XML 23 R13.htm IDEA: XBRL DOCUMENT v3.21.1
Comprehensive Income
3 Months Ended
Mar. 31, 2021
Stockholders' Equity Note [Abstract]  
Comprehensive Income Comprehensive IncomeComprehensive income represents the sum of net income and items of other comprehensive income or loss, including net unrealized gains or losses on securities available for sale and net unrealized gains or losses on derivatives. The Company's derivative instruments are utilized to manage economic risks, including interest rate risk. Changes in fair value of the Company's derivatives are primarily driven by changes in interest rates and recognized in other comprehensive income. The Company's current derivative positions will cause a decrease to other comprehensive income in a falling interest rate environment and an increase in a rising interest rate environment. The Company’s total comprehensive income or loss for the three months ended March 31, 2021 and March 31, 2020 is reported in the Consolidated Statements of Comprehensive Income.
The following tables present the changes in accumulated other comprehensive income (loss) by component, net of tax for the three months ended March 31, 2021 and March 31, 2020:    

Net Unrealized Gain (Loss) on Available for Sale SecuritiesNet Unrealized Gain (Loss) on Interest Rate SwapsTotal
(In thousands)
Balance at December 31, 2020$2,744 $(18,319)$(15,575)
Other comprehensive (loss) income before reclassifications, net of tax(798)7,783 6,985 
Amounts reclassified from accumulated other comprehensive income, net of tax— 717 717 
Net other comprehensive (loss) income(798)8,500 7,702 
Balance at March 31, 2021$1,946 $(9,819)$(7,873)

Net Unrealized Gain (Loss) on Available for Sale SecuritiesNet Unrealized Gain (Loss) on Interest Rate SwapsTotal
(In thousands)
Balance at December 31, 2019$928 $(8,444)$(7,516)
Other comprehensive income (loss) before reclassifications, net of tax1,730 (13,597)(11,867)
Amounts reclassified from accumulated other comprehensive income, net of tax— 49 49 
Net other comprehensive income (loss)1,730 (13,548)(11,818)
Balance at March 31, 2020$2,658 $(21,992)$(19,334)

The following table provides information for the items reclassified from accumulated other comprehensive income or loss:

Accumulated Other Comprehensive Income ComponentsThree Months Ended March 31,Associated Line Item in the Consolidated Statements of Income
20212020
(In thousands)
Derivatives:
Unrealized (losses) gains on derivatives$(922)$(62)Interest expense on borrowings
Tax benefit (expense)205 13 Income tax expense
Net of tax$(717)$(49)