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Accumulated Other Comprehensive Loss
 3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Loss [Abstract]  
Accumulated Other Comprehensive Loss


‎

Note 9 – Accumulated Other Comprehensive Loss

The following table presents the changes in each component of accumulated other comprehensive loss for the 12 months ended December 31, 2020, the three months ended March 31, 2021:

(in thousands)

Investment
‎securities-
‎with OTTI
‎AFS

Investment
‎securities-
‎all other
‎AFS

Investment
‎securities-
‎HTM

Cash Flow
‎Hedge

Pension
‎Plan

SERP

Total

Accumulated OCL, net:

Balance - January 1, 2020

$

(2,542)

$

(853)

$

(899)

$

(85)

$

(20,417)

$

(1,175)

$

(25,971)

Other comprehensive
‎  income/(loss) before
‎  reclassifications

(587)

1,291

—

(869)

(3,262)

(625)

(4,052)

Amounts reclassified from
‎  accumulated other
‎  comprehensive loss

(148)

(463)

584

—

1,049

138

1,160

Balance - December 31, 2020

$

(3,277)

$

(25)

$

(315)

$

(954)

$

(22,630)

$

(1,662)

$

(28,863)

Other comprehensive
‎  income/(loss) before
‎  reclassifications

266

(5,202)

—

405

(139)

—

(4,670)

Amounts reclassified from
‎  accumulated other
‎  comprehensive loss

(37)

—

45

—

272

55

335

Balance - March 31, 2021

$

(3,048)

$

(5,227)

$

(270)

$

(549)

$

(22,497)

$

(1,607)

$

(33,198)

The following tables present the components of other comprehensive income/(loss) for the three month periods ended

March 31, 2021 and 2020:

Components of Other Comprehensive Loss
‎(in thousands)

Before
‎Tax
‎Amount

Tax
‎(Expense)
‎Benefit

Net

For the three months ended March 31, 2021

Available for sale (AFS) securities with OTTI:

Unrealized holding gains

$

363

$

(97)

$

266

Less: accretable yield recognized in income

50

(13)

37

Net unrealized gains on investments with OTTI

313

(84)

229

Available for sale securities – all other:

Unrealized holding losses

(7,105)

1,903

(5,202)

Less: gains recognized in income

—

—

—

Net unrealized losses on all other AFS securities

(7,105)

1,903

(5,202)

Held to maturity securities:

Less: gains recognized in income

—

—

—

Less: amortization recognized in income

(61)

16

(45)

Net unrealized gains on HTM securities

61

(16)

45

Cash flow hedges:

Unrealized holding gains

532

(127)

405

Pension Plan:

Unrealized net actuarial loss

(190)

51

(139)

Less: amortization of unrecognized loss

(372)

100

(272)

Net pension plan liability adjustment

182

(49)

133

SERP:

Unrealized net actuarial loss

—

—

—

Less: amortization of unrecognized loss

(75)

19

(56)

Less: amortization of prior service costs

1

—

1

Net SERP liability adjustment

74

(19)

55

Other comprehensive loss

$

(5,943)

$

1,608

$

(4,335)


‎

Components of Other Comprehensive Loss
‎(in thousands)

Before
‎Tax
‎Amount

Tax
‎(Expense)
‎Benefit

Net

For the three months ended March 31, 2020

Available for sale (AFS) securities with OTTI:

Unrealized holding losses

$

(1,623)

$

435

$

(1,188)

Less: accretable yield recognized in income

50

(13)

37

Net unrealized losses on investments with OTTI

(1,673)

448

(1,225)

Available for sale securities – all other:

Unrealized holding gains

1,890

(506)

1,384

Less: gains recognized in income

—

—

—

Net unrealized gains on all other AFS securities

1,890

(506)

1,384

Held to maturity securities:

Unrealized holding gains

—

—

—

Less: amortization recognized in income

(72)

19

(53)

Net unrealized gains on HTM securities

72

(19)

53

Cash flow hedges:

Unrealized holding losses

(1,315)

352

(963)

Pension Plan:

Unrealized net actuarial loss

(7,070)

1,893

(5,177)

Less: amortization of unrecognized loss

(358)

96

(262)

Net pension plan liability adjustment

(6,712)

1,797

(4,915)

SERP:

Unrealized net actuarial loss

—

—

—

Less: amortization of unrecognized loss

(47)

12

(35)

Less: amortization of prior service costs

1

—

1

Net SERP liability adjustment

46

(12)

34

Other comprehensive loss

$

(7,692)

$

2,060

$

(5,632)


‎

The following table presents the details of amounts reclassified from accumulated other comprehensive loss for the three month periods ended March 31, 2021 and 2020:

Amounts Reclassified from

Three Months Ended

Accumulated Other Comprehensive Loss

March 31,

Affected Line Item in the Statement

(in thousands)

2021

2020

Where Net Income is Presented

Net unrealized gains on available for sale investment securities with OTTI:

Accretable yield

50

50

Interest income on taxable investment securities

Taxes

(13)

(13)

Provision for income tax expense

$

37

$

37

Net of tax

Net unrealized losses on held to maturity securities:

Amortization

$

(61)

$

(72)

Interest income on taxable investment securities

Gains on calls

—

—

Net gains

Taxes

16

19

Provision for income tax expense

$

(45)

$

(53)

Net of tax

Net pension plan liability adjustment:

Amortization of unrecognized loss

$

(372)

$

(358)

Other Expense

Taxes

100

96

Provision for income tax expense

$

(272)

$

(262)

Net of tax

Net SERP liability adjustment:

Amortization of unrecognized loss

$

(75)

$

(47)

Other Expense

Amortization of prior service costs

1

1

Salaries and employee benefits

Taxes

19

12

Provision for income tax expense

$

(55)

$

(34)

Net of tax

Total reclassifications for the period

$

(335)

$

(312)

Net of tax