Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2022

Comprehensive Income Net Of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 8.  Accumulated Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2022, and March 31, 2021:

(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Three Months Ended March 31, 2022
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	(245,147	)	$	(64,974	)	$	(180,173	)
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		67			18			49
Net Unrealized Gains (Losses) on Investment Securities		(245,080	)		(64,956	)		(180,124	)
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)		542			143			399
Amortization of Prior Service Credit		(62	)		(16	)		(46	)
Defined Benefit Plans, Net		480			127			353
Other Comprehensive Income (Loss)	$	(244,600	)	$	(64,829	)	$	(179,771	)
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	)

¹ 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.

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, 2022, and March 31, 2021:

(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, 2022
Balance at Beginning of Period	$	(32,940	)	$	54		$	(33,496	)	$	(66,382	)
Other Comprehensive Income (Loss) Before Reclassifications		(180,173	)		—			—			(180,173	)
Amounts Reclassified from Accumulated Other    Comprehensive Income (Loss)		—			49			353			402
Total Other Comprehensive Income (Loss)		(180,173	)		49			353			(179,771	)
Balance at End of Period	$	(213,113	)	$	103		$	(33,143	)	$	(246,153	)
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	)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2022, and March 31, 2021:

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)	2022			2021
Amortization of Unrealized Holding Gains (Losses) on    Investment Securities Held-to-Maturity	$	(67	)	$	(125	)	Interest Income
		18			32		Provision for Income Tax
		(49	)		(93	)	Net of Tax
Amortization of Defined Benefit Plan Items
Prior Service Credit 2		62			61
Net Actuarial Losses 2		(542	)		(662	)
		(480	)		(601	)	Total Before Tax
		127			160		Provision for Income Tax
		(353	)		(441	)	Net of Tax
Total Reclassifications for the Period	$	(402	)	$	(534	)	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.}