Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

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


Three months ended June 30,	2021			2020
(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	$5,440	$1,306	$4,134	($2,364)	($556)	($1,808)



Cash flow hedges:
Change in fair value of cash flow hedges	158	38	120	(293)	(69)	(224)
Net cash flow hedge (losses) gains reclassified into earnings (1) (2)	(65)	(15)	(50)	305	73	232
Net change in fair value of cash flow hedges	93	23	70	12	4	8
Defined benefit plan obligations:

Amortization of net actuarial losses (3)	877	203	674	535	126	409


Total other comprehensive income (loss)	$6,410	$1,532	$4,878	($1,817)	($426)	($1,391)

(1)The pre-tax amounts for the three months ended June 30, 2021 are included in interest expense on FHLB advances and interest and fees on loans in the Unaudited Consolidated Statements of Income.

(2)The pre-tax amounts for the three months ended June 30, 2020 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,	2021			2020
(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	($12,085)	($2,900)	($9,185)	$14,376	$3,378	$10,998



Cash flow hedges:
Change in fair value of cash flow hedges	267	64	203	(1,848)	(434)	(1,414)
Net cash flow hedge gains reclassified into earnings (1) (2)	216	52	164	485	113	372
Net change in fair value of cash flow hedges	483	116	367	(1,363)	(321)	(1,042)
Defined benefit plan obligations:

Amortization of net actuarial losses (3)	1,422	341	1,081	1,071	252	819


Total other comprehensive (loss) income	($10,180)	($2,443)	($7,737)	$14,084	$3,309	$10,775

(1)The pre-tax amounts for the six months ended June 30, 2021 are included in interest expense on FHLB advances and interest and fees on loans in the Unaudited Consolidated Statements of Income.

(2)The pre-tax amounts for the six months ended June 30, 2020 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 (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, 2021
Balance at March 31, 2021	($3,438)	($1,150)	($15,418)	($20,006)
Other comprehensive income before reclassifications	4,134	120	—	4,254
Amounts reclassified from accumulated other comprehensive income	—	(50)	674	624
Net other comprehensive income	4,134	70	674	4,878
Balance at June 30, 2021	$696	($1,080)	($14,744)	($15,128)



(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 six months ended June 30, 2021
Balance at December 31, 2020	$9,881	($1,447)	($15,825)	($7,391)
Other comprehensive (loss) income before reclassifications	(9,185)	203	—	(8,982)
Amounts reclassified from accumulated other comprehensive income	—	164	1,081	1,245
Net other comprehensive (loss) income	(9,185)	367	1,081	(7,737)
Balance at June 30, 2021	$696	($1,080)	($14,744)	($15,128)


(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)