Change in Accumulated Other Comprehensive (Loss)

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Change in Accumulated Other Comprehensive Income (Loss)

NOTE 22. Change in Accumulated Other Comprehensive (Loss)

Accumulated other comprehensive (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 (loss) are presented net of tax as a component of equity. Reclassifications out of accumulated other comprehensive (loss) are recorded in the Consolidated Statements of Income either as a gain or loss.

Changes to accumulated other comprehensive (loss) by components are shown in the following tables for the years ended December 31, 2023 and 2022:


	Twelve Months Ended
	December 31,
	2023									2022
	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	$	(20,465	)	$	19		$	(20,446	)	$	(174	)	$	19	$	(155	)
Other comprehensive income (loss) before reclassifications		3,095			(8	)		3,087			(26,422	)		—		(26,422	)
Reclassifications from other comprehensive (loss)		—			—			—			737			—		737
Tax effect of current period changes		(650	)		3			(647	)		5,394			—		5,394
Current period changes net of taxes		2,445			(5	)		2,440			(20,291	)		—		(20,291	)
December 31	$	(18,020	)	$	14		$	(18,006	)	$	(20,465	)	$	19	$	(20,446	)

For the years ended December 31, 2023 and 2022, $0 and ($737) thousand, respectively, was reclassified out of accumulated other comprehensive (loss) and appeared as loss on sale of securities in the Consolidated Statement of Income. The tax benefit related to these reclassifications was $0 and $155 thousand for the years ended December 31, 2023 and 2022, respectively. The tax is included in Income Tax Expense in the Consolidated Statements of Income.