Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes within each classification of AOCI, net of tax:


(dollars in thousands)	Unrealized Gains and Losses on Available- for-Sale Debt Securities		Unrealized Gains and Losses on Held-to- Maturity Securities		Gains and Losses on Cash Flow Hedges		Defined Benefit Pension Plans		Total
Three Months Ended June 30, 2022
Balance at beginning of period	$	(314,364)	$	(16,727)	$	(7,132)	$	24	$	(338,199)
Other comprehensive income (loss) before reclassifications	(122,776)		(108,266)		(2,578)		—		(233,620)
Amounts reclassified from AOCI to income (1)	65		2,794		(165)		(8)		2,686
Balance at end of period	$	(437,075)	$	(122,199)	$	(9,875)	$	16	$	(569,133)

Three Months Ended June 30, 2021
Balance at beginning of period	$	86,495	$	—	$	5,525	$	(111)	$	91,909
Other comprehensive income (loss) before reclassifications	(26,886)		—		(959)		—		(27,845)
Amounts reclassified from AOCI to income (1)	(514)		—		(1,325)		37		(1,802)
Balance at end of period	$	59,095	$	—	$	3,241	$	(74)	$	62,262

Six Months Ended June 30, 2022
Balance at beginning of period	$	(2,950)	$	—	$	543	$	32	$	(2,375)
Other comprehensive income (loss) before reclassifications	(433,929)		(125,229)		(9,748)		—		(568,906)
Amounts reclassified from AOCI to income (1)	(196)		3,030		(670)		(16)		2,148
Balance at end of period	$	(437,075)	$	(122,199)	$	(9,875)	$	16	$	(569,133)

Six Months Ended June 30, 2021
Balance at beginning of period	$	145,335	$	—	$	2,584	$	(148)	$	147,771
Other comprehensive income (loss) before reclassifications	(84,173)		—		2,094		—		(82,079)
Amounts reclassified from AOCI to income (1)	(2,067)		—		(1,437)		74		(3,430)
Balance at end of period	$	59,095	$	—	$	3,241	$	(74)	$	62,262

(1)See tables below for details about reclassifications to income.

The following table summarizes the significant amounts reclassified out of each component of AOCI for the three months ended June 30, 2022 and 2021:


	Three Months Ended June 30,
(dollars in thousands)	2022		2021
Details about AOCI Components	Amount Reclassified from AOCI				Affected Line Item in the Statement of Income
Unrealized gains and losses on available-for-sale securities	$	(85)	$	692	Debt securities gains (losses), net
	20		(178)		Income tax (expense) benefit
	$	(65)	$	514	Net income
Unrealized gains and losses on held-to-maturity securities	$	(3,692)	$	—	Interest income (expense)
	898		—		Income tax (expense) benefit
	$	(2,794)	$	—	Net income
Gains and losses on cash flow hedges Interest rate contracts	$	219	$	1,756	Interest income (expense)
	(54)		(431)		Income tax (expense) benefit
	$	165	$	1,325	Net income
Amortization of defined benefit pension items
Actuarial gains (losses)	$	10	$	(49)	Salaries and employee benefits
	(2)		12		Income tax (expense) benefit
	$	8	$	(37)	Net income

Total reclassifications for the period	$	(2,686)	$	1,802	Net income

The following table summarizes the significant amounts reclassified out of each component of AOCI for the six months ended June 30, 2022 and 2021:


	Six Months Ended June 30,
(dollars in thousands)	2022		2021
Details about AOCI Components	Amount Reclassified from AOCI				Affected Line Item in the Statement of Income
Unrealized gains and losses on available-for-sale securities	$	257	$	2,685	Debt securities gains (losses), net
	(61)		(618)		Income tax (expense) benefit
	$	196	$	2,067	Net income
Unrealized gains and losses on held-to-maturity securities	$	(4,002)	$	—	Interest income (expense)
	972		—		Income tax (expense) benefit
	$	(3,030)	$	—	Net income
Gains and losses on cash flow hedges Interest rate contracts	$	888	$	1,905	Interest income (expense)
	(218)		(468)		Income tax (expense) benefit
	$	670	$	1,437	Net income
Amortization of defined benefit pension items
Actuarial gains (losses)	$	21	$	(98)	Salaries and employee benefits
	(5)		24		Income tax (expense) benefit
	$	16	$	(74)	Net income

Total reclassifications for the period	$	(2,148)	$	3,430	Net income