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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended
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Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Schedule of components of other comprehensive income (loss) | The following tables present the components of other comprehensive income for the three and nine months ended September 30, 2021 and 2020, by component:
(dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended September 30, 2021 |  |  |  |  |
Net unrealized losses on investment securities: |  |  |  |  |
Net unrealized losses arising during the period | $ | (9,254) |  |  | $ | (2,475) |  |  | $ | (6,779) |
Less: Reclassification adjustments from AOCI realized in net income | (100) |  |  | (27) |  |  | (73) |
Net unrealized losses on investment securities | (9,354) |  |  | (2,502) |  |  | (6,852) |
Defined benefit plans: |  |  |  |  |
Amortization of net actuarial loss | 259 |  |  | 70 |  |  | 189 |
Amortization of net transition obligation | 5 |  |  | 1 |  |  | 4 |
Defined benefit plans, net | 264 |  |  | 71 |  |  | 193 |
Other comprehensive loss | $ | (9,090) |  |  | $ | (2,431) |  |  | $ | (6,659) |
(dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Three Months Ended September 30, 2020 |  |  |  |  |
Net unrealized losses on investment securities: |  |  |  |  |
Net unrealized losses arising during the period | $ | (3,434) |  |  | $ | (919) |  |  | $ | (2,515) |
Less: Reclassification adjustments from AOCI realized in net income | 352 |  |  | 94 |  |  | 258 |
Net unrealized losses on investment securities | (3,082) |  |  | (825) |  |  | (2,257) |
Defined benefit plans: |  |  |  |  |
Amortization of net actuarial loss | 330 |  |  | 89 |  |  | 241 |
Amortization of net transition obligation | 5 |  |  | 1 |  |  | 4 |
Amortization of prior service cost | 3 |  |  | 1 |  |  | 2 |
Defined benefit plans, net | 338 |  |  | 91 |  |  | 247 |
Other comprehensive loss | $ | (2,744) |  |  | $ | (734) |  |  | $ | (2,010) |
(dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Nine Months Ended September 30, 2021 |  |  |  |  |
Net unrealized losses on investment securities: |  |  |  |  |
Net unrealized losses arising during the period | $ | (30,466) |  |  | $ | (8,150) |  |  | $ | (22,316) |
Less: Reclassification adjustments from AOCI realized in net income | (150) |  |  | (40) |  |  | (110) |
Net unrealized losses on investment securities | (30,616) |  |  | (8,190) |  |  | (22,426) |
Defined benefit plans: |  |  |  |  |
Amortization of net actuarial loss | 777 |  |  | 222 |  |  | 555 |
Amortization of net transition obligation | 14 |  |  | 4 |  |  | 10 |
Defined benefit plans, net | 791 |  |  | 226 |  |  | 565 |
Other comprehensive loss | $ | (29,825) |  |  | $ | (7,964) |  |  | $ | (21,861) |
(dollars in thousands) | Before Tax |  | Tax Effect |  | Net of Tax
Nine Months Ended September 30, 2020 |  |  |  |  |
Net unrealized gains on investment securities: |  |  |  |  |
Net unrealized gains arising during the period | $ | 18,994 |  |  | $ | 5,087 |  |  | $ | 13,907 |
Less: Reclassification adjustments from AOCI realized in net income | 352 |  |  | 94 |  |  | 258 |
Net unrealized gains on investment securities | 19,346 |  |  | 5,181 |  |  | 14,165 |
Defined benefit plans: |  |  |  |  |
Net actuarial gains arising during the period | 427 |  |  | 114 |  |  | 313 |
Amortization of net actuarial loss | 867 |  |  | 230 |  |  | 637 |
Amortization of net transition obligation | 14 |  |  | 4 |  |  | 10 |
Amortization of prior service cost | 10 |  |  | 3 |  |  | 7 |
Defined benefit plans, net | 1,318 |  |  | 351 |  |  | 967 |
Other comprehensive income | $ | 20,664 |  |  | $ | 5,532 |  |  | $ | 15,132 |
Schedule of changes in each component of AOCI, net of tax | The following tables present the changes in each component of AOCI, net of tax, for the three and nine months ended September 30, 2021 and 2020:
(dollars in thousands) | Investment Securities |  | Defined Benefit Plans |  | AOCI
Three Months Ended September 30, 2021 |  |  |  |  |
Balance at beginning of period | $ | 11,077 |  |  | $ | (6,151) |  |  | $ | 4,926 |
Other comprehensive income (loss) before reclassifications | (6,779) |  |  | — |  |  | (6,779) |
Reclassification adjustments from AOCI | (73) |  |  | 193 |  |  | 120 |
Total other comprehensive income (loss) | (6,852) |  |  | 193 |  |  | (6,659) |
Balance at end of period | $ | 4,225 |  |  | $ | (5,958) |  |  | $ | (1,733) |
(dollars in thousands) | Investment Securities |  | Defined Benefit Plans |  | AOCI
Three Months Ended September 30, 2020 |  |  |  |  |
Balance at beginning of period | $ | 31,247 |  |  | $ | (5,696) |  |  | $ | 25,551 |
Other comprehensive income before reclassifications | (2,515) |  |  | — |  |  | (2,515) |
Reclassification adjustments from AOCI | 258 |  |  | 247 |  |  | 505 |
Total other comprehensive income (loss) | (2,257) |  |  | 247 |  |  | (2,010) |
Balance at end of period | $ | 28,990 |  |  | $ | (5,449) |  |  | $ | 23,541 |
(dollars in thousands) | Investment Securities |  | Defined Benefit Plans |  | AOCI
Nine Months Ended September 30, 2021 |  |  |  |  |
Balance at beginning of period | $ | 26,651 |  |  | $ | (6,523) |  |  | $ | 20,128 |
Other comprehensive income before reclassifications | (22,316) |  |  | — |  |  | (22,316) |
Reclassification adjustments from AOCI | (110) |  |  | 565 |  |  | 455 |
Total other comprehensive income (loss) | (22,426) |  |  | 565 |  |  | (21,861) |
Balance at end of period | $ | 4,225 |  |  | $ | (5,958) |  |  | $ | (1,733) |
(dollars in thousands) | Investment Securities |  | Defined Benefit Plans |  | AOCI
Nine Months Ended September 30, 2020 |  |  |  |  |
Balance at beginning of period | $ | 14,825 |  |  | $ | (6,416) |  |  | $ | 8,409 |
Other comprehensive loss before reclassifications | 13,907 |  |  | 313 |  |  | 14,220 |
Reclassification adjustments from AOCI | 258 |  |  | 654 |  |  | 912 |
Total other comprehensive income (loss) | 14,165 |  |  | 967 |  |  | 15,132 |
Balance at end of period | $ | 28,990 |  |  | $ | (5,449) |  |  | $ | 23,541 |
Schedule of amounts reclassified out of each component of AOCI | The following table presents the amounts reclassified out of each component of AOCI for the three and nine months ended September 30, 2021 and 2020:
| Amount Reclassified from AOCI |  | Affected Line Item in the Statement Where Net Income is Presented
Details about AOCI Components | Three months ended September 30, |
(dollars in thousands) | 2021 |  | 2020 |
Sale of investment securities available-for-sale: |  |  |  |  |
Realized gains (losses) on securities available-for-sale | $ | 100 |  |  | $ | (352) |  |  | Investment securities gains (losses)
Tax effect | (27) |  |  | 94 |  |  | Income tax benefit (expense)
Net of tax | $ | 73 |  |  | $ | (258) |  |  |
Defined benefit retirement and supplemental executive retirement plan items: |  |  |  |  |
Amortization of net actuarial loss | $ | (259) |  |  | $ | (330) |  |  | Other operating expense - other
Amortization of net transition obligation | (5) |  |  | (5) |  |  | Other operating expense - other
Amortization of prior service cost | — |  |  | (3) |  |  | Other operating expense - other
Total before tax | (264) |  |  | (338) |  |  |
Tax effect | 71 |  |  | 91 |  |  | Income tax benefit (expense)
Net of tax | $ | (193) |  |  | $ | (247) |  |  |
Total reclassification adjustments from AOCI for the period, net of tax | $ | (120) |  |  | $ | (505) |  |  |
| Amount Reclassified from AOCI |  | Affected Line Item in the Statement Where Net Income is Presented
Details about AOCI Components | Nine months ended September 30, |
(dollars in thousands) | 2021 |  | 2020 |
Sale of investment securities available-for-sale: |  |  |  |  |
Realized gains (losses) on securities available-for-sale | $ | 150 |  |  | $ | (352) |  |  | Investment securities gains (losses)
Tax effect | (40) |  |  | 94 |  |  | Income tax benefit (expense)
Net of tax | $ | 110 |  |  | $ | (258) |  |  |
Defined benefit retirement and supplemental executive retirement plan items: |  |  |  |  |
Amortization of net actuarial loss | $ | (777) |  |  | $ | (867) |  |  | Other operating expense - other
Amortization of net transition obligation | (14) |  |  | (14) |  |  | Other operating expense - other
Amortization of prior service cost | — |  |  | (10) |  |  | Other operating expense - other
Total before tax | (791) |  |  | (891) |  |  |
Tax effect | 226 |  |  | 237 |  |  | Income tax benefit (expense)
Net of tax | $ | (565) |  |  | $ | (654) |  |  |
Total reclassification adjustments from AOCI for the period, net of tax | $ | (455) |  |  | $ | (912) |  |  |

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