ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

3 Months Ended

Mar. 31, 2020

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

13. ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

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

	Three Months Ended
	March 31,		March 31,
(In thousands)	2020		2019
Unrealized holding gains on available for sale securities	$	5,813	$	5,531
Reclassification adjustments for losses realized in income		15		—
Income tax effect		(1,704)		(1,613)
Net change in unrealized gains on available for sale securities		4,124		3,918
Reclassification adjustments for amortization realized in income		138		128
Income tax effect		(40)		(38)
Net change in post-retirement obligation		98		90
Change in fair value of derivatives used for cash flow hedges		(9,510)		(1,597)
Reclassification adjustments for gains realized in income		(110)		(556)
Income tax effect		2,813		628
Net change in unrealized losses on cash flow hedges		(6,807)		(1,525)
Other comprehensive (loss) income	$	(2,585)	$	2,483

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)	2019		Income			2020
Unrealized (losses) gains on available for sale securities	$	(829)	$	4,124	$	3,295
Unrealized (losses) gains on pension benefits		(6,775)		98		(6,677)
Unrealized losses on cash flow hedges		(737)		(6,807)		(7,544)
Accumulated other comprehensive loss, net of income taxes	$	(8,341)	$	(2,585)	$	(10,926)

The following represents the reclassifications out of accumulated other comprehensive (loss) income for the three months ended March 31, 2020 and 2019:

	Three Months Ended				Affected Line Item
	March 31,		March 31,		in the Consolidated
(In thousands)	2020		2019		Statements of Income
Realized losses on sale of available for sale securities	$	(15)	$	—	Net securities gains (losses)
Amortization of defined benefit pension plan and defined benefit plan component of the SERP:
Prior service credit		19		19	Other operating expenses
Actuarial losses		(157)		(148)	Other operating expenses
Realized gains on cash flow hedges		110		556	Interest expense
Total reclassifications, before income tax	$	(43)	$	427
Income tax expense (benefit)		13		(125)	Income tax expense
Total reclassifications, net of income tax	$	(30)	$	302