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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 12 Months Ended
Dec. 31, 2019
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

21. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

(In thousands)

    

2019

    

2018

    

2017

Unrealized holding gains (losses) on available for sale securities

 

$

15,524

  

$

(8,429)

  

$

(1,107)

Reclassification adjustments for (gains) losses realized in income

 

 

(201)

    

 

7,921

    

 

(38)

Income tax effect

 

 

(4,467)

 

 

160

 

 

640

Net change in unrealized gains (losses) on available for sale securities

 

 

10,856

 

 

(348)

 

 

(505)

 

 

 

 

 

 

 

 

 

 

Unrealized net loss arising during the period

 

 

(1,076)

 

 

(1,567)

 

 

(302)

Reclassification adjustments for amortization realized in income

 

 

487

 

 

384

 

 

480

Income tax effect

 

 

179

 

 

351

 

 

15

Net change in post-retirement obligation

 

 

(410)

 

 

(832)

 

 

193

 

 

 

 

 

 

 

 

 

 

Change in fair value of derivatives used for cash flow hedges

 

 

(3,601)

 

 

2,493

 

 

463

Reclassification adjustments for (gains) losses realized in income

 

 

(1,588)

 

 

(1,068)

 

 

1,419

Income tax effect

 

 

1,514

 

 

(418)

 

 

(793)

Net change in unrealized (losses) gains on cash flow hedges

 

 

(3,675)

 

 

1,007

 

 

1,089

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

$

6,771

  

$

(173)

  

$

777

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

December 31, 

 

Comprehensive

 

 

December 31, 

(In thousands)

    

2018

    

Income

    

 

2019

Unrealized (losses) gains on available for sale securities

 

$

(11,685)

 

$

10,856

 

$

(829)

Unrealized losses on pension benefits

 

 

(6,365)

 

 

(410)

 

 

(6,775)

Unrealized gains (losses) on cash flow hedges

 

 

2,938

 

 

(3,675)

 

 

(737)

Accumulated other comprehensive (loss) income, net of income taxes

 

$

(15,112)

 

$

6,771

 

$

(8,341)

 

The following represents the reclassifications out of accumulated other comprehensive (loss) income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

Affected Line Item in the 

(In thousands)

    

2019

    

2018

    

2017

    

Consolidated Statements of Income

Realized gains (losses) on sale of available for sale securities

 

$  

201

 

$

(7,921)

 

$

38

  

Net securities gains (losses)

Amortization of defined benefit pension plan and defined benefit plan component of the SERP:

 

 

  

 

 

  

 

 

  

  

 

Prior service credit

 

 

77

 

 

77

 

 

77

  

Other operating expenses

Transition obligation

 

 

 —

 

 

(5)

 

 

(27)

  

Other operating expenses

Actuarial losses

 

 

(564)

 

 

(456)

 

 

(530)

  

Other operating expenses

Realized gains (losses) on cash flow hedges

 

 

1,588

 

 

1,068

 

 

(1,419)

  

Interest expense

Total reclassifications, before income tax

 

 

1,302

 

 

(7,237)

 

 

(1,861)

  

 

Income tax (expense) benefit

 

 

(380)

 

 

2,105

 

 

762

  

Income tax expense

Total reclassifications, net of income tax

 

$  

922

 

$

(5,132)

 

$

(1,099)