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OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 12 Months Ended
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Dec. 31, 2020
OTHER COMPREHENSIVE INCOME (LOSS) [Abstract] |
Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax | The components of accumulated other comprehensive income (loss), net of tax, as of December 31, were as follows (in thousands):
|  | 2020 |  |  | 2019 |
Net unrealized gain on securities available for sale |  | $ | 7,668 |  |  | $ | 2,899 |
Tax effect |  |  | (1,610 | ) |  |  | (609 | )
Net -of-tax amount |  |  | 6,058 |  |  |  | 2,290 |
Unrealized loss on interest rate swap |  |  | (11 | ) |  |  | - |
Tax effect |  |  | 2 |  |  |  | - |
Net -of-tax amount |  |  | (9 | ) |  |  | - |
Unrecognized pension costs |  |  | (4,383 | ) |  |  | (3,695 | )
Tax effect |  |  | 921 |  |  |  | 776 |
Net -of-tax amount |  |  | (3,462 | ) |  |  | (2,919 | )
Total accumulated other comprehensive income (loss) |  | $ | 2,587 |  |  | $ | (629 | )
The following tables present the changes in accumulated other comprehensive income (loss) by component net of tax for the years ended December 31, 2020, 2019 and 2018 (in thousands):
|  | Unrealized gain (loss) on available for sale securities (a) |  |  | Unrealized gain (loss) on interest rate swap (a) |  |  | Defined Benefit Pension Items (a) |  |  | Total |
Balance as of December 31, 2017 |  | $ | (269 | ) |  | $ | - |  |  | $ | (3,129 | ) |  | $ | (3,398 | )
Change in Accounting policy for equity securities |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  | 1 |
Other comprehensive income (loss) before reclassifications (net of tax) |  |  | (720 | ) |  |  | - |  |  |  | 34 |  |  |  | (686 | )
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax) |  |  | 15 |  |  |  | - |  |  |  | 147 |  |  |  | 162 |
Net current period other comprehensive income (loss) |  |  | (705 | ) |  |  | - |  |  |  | 181 |  |  |  | (524 | )
Balance as of December 31, 2018 |  | $ | (973 | ) |  | $ | - |  |  | $ | (2,948 | ) |  | $ | (3,921 | )
Balance as of December 31, 2018 |  | $ | (973 | ) |  | $ | - |  |  | $ | (2,948 | ) |  | $ | (3,921 | )
Other comprehensive income (loss) before reclassifications (net of tax) |  |  | 3,283 |  |  |  | - |  |  |  | (186 | ) |  |  | 3,097 |
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax) |  |  | (20 | ) |  |  | - |  |  |  | 215 |  |  |  | 195 |
Net current period other comprehensive income (loss) |  |  | 3,263 |  |  |  | - |  |  |  | 29 |  |  |  | 3,292 |
Balance as of December 31, 2019 |  | $ | 2,290 |  |  | $ | - |  |  | $ | (2,919 | ) |  | $ | (629 | )
Balance as of December 31, 2019 |  | $ | 2,290 |  |  | $ | - |  |  | $ | (2,919 | ) |  | $ | (629 | )
Other comprehensive income (loss) before reclassifications (net of tax) |  |  | 4,008 |  |  |  | (9 | ) |  |  | (727 | ) |  |  | 3,272 |
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax) |  |  | (240 | ) |  |  | - |  |  |  | 184 |  |  |  | (56 | )
Net current period other comprehensive income (loss) |  |  | 3,768 |  |  |  | (9 | ) |  |  | (543 | ) |  |  | 3,216 |
Balance as of December 31, 2020 |  | $ | 6,058 |  |  | $ | (9 | ) |  | $ | (3,462 | ) |  | $ | 2,587 |
(a) Amounts in parentheses indicate debits
Significant Amounts Reclassified out of each Component of Accumulated Other Comprehensive Loss | The following table presents the significant amounts reclassified out of each component of accumulated other comprehensive loss for the years ended December 31, 2020, 2019 and 2018 (in thousands):
Details about accumulated other comprehensive income (loss) |  | Amount reclassified from accumulated comprehensive income (loss) (a) |  | Affected line item in the Consolidated Statement of Income
|  | December 31, |  |
|  | 2020 |  |  | 2019 |  |  | 2018 |  |
Unrealized gains and losses on available for sale securities |  |  |  |  |  |  |  |  |  |
|  | $ | 305 |  |  | $ | 24 |  |  | $ | (19 | ) | Available for sale securities gains, net
|  |  | (65 | ) |  |  | (4 | ) |  |  | 4 |  | Provision for income taxes
|  | $ | 240 |  |  | $ | 20 |  |  | $ | (15 | ) |
Defined benefit pension items |  |  |  |  |  |  |  |  |  |  |  |  |
|  | $ | (233 | ) |  | $ | (272 | ) |  | $ | (186 | ) | Other expenses
|  |  | 49 |  |  |  | 57 |  |  |  | 39 |  | Provision for income taxes
|  | $ | (184 | ) |  | $ | (215 | ) |  | $ | (147 | ) |
Total reclassifications |  | $ | 56 |  |  | $ | (195 | ) |  | $ | (162 | ) |
(a) Amounts in parentheses indicate debits to net income

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