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Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended
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Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Components of Other Comprehensive Income (Loss) | The following table presents the components of other comprehensive income (loss) for the years ended December 31 (in thousands):
|  | Pre-tax Amount |  |  | Tax Effect |  |  | Net-of-tax Amount |
2021 |  |  |  |  |  |  |  |  |
Securities available for sale and transferred securities: |  |  |  |  |  |  |  |  |
Change in unrealized gain (loss) during the year |  | $ | (26,643 | ) |  | $ | (6,826 | ) |  | $ | (19,817 | )
Reclassification adjustment for net gains included in net income (1) |  |  | 139 |  |  |  | 36 |  |  |  | 103 |
Total securities available for sale and transferred securities |  |  | (26,504 | ) |  |  | (6,790 | ) |  |  | (19,714 | )
Hedging derivative instruments: |  |  |  |  |  |  |  |  |
Change in unrealized gain (loss) during the year |  |  | 1,984 |  |  |  | 508 |  |  |  | 1,476 |
Pension and post-retirement obligations: |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) arising during the year |  |  | 3,162 |  |  |  | 810 |  |  |  | 2,352 |
Amortization of net actuarial loss and prior service cost included in income |  |  | 741 |  |  |  | 190 |  |  |  | 551 |
Total pension and post-retirement obligations |  |  | 3,903 |  |  |  | 1,000 |  |  |  | 2,903 |
Other comprehensive loss |  | $ | (20,617 | ) |  | $ | (5,282 | ) |  | $ | (15,335 | )
2020 |  |  |  |  |  |  |  |  |
Securities available for sale and transferred securities: |  |  |  |  |  |  |  |  |
Change in unrealized gain (loss) during the year |  | $ | 19,928 |  |  | $ | 5,106 |  |  | $ | 14,822 |
Reclassification adjustment for net gains included in net income (1) |  |  | (1,281 | ) |  |  | (329 | ) |  |  | (952 | )
Total securities available for sale and transferred securities |  |  | 18,647 |  |  |  | 4,777 |  |  |  | 13,870 |
Hedging derivative instruments: |  |  |  |  |  |  |  |  |
Change in unrealized gain (loss) during the year |  |  | 271 |  |  |  | 69 |  |  |  | 202 |
Pension and post-retirement obligations: |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) arising during the year |  |  | 2,201 |  |  |  | 565 |  |  |  | 1,636 |
Amortization of net actuarial loss and prior service cost included in income |  |  | 1,254 |  |  |  | 321 |  |  |  | 933 |
Total pension and post-retirement obligations |  |  | 3,455 |  |  |  | 886 |  |  |  | 2,569 |
Other comprehensive income |  | $ | 22,373 |  |  | $ | 5,732 |  |  | $ | 16,641 |
2019 |  |  |  |  |  |  |  |  |
Securities available for sale and transferred securities: |  |  |  |  |  |  |  |  |
Change in unrealized gain (loss) during the year |  | $ | 13,648 |  |  | $ | 3,456 |  |  | $ | 10,192 |
Reclassification adjustment for net gains included in net income (1) |  |  | (1,176 | ) |  |  | (307 | ) |  |  | (869 | )
Total securities available for sale and transferred securities |  |  | 12,472 |  |  |  | 3,149 |  |  |  | 9,323 |
Hedging derivative instruments: |  |  |  |  |  |  |  |  |
Change in unrealized gain (loss) during the year |  |  | (327 | ) |  |  | (85 | ) |  |  | (242 | )
Pension and post-retirement obligations: |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) arising during the year |  |  | (879 | ) |  |  | (303 | ) |  |  | (576 | )
Amortization of net actuarial loss and prior service cost included in income |  |  | 1,398 |  |  |  | 352 |  |  |  | 1,046 |
Total pension and post-retirement obligations |  |  | 519 |  |  |  | 49 |  |  |  | 470 |
Other comprehensive income |  | $ | 12,664 |  |  | $ | 3,113 |  |  | $ | 9,551 |
(1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. (1
Components of Accumulated Other Comprehensive Income (Loss) | Activity in accumulated other comprehensive income (loss), net of tax, was as follows (in thousands):
|  | Hedging Derivative Instruments |  |  | Securities Available for Sale and Transferred Securities |  |  | Pension and Post- retirement Obligations |  |  | Accumulated Other Comprehensive Income (Loss) |
Balance at January 1, 2021 |  | $ | (316 | ) |  | $ | 14,743 |  |  | $ | (12,299 | ) |  | $ | 2,128 |
Other comprehensive income (loss) before reclassifications |  |  | 1,476 |  |  |  | (19,817 | ) |  |  | 2,352 |  |  |  | (15,989 | )
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | - |  |  |  | 103 |  |  |  | 551 |  |  |  | 654 |
Net current period other comprehensive income (loss) |  |  | 1,476 |  |  |  | (19,714 | ) |  |  | 2,903 |  |  |  | (15,335 | )
Balance at December 31, 2021 |  | $ | 1,160 |  |  | $ | (4,971 | ) |  | $ | (9,396 | ) |  | $ | (13,207 | )
Balance at January 1, 2020 |  | $ | (518 | ) |  | $ | 873 |  |  | $ | (14,868 | ) |  | $ | (14,513 | )
Other comprehensive income (loss) before reclassifications |  |  | 202 |  |  |  | 14,822 |  |  |  | 1,636 |  |  |  | 16,660 |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | - |  |  |  | (952 | ) |  |  | 933 |  |  |  | (19 | )
Net current period other comprehensive income |  |  | 202 |  |  |  | 13,870 |  |  |  | 2,569 |  |  |  | 16,641 |
Balance at December 31, 2020 |  | $ | (316 | ) |  | $ | 14,743 |  |  | $ | (12,299 | ) |  | $ | 2,128 |
Balance at January 1, 2019 |  | $ | (276 | ) |  | $ | (7,769 | ) |  | $ | (13,236 | ) |  | $ | (21,281 | )
Reclassification adjustment for net gains included in net income |  |  | - |  |  |  | (681 | ) |  |  | (2,102 | ) |  |  | (2,783 | )
Other comprehensive income (loss) before reclassifications |  |  | (242 | ) |  |  | 10,192 |  |  |  | (576 | ) |  |  | 9,374 |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | - |  |  |  | (869 | ) |  |  | 1,046 |  |  |  | 177 |
Net current period other comprehensive (loss) income |  |  | (242 | ) |  |  | 9,323 |  |  |  | 470 |  |  |  | 9,551 |
Balance at December 31, 2019 |  | $ | (518 | ) |  | $ | 873 |  |  | $ | (14,868 | ) |  | $ | (14,513 | )
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) | The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the years ended December 31 (in thousands):
Details About Accumulated Other Comprehensive Income (Loss) Components |  | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) |  |  | Affected Line Item in the Consolidated Statement of Income
|  | 2021 |  |  | 2020 |  |  |
Realized gain (loss) on sale of investment securities |  | $ | 71 |  |  | $ | 1,599 |  |  | Net gain on investment securities
Amortization of unrealized holding gains (losses) on investment securities transferred from available for sale to held to maturity |  |  | (210 | ) |  |  | (318 | ) |  | Interest income
|  |  | (139 | ) |  |  | 1,281 |  |  | Total before tax
|  |  | 36 |  |  |  | (329 | ) |  | Income tax benefit (expense)
|  |  | (103 | ) |  |  | 952 |  |  | Net of tax
Amortization of pension and post-retirement items: |  |  |  |  |  |  |  |
Prior service credit (1) |  |  | 3 |  |  |  | 34 |  |  | Salaries and employee benefits
Net actuarial losses (1) |  |  | (744 | ) |  |  | (1,288 | ) |  | Salaries and employee benefits
|  |  | (741 | ) |  |  | (1,254 | ) |  | Total before tax
|  |  | 190 |  |  |  | 321 |  |  | Income tax benefit
|  |  | (551 | ) |  |  | (933 | ) |  | Net of tax
Total reclassified for the period |  | $ | (654 | ) |  | $ | 19 |  |  |
(1) These items are included in the computation of net periodic pension expense. See Note 21 – Employee Benefit Plans for additional information.

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