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Accumulated Comprehensive Loss
 6 Months Ended
Jun. 30, 2023
Accumulated Comprehensive Loss [Abstract]  
Accumulated Comprehensive Loss
Note 9 – Accumulated Comprehensive Loss


The following tables present the changes in accumulated other comprehensive income by component, net of tax, for the three and six months ended June 30, 2023 and 2022 (in thousands):

 
Three months ended June 30, 2023
  
   
Unrealized gain (loss)
on available for sale
 securities (a)
    
Defined Benefit
Pension Items
(a)
    
Unrealized loss
on interest rate
swap (a)
    
Total
  
Balance as of March 31, 2023
  
$
(30,422
)
  
$
(1,050
)
  
$
4,710
    
$
(26,762
)
Other comprehensive income (loss) before reclassifications (net of tax)
    
(4,736
)
    
-
      
888
      
(3,848
)
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
39
      
5
      
(414
)
    
(370
)
Net current period other comprehensive income (loss)
   
(4,697
)
    
5
      
474
      
(4,218
)
Balance as of June 30, 2023
  
$
(35,119
)
  
$
(1,045
)
  
$
5,184
    
$
(30,980
)

 
Six months ended June 30, 2023
  
   
Unrealized gain (loss)
on available for sale
securities (a)
    
Defined Benefit
Pension Items
(a)
    
Unrealized loss
on interest rate
swap (a)
    
Total
  
Balance as of December 31, 2022
  
$
(37,514
)
  
$
(1,056
)
  
$
5,429
    
$
(33,141
)
Other comprehensive income before reclassifications (net of tax)
    
2,356
      
-
      
529
      
2,885
  
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
39
      
11
      
(774
)
    
(724
)
Net current period other comprehensive income (loss)
   
2,395
      
11
      
(245
)
    
2,161
  
Balance as of June 30, 2023
  
$
(35,119
)
  
$
(1,045
)
  
$
5,184
    
$
(30,980
)


 
Three months ended June 30, 2022
  
   
Unrealized gain (loss)
on available for sale
securities (a)
    
Defined Benefit
Pension Items
(a)
    
Unrealized loss
on interest rate
swap (a)
    
Total
  
Balance as of March 31, 2022
  
$
(16,276
)
  
$
(1,940
)
  
$
3,451
    
$
(14,765
)
Other comprehensive income (loss) before reclassifications (net of tax)
    
(12,652
)
    
-
      
831
      
(11,821
)
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
-
      
10
      
17
      
27
  
Net current period other comprehensive income (loss)
   
(12,652
)
    
10
      
848
      
(11,794
)
Balance as of June 30, 2022
  
$
(28,928
)
  
$
(1,930
)
  
$
4,299
    
$
(26,559
)

 
Six months ended June 30, 2022
  
   
Unrealized gain (loss)
on available for sale
securities (a)
    
Defined Benefit
Pension Items
(a)
    
Unrealized loss
on interest rate
swap (a)
    
Total
  
Balance as of December 31, 2021
  
$
304
    
$
(1,968
)
  
$
1,509
    
$
(155
)
Other comprehensive income (loss) before reclassifications (net of tax)
    
(29,232
)
    
-
      
2,741
      
(26,491
)
Amounts reclassified from accumulated other comprehensive income (loss) (net of tax)
    
-
      
38
      
49
      
87
  
Net current period other comprehensive income (loss)
   
(29,232
)
    
38
      
2,790
      
(26,404
)
Balance as of June 30, 2022
  
$
(28,928
)
  
$
(1,930
)
  
$
4,299
    
$
(26,559
)

(a) Amounts in parentheses indicate debits on the Consolidated Balance Sheet.


The following table presents the significant amounts reclassified out of each component of accumulated other comprehensive loss for the three and six months ended June 30, 2023 and 2022 (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
 
  
Three Months Ended June 30,
  
 
 
  
2023
    
2022
  
 
Unrealized gains and losses on available for sale securities
            
           
   
$
(51
)
  
$
-
  
Available for sale securities gains, net
     
12
      
-
  
Provision for income taxes
   
$
(39
)
  
$
-
  
Net of tax
Defined benefit pension items
                                    
 
  
$
(7
)
  
$
(12
)
Other expenses
 
    
2
      
2
  
Provision for income taxes
 
  
$
(5
)
  
$
(10
)
Net of tax
                                          
Unrealized gain (loss) on interest rate swap
   $ 524     $ (21 )
Interest expense
      (110 )     4  
Provision for income taxes
    $ 414     $ (17 )
Net of tax
                                  
Total reclassifications
  
$
370
    
$
(27
)
 

Six Months Ended June 30,
 
  
2023
    
2022
  
 
Unrealized gains and losses on available for sale securities
            
             
   
$
(51
)
  
$
-
  
Available for sale securities gains, net
     
12
      
-
  
Provision for income taxes
   
$
(39
)
  
$
-
  
Net of tax
Defined benefit pension items
                                        
 
  
$
(14
)
  
$
(48
)
Other expenses
 
    
3
      
10
  
Provision for income taxes
 
  
$
(11
)
  
$
(38
)
Net of tax
                                  
Unrealized gain (loss) on interest rate swap   $ 980
  $ (62 )
Interest expense
      (206 )     13  
Provision for income taxes
    $ 774     $ (49 )
Net of tax
                                               
Total reclassifications
  
$
724
    
$
(87
)
 

(a) Amounts in parentheses indicate expenses and other amounts indicate income on the Consolidated Statement of Income