Change in Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2019

CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

24. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive (loss) income includes unrealized gains and losses on available-for-sale investments, unrealized gains and losses on cash flow hedges, as well as unrecognized prior service costs, transition costs, and actuarial gains and losses on defined benefit pension plans. Changes to accumulated other comprehensive (loss) income are presented net of tax as a component of stockholders' equity. Amounts that are reclassified out of accumulated other comprehensive (loss) income are recorded on the Consolidated Statement of Income either as a gain or loss.

Changes to accumulated other comprehensive (loss) income by component are shown net of taxes in the following tables for the period indicated:


(Dollars in thousands)	Net change in investment securities available for sale		Net change in investment securities held to maturity		Net change in defined benefit plan		Net change in fair value of derivatives used for cash flow hedges		Total
Balance, December 31, 2016	$	(8,194)	$	1,392	$	957	$	(1,772)	$	(7,617)
Other comprehensive income (loss) before reclassifications	3,073		—		—		(184)		2,889
Less: Amounts reclassified from accumulated other comprehensive income (loss)	(1,280)		(394)		(90)		—		(1,764)
Net current-period other comprehensive income (loss)	1,793		(394)		(90)		(184)		1,125
Less: Reclassification due to the adoption of ASU No. 2018-02	(1,441)		225		(2)		(442)		(1,660)
Balance, December 31, 2017	$	(7,842)	$	1,223	$	865	$	(2,398)	$	(8,152)
Other comprehensive (loss) income before reclassifications	(6,695)		6		22		(56)		(6,723)
Less: Amounts reclassified from accumulated other comprehensive (loss) income	(16)		(450)		(53)		—		(519)
Net current-period other comprehensive loss	(6,711)		(444)		(31)		(56)		(7,242)
Balance, December 31, 2018	$	(14,553)	$	779	$	834	$	(2,454)	$	(15,394)
Other comprehensive income (loss) before reclassifications	41,733		(2)		(4,045)		1,877		39,563
Less: Amounts reclassified from accumulated other comprehensive income (loss)	(253)		(309)		(106)		—		(668)
Net current-period other comprehensive income (loss)	41,480		(311)		(4,151)		1,877		38,895
Balance, December 31, 2019	$	26,927	$	468	$	(3,317)	$	(577)	$	23,501

Components of other comprehensive income that impact the Consolidated Statements of Income are presented in the table below.


	Twelve Months Ended December 31,							Affected line item in Consolidated Statements of Income
(Dollars in thousands)	2019		2018		2017
Securities available for sale:
Realized gains on securities transactions	$	(333)	$	(21)	$	(1,984)	Securities gains, net
Income taxes	80		5		704		Income tax provision
Net of tax	$	(253)	$	(16)	$	(1,280)
Net unrealized holding gains on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized gains to income during the period	$	(407)	$	(586)	$	(635)	Interest and dividends on investment securities
Income taxes	98		136		241		Income tax provision
Net of tax	$	(309)	$	(450)	$	(394)
Amortization of Defined Benefit Pension Items:
Prior service costs (credits)⁽¹⁾	$	(76)	$	2	$	(76)

Actuarial losses	(63)		(45)		(70)
Total before tax	$	(139)	$	(43)	$	(146)	Salaries, benefits and other compensation
Income taxes	33		(10)		56		Income tax provision
Net of tax	$	(106)	$	(53)	$	(90)
Total reclassifications	$	(668)	$	(519)	$	(1,764)

⁽¹⁾ Prior service costs balance for the year ended December 31, 2018 includes a tax true-up adjustment of $0.1 million from March 31, 2018. Note that the tax true-up was made to the deferred tax asset with an offset to AOCI and does not affect the actual net periodic benefit costs of the pension plan.