Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2022

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, 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 June 30, 2022	$	(81,985)	$	(831)	$	(25,521)	$	(108,337)
Other comprehensive loss before reclassification	(57,242)		(85)		—		(57,327)
Amounts reclassified from other comprehensive (loss) income	(12)		(13)		132		107
Other comprehensive (loss) income, net	(57,254)		(98)		132		(57,220)
Balance at September 30, 2022	$	(139,239)	$	(929)	$	(25,389)	$	(165,557)


	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	(148,403)		110		—		(148,293)
Amounts reclassified from other comprehensive (loss) income	(22)		293		397		668
Other comprehensive (loss) income, net	(148,425)		403		397		(147,625)
Balance at September 30, 2022	$	(139,239)	$	(929)	$	(25,389)	$	(165,557)

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, 2022 and 2021:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended September 30,				Nine Months Ended September 30,
Components of Accumulated Other Comprehensive Loss	2022		2021		2022		2021		Income Statement Line Item
	(in thousands)
Unrealized gains on AFS securities before tax	$	16	$	825	$	30	$	663	Gains (losses) on securities transactions, net
Tax effect	(4)		(212)		(8)		(170)
Total net of tax	12		613		22		493




Unrealized gains (losses) on derivatives (cash flow hedges) before tax	21		(1,044)		(405)		(2,708)		Interest expense
Tax effect	(8)		301		112		780
Total net of tax	13		(743)		(293)		(1,928)
Defined benefit pension plan:
Amortization of actuarial net loss	(183)		(388)		(550)		(1,163)		*

Tax effect	51		109		153		326
Total net of tax	(132)		(279)		(397)		(837)
Total reclassifications, net of tax	$	(107)	$	(409)	$	(668)	$	(2,272)


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