ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

3 Months Ended

Mar. 31, 2019

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME.

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

14. ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

The following table summarizes the components of other comprehensive income (loss) and related income tax effects:

	Three Months Ended
(In thousands)	March 31, 2019		March 31, 2018
Unrealized holding gains (losses) on available for sale securities	$	5,531	$	(8,587)
Income tax effect		(1,613)		2,499
Net change in unrealized gains (losses) on available for sale securities		3,918		(6,088)
Reclassification adjustment for amortization realized in income		128		95
Income tax effect		(38)		(28)
Net change in post-retirement obligation		90		67
Change in fair value of derivatives used for cash flow hedges		(1,597)		2,827
Reclassification adjustment for (gains) losses realized in income		(556)		65
Income tax effect		628		(841)
Net change in unrealized (losses) gains on cash flow hedges		(1,525)		2,051
Other comprehensive income (loss)	$	2,483	$	(3,970)

The following is a summary of the accumulated other comprehensive loss balances, net of income taxes, at the dates indicated:

			Other
	December 31,		Comprehensive			March 31,
(In thousands)	2018		Income			2019
Unrealized (losses) gains on available for sale securities	$	(11,685)	$	3,918	$	(7,767)
Unrealized (losses) gains on pension benefits		(6,365)		90		(6,275)
Unrealized gains (losses) on cash flow hedges		2,938		(1,525)		1,413
Accumulated other comprehensive (loss) gain, net of income taxes	$	(15,112)	$	2,483	$	(12,629)

The following represents the reclassifications out of accumulated other comprehensive (loss) income for the three months ended March 31, 2019 and 2018:

	Three Months Ended				Affected Line Item
	March 31,		March 31,		in the Consolidated
(In thousands)	2019		2018		Statements of Income
Amortization of defined benefit pension plan and defined benefit plan component of the SERP:
Prior service credit		19		19	Other operating expenses
Transition obligation		—		(1)	Other operating expenses
Actuarial losses		(148)		(113)	Other operating expenses
Realized gains (losses) on cash flow hedges		556		(65)	Interest expense
Total reclassifications, before income tax	$	427	$	(160)
Income tax (expense) benefit		(125)		47	Income tax expense
Total reclassifications, net of income tax	$	302	$	(113)