Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Components of Other Comprehensive Income and Related Tax Effects

Other comprehensive income components and related tax effects were as follows for the years ended December 31, 2023, 2022, and 2021:


	December 31, 2023		December 31, 2022		December 31, 2021
Unrealized holding gains (losses) on available-for-sale securities	$	7,785	$	(67,167)	$	(19,526)
Less reclassification adjustment for gains recognized in earnings	(52)		(651)		(783)
Net unrealized gains (losses)	7,733		(67,818)		(20,309)
Tax effect	(1,624)		14,242		4,265
Net-of-tax amount	6,109		(53,576)		(16,044)


Amortization of unrealized gains from held-to-maturity securities	748		1,107		—
Tax effect	(157)		(232)		—
Net-of-tax amount	591		875		—
Actuarial gains (losses) on postemployment health care plan	(2)		303		391
Net amortization of transition obligation and actuarial gain	(174)		(113)		(43)
Net unrealized gains (losses) on postemployment health care plan	(176)		190		348
Tax effect	37		(40)		(73)
Net-of-tax amount	(139)		150		275
Unrealized gains on interest rate swap	—		411		105
Less reclassification adjustment for gains (losses) recognized in earnings	(151)		127		276
Net unrealized gains (losses)	(151)		538		381
Tax effect	32		(113)		(80)
Net-of-tax amount	(119)		425		301
Other comprehensive income (loss)	$	6,442	$	(52,126)	$	(15,468)

Schedule of Change in Accumulated Other Comprehensive Income (Loss)

The following is a summary of the change in the accumulated other comprehensive income (loss) balance, net of tax, for the years ended December 31, 2023, 2022, and 2021.


	Balance December 31, 2022		Comprehensive Income (Loss)		Balance December 31, 2023
Unrealized gains on securities available-for-sale	$	(54,282)	$	6,109	$	(48,173)
Amortization of unrealized gains from held-to-maturity securities	875		591		1,466
Unrealized gains (losses) on postretirement benefits plan	768		(139)		629
Unrealized gains (losses) on interest rate swap	119		(119)		—
Total	$	(52,520)	$	6,442	$	(46,078)


	Balance December 31, 2021		Comprehensive Income (Loss)		Balance December 31, 2022
Unrealized losses on securities available-for-sale	$	(706)	$	(53,576)	$	(54,282)
Amortization of unrealized gains from held-to-maturity securities	—		875		875
Unrealized gains on postretirement benefits plan	618		150		768
Unrealized gains (losses) on interest rate swap	(306)		425		119
Total	$	(394)	$	(52,126)	$	(52,520)


	Balance January 1, 2021		Comprehensive Income (Loss)		Balance December 31, 2021
Unrealized gains (losses) on securities available-for-sale	$	15,338	$	(16,044)	$	(706)
Unrealized gains on postretirement benefits plan	343		275		618
Unrealized gains (losses) on interest rate swap	(607)		301		(306)
Total	$	15,074	$	(15,468)	$	(394)