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, 2022
	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	$	(444,257)	$	569	$	(444,826)	$	97,863	$	(346,963)	$	21,038	$	(346,963)	$	(325,925)

Retirement obligation	(16,000)		(1,334)		(14,666)		3,489		(11,177)		(20,846)		(11,177)		(32,023)
Foreign currency translation	(90)		0		(90)		0		(90)		(625)		(90)		(715)
Total	$	(460,347)	$	(765)	$	(459,582)	$	101,352	$	(358,230)	$	(433)	$	(358,230)	$	(358,663)


	December 31, 2021
	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	$	(67,759)	$	(759)	$	(67,000)	$	14,462	$	(52,538)	$	73,576	$	(52,538)	$	21,038

Retirement obligation	3,068		(2,198)		5,266		(1,200)		4,066		(24,912)		4,066		(20,846)
Foreign currency translation	(625)		0		(625)		0		(625)		0		(625)		(625)
Total	$	(65,316)	$	(2,957)	$	(62,359)	$	13,262	$	(49,097)	$	48,664	$	(49,097)	$	(433)


	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

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

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)	2022		2021		2020		Affected Line Item in the Consolidated Statements of Income


Realized gains and losses on securities available-for-sale	$	569	$	(759)	$	(4,563)	Net gain (loss) on sales/transfers of investment securities
Defined benefit pension plan
Amortization of prior service cost (2)	302		413		413		Other noninterest expense
Recognized net actuarial loss (2)	(1,636)		(2,611)		(2,334)		Other noninterest expense
Amortization and settlement charges of defined benefit pension items	(1,334)		(2,198)		(1,921)
Total reclassifications for the period, before tax	$	(765)	$	(2,957)	$	(6,484)

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

(2) Included in the computation of net periodic pension cost (see Note 17 - Employee Benefit Plans for additional details).