| Schedule of Comprehensive Income (Loss) |
Accumulated Other Comprehensive Income (Loss)
The following table presents the components of other comprehensive income (loss) for the years ended December 31: | | | | | | | | | | | | | | | | | | | Before-Tax Amount | | Tax Effect | | Net of Tax Amount | | (in thousands) | | 2021 | | | | | | | Unrealized loss on securities | $ | (23,222) | | | $ | 5,274 | | | $ | (17,948) | | Reclassification adjustment for securities gains included in net income (1) | (33,516) | | | 7,611 | | | (25,905) | | Amortization of net unrealized losses on AFS transferred to HTM (2) | 3,485 | | | (795) | | | 2,690 | | | | | | | | | Net unrealized holding loss arising during the period on interest rate swaps used in cash flow hedges | (2,776) | | 629 | | (2,147) | | | Reclassification adjustment for net loss realized in net income on interest rate swaps used in cash flow hedges | (3,452) | | | 782 | | | (2,670) | | | Unrecognized pension and postretirement income | 9,147 | | | (2,003) | | | 7,144 | | Amortization of net unrecognized pension and postretirement items (3) | 1,480 | | | (324) | | | 1,156 | | | Total Other Comprehensive Loss | $ | (48,854) | | | $ | 11,174 | | | $ | (37,680) | | | 2020 | | | | | | | Unrealized gain on securities | $ | 85,188 | | | $ | (19,537) | | | $ | 65,651 | | Reclassification adjustment for securities gains included in net income (1) | (3,053) | | | 694 | | | (2,359) | | Amortization of net unrealized losses on AFS transferred to HTM (2) (4) | 4,360 | | | (912) | | | 3,448 | | | | | | | | | Unrecognized pension and postretirement income | (3,242) | | | 710 | | | (2,532) | | Amortization of net unrecognized pension and postretirement items (3) | 1,311 | | | (291) | | | 1,020 | | | Total Other Comprehensive Income | $ | 84,564 | | | $ | (19,336) | | | $ | 65,228 | | | 2019 | | | | | | | Unrealized gain on securities | $ | 73,085 | | | $ | (16,166) | | | $ | 56,919 | | Reclassification adjustment for securities gains included in net income (1) | (4,733) | | | 1,047 | | | (3,686) | | Amortization of net unrealized losses on AFS transferred to HTM (2) | 8,070 | | | (1,785) | | | 6,285 | | | Non-credit related unrealized losses on other-than-temporarily impaired debt securities | (873) | | | 193 | | | (680) | | | Unrecognized pension and postretirement income | (1,203) | | | 266 | | | (937) | | Amortization of net unrecognized pension and postretirement items (3) | 1,316 | | | (291) | | | 1,025 | | | Total Other Comprehensive Income | $ | 75,662 | | | $ | (16,736) | | | $ | 58,926 | |
(1) Amounts reclassified out of AOCI/(loss). Before-tax amounts included in "Investment securities gains, net" on the consolidated statements of income. See "Note 3 - Investment Securities," for additional details. (2) Amounts reclassified out of AOCI/(loss). Before-tax amounts included as a reduction to "Interest Income" on the consolidated statements of income. See "Note 3, - Investment Securities," for additional details. (3) Amounts reclassified out of AOCI/(loss). Before-tax amounts included in "Salaries and employee benefits" on the consolidated statements of income. See "Note 13 - Employee Benefit Plans," for additional details. (4) Before-Tax amount includes a $3.7 million reclassification of unrealized loss related to the early adoption of ASU 2019-04, as disclosed in "Note 1 - Summary of Significant Accounting Policies" from "Amortization of net unrealized losses on AFS securities transferred to HTM" to "Unrealized gain on securities."
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| Schedule of Accumulated Other Comprehensive Income (Loss) |
The following table presents changes in each component of accumulated other comprehensive income (loss), net of tax, for the years ended December 31: | | | | | | | | | | | | | | | | | | | | | | | | | Unrealized Gains (Losses) on Investment Securities | | Net Unrealized (Loss) Gain on Interest Rate Swaps used in Cash Flow Hedges | | Unrecognized Pension and Postretirement Plan Income (Costs) | | Total | | (in thousands) | | Balance at December 31, 2018 | $ | (43,974) | | | $ | — | | | $ | (15,089) | | | $ | (59,063) | | | Other comprehensive loss before reclassifications | 56,239 | | | — | | | (937) | | | 55,302 | | | Amounts reclassified from AOCI (loss) | (3,686) | | | — | | | 1,025 | | | (2,661) | | | Amortization of net unrealized losses on AFS securities transferred to HTM | 6,285 | | | — | | | — | | | 6,285 | | | | | | | | | | | Balance at December 31, 2019 | 14,864 | | | — | | | (15,001) | | | (137) | | | OCI before reclassifications | 65,651 | | | — | | | (2,532) | | | 63,119 | | | Amounts reclassified from AOCI | (2,359) | | | — | | | 1,020 | | | (1,339) | | | Amortization of net unrealized losses on AFS securities transferred to HTM | 3,448 | | | — | | | — | | | 3,448 | | | Balance at December 31, 2020 | 81,604 | | | — | | | (16,513) | | | 65,091 | | | OCI before reclassifications | (17,948) | | | — | | | 7,144 | | | (10,804) | | | Amounts reclassified from AOCI | (25,905) | | | (4,817) | | | 1,156 | | | (29,566) | | | Amortization of net unrealized losses on AFS securities transferred to HTM | 2,690 | | | — | | | — | | | 2,690 | | | Balance at December 31, 2021 | $ | 40,441 | | | $ | (4,817) | | | $ | (8,213) | | | $ | 27,411 | |
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