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Note 12 - Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 12. 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 March 31, 2024*
		*Unrealized*
		*Losses on Available-*
		*for-Sale Securities*				*Employee Benefit Plans*				*Total*
(Amounts in thousands)
Beginning balance		$	(11,126	)		$	175			$	(10,951	)
Other comprehensive loss before reclassifications			(948	)			(7	)			(955	)
Reclassified from AOCI			-				7				7
Other comprehensive loss, net			(948	)			-				(948	)
Ending balance		$	(12,074	)		$	175			$	(11,899	)

		*Three Months Ended March 31, 2023*
		*Unrealized*
		*Losses on Available-*
		*for-Sale Securities*				*Employee Benefit Plans*				*Total*
(Amounts in thousands)
Beginning balance		$	(15,621	)		$	(98	)		$	(15,719	)
Other comprehensive income before reclassifications			2,499				(26	)			2,473
Reclassified from AOCI			(5	)			26				21
Other comprehensive income, net			2,494				-				2,494
Ending balance		$	(13,127	)		$	(98	)		$	(13,225	)

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

		*Three Months Ended*
		*March 31,*							*Income Statement*
(Amounts in thousands)		*2024*				*2023*			*Line Item Affected*
Available-for-sale securities
Gain recognized		$	-			$	(7	)	Net loss on sale of securities
Reclassified out of AOCI, before tax			-				(7	)	Income before income taxes
Income tax expense			-				(2	)	Income tax expense
Reclassified out of AOCI, net of tax			-				(5	)	Net income
Employee benefit plans
Amortization of prior service cost		$	-			$	-		Salaries and employee benefits
Amortization of net actuarial benefit cost			9				33		Salaries and employee benefits
Reclassified out of AOCI, before tax			9				33		Income before income taxes
Income tax expense			2				7		Income tax expense
Reclassified out of AOCI, net of tax			7				26		Net income
Total reclassified out of AOCI, net of tax		$	7			$	21		Net income

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