Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2021

Accumulated Other Comprehensive Income (Loss) [Abstract]

The following table shows changes in accumulated other comprehensive income (loss) by component for the periods indicated:


	Unrealized Gains and Losses on Available for Sale Securities (1)		Unrealized Gains and Losses on Pension Plan Liability (1)		Unrealized Gains and Losses on Hedging Instruments (1)		Total (1)
Three Months Ended June 30, 2021	(in thousands)
Beginning balance	$	60,569	$	(5,718)	$	22,877	$	77,728
Other comprehensive income (loss) before reclassifications	21,850		—		—		21,850
Amounts reclassified from accumulated other comprehensive income (2)	(586)		115		(1,998)		(2,469)
Net current-period other comprehensive income (loss)	21,264		115		(1,998)		19,381
Ending balance	$	81,833	$	(5,603)	$	20,879	$	97,109
Three Months Ended June 30, 2020
Beginning balance	$	112,543	$	(3,894)	$	28,558	$	137,207

Other comprehensive income before reclassifications	42,860		—		2,611		45,471
Amounts reclassified from accumulated other comprehensive income (2)	—		79		(1,680)		(1,601)
Net current-period other comprehensive income	42,860		79		931		43,870
Ending balance	$	155,403	$	(3,815)	$	29,489	$	181,077
Six Months Ended June 30, 2021
Beginning balance	$	163,174	$	(5,833)	$	24,854	$	182,195
Other comprehensive income (loss) before reclassifications	(80,755)		—		—		(80,755)
Amounts reclassified from accumulated other comprehensive income (2)	(586)		230		(3,975)		(4,331)
Net current-period other comprehensive income (loss)	(81,341)		230		(3,975)		(85,086)
Ending balance	$	81,833	$	(5,603)	$	20,879	$	97,109
Six Months Ended June 30, 2020
Beginning balance	$	33,038	$	(3,974)	$	11,303	$	40,367

Other comprehensive income before reclassifications	122,556		—		20,588		143,144
Amounts reclassified from accumulated other comprehensive income (2)	(191)		159		(2,402)		(2,434)
Net current-period other comprehensive income	122,365		159		18,186		140,710
Ending balance	$	155,403	$	(3,815)	$	29,489	$	181,077

__________

(1) All amounts are net of tax. Amounts in parentheses indicate debits.

(2) See following table for details about these reclassifications.

The following table shows details regarding the reclassifications from accumulated other comprehensive income (loss) for the periods indicated:


	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
	Three Months Ended June 30,				Six Months Ended June 30,				Affected line Item in the Consolidated
	2021		2020		2021		2020		Statement of Income
	(in thousands)
Unrealized gains on available for sale debt securities	$	314	$	—	$	314	$	249	Investment securities gains, net
Amortization of unrealized gains related to securities transfer	450		—		450		—		Loan interest income
	764		—		764		249		Total before tax
	(178)		—		(178)		(58)		Income tax provision
	$	586	$	—	$	586	$	191	Net of tax

Amortization of pension plan liability actuarial losses	$	(149)	$	(103)	$	(299)	$	(207)	Compensation and employee benefits
	(149)		(103)		(299)		(207)		Total before tax
	34		24		69		48		Income tax provision
	$	(115)	$	(79)	$	(230)	$	(159)	Net of tax

Unrealized gains from hedging instruments	$	2,602	$	2,190	$	5,178	$	3,130	Loans
	2,602		2,190		5,178		3,130		Total before tax
	(604)		(510)		(1,203)		(728)		Income tax provision
	$	1,998	$	1,680	$	3,975	$	2,402	Net of tax