ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2020

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

20. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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

	Year Ended December 31,
(In thousands)	2020		2019		2018
Unrealized holding gains (losses) on available for sale securities	$	9,069	$	15,524	$	(8,429)
Reclassification adjustments for (gains) losses realized in income		(3,525)		(201)		7,921
Income tax effect		(1,628)		(4,467)		160
Net change in unrealized gains (losses) on available for sale securities		3,916		10,856		(348)
Unrealized net losses arising during the period		(3,245)		(1,076)		(1,567)
Reclassification adjustments for amortization realized in income		581		487		384
Income tax effect		799		179		351
Net change in post-retirement obligation		(1,865)		(410)		(832)
Change in fair value of derivatives used for cash flow hedges		(10,455)		(3,601)		2,493
Reclassification adjustments for losses (gains) realized in income		5,016		(1,588)		(1,068)
Income tax effect		1,601		1,514		(418)
Net change in unrealized (losses) gains on cash flow hedges		(3,838)		(3,675)		1,007
Other comprehensive (loss) income	$	(1,787)	$	6,771	$	(173)

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

			Other
	December 31,		Comprehensive			December 31,
(In thousands)	2019		Income (Loss)			2020
Unrealized (losses) gains on available for sale securities	$	(829)	$	3,916	$	3,087
Unrealized losses on pension benefits		(6,775)		(1,865)		(8,640)
Unrealized losses on cash flow hedges		(737)		(3,838)		(4,575)
Accumulated other comprehensive loss, net of income taxes	$	(8,341)	$	(1,787)	$	(10,128)

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

	Year Ended December 31,						Affected Line Item in the
(In thousands)	2020		2019		2018		Consolidated Statements of Income
Realized gains (losses) on sale of available for sale securities	$	3,525	$	201	$	(7,921)	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)	Other operating expenses
Actuarial losses		(658)		(564)		(456)	Other operating expenses
Realized (losses) gains on cash flow hedges		(1,651)		1,588		1,068	Interest expense
Realized loss on the termination of swaps		(3,365)		—		—	Loss on termination of swaps
Total reclassifications, before income tax		(2,072)		1,302		(7,237)
Income tax benefit (expense)		606		(380)		2,105	Income tax expense
Total reclassifications, net of income tax	$	(1,466)	$	922	$	(5,132)