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Other Comprehensive Income (Loss) (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Components of Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss), net of tax, as of December 31, 2022, 2021 and 2020:

 

 

 

Before Tax

 

 

Tax Effect

 

 

Net of Tax

 

Year Ended December 31, 2022

 

 

 

 

 

 

 

 

 

Net unrealized losses on investment securities:

 

 

 

 

 

 

 

 

 

Other comprehensive loss before reclassifications

 

$

(85,517

)

 

$

(18,079

)

 

$

(67,438

)

Amounts reclassified from accumulated other comprehensive
   loss

 

 

(10

)

 

 

(2

)

 

 

(8

)

Net unrealized losses on investment securities

 

 

(85,527

)

 

 

(18,081

)

 

 

(67,446

)

 

 

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

 

 

Other comprehensive income before reclassifications

 

 

736

 

 

 

155

 

 

 

581

 

Amounts reclassified from accumulated other comprehensive
   income

 

 

 

 

 

 

 

 

 

Defined benefit plans, net

 

 

736

 

 

 

155

 

 

 

581

 

Other comprehensive loss

 

$

(84,791

)

 

$

(17,926

)

 

$

(66,865

)

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2021

 

 

 

 

 

 

 

 

 

Net unrealized losses on investment securities:

 

 

 

 

 

 

 

 

 

Other comprehensive loss before reclassifications

 

$

(8,570

)

 

$

(1,799

)

 

$

(6,771

)

Amounts reclassified from accumulated other comprehensive
    loss

 

 

(1

)

 

 

 

 

 

(1

)

Net unrealized losses on investment securities

 

 

(8,571

)

 

 

(1,799

)

 

 

(6,772

)

 

 

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

 

 

Other comprehensive income before reclassifications

 

 

992

 

 

 

209

 

 

 

783

 

Amounts reclassified from accumulated other comprehensive
   income

 

 

240

 

 

 

50

 

 

 

190

 

Defined benefit plans, net

 

 

1,232

 

 

 

259

 

 

 

973

 

Other comprehensive loss

 

$

(7,339

)

 

$

(1,540

)

 

$

(5,799

)

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2020

 

 

 

 

 

 

 

 

 

Net unrealized gains on investment securities:

 

 

 

 

 

 

 

 

 

Other comprehensive income before reclassifications

 

$

10,935

 

 

$

2,297

 

 

$

8,638

 

Amounts reclassified from accumulated other comprehensive
   income

 

 

(94

)

 

 

(20

)

 

 

(74

)

Net unrealized gains on investment securities

 

 

10,841

 

 

 

2,277

 

 

 

8,564

 

 

 

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

 

 

Other comprehensive loss before reclassifications

 

 

(1,326

)

 

 

(279

)

 

 

(1,047

)

Amounts reclassified from accumulated other comprehensive
   loss

 

 

289

 

 

 

61

 

 

 

228

 

Defined benefit plans, net

 

 

(1,037

)

 

 

(218

)

 

 

(819

)

Other comprehensive income

 

$

9,804

 

 

$

2,059

 

 

$

7,745

 

 

 

 

 

 

 

 

 

 

 

 

Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss

The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss as of December 31, 2022, 2021 and 2020.

 

 

 

Amount Reclassified from
Accumulated Other
Comprehensive Loss (a)

 

 

 

 

 

 

For the year ended December 31,

 

 

 

 

Details about Accumulated Other
Comprehensive Income
(Loss) Components

 

2022

 

 

 

2021

 

 

 

2020

 

 

 

Affected Line Item in the
Statement Where Net Income is
Presented

Unrealized gains (losses) on available for sale
   securities

 

$

10

 

 

 

$

1

 

 

 

$

94

 

 

 

Net gain on sale of securities

Tax effect

 

 

(2

)

 

 

 

 

 

 

 

(20

)

 

 

Income taxes

 

 

 

8

 

 

 

 

1

 

 

 

 

74

 

 

 

 

Amortization of defined benefit pension items

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial losses

 

 

 

(b)

 

 

(240

)

(b)

 

 

(289

)

(b)

 

Other operating expenses

Tax effect

 

 

 

 

 

 

50

 

 

 

 

61

 

 

 

Income taxes

 

 

 

 

 

 

 

(190

)

 

 

 

(228

)

 

 

 

Total reclassifications for the period

 

$

8

 

 

 

$

(189

)

 

 

$

(154

)

 

 

 

 

(a)
Amounts in parentheses indicate expenses and other amounts indicate income.
(b)
These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost.