Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2023

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, 2023:


	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 and Postretirement Benefit Plans
	(in thousands)
Balance at December 31, 2022	$	(127,818)	$	2,233	$	(38,417)	$	(164,002)
Other comprehensive gain before reclassification	17,170		2,798		—		19,968
Amounts reclassified from other comprehensive income	—		379		8		387
Other comprehensive income, net	17,170		3,177		8		20,355
Balance at March 31, 2023	$	(110,648)	$	5,410	$	(38,409)	$	(143,647)

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, 2023 and 2022:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended March 31,
Components of Accumulated Other Comprehensive Loss	2023		2022		Income Statement Line Item
	(in thousands)
Unrealized gains on AFS securities before tax	$	—	$	14	Gains (losses) on securities transactions, net
Tax effect	—		(4)
Total net of tax	—		10




Unrealized losses on derivatives (cash flow hedges) before tax	(531)		(542)		Interest expense
Tax effect	152		156
Total net of tax	(379)		(386)
Defined benefit pension and postretirement benefit plans:
Amortization of actuarial net loss	(11)		(183)		*

Tax effect	3		51
Total net of tax	(8)		(132)
Total reclassifications, net of tax	$	(387)	$	(508)


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