Changes in Accumulated Other Comprehensive Income (Loss) By Component

3 Months Ended

Mar. 31, 2020

Changes in Accumulated Other Comprehensive Income (Loss) By Component

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT

The following tables present the changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2020 and 2019. All amounts are presented net of tax. Amounts in parentheses indicate reductions to AOCI.


	Three Months Ended March 31, 2020
(amounts in thousands)	Unrealized Gains (Losses) on Available for Sale Securities ⁽¹⁾		Unrealized Gains (Losses) on Cash Flow Hedges ⁽²⁾		Total
Balance - December 31, 2019	$	14,287	$	(15,537)	$	(1,250)



Unrealized gains (losses) arising during period, before tax	(9,098)		(27,697)		(36,795)
Income tax effect	2,366		7,351		9,717
Other comprehensive income (loss) before reclassifications	(6,732)		(20,346)		(27,078)
Reclassification adjustments for losses (gains) included in net income, before tax	(3,974)		1,478		(2,496)
Income tax effect	1,033		(384)		649
Amounts reclassified from accumulated other comprehensive income (loss) to net income	(2,941)		1,094		(1,847)
Net current-period other comprehensive income (loss)	(9,673)		(19,252)		(28,925)
Balance - March 31, 2020	$	4,614	$	(34,789)	$	(30,175)


	Three Months Ended March 31, 2019

(amounts in thousands)	Unrealized Gains (Losses) on Available for Sale Securities ⁽¹⁾		Unrealized Gains (Losses) on Cash Flow Hedges ⁽²⁾		Total
Balance - December 31, 2018	$	(21,741)	$	(922)	$	(22,663)



Unrealized gains (losses) arising during period, before tax	17,817		(6,939)		10,878
Income tax effect	(4,632)		1,804		(2,828)
Other comprehensive income (loss) before reclassifications	13,185		(5,135)		8,050
Reclassification adjustments for losses (gains) included in net income, before tax	—		(413)		(413)
Income tax effect	—		107		107
Amounts reclassified from accumulated other comprehensive income (loss) to net income	—		(306)		(306)
Net current-period other comprehensive income (loss)	13,185		(5,441)		7,744
Balance - March 31, 2019	$	(8,556)	$	(6,363)	$	(14,919)

(1)Reclassification amounts for available for sale debt securities are reported as gain or loss on sale of investment securities on the consolidated statements of income.

(2)Reclassification amounts for cash flow hedges are reported as interest expense for the applicable hedged items on the consolidated statements of income.