ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2022

OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables summarize the changes within each classification of accumulated other comprehensive income (loss) for December 31, 2022 and 2021, all shown net of tax:

(dollars in thousands)	Unrealized Gains and (Losses) on Available-for-Sales Securities		Defined Benefit Pension Items		Total
Balance at January 1, 2022	$	17,056	$	(963)	$	16,093
Other comprehensive income (loss) before reclassification	(206,392)		86		(206,306)
Amounts reclassified from accumulated other comprehensive income (loss)	1,182		108		1,290
Net current period other comprehensive income (loss)	(205,210)		194		(205,016)
Balance at December 31, 2022	$	(188,154)	$	(769)	$	(188,923)

(dollars in thousands)	Unrealized Gains and (Losses) on Available-for-Sales Securities		Defined Benefit Pension Items		Total
Balance at January 1, 2021	$	29,182	$	(1,438)	$	27,744
Other comprehensive income (loss) before reclassification	(11,496)		293		(11,203)
Amounts reclassified from accumulated other comprehensive income (loss)	(630)		182		(448)
Net current period other comprehensive income (loss)	(12,126)		475		(11,651)
Balance at December 31, 2021	$	17,056	$	(963)	$	16,093

NOTE 20 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (continued)

Reclassifications out of accumulated other comprehensive income for the years ended December 31, 2022, 2021 and 2020 are as follows:

Details about Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive  Income (Loss)		Affected Line Item in the Statement Where Net Income is Presented
2022
(dollars in thousands)
Amortization of unrealized losses on held-to-maturity securities	$	(1,518)	Interest income
Realized gains and (losses) on available-for-sale securities	21		Net securities gains
Tax effect	315		Income tax expense
Subtotal	(1,182)		Net of tax
Amortization of defined benefit pension items(1)	(144)		Salaries and employee benefits
Tax effect	36		Income tax expense
Subtotal	(108)		Net of tax
Total reclassifications for the period	$	(1,290)	Net income
2021
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	797	Net securities gains
Tax effect	(167)		Income tax expense
Subtotal	630		Net of tax
Amortization of defined benefit pension items(1)	(242)		Salaries and employee benefits
Tax effect	60		Income tax expense
Subtotal	(182)		Net of tax
Total reclassifications for the period	$	448	Net income
2020
(dollars in thousands)
Realized gains and (losses) on available-for-sale securities	$	433	Net securities gains
Tax effect	(91)		Income tax expense
Subtotal	342		Net of tax
Amortization of defined benefit pension items(1)	(251)		Salaries and employee benefits
Tax effect	63		Income tax expense
Subtotal	(188)		Net of tax
Total reclassifications for the period	$	154	Net income

(1)Included in the computation of net pension plan expense as more fully discussed in Note 10 – Pension and Other Postretirement Plans.