Activity in accumulated other comprehensive income for the year ended December 31, 2019, 2018 and 2017 was as follows:

	Unrealized Gains and
	Losses on
	Available- for-Sale			Tax Benefit
	Securities			(Expense)			Total
	(in thousands)
For the year ended December 31, 2019
Balance at beginning of period	$	(8,536	)	$	2,457		$	(6,079	)
Other comprehensive income (loss) before reclassification		14,583			(3,827	)		10,756
Reclassification from accumulated other comprehensive income		(1,295	)		—			(1,295	)
Net current period other comprehensive income		13,288			(3,827	)		9,461
Balance at end of period	$	4,752		$	(1,370	)	$	3,382

For the year ended December 31, 2018
Balance at beginning of period	$	(3,188	)	$	1,319		$	(1,869	)
Other comprehensive income (loss) before reclassification		(5,790	)		1,684			(4,106	)
Reclassification from accumulated other comprehensive income		(87	)		—			(87	)
Adjustments to accumulated other comprehensive income		529			(546	)		(17	)
Net current period other comprehensive income		(5,348	)		1,138			(4,210	)
Balance at end of period	$	(8,536	)	$	2,457		$	(6,079	)

For the year ended December 31, 2017
Balance at beginning of period	$	(4,089	)	$	1,695		$	(2,394	)
Other comprehensive income (loss) before reclassification		2,649			(376	)		2,273
Reclassification from accumulated other comprehensive income		(1,748	)		—			(1,748	)
Net current period other comprehensive income		901			(376	)		525
Balance at end of period	$	(3,188	)	$	1,319		$	(1,869	)

The Company recorded a net $17,000 adjustment related to adoption of two new accounting standards (ASU 2016-01 and ASU 2018-02) effective January 1, 2018. The $17,000 adjustment includes a $529,000 reduction of unrealized losses related to the Company’s mutual funds equity securities upon adoption of ASU 2016-01 and a $546,000 reduction in tax benefits upon adoption of ASU 2016-01 and ASU 2018-02. All mutual fund equity securities were sold during the three months ended March 31, 2018. See Notes 3 and 11 to the Consolidated Financial Statements for additional information on adoption of ASU 2016-01 and ASU 2018-02, respectively.

For the year ended December 31, 2019, there was a $1.3 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $1.3 million reclassification adjustment from accumulated other comprehensive income was included in net gain on sales of securities in noninterest income. Net unrealized gain of $586,000 related to these sold securities had previously been recorded in accumulated other comprehensive income or loss.

For the year ended December 31, 2018, there was a $87,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $87,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities in noninterest income. Net unrealized losses of $413,000 related to these sold securities had previously been recorded in accumulated other comprehensive income or loss. For the year ended December 31, 2017, there was a $1.7 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $1.7 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities in noninterest income. Net unrealized losses of $1.3 million related to these sold securities had previously been recorded in accumulated other comprehensive income or loss.