirement Plan Actuarial Gain	(66)		16		(50)
Amortization of Net Retirement Plan Prior Service Cost	69		(19)		50
Other Comprehensive Income	$	949	$	(247)	$	702

2023
Net Unrealized Securities Holding Gain on Securities Available-for-Sale Arising During the Period	$	8,219	$	(2,120)	$	6,099
Net Unrealized Loss on Cash Flow Swap	(800)		207		(593)
Reclassification of Net Unrealized Loss on Cash Flow Hedge Agreements to Interest Expense	198		(51)		147


Amortization of Net Retirement Plan Actuarial Gain	(25)		7		(18)
Amortization of Net Retirement Plan Prior Service Cost	52		(15)		37
Other Comprehensive Income	$	7,644	$	(1,972)	$	5,672

The following table presents the changes in accumulated other comprehensive (loss) income by component:


Changes in Accumulated Other Comprehensive (Loss) Income by Component (1)

	Unrealized Loss on Available-for-Sale Securities		Unrealized Gain on Cash Flow Swap		Defined Benefit Plan Items				Total
					Net Actuarial Loss		Net Prior Service Cost


For the quarter-to-date periods ended:
December 31, 2023	$	(31,648)	$	1,711	$	(2,839)	$	(640)	$	(33,416)
Other comprehensive income or loss before reclassifications	(1,530)		2,390		—		—		860
Amounts reclassified from accumulated other comprehensive income or loss	—		(158)		(50)		50		(158)
Net current-period other comprehensive income or loss	(1,530)		2,232		(50)		50		702

March 31, 2024	$	(33,178)	$	3,943	$	(2,889)	$	(590)	$	(32,714)


December 31, 2022	$	(48,841)	$	4,054	$	(4,467)	$	(401)	$	(49,655)
Other comprehensive income or loss before reclassifications	6,099		(593)		—		—		5,506
Amounts reclassified from accumulated other comprehensive income or loss	—		147		(18)		37		166
Net current-period other comprehensive income or loss	6,099		(446)		(18)		37		5,672

March 31, 2023	$	(42,742)	$	3,608	$	(4,485)	$	(364)	$	(43,983)

(1) All amounts are net of tax.

The following table presents the reclassifications out of accumulated other comprehensive income or loss:


Reclassifications Out of Accumulated Other Comprehensive Income or Loss

Details about Accumulated Other Comprehensive Income or Loss Components	Amounts Reclassified from Accumulated Other Comprehensive Income or Loss			Affected Line Item in the Statement Where Net Income Is Presented

For the quarter-to-date periods ended:

March 31, 2024





Reclassification of Net Unrealized Gain on Cash Flow Hedge Agreements to Interest Expense	$	213		Interest expense
Amortization of defined benefit pension items:
Prior-service costs	(69)		(1)	Salaries and Employee Benefits
Actuarial gain	66		(1)	Salaries and Employee Benefits
	210			Total before Tax
	(52)			Provision for Income Taxes
Total reclassifications for the period	$	158		Net of Tax



March 31, 2023
Reclassification of Net Unrealized Loss on Cash Flow Hedge Agreements to Interest Expense	$	(198)		Interest expense
Amortization of defined benefit pension items:
Prior-service costs	$	(52)	(1)	Salaries and Employee Benefits
Actuarial gain	25		(1)	Salaries and Employee Benefits
	(225)			Total before Tax
	59			Provision for Income Taxes
Total reclassifications for the period	$	(166)		Net of Tax



































(1) These accumulated other comprehensive gain or loss components are included in the computation of net periodic pension cost.