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Accumulated Other Comprehensive Income (Loss)
3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income
The following table summarizes the changes in AOCI by component for the:
Three Months Ended March 31
20232022
Unrealized
Gains
(Losses) on
AFS
Securities
Defined
Benefit
Pension Plan
TotalUnrealized
Gains
(Losses) on
AFS
Securities
Defined
Benefit
Pension Plan
Total
Balance, January 1$(35,828)$(1,366)$(37,194)$3,873 $(2,014)$1,859 
OCI before reclassifications8,610 — 8,610 (22,928)— (22,928)
Amounts reclassified from AOCI(1)— (1)— — — 
Subtotal8,609 — 8,609 (22,928)— (22,928)
Tax effect(1,729)— (1,729)4,736 — 4,736 
OCI, net of tax6,880 — 6,880 (18,192)— (18,192)
Balance, March 31$(28,948)$(1,366)$(30,314)$(14,319)$(2,014)$(16,333)
Included in OCI for the three-month periods ended March 31, 2023 and 2022 are changes in unrealized gains and losses related to auction rate money market preferred stocks. These investments, for federal income tax purposes, have no deferred federal income taxes related to unrealized gains or losses given the nature of the investments.
A summary of the components of unrealized gains on AFS securities included in OCI follows for the:
 Three Months Ended March 31
 20232022
Auction Rate Money Market Preferred StocksAll Other AFS SecuritiesTotalAuction Rate Money Market Preferred StocksAll Other AFS SecuritiesTotal
Unrealized gains (losses) arising during the period$374 $8,236 $8,610 $(375)$(22,553)$(22,928)
Reclassification adjustment for net (gains) losses included in net income— (1)(1)— — — 
Net unrealized gains (losses)374 8,235 8,609 (375)(22,553)(22,928)
Tax effect— (1,729)(1,729)— 4,736 4,736 
Unrealized gains (losses), net of tax$374 $6,506 $6,880 $(375)$(17,817)$(18,192)