ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2020

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated Other Comprehensive Income (Loss)

Shareholders’ equity is affected by transactions and valuations of asset and liability positions that require adjustments to accumulated other comprehensive income (loss). The related tax effects allocated to other comprehensive income and accumulated other comprehensive income (loss) are as follows:


	December 31, 2020
	Total other comprehensive income (loss)										Total accumulated other comprehensive income (loss)
(Dollars in thousands)	Prior to reclass		Reclass from		Pre-tax		Tax effect		Net of tax		Beginning balance		Net activity		Ending balance
Unrealized gain (loss) on debt securities	$	36,643	$	(4,563)	$	41,206	$	(8,894)	$	32,312	$	41,264	$	32,312	$	73,576
Unrealized gain (loss) on derivatives	0		0		0		0		0		0		0		0
Retirement obligation	2,001		(1,921)		3,922		(893)		3,029		(27,941)		3,029		(24,912)

Total	$	38,644	$	(6,484)	$	45,128	$	(9,787)	$	35,341	$	13,323	$	35,341	$	48,664


	December 31, 2019
	Total other comprehensive income (loss)										Total accumulated other comprehensive income (loss)
(Dollars in thousands)	Prior to reclass		Reclass from		Pre-tax		Tax-effect		Net of tax		Beginning Balance		Net Activity		Cumulative effect of new standard		Ending Balance
Unrealized gain (loss) on debt securities	$	65,858	$	(370)	$	66,228	$	(14,269)	$	51,959	$	(11,601)	$	51,959	$	906	$	41,264
Unrealized gain (loss) on derivatives	281		0		281		(64)		217		(217)		217		0		0
Retirement obligation	4,630		(1,390)		6,020		(1,371)		4,649		(32,590)		4,649		0		(27,941)

Total	$	70,769	$	(1,760)	$	72,529	$	(15,704)	$	56,825	$	(44,408)	$	56,825	$	906	$	13,323


	December 31, 2018
	Total other comprehensive income (loss)										Total accumulated other comprehensive income (loss)
(Dollars in thousands)	Prior to reclass		Reclass from		Pre-tax		Tax-effect		Net of tax		Beginning Balance		Net Activity		Cumulative effect of new standard		Ending Balance
Unrealized gain (loss) on debt securities	$	(14,461)	$	(161)	$	(14,300)	$	3,071	$	(11,229)	$	(182)	$	(11,229)	$	(190)	$	(11,601)
Unrealized gain (loss) on derivatives	628		0		628		(144)		484		(577)		484		(124)		(217)
Retirement obligation	(12,319)		(1,775)		(10,544)		2,364		(8,180)		(19,631)		(8,180)		(4,779)		(32,590)
Total	$	(26,152)	$	(1,936)	$	(24,216)	$	5,291	$	(18,925)	$	(20,390)	$	(18,925)	$	(5,093)	$	(44,408)

The following table details the activity reclassified from accumulated other comprehensive income into income during the period:


	Amount Reclassified from Accumulated Other Comprehensive Income (1)
	December 31,
(Dollars in thousands)	2020		2019		2018		Affected Line Item in the Consolidated Statements of Income


Realized gains and losses on securities available-for-sale	$	(4,563)	$	(370)	$	(161)	Net gain (loss) on sales of investment securities
Defined benefit pension plan
Amortization of prior service cost (2)	413		413		413		Other noninterest expense
Recognized net actuarial loss (2)	(2,334)		(1,803)		(2,188)		Other noninterest expense
Amortization and settlement charges of defined benefit pension items	(1,921)		(1,390)		(1,775)
Total reclassifications for the period, before tax	$	(6,484)	$	(1,760)	$	(1,936)

(1) Negative amounts are debits to profit/loss.

(2) Included in the computation of net periodic pension cost (see Note 16 - Employee Benefit Plans for additional details).