Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2021

Comprehensive Income Net Of Tax [Abstract]

Components of Other Comprehensive Income

The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2021, and March 31, 2020:

(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Three Months Ended March 31, 2021
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	(68,225	)	$	(18,082	)	$	(50,143	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
Amortization of Unrealized Holding (Gains) Losses on Held-to- Maturity Securities ¹		125			32			93
Net Unrealized Gains (Losses) on Investment Securities		(68,100	)		(18,050	)		(50,050	)
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		662			177			485
Amortization of Prior Service Credit		(61	)		(17	)		(44	)
Defined Benefit Plans, Net		601			160			441
Other Comprehensive Income (Loss)	$	(67,499	)	$	(17,890	)	$	(49,609	)

Three Months Ended March 31, 2020
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	56,556		$	14,989		$	41,567
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale		(77	)		(21	)		(56	)
Amortization of Unrealized Holding (Gains) Losses on Held-to- Maturity Securities ¹		65			17			48
Net Unrealized Gains (Losses) on Investment Securities		56,544			14,985			41,559
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		570			152			418
Amortization of Prior Service Credit		(61	)		(17	)		(44	)
Defined Benefit Plans, Net		509			135			374
Other Comprehensive Income (Loss)	$	57,053		$	15,120		$	41,933

The amount relates to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available-for-sale investment securities to the held-to-maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2021, and March 31, 2020:

(dollars in thousands)	Investment Securities- Available- for-Sale			Investment Securities- Held-to-Maturity			Defined Benefit Plans			Accumulated Other Comprehensive Income (Loss)
Three Months Ended March 31, 2021
Balance at Beginning of Period	$	51,495		$	(423	)	$	(43,250	)	$	7,822
Other Comprehensive Income (Loss) Before Reclassifications		(50,143	)		—			—			(50,143	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		—			93			441			534
Total Other Comprehensive Income (Loss)		(50,143	)		93			441			(49,609	)
Balance at End of Period	$	1,352		$	(330	)	$	(42,809	)	$	(41,787	)

Three Months Ended March 31, 2020
Balance at Beginning of Period	$	8,359		$	(715	)	$	(38,756	)	$	(31,112	)
Other Comprehensive Income (Loss) Before Reclassifications		41,567			—			—			41,567
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		(56	)		48			374			366
Total Other Comprehensive Income (Loss)		41,511			48			374			41,933
Balance at End of Period	$	49,870		$	(667	)	$	(38,382	)	$	10,821

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2021, and March 31, 2020:

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)¹						Affected Line Item in the Statement Where Net Income Is Presented
	Three Months Ended March 31,
(dollars in thousands)	2021			2020
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(125	)	$	(65	)	Interest Income
		32			17		Provision for Income Tax
		(93	)		(48	)	Net of Tax
Sale of Investment Securities Available-for-Sale		—			77		Investment Securities Gains (Losses), Net
		—			(21	)	Provision for Income Tax
		—			56		Net of tax

Amortization of Defined Benefit Plan Items
Prior Service Credit ²		61			61
Net Actuarial Losses ²		(662	)		(570	)
		(601	)		(509	)	Total Before Tax
		160			135		Provision for Income Tax
		(441	)		(374	)	Net of Tax

Total Reclassifications for the Period	$	(534	)	$	(366	)	Net of Tax

¹	^{Amounts in parentheses indicate reductions to net income.}

²	^{These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost and are included in Other Noninterest Expense on the consolidated statements of income (see Note 11 Pension Plans and Postretirement Benefit Plan for additional details).}