Change in Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2022

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Change in Accumulated Other Comprehensive Income

NOTE 10. Change in Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) includes unrealized gains and losses on available for sale securities and changes in benefit obligations and plan assets for the post retirement benefit plan. Changes to accumulated other comprehensive income (loss) are presented net of their tax effect as a component of equity. Reclassifications out of accumulated other comprehensive income (loss) are recorded in the Consolidated Statements of Income either as a gain or loss.

Changes to accumulated other comprehensive income (loss) by component are shown in the following table for the periods indicated:


	Three Months Ended
	September 30,
	2022								2021
	Unrealized Gains and Losses on Available for Sale Securities			Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan		Total			Unrealized Gains and Losses on Available for Sale Securities			Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan		Total
	(dollars in thousands)								(dollars in thousands)
July 1	$	(16,775	)	$	19	$	(16,756	)	$	1,103		$	19	$	1,122
Other comprehensive (loss) before reclassifications		(6,401	)		—		(6,401	)		(47	)		—		(47	)
Reclassifications		737			—		737			—			—		—
Tax effect of current period changes		1,189			—		1,189			10			—		10
Current period changes net of taxes		(4,475	)		—		(4,475	)		(37	)		—		(37	)
September 30	$	(21,250	)	$	19	$	(21,231	)	$	1,066		$	19	$	1,085


	Nine Months Ended
	September 30,
	2022								2021
	Unrealized Gains and Losses on Available for Sale Securities			Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan		Total			Unrealized Gains and Losses on Available for Sale Securities			Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan		Total
	(dollars in thousands)								(dollars in thousands)
January 1	$	(174	)	$	19	$	(155	)	$	3,260		$	19	$	3,279
Other comprehensive (loss) before reclassifications		(27,416	)		—		(27,416	)		(2,753	)		—		(2,753	)
Reclassifications		737			—		737			(24	)		—		(24	)
Tax effect of current period changes		5,603			—		5,603			583			—		583
Current period changes net of taxes		(21,076	)		—		(21,076	)		(2,194	)		—		(2,194	)
September 30	$	(21,250	)	$	19	$	(21,231	)	$	1,066		$	19	$	1,085

For the three and nine months ended September 30, 2022, $(737) thousand was reclassified out of accumulated other comprehensive income (loss) and appeared as loss on sale of securities in the Consolidated Statements of Income. For the three and nine months ended September 30, 2021, zero and $24 thousand, respectively, were reclassified out of accumulated other comprehensive income (loss) and appeared as gain on sale of securities in the Consolidated Statements of Income. For the three and nine months ended September 30, 2022, the tax related to these reclassifications was $155 thousand, which is included in income tax expense in the Consolidated Statements of Income. For the three and nine months ended September 30, 2021, the tax related to these reclassifications was zero and $5 thousand, respectively, which is included in income tax expense in the Consolidated Statements of Income.