ACCUMULATED OTHER COMPREHENSIVE INCOME OR LOSS

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME OR LOSS

ACCUMULATED OTHER COMPREHENSIVE INCOME OR LOSS

Accumulated other comprehensive income or loss represents the net unrealized holding gains or losses on securities available for sale and the funded status of the Corporation's defined benefit pension plan and other benefit plans, as of the consolidated balance sheet dates, net of the related tax effect.

The following is a summary of the changes in accumulated other comprehensive income or loss by component, net of tax, for the periods indicated (in thousands):

	Unrealized Gains and Losses on Securities Available for Sale		Defined Benefit and Other Benefit Plans		Total
Balance at January 1, 2022	$	(2,495)	$	(4,035)	$	(6,530)
Other comprehensive income before reclassification	(68,801)		47		(68,754)
Amounts reclassified from accumulated other comprehensive income (loss)	—		27		27
Net current period other comprehensive income (loss)	(68,801)		74		(68,727)
Balance at December 31, 2022	$	(71,296)	$	(3,961)	$	(75,257)

	Unrealized Gains and Losses on Securities Available for Sale		Defined Benefit and Other Benefit Plans		Total
Balance at January 1, 2021	$	9,127	$	(6,726)	$	2,401
Other comprehensive income (loss) before reclassification	(11,622)		2,698		(8,924)
Amounts reclassified from accumulated other comprehensive income (loss)	—		(7)		(7)
Net current period other comprehensive income (loss)	(11,622)		2,691		(8,931)
Balance at December 31, 2021	$	(2,495)	$	(4,035)	$	(6,530)

The following is the reclassification out of accumulated other comprehensive income (loss) for the periods indicated (in thousands):

Details about Accumulated Other Comprehensive Income (Loss) Components	Year Ended December 31,				Affected Line Item  in the Statement Where Net Income is Presented
	2022		2021
Amortization of defined pension plan and other benefit plan items:
Prior service costs (a)	—		(220)		Other components of net periodic pension and postretirement benefits
Actuarial losses (a)	38		212		Other components of net periodic pension and postretirement benefits
Tax effect	(11)		1		Income tax expense
Total reclassification for the period, net of tax	$	27	$	(7)

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other benefit plan costs (see Note 13 for additional information).