Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2021, and September 30, 2020:

(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Three Months Ended September 30, 2021
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	(10,263	)	$	(2,719	)	$	(7,544	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale		(83	)		(22	)		(61	)
Amortization of Unrealized Holding (Gains) Losses on Held-to- Maturity Securities ¹		87			23			64
Net Unrealized Gains (Losses) on Investment Securities		(10,259	)		(2,718	)		(7,541	)
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		662			175			487
Amortization of Prior Service Credit		(62	)		(16	)		(46	)
Defined Benefit Plans, Net		600			159			441
Other Comprehensive Income (Loss)	$	(9,659	)	$	(2,559	)	$	(7,100	)

Three Months Ended September 30, 2020
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	(6,771	)	$	(1,795	)	$	(4,976	)
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		103			27			76
Net Unrealized Gains (Losses) on Investment Securities		(6,668	)		(1,768	)		(4,900	)
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		570			151			419
Amortization of Prior Service Credit		(61	)		(16	)		(45	)
Defined Benefit Plans, Net		509			135			374
Other Comprehensive Income (Loss)	$	(6,159	)	$	(1,633	)	$	(4,526	)

Nine Months Ended September 30, 2021
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	(75,360	)	$	(19,954	)	$	(55,406	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
(Gain) Loss on Sale		(3,758	)		(1,014	)		(2,744	)
Amortization of Unrealized Holding (Gains) Losses on Held-to- Maturity Securities ¹		593			157			436
Net Unrealized Gains (Losses) on Investment Securities		(78,525	)		(20,811	)		(57,714	)
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		1,985			525			1,460
Amortization of Prior Service Credit		(185	)		(49	)		(136	)
Defined Benefit Plans, Net		1,800			476			1,324
Other Comprehensive Income (Loss)	$	(76,725	)	$	(20,335	)	$	(56,390	)

Nine Months Ended September 30, 2020
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	60,177		$	15,945		$	44,232
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		289			76			213
Net Unrealized Gains (Losses) on Investment Securities		60,389			16,000			44,389
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		1,711			454			1,257
Amortization of Prior Service Credit		(184	)		(49	)		(135	)
Defined Benefit Plans, Net		1,527			405			1,122
Other Comprehensive Income (Loss)	$	61,916		$	16,405		$	45,511

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 and nine months ended September 30, 2021, and September 30, 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 September 30, 2021
Balance at Beginning of Period	$	950		$	(51	)	$	(42,367	)	$	(41,468	)
Other Comprehensive Income (Loss) Before Reclassifications		(7,544	)		—			—			(7,544	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		(61	)		64			441			444
Total Other Comprehensive Income (Loss)		(7,605	)		64			441			(7,100	)
Balance at End of Period	$	(6,655	)	$	13		$	(41,926	)	$	(48,568	)

Three Months Ended September 30, 2020
Balance at Beginning of Period	$	57,511		$	(578	)	$	(38,008	)	$	18,925
Other Comprehensive Income (Loss) Before Reclassifications		(4,976	)		—			—			(4,976	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		—			76			374			450
Total Other Comprehensive Income (Loss)		(4,976	)		76			374			(4,526	)
Balance at End of Period	$	52,535		$	(502	)	$	(37,634	)	$	14,399

Nine Months Ended September 30, 2021
Balance at Beginning of Period	$	51,495		$	(423	)	$	(43,250	)	$	7,822
Other Comprehensive Income (Loss) Before Reclassifications		(55,406	)		—			—			(55,406	)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		(2,744	)		436			1,324			(984	)
Total Other Comprehensive Income (Loss)		(58,150	)		436			1,324			(56,390	)
Balance at End of Period	$	(6,655	)	$	13		$	(41,926	)	$	(48,568	)

Nine Months Ended September 30, 2020
Balance at Beginning of Period	$	8,359		$	(715	)	$	(38,756	)	$	(31,112	)
Other Comprehensive Income (Loss) Before Reclassifications		44,232			—			—			44,232
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)		(56	)		213			1,122			1,279
Total Other Comprehensive Income (Loss)		44,176			213			1,122			45,511
Balance at End of Period	$	52,535		$	(502	)	$	(37,634	)	$	14,399

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 and nine months ended September 30, 2021, and September 30, 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 September 30,
(dollars in thousands)	2021			2020
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(87	)	$	(103	)	Interest Income
		23			27		Provision for Income Tax
		(64	)		(76	)	Net of Tax
Sale of Investment Securities Available-for-Sale		83			—		Investment Securities Gains (Losses), Net
		(22	)		—		Provision for Income Tax
		61			—		Net of tax

Amortization of Defined Benefit Plan Items
Prior Service Credit ²		62			62
Net Actuarial Losses ²		(662	)		(571	)
		(600	)		(509	)	Total Before Tax
		159			135		Provision for Income Tax
		(441	)		(374	)	Net of Tax

Total Reclassifications for the Period	$	(444	)	$	(450	)	Net of Tax

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
	Nine Months Ended September 30,
(dollars in thousands)	2021			2020
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(593	)	$	(289	)	Interest Income
		157			76		Provision for Income Tax
		(436	)		(213	)	Net of Tax
Sale of Investment Securities Available-for-Sale		3,758			77		Investment Securities Gains (Losses), Net
		(1,014	)		(21	)	Provision for Income Tax
		2,744			56		Net of tax

Amortization of Defined Benefit Plan Items
Prior Service Credit ²		185			185
Net Actuarial Losses ²		(1,985	)		(1,712	)
		(1,800	)		(1,527	)	Total Before Tax
		476			405		Provision for Income Tax
		(1,324	)		(1,122	)	Net of Tax

Total Reclassifications for the Period	$	984		$	(1,279	)	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.}