Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

Activity in Other Comprehensive Income (Loss)

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


Three months ended June 30,	2022			2021
(Dollars in thousands)	Pre-tax Amounts	Income Taxes	Net of Tax	Pre-tax Amounts	Income Taxes	Net of Tax
Securities available for sale:
Change in fair value of available for sale debt securities	($47,293)	($11,351)	($35,942)	$5,440	$1,306	$4,134



Cash flow hedges:
Change in fair value of cash flow hedges	(3,943)	(946)	(2,997)	158	38	120
Net cash flow hedge losses (gains) reclassified into earnings (1)	32	8	24	(65)	(15)	(50)
Net change in fair value of cash flow hedges	(3,911)	(938)	(2,973)	93	23	70
Defined benefit plan obligations:

Amortization of net actuarial losses (2)	428	103	325	877	203	674


Total other comprehensive (loss) income	($50,776)	($12,186)	($38,590)	$6,410	$1,532	$4,878

(1)The pre-tax amounts 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 are included in other expenses in the Unaudited Consolidated Statements of Income.



Six months ended June 30,	2022			2021
(Dollars in thousands)	Pre-tax Amounts	Income Taxes	Net of Tax	Pre-tax Amounts	Income Taxes	Net of Tax
Securities available for sale:
Change in fair value of available for sale debt securities	($112,371)	($26,969)	($85,402)	($12,085)	($2,900)	($9,185)



Cash flow hedges:
Change in fair value of cash flow hedges	(17,144)	(4,114)	(13,030)	267	64	203
Net cash flow hedge (gains) losses reclassified into earnings (1)	(367)	(89)	(278)	216	52	164
Net change in fair value of cash flow hedges	(17,511)	(4,203)	(13,308)	483	116	367
Defined benefit plan obligations:

Amortization of net actuarial losses (2)	856	206	650	1,422	341	1,081


Total other comprehensive loss	($129,026)	($30,966)	($98,060)	($10,180)	($2,443)	($7,737)

(1)The pre-tax amounts 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 are included in other expenses in the Unaudited Consolidated Statements of Income.

Components of Accumulated Other Comprehensive Income (Loss) Rollforward

The following tables present the changes in accumulated other comprehensive income (loss) by component, net of tax:


(Dollars in thousands)	Net Unrealized Losses on Available For Sale Debt Securities	Net Unrealized (Losses) Gains on Cash Flow Hedges	Net Unrealized Losses on Defined Benefit Plan Obligations	Total
For the three months ended June 30, 2022
Balance at March 31, 2022	($56,255)	($14,348)	($8,848)	($79,451)
Other comprehensive loss before reclassifications	(35,942)	(2,997)	—	(38,939)
Amounts reclassified from accumulated other comprehensive loss	—	24	325	349
Net other comprehensive (loss) income	(35,942)	(2,973)	325	(38,590)
Balance at June 30, 2022	($92,197)	($17,321)	($8,523)	($118,041)



(Dollars in thousands)	Net Unrealized Losses on Available For Sale Debt Securities	Net Unrealized Losses on Cash Flow Hedges	Net Unrealized Losses on Defined Benefit Plan Obligations	Total
For the six months ended June 30, 2022
Balance at December 31, 2021	($6,795)	($4,013)	($9,173)	($19,981)
Other comprehensive loss before reclassifications	(85,402)	(13,030)	—	(98,432)
Amounts reclassified from accumulated other comprehensive loss	—	(278)	650	372
Net other comprehensive (loss) income	(85,402)	(13,308)	650	(98,060)
Balance at June 30, 2022	($92,197)	($17,321)	($8,523)	($118,041)


(Dollars in thousands)	Net Unrealized Gains (Losses) on Available For Sale Debt Securities	Net Unrealized (Losses) Gains on Cash Flow Hedges	Net Unrealized Losses on Defined Benefit Plan Obligations	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 loss	—	(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	Net Unrealized Losses on Defined Benefit Plan Obligations	Total
For the six months ended June 30, 2021
Balance at December 31, 2020	$9,881	($1,447)	($15,825)	($7,391)
Other comprehensive income (loss) 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)