Changes in Accumulated Other Comprehensive Income |
Changes in Accumulated Other Comprehensive Income The following tables show the changes in accumulated other comprehensive income by component for the periods indicated (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | For the quarter ended March 31, 2024 | | Unrealized losses on securities available-for-sale | | Change in fair value of interest rate swaps | | Change in defined benefit pension plans | | Total | Balance as of December 31, 2023 | $ | (150,659) | | | (374) | | | 1,541 | | | (149,492) | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive (loss)/income before reclassification adjustments (1) (2) | (5,698) | | | 2,154 | | | — | | | (3,544) | | Amounts reclassified from accumulated other comprehensive income (3) | — | | | — | | | (388) | | | (388) | | | | | | | | | | Net other comprehensive (loss)/income | (5,698) | | | 2,154 | | | (388) | | | (3,932) | | | | | | | | | | Balance as of March 31, 2024 | $ | (156,357) | | | 1,780 | | | 1,153 | | | (153,424) | |
| | | | | | | | | | | | | | | | | | | | | For the quarter ended March 31, 2023 | | Unrealized losses on securities available-for-sale | | | | Change in defined benefit pension plans | | Total | Balance as of December 31, 2022 | $ | (164,206) | | | | | (6,952) | | | (171,158) | | | | | | | | | | | | | | | | | | | | | | | | | | Other comprehensive income before reclassification adjustments (4) | 13,017 | | | | | — | | | 13,017 | | Amounts reclassified from accumulated other comprehensive income (5) | — | | | | | (382) | | | (382) | | | | | | | | | | Net other comprehensive income/(loss) | 13,017 | | | | | (382) | | | 12,635 | | | | | | | | | | Balance as of March 31, 2023 | $ | (151,189) | | | | | (7,334) | | | (158,523) | |
(1)Consists of unrealized holding losses, net of tax of $1,758. (2)Change in fair value of interest rate swaps, net of tax ($630). (3)Consists of realized gains, net of tax of $147. (4)Consists of unrealized holding gains, net of tax of ($3,308). (5)Consists of realized gains, net of tax of $152.
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