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Accumulated Other Comprehensive (Loss) Income | 12 Months Ended
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Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Accumulated Other Comprehensive (Loss) Income | 7.) ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME The following table presents the components of other comprehensive loss for the years ended December 31 (in thousands):
|  | Pre-tax Amount |  |  | Tax Effect |  |  | Net-of-tax Amount |
2022 |  |  |  |  |  |  |  |  |
Securities available for sale and transferred securities: |  |  |  |  |  |  |  |  |
Change in unrealized gain (loss) during the year |  | $ | (166,380 | ) |  | $ | (42,630 | ) |  | $ | (123,750 | )
Reclassification adjustment for net gains included in net income (1) |  |  | 117 |  |  |  | 30 |  |  |  | 87 |
Total securities available for sale and transferred securities |  |  | (166,263 | ) |  |  | (42,600 | ) |  |  | (123,663 | )
Hedging derivative instruments: |  |  |  |  |  |  |  |  |
Change in unrealized gain (loss) during the year |  |  | 4,807 |  |  |  | 1,232 |  |  |  | 3,575 |
Pension and post-retirement obligations: |  |  |  |  |  |  |  |  |
Net actuarial gain (loss) arising during the year |  |  | (5,932 | ) |  |  | (1,520 | ) |  |  | (4,412 | )
Amortization of net actuarial loss and prior service cost included in income |  |  | 296 |  |  |  | 76 |  |  |  | 220 |
Total pension and post-retirement obligations |  |  | (5,636 | ) |  |  | (1,444 | ) |  |  | (4,192 | )
Other comprehensive loss |  | $ | (167,092 | ) |  | $ | (42,812 | ) |  | $ | (124,280 | )
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 |
(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. (17.) ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Continued) Activity in accumulated other comprehensive (loss) income, 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, 2022 |  | $ | 1,160 |  |  | $ | (4,971 | ) |  | $ | (9,396 | ) |  | $ | (13,207 | )
Other comprehensive income (loss) before reclassifications |  |  | 3,575 |  |  |  | (123,750 | ) |  |  | (4,412 | ) |  |  | (124,587 | )
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | - |  |  |  | 87 |  |  |  | 220 |  |  |  | 307 |
Net current period other comprehensive income (loss) |  |  | 3,575 |  |  |  | (123,663 | ) |  |  | (4,192 | ) |  |  | (124,280 | )
Balance at December 31, 2022 |  | $ | 4,735 |  |  | $ | (128,634 | ) |  | $ | (13,588 | ) |  | $ | (137,487 | )
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 (loss) income |  |  | - |  |  |  | (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 |
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
|  | 2022 |  |  | 2021 |  |  |
Realized (loss) gain on sale of investment securities |  | $ | (15 | ) |  | $ | 71 |  |  | Net gain on investment securities
Amortization of unrealized holding losses on investment securities transferred from available for sale to held to maturity |  |  | (102 | ) |  |  | (210 | ) |  | Interest income
|  |  | (117 | ) |  |  | (139 | ) |  | Total before tax
|  |  | 30 |  |  |  | 36 |  |  | Income tax benefit
|  |  | (87 | ) |  |  | (103 | ) |  | Net of tax
Amortization of pension and post-retirement items: |  |  |  |  |  |  |  |
Prior service credit (1) |  |  | - |  |  |  | 3 |  |  | Salaries and employee benefits
Net actuarial losses (1) |  |  | (296 | ) |  |  | (744 | ) |  | Salaries and employee benefits
|  |  | (296 | ) |  |  | (741 | ) |  | Total before tax
|  |  | 76 |  |  |  | 190 |  |  | Income tax benefit
|  |  | (220 | ) |  |  | (551 | ) |  | Net of tax
Total reclassified for the period |  | $ | (307 | ) |  | $ | (654 | ) |  |
(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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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI https://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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