Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2023

The following tables present the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three and six months ended June 30, 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 March 31, 2023	$	(110,648)	$	5,410	$	(38,409)	$	(143,647)
Other comprehensive loss before reclassification	(18,051)		(3,573)		—		(21,624)
Amounts reclassified from other comprehensive loss	—		516		8		524
Other comprehensive (loss) income, net	(18,051)		(3,057)		8		(21,100)
Balance at June 30, 2023	$	(128,699)	$	2,353	$	(38,401)	$	(164,747)


	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 loss before reclassification	(881)		(775)		—		(1,656)
Amounts reclassified from other comprehensive loss	—		895		16		911
Other comprehensive (loss) income, net	(881)		120		16		(745)
Balance at June 30, 2023	$	(128,699)	$	2,353	$	(38,401)	$	(164,747)

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 six months ended June 30, 2023 and 2022:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended June 30,				Six Months Ended June 30,
Components of Accumulated Other Comprehensive Loss	2023		2022		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 gains (losses) on derivatives (cash flow hedges) before tax	(725)		116		(1,256)		(426)		Interest income, interest expense
Tax effect	209		(36)		361		120
Total net of tax	(516)		80		(895)		(306)
Defined benefit pension and postretirement benefit plans:
Amortization of actuarial net loss	(11)		(184)		(22)		(367)		*

Tax effect	3		51		6		102
Total net of tax	(8)		(133)		(16)		(265)
Total reclassifications, net of tax	$	(524)	$	(53)	$	(911)	$	(561)


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