ACCUMULATED OTHER COMPREHENSIVE INCOME/ (LOSS)

12 Months Ended

Dec. 31, 2021

ACCUMULATED OTHER COMPREHENSIVE INCOME/ (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME/ (LOSS)Comprehensive income/ (loss) is defined as net income plus transactions and other occurrences that are the result of non-owner changes in equity. For financial statements presented for the Company, non-owner changes are comprised of unrealized gains or losses on available-for-sale debt securities and any pension liability adjustments and do not have an impact on the Company’s net income. Realized gains and losses on available-for-sale debt securities and the amortization of net periodic benefit cost impact the Company's net income as discussed in the tables on the following page.

The following table presents the activity in net accumulated other comprehensive income/ (loss) for the periods indicated:


(In thousands)	Unrealized Gains/ (Losses) on Investments Available-for-Sale		Defined Benefit Pension Plan		Total
Balance at January 1, 2019	$	(6,630)	$	(9,124)	$	(15,754)
Period change, net of tax	10,630		792		11,422
Balance at December 31, 2019	4,000		(8,332)		(4,332)
Period change, net of tax	24,175		(1,138)		23,037
Balance at December 31, 2020	28,175		(9,470)		18,705
Period change, net of tax	(28,511)		1,267		(27,244)
Balance at December 31, 2021	$	(336)	$	(8,203)	$	(8,539)

The following table provides the information on the reclassification adjustments out of accumulated other comprehensive income/ (loss) for the periods indicated:


	Year Ended December 31,
(In thousands)	2021		2020		2019
Unrealized gains/ (losses) on investments available-for-sale:
Affected line item in the Consolidated Statements of Income:
Investment securities gains	$	212	$	467	$	77
Income before taxes	212		467		77
Tax expense	(54)		(120)		(20)
Net income	$	158	$	347	$	57

Amortization of defined benefit pension plan items:
Affected line item in the Consolidated Statements of Income:
Recognized actuarial loss (1)	$	(909)	$	(874)	$	(1,059)
Settlement charge (1)	(560)		—		—
Income before taxes	(1,469)		(874)		(1,059)
Tax benefit	376		223		277
Net loss	$	(1,093)	$	(651)	$	(782)

(1)This amount is included in the computation of net periodic benefit cost, see Note 14.