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Note 12 - Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

NOTE 12 – ACCUMULATED OTHER COMPREHENSIVE LOSS

Changes in accumulated other comprehensive loss for the three and nine months ended September 30, 2024 and 2023 were as follows (in thousands):

		Three Months Ended September 30,												Nine Months Ended September 30,
						Changes in												Changes in
		Unrealized				Pension Plan								Unrealized				Pension Plan
		Losses on				Assets and								Losses on				Assets and
		Available-for-				Benefit								Available-for-				Benefit
		Sale Debt Securities				Obligations				Total				Sale Debt Securities				Obligations				Total
2024
Balance at beginning of period		$	(22,794	)			(55	)			(22,849	)			(22,281	)			(55	)			(22,336	)
Other comprehensive income (loss), net of taxes			7,069				—				7,069				6,387				—				6,387
Reclassifications			—				—				—				169				—				169
Balance at end of period		$	(15,725	)			(55	)			(15,780	)			(15,725	)			(55	)			(15,780	)
2023
Balance at beginning of period		$	(27,744	)			(27	)			(27,771	)			(29,927	)			(27	)			(29,954	)
Other comprehensive (loss) income, net of taxes			(2,941	)			—				(2,941	)			(758	)			—				(758	)
Balance at end of period		$	(30,685	)			(27	)			(30,712	)			(30,685	)			(27	)			(30,712	)

Reclassifications out of accumulated other comprehensive loss during the three and nine months ended September 30, 2024 and 2023 and the affected line items in the condensed consolidated statements of income were as follows (in thousands):

		Three Months Ended								Nine Months Ended							Affected Line Item in the
		September 30,								September 30,							Consolidated Condensed
		2024				2023				2024				2023			Statements of Income
Realized losses from sales of debt securities, available-for-sale		$	—				—				(214	)			—		Net losses from sales of debt securities, available-for-sale
Income tax benefit			—				—				(45	)			—		Provision for income taxes
Reclassification adjustment, net of taxes		$	—				—				(169	)			—

X

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/220/tableOfContent

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X

- References

No definition available.

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