Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2022

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


Three months ended September 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	($61,931)	($14,864)	($47,067)	($4,127)	($990)	($3,137)



Cash flow hedges:
Change in fair value of cash flow hedges	(10,250)	(2,460)	(7,790)	(288)	(69)	(219)
Net cash flow hedge losses (gains) reclassified into earnings (1)	1,075	258	817	(243)	(59)	(184)
Net change in fair value of cash flow hedges	(9,175)	(2,202)	(6,973)	(531)	(128)	(403)
Defined benefit plan obligations:

Amortization of net actuarial losses (2)	428	102	326	711	171	540


Total other comprehensive loss	($70,678)	($16,964)	($53,714)	($3,947)	($947)	($3,000)

(1)The pre-tax amounts are included in interest and fees on loans and FHLB interest expense in the Unaudited Consolidated Statements of Income.

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



Nine months ended September 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	($174,302)	($41,833)	($132,469)	($16,212)	($3,890)	($12,322)



Cash flow hedges:
Change in fair value of cash flow hedges	(27,394)	(6,574)	(20,820)	(21)	(5)	(16)
Net cash flow hedge losses (gains) reclassified into earnings (1)	709	170	539	(27)	(7)	(20)
Net change in fair value of cash flow hedges	(26,685)	(6,404)	(20,281)	(48)	(12)	(36)
Defined benefit plan obligations:

Amortization of net actuarial losses (2)	1,284	308	976	2,133	512	1,621


Total other comprehensive loss	($199,703)	($47,929)	($151,774)	($14,127)	($3,390)	($10,737)

(1)The pre-tax amounts are included in interest and fees on loans and FHLB interest expense in the Unaudited Consolidated Statements of Income.

(2)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 on Available For Sale Debt Securities	Net Unrealized Losses on Cash Flow Hedges	Net Unrealized Losses on Defined Benefit Plan Obligations	Total
For the three months ended September 30, 2022
Balance at June 30, 2022	($92,197)	($17,321)	($8,523)	($118,041)
Other comprehensive loss before reclassifications	(47,067)	(7,790)	—	(54,857)
Amounts reclassified from accumulated other comprehensive loss	—	817	326	1,143
Net other comprehensive (loss) income	(47,067)	(6,973)	326	(53,714)
Balance at September 30, 2022	($139,264)	($24,294)	($8,197)	($171,755)



(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 nine months ended September 30, 2022
Balance at December 31, 2021	($6,795)	($4,013)	($9,173)	($19,981)
Other comprehensive loss before reclassifications	(132,469)	(20,820)	—	(153,289)
Amounts reclassified from accumulated other comprehensive loss	—	539	976	1,515
Net other comprehensive (loss) income	(132,469)	(20,281)	976	(151,774)
Balance at September 30, 2022	($139,264)	($24,294)	($8,197)	($171,755)


(Dollars in thousands)	Net Unrealized Gains (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 three months ended September 30, 2021
Balance at June 30, 2021	$696	($1,080)	($14,744)	($15,128)
Other comprehensive income before reclassifications	(3,137)	(219)	—	(3,356)
Amounts reclassified from accumulated other comprehensive income (loss)	—	(184)	540	356
Net other comprehensive income	(3,137)	(403)	540	(3,000)
Balance at September 30, 2021	($2,441)	($1,483)	($14,204)	($18,128)



(Dollars in thousands)	Net Unrealized Gains (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 nine months ended September 30, 2021
Balance at December 31, 2020	$9,881	($1,447)	($15,825)	($7,391)
Other comprehensive income (loss) before reclassifications	(12,322)	(16)	—	(12,338)
Amounts reclassified from accumulated other comprehensive income (loss)	—	(20)	1,621	1,601
Net other comprehensive (loss) income	(12,322)	(36)	1,621	(10,737)
Balance at September 30, 2021	($2,441)	($1,483)	($14,204)	($18,128)