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Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Other Comprehensive Income (Loss) Other Comprehensive Income (Loss)
The following tables present the activity in other comprehensive income (loss):
Three months ended June 30,
2020
 
2019
(Dollars in thousands)
Pre-tax Amounts
Income Taxes
Net of Tax
 
Pre-tax Amounts
Income Taxes
Net of Tax
Securities available for sale:
 
 
 
 
 
 
 
Changes in fair value of available for sale debt securities

($2,364
)

($556
)

($1,808
)
 

$7,807


$1,835


$5,972

Net losses on debt securities reclassified into earnings (1)
—

—

—

 
80

19

61

Net change in fair value of available for sale debt securities
(2,364
)
(556
)
(1,808
)
 
7,887

1,854

6,033

Cash flow hedges:
 
 
 
 
 
 
 
Change in fair value of cash flow hedges
(293
)
(69
)
(224
)
 
(824
)
(194
)
(630
)
Net cash flow hedge gains reclassified into earnings (2)
305

73

232

 
10

2

8

Net change in fair value of cash flow hedges
12

4

8

 
(814
)
(192
)
(622
)
Defined benefit plan obligations:
 
 
 
 
 
 
 
Amortization of net actuarial losses (3)
535

126

409

 
300

71

229

Amortization of net prior service credits (3)
—

—

—

 
(4
)
(1
)
(3
)
Net change in defined benefit plan obligations
535

126

409

 
296

70

226

Total other comprehensive (loss) income

($1,817
)

($426
)

($1,391
)
 

$7,369


$1,732


$5,637


(1)
The pre-tax amount is reported in net realized losses on securities in the Unaudited Consolidated Statements of Income.
(2)
The pre-tax amounts are included in interest expense on FHLB advances, interest expense on junior subordinated debentures and interest and fees on loans in the Unaudited Consolidated Statements of Income.
(3)
The pre-tax amounts are included in other expenses in the Unaudited Consolidated Statements of Income.

 
 
 
 
 
 
 
 
Six months ended June 30,
2020
 
2019
(Dollars in thousands)
Pre-tax Amounts
Income Taxes
Net of Tax
 
Pre-tax Amounts
Income Taxes
Net of Tax
Securities available for sale:
 
 
 
 
 
 
 
Changes in fair value of available for sale debt securities

$14,376


$3,378


$10,998

 

$22,213


$5,220


$16,993

Net losses on debt securities reclassified into earnings (1)
—

—

—

 
80

19

61

Net change in fair value of available for sale debt securities
14,376

3,378

10,998

 
22,293

5,239

17,054

Cash flow hedges:
 
 
 
 
 
 
 
Change in fair value of cash flow hedges
(1,848
)
(434
)
(1,414
)
 
(1,370
)
(322
)
(1,048
)
Net cash flow hedge gains (losses) reclassified into earnings (2)
485

113

372

 
(21
)
(5
)
(16
)
Net change in fair value of cash flow hedges
(1,363
)
(321
)
(1,042
)
 
(1,391
)
(327
)
(1,064
)
Defined benefit plan obligations:
 
 
 
 
 
 
 
Amortization of net actuarial losses (3)
1,071

252

819

 
600

141

459

Amortization of net prior service credits (3)
—

—

—

 
(8
)
(2
)
(6
)
Net change in defined benefit plan obligations
1,071

252

819

 
592

139

453

Total other comprehensive income

$14,084


$3,309


$10,775

 

$21,494


$5,051


$16,443


(1)
The pre-tax amount is reported in net realized losses on securities in the Unaudited Consolidated Statements of Income.
(2)
The pre-tax amounts are included in interest expense on FHLB advances, interest expense on junior subordinated debentures and interest and fees on loans in the Unaudited Consolidated Statements of Income.
(3)
The pre-tax amounts are included in other expenses in the Unaudited Consolidated Statements of Income.
The following tables present the changes in accumulated other comprehensive income (loss) by component, net of tax:
(Dollars in thousands)
Net Unrealized Gains (Losses) on Available For Sale Debt Securities
 
Net Unrealized (Losses) Gains on Cash Flow Hedges
 
Defined Benefit Pension Plan Adjustment
 
Total
For the three months ended June 30, 2020
 
 
 
Balance at March 31, 2020

$16,032

 

($1,843
)
 

($13,260
)
 

$929

Other comprehensive loss before reclassifications
(1,808
)
 
(224
)
 
—

 
(2,032
)
Amounts reclassified from accumulated other comprehensive income
—

 
232

 
409

 
641

Net other comprehensive (loss) income
(1,808
)
 
8

 
409

 
(1,391
)
Balance at June 30, 2020

$14,224

 

($1,835
)
 

($12,851
)
 

($462
)
 
 
 
 
 
 
 
 
(Dollars in thousands)
Net Unrealized Gains on Available For Sale Debt Securities
 
Net Unrealized (Losses) Gains on Cash Flow Hedges
 
Defined Benefit Pension Plan Adjustment
 
Total
For the six months ended June 30, 2020
 
 
 
Balance at December 31, 2019

$3,226

 

($793
)
 

($13,670
)
 

($11,237
)
Other comprehensive income (loss) before reclassifications
10,998

 
(1,414
)
 
—

 
9,584

Amounts reclassified from accumulated other comprehensive income
—

 
372

 
819

 
1,191

Net other comprehensive income (loss)
10,998

 
(1,042
)
 
819

 
10,775

Balance at June 30, 2020

$14,224

 

($1,835
)
 

($12,851
)
 

($462
)
(Dollars in thousands)
Net Unrealized (Losses) Gains on Available For Sale Debt Securities
 
Net Unrealized (Losses) Gains on Cash Flow Hedges
 
Defined Benefit Pension Plan Adjustment
 
Total
For the three months ended June 30, 2019
 
 
 
Balance at March 31, 2019

($5,741
)
 

($251
)
 

($11,511
)
 

($17,503
)
Other comprehensive income (loss) before reclassifications
5,972

 
(630
)
 
—

 
5,342

Amounts reclassified from accumulated other comprehensive income
61

 
8

 
226

 
295

Net other comprehensive income (loss)
6,033

 
(622
)
 
226

 
5,637

Balance at June 30, 2019

$292

 

($873
)
 

($11,285
)
 

($11,866
)
 
 
 
 
 
 
 
 
(Dollars in thousands)
Net Unrealized (Losses) Gains on Available For Sale Debt Securities
 
Net Unrealized Gains (Losses) on Cash Flow Hedges
 
Defined Benefit Pension Plan Adjustment
 
Total
For the six months ended June 30, 2019
 
 
 
Balance at December 31, 2018

($16,762
)
 

$191

 

($11,738
)
 

($28,309
)
Other comprehensive income (loss) before reclassifications
16,993

 
(1,048
)
 
—

 
15,945

Amounts reclassified from accumulated other comprehensive income
61

 
(16
)
 
453

 
498

Net other comprehensive income (loss)
17,054

 
(1,064
)
 
453

 
16,443

Balance at June 30, 2019

$292

 

($873
)
 

($11,285
)
 

($11,866
)