Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2021

Components of Accumulated Other Comprehensive Loss

The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three and nine months ended September 30, 2021:


	Components of Accumulated Other Comprehensive Loss						Total Accumulated Other Comprehensive Loss
	Unrealized Gains and Losses on Available for Sale (AFS) Securities		Unrealized Gains and Losses on Derivatives		Defined Benefit Pension Plan
	(in thousands)
Balance at June 30, 2021	$	21,503	$	(2,694)	$	(36,544)	$	(17,735)
Other comprehensive loss before reclassification	(3,953)		(96)		—		(4,049)
Amounts reclassified from other comprehensive (loss) income	(613)		743		279		409
Other comprehensive (loss) income, net	(4,566)		647		279		(3,640)
Balance at September 30, 2021	$	16,937	$	(2,047)	$	(36,265)	$	(21,375)


	Components of Accumulated Other Comprehensive Loss						Total Accumulated Other Comprehensive Loss
	Unrealized Gains and Losses on Available for Sale (AFS) Securities		Unrealized Gains and Losses on Derivatives		Defined Benefit Pension Plan
	(in thousands)
Balance at December 31, 2020	$	33,290	$	(3,906)	$	(37,102)	$	(7,718)
Other comprehensive loss before reclassification	(15,860)		(69)		—		(15,929)
Amounts reclassified from other comprehensive (loss) income	(493)		1,928		837		2,272
Other comprehensive (loss) income, net	(16,353)		1,859		837		(13,657)
Balance at September 30, 2021	$	16,937	$	(2,047)	$	(36,265)	$	(21,375)

Reclassification from Each Component of Accumulated Other Comprehensive Loss

The following table presents amounts reclassified from each component of accumulated other comprehensive loss on a gross and net of tax basis for the three and nine months ended September 30, 2021 and 2020:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended September 30,				Nine Months Ended September 30,
Components of Accumulated Other Comprehensive Loss	2021		2020		2021		2020		Income Statement Line Item
	(in thousands)
Unrealized gains (losses) on AFS securities before tax	$	825	$	(46)	$	663	$	(127)	Gains (losses) on securities transactions, net
Tax effect	(212)		10		(170)		33
Total net of tax	613		(36)		493		(94)




Unrealized losses on derivatives (cash flow hedges) before tax	(1,044)		(1,586)		(2,708)		(1,763)		Interest expense
Tax effect	301		459		780		506
Total net of tax	(743)		(1,127)		(1,928)		(1,257)
Defined benefit pension plan:
Amortization of actuarial net loss	(388)		(234)		(1,163)		(699)		*

Tax effect	109		63		326		184
Total net of tax	(279)		(171)		(837)		(515)
Total reclassifications, net of tax	$	(409)	$	(1,334)	$	(2,272)	$	(1,866)


*			Amortization of actuarial net loss is included in the computation of net periodic pension cost recognized within other non-interest expense.