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Accumulated Other Comprehensive Income (Loss)
3 Months Ended
Mar. 31, 2024
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
20242023
Unrealized
Gains
(Losses) on
AFS
Securities
Defined
Benefit
Pension Plan
TotalUnrealized
Gains
(Losses) on
AFS
Securities
Defined
Benefit
Pension Plan
Total
Balance, January 1$(25,199)$(697)$(25,896)$(35,828)$(1,366)$(37,194)
OCI before reclassifications(2,926)— (2,926)8,610 — 8,610 
Amounts reclassified from AOCI— — — (1)— (1)
Subtotal(2,926)— (2,926)8,609 — 8,609 
Tax effect632 — 632 (1,729)— (1,729)
OCI, net of tax(2,294)— (2,294)6,880 — 6,880 
Balance, March 31$(27,493)$(697)$(28,190)$(28,948)$(1,366)$(30,314)
Included in OCI for the three-month periods ended March 31, 2024 and 2023 are changes in unrealized gains and losses related to certain 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
 20242023
Auction Rate Money Market Preferred StocksAll Other AFS SecuritiesTotalAuction Rate Money Market Preferred StocksAll Other AFS SecuritiesTotal
Unrealized gains (losses) arising during the period$82 $(3,008)$(2,926)$374 $8,236 $8,610 
Reclassification adjustment for net (gains) losses included in net income— — — — (1)(1)
Net unrealized gains (losses)82 (3,008)(2,926)374 8,235 8,609 
Tax effect— 632 632 — (1,729)(1,729)
Unrealized gains (losses), net of tax$82 $(2,376)$(2,294)$374 $6,506 $6,880