2019

2018

Pre-tax

Tax

expense/

(benefit)

Net-of-tax

Pre-tax

Tax

expense/

(benefit)

Net-of-tax

(In thousands)

Beginning balance, loss, net of tax

Securities available-for-sale

$

(17,765

)

$

(1,060

)

Cash flow hedge derivatives

(241

)

(1,451

)

Total

$

(18,006

)

$

(2,511

)

Reclassification adjustment for stranded tax effects of Tax Cuts and Jobs Act ⁽¹⁾

Securities available-for-sale

—

200

(200

)

Cash flow hedge derivatives

—

315

(315

)

Total

—

515

(515

)

Reclassification adjustment for equity securities ⁽²⁾

Equity securities

—

(12,147

)

(3,591

)

(8,556

)

Net unrealized gains/(losses) arising during the period

Securities available-for-sale

$

33,543

$

9,915

$

23,628

$

(11,263

)

$

(3,329

)

$

(7,934

)

Cash flow hedge derivatives

(4,502

)

(1,331

)

(3,171

)

2,165

640

1,525

Total

29,041

8,584

20,457

(9,098

)

(2,689

)

(6,409

)

Reclassification adjustment for net gains in net income

Securities available-for-sale

(211

)

(62

)

(149

)

(22

)

(7

)

(15

)

Cash flow hedge derivatives

—

Total

(211

)

(62

)

(149

)

(22

)

(7

)

(15

)

Total other comprehensive income/(loss)

Securities available-for-sale

33,332

9,853

23,479

(11,285

)

(3,336

)

(7,949

)

Cash flow hedge derivatives

(4,502

)

(1,331

)

(3,171

)

2,165

640

1,525

Total

$

28,830

$

8,522

$

20,308

$

(9,120

)

$

(2,696

)

$

(6,424

)

Ending balance, gain/(loss), net of tax

Securities available-for-sale

$

5,714

$

(17,765

)

Cash flow hedge derivatives

(3,412

)

(241

)

Total

$

2,302

$

(18,006

)