Accumulated Other Comprehensive Loss ("AOCL")

12 Months Ended

Dec. 31, 2021

Accumulated Other Comprehensive Loss ("AOCL") [Abstract]

Accumulated Other Comprehensive Loss ("AOCL")

16. Accumulated Other Comprehensive Loss (“AOCL”)

The following table presents the changes in each component of accumulated other comprehensive loss for the years ended December 31, 2021 and 2020:

(in thousands)	Investment securities- with OTTI AFS		Investment securities- all other AFS		Investment securities- HTM		Cash Flow Hedge		Pension Plan		SERP		Total
Accumulated OCL, net:
Balance - January 1, 2020	$	(2,542)	$	(853)	$	(899)	$	(85)	$	(20,417)	$	(1,175)	$	(25,971)
Other comprehensive income/(loss) before reclassifications		(587)		1,291		—		(869)		(3,262)		(625)		(4,052)
Amounts reclassified from accumulated   other comprehensive loss		(148)		(463)		584		—		1,049		138		1,160
Balance - December 31, 2020	$	(3,277)	$	(25)	$	(315)	$	(954)	$	(22,630)	$	(1,662)	$	(28,863)
Other comprehensive income/(loss) before reclassifications		2,475		(5,611)		—		635		3,431		(521)		409
Amounts reclassified from accumulated   other comprehensive loss		(147)		(113)		181		—		1,091		128		1,140
Balance - December 31, 2021	$	(949)	$	(5,749)	$	(134)	$	(319)	$	(18,108)	$	(2,055)	$	(27,314)

The following tables present the components of other comprehensive loss for the years ended December 31, 2021 and 2020:

Components of Other Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the year ended December 31, 2021
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	3,379	$	(904)	$	2,475
Less: accretable yield recognized in income		201		(54)		147
Net unrealized gains on investments with OTTI		3,178		(850)		2,328
Available for sale securities – all other:
Unrealized holding losses		(7,661)		2,050		(5,611)
Less: gains recognized in income		154		(41)		113
Net unrealized losses on all other AFS securities		(7,815)		2,091		(5,724)
Held to maturity securities:
Unrealized holding gains		—		—		—
Less: amortization recognized in income		(247)		66		(181)
Net unrealized gains on HTM securities		247		(66)		181
Cash flow hedges:
Unrealized holding gains		867		(232)		635
Less: amortization recognized in income		—		—		—
Net unrealized gains on cash flow hedges		867		(232)		635
Pension Plan:
Unrealized net actuarial gain		4,684		(1,253)		3,431
Less: amortization of unrecognized loss		(1,490)		399		(1,091)
Less: amortization of prior service costs		—		—		—
Net pension plan liability adjustment		6,174		(1,652)		4,522
SERP:
Unrealized net actuarial loss		(711)		190		(521)
Less: amortization of unrecognized loss		(175)		47		(128)
Less: amortization of prior service costs		—		—		—
Net SERP liability adjustment		(536)		143		(393)
Other comprehensive income	$	2,115	$	(566)	$	1,549

Components of Other Comprehensive Loss (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the year ended December 31, 2020
Available for sale (AFS) securities with OTTI:
Unrealized holding losses	$	(803)	$	216	$	(587)
Less: accretable yield recognized in income		202		(54)		148
Net unrealized losses on investments with OTTI		(1,005)		270		(735)
Available for sale securities – all other:
Unrealized holding gains		1,765		(474)		1,291
Less: gains recognized in income		632		(169)		463
Net unrealized losses on all other AFS securities		1,133		(305)		828
Held to maturity securities:
Unrealized holding gains		—		—		—
Less: amortization recognized in income		(798)		214		(584)
Net unrealized gains on HTM securities		798		(214)		584
Cash flow hedges:
Unrealized holding losses		(1,187)		318		(869)
Less: amortization recognized in income		—		—		—
Net unrealized losses on cash flow hedges		(1,187)		318		(869)
Pension Plan:
Unrealized net actuarial loss		(4,456)		1,194		(3,262)
Less: amortization of unrecognized loss		(1,433)		384		(1,049)
Net pension plan liability adjustment		(3,023)		810		(2,213)
SERP:
Unrealized net actuarial loss		(854)		229		(625)
Less: amortization of unrecognized loss		(188)		50		(138)
Less: amortization of prior service costs		—		—		—
Net SERP liability adjustment		(666)		179		(487)
Other comprehensive loss	$	(3,950)	$	1,058	$	(2,892)

The following tables present the details of accumulated other comprehensive loss components for the years ended December 31, 2021 and 2020:

Details of Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Loss		Affected Line Item in the Statement
(in thousands)	2021		Where Net Income is Presented
Net unrealized losses on investment securities with OTTI:
Accretable Yield	$	201	Interest income on taxable investment securities
Taxes		(54)	Provision for income tax expense
	$	147	Net of tax
Net unrealized gains on available for sale   investment securities - all other:
Gains on sales	$	154	Net gains
Taxes		(41)	Provision for income tax expense
	$	113	Net of tax
Net unrealized gains on held to maturity   investment securities:
Amortization	$	(247)	Interest income on taxable investment securities
Taxes		66	Provision for income tax expense
	$	(181)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(1,490)	Other expense
Taxes		399	Provision for income tax expense
	$	(1,091)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(175)	Other expense
Taxes		47	Provision for income tax expense
	$	(128)	Net of tax
Total reclassifications for the period	$	(1,140)	Net of tax

Details of Accumulated Other Comprehensive Loss Components	Amount Reclassified from Accumulated Other Comprehensive Loss		Affected Line Item in the Statement
(in thousands)	2020		Where Net Income is Presented
Net unrealized gains on investment securities with OTTI:
Accretable Yield	$	202	Interest income on taxable investment securities
Taxes		(54)	Provision for income tax expense
	$	148	Net of tax
Net unrealized losses on available for sale   investment securities - all other:
Gains on sales	$	632	Net gains
Taxes		(169)	Provision for income tax expense
	$	463	Net of tax
Net unrealized gains on held to maturity   investment securities:
Amortization	$	(798)	Interest income on taxable investment securities
Taxes		214	Provision for income tax expense
	$	(584)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(1,433)	Other expense
Taxes		384	Provision for income tax expense
	$	(1,049)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(188)	Other expense
Taxes		50	Provision for income tax expense
	$	(138)	Net of tax
Total reclassifications for the period	$	(1,160)	Net of tax