Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2022

The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three months ended March 31, 2022:


	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, 2021	$	9,186	$	(1,332)	$	(25,786)	$	(17,932)
Other comprehensive (loss) gain before reclassification	(38,892)		218		—		(38,674)
Amounts reclassified from other comprehensive (loss) income	(10)		386		132		508
Other comprehensive (loss) income, net	(38,902)		604		132		(38,166)
Balance at March 31, 2022	$	(29,716)	$	(728)	$	(25,654)	$	(56,098)

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 months ended March 31, 2022 and 2021:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended March 31,
Components of Accumulated Other Comprehensive Loss	2022		2021		Income Statement Line Item
	(in thousands)
Unrealized gains (losses) on AFS securities before tax	$	14	$	(59)	(Losses) gains on securities transactions, net
Tax effect	(4)		15
Total net of tax	10		(44)




Unrealized losses on derivatives (cash flow hedges) before tax	(542)		(915)		Interest expense
Tax effect	156		264
Total net of tax	(386)		(651)
Defined benefit pension plan:
Amortization of actuarial net loss	(183)		(388)		*

Tax effect	51		108
Total net of tax	(132)		(280)
Total reclassifications, net of tax	$	(508)	$	(975)


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