Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2020

The following tables present the activity in other comprehensive income (loss):


Three months ended September 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	($4,582)	($1,077)	($3,505)	$3,772	$886	$2,886
Net losses on debt securities reclassified into earnings (1)	—	—	—	—	—	—
Net change in fair value of available for sale debt securities	(4,582)	(1,077)	(3,505)	3,772	886	2,886

Cash flow hedges:
Change in fair value of cash flow hedges	(146)	(39)	(107)	(283)	(66)	(217)
Net cash flow hedge gains reclassified into earnings (2)	344	83	261	60	14	46
Net change in fair value of cash flow hedges	198	44	154	(223)	(52)	(171)
Defined benefit plan obligations:

Amortization of net actuarial losses (3)	535	125	410	300	70	230
Amortization of net prior service credits (3)	—	—	—	(4)	(1)	(3)
Net change in defined benefit plan obligations	535	125	410	296	69	227
Total other comprehensive (loss) income	($3,849)	($908)	($2,941)	$3,845	$903	$2,942

(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.



Nine months ended September 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	$9,794	$2,301	$7,493	$25,985	$6,106	$19,879
Net losses on debt securities reclassified into earnings (1)	—	—	—	80	19	61
Net change in fair value of available for sale debt securities	9,794	2,301	7,493	26,065	6,125	19,940

Cash flow hedges:
Change in fair value of cash flow hedges	(1,994)	(473)	(1,521)	(1,653)	(388)	(1,265)
Net cash flow hedge gains (losses) reclassified into earnings (2)	829	196	633	39	9	30
Net change in fair value of cash flow hedges	(1,165)	(277)	(888)	(1,614)	(379)	(1,235)
Defined benefit plan obligations:

Amortization of net actuarial losses (3)	1,606	377	1,229	900	211	689
Amortization of net prior service credits (3)	—	—	—	(12)	(3)	(9)
Net change in defined benefit plan obligations	1,606	377	1,229	888	208	680
Total other comprehensive income	$10,235	$2,401	$7,834	$25,339	$5,954	$19,385

(1)The pre-tax amount is reported in net realized losses on securities 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 September 30, 2020
Balance at June 30, 2020	$14,224	($1,835)	($12,851)	($462)
Other comprehensive loss before reclassifications	(3,505)	(107)	—	(3,612)
Amounts reclassified from accumulated other comprehensive income	—	261	410	671
Net other comprehensive (loss) income	(3,505)	154	410	(2,941)
Balance at September 30, 2020	$10,719	($1,681)	($12,441)	($3,403)



(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 nine months ended September 30, 2020
Balance at December 31, 2019	$3,226	($793)	($13,670)	($11,237)
Other comprehensive income (loss) before reclassifications	7,493	(1,521)	—	5,972
Amounts reclassified from accumulated other comprehensive income	—	633	1,229	1,862
Net other comprehensive income (loss)	7,493	(888)	1,229	7,834
Balance at September 30, 2020	$10,719	($1,681)	($12,441)	($3,403)


(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 three months ended September 30, 2019
Balance at June 30, 2019	$292	($873)	($11,285)	($11,866)
Other comprehensive income (loss) before reclassifications	2,886	(217)	—	2,669
Amounts reclassified from accumulated other comprehensive income	—	46	227	273
Net other comprehensive income (loss)	2,886	(171)	227	2,942
Balance at September 30, 2019	$3,178	($1,044)	($11,058)	($8,924)



(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 nine months ended September 30, 2019
Balance at December 31, 2018	($16,762)	$191	($11,738)	($28,309)
Other comprehensive income (loss) before reclassifications	19,879	(1,265)	—	18,614
Amounts reclassified from accumulated other comprehensive income	61	30	680	771
Net other comprehensive income (loss)	19,940	(1,235)	680	19,385
Balance at September 30, 2019	$3,178	($1,044)	($11,058)	($8,924)