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Note 13 - Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 13. Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in accumulated other comprehensive income (loss) (“AOCI”), net of tax and by component, during the periods indicated:

		*Three Months Ended September 30, 2022*
		*Unrealized Gains*
		*(Losses) on Available-*
		*for-Sale Securities*				*Employee Benefit Plans*				*Total*
(Amounts in thousands)
Beginning balance		$	(9,817	)		$	(1,843	)		$	(11,660	)
Other comprehensive loss before reclassifications			(7,392	)			-				(7,392	)
Reclassified from AOCI			-				27				27
Other comprehensive loss, net			(7,392	)			27				(7,365	)
Ending balance		$	(17,209	)		$	(1,816	)		$	(19,025	)

		*Three Months Ended September 30, 2021*
		*Unrealized Gains*
		*(Losses) on Available-*
		*for-Sale Securities*				*Employee Benefit Plans*				*Total*
(Amounts in thousands)
Beginning balance		$	474			$	(3,039	)		$	(2,565	)
Other comprehensive loss before reclassifications			(164	)			(1	)			(165	)
Reclassified from AOCI			-				77				77
Other comprehensive loss, net			(164	)			76				(88	)
Ending balance		$	310			$	(2,963	)		$	(2,653	)

		*Nine Months Ended September 30, 2022*
		*Unrealized Gains*
		*(Losses) on Available-*
		*for-Sale Securities*				*Employee Benefit Plans*				*Total*
(Amounts in thousands)
Beginning balance		$	15			$	(1,561	)		$	(1,546	)
Other comprehensive loss before reclassifications			(17,224	)			(335	)			(17,559	)
Reclassified from AOCI			-				80				80
Other comprehensive loss, net			(17,224	)			(255	)			(17,479	)
Ending balance		$	(17,209	)		$	(1,816	)		$	(19,025	)

		*Nine Months Ended September 30, 2021*
		*Unrealized Gains*
		*(Losses) on Available-*
		*for-Sale Securities*				*Employee Benefit Plans*				*Total*
(Amounts in thousands)
Beginning balance		$	1,106			$	(3,029	)		$	(1,923	)
Other comprehensive loss before reclassifications			(796	)			(163	)			(959	)
Reclassified from AOCI			-				229				229
Other comprehensive loss, net			(796	)			66				(730	)
Ending balance		$	310			$	(2,963	)		$	(2,653	)

The following table presents reclassifications out of AOCI, by component, during the periods indicated:

		*Three Months Ended*								*Nine Months Ended*
		*September 30,*								*September 30,*							*Income Statement*
(Amounts in thousands)		*2022*				*2021*				*2022*				*2021*			*Line Item Affected*
Available-for-sale securities
Gain recognized		$	-			$	-			$	-			$	-		Net loss on sale of securities
Reclassified out of AOCI, before tax			-				-				-				-		Income before income taxes
Income tax expense			-				-				-				-		Income tax expense
Reclassified out of AOCI, net of tax			-				-				-				-		Net income
Employee benefit plans
Amortization of prior service cost		$	-			$	31			$	-			$	92		Salaries and employee benefits
Amortization of net actuarial benefit cost			34				65				101				197		Salaries and employee benefits
Reclassified out of AOCI, before tax			34				96				101				289		Income before income taxes
Income tax expense			7				20				21				61		Income tax expense
Reclassified out of AOCI, net of tax			27				76				80				228		Net income
Total reclassified out of AOCI, net of tax		$	27			$	76			$	80			$	228		Net income

(1)	Amortization is included in net periodic pension cost. See Note 10, "Employee Benefit Plans."