Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2021

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

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 September 30, 2021	(in thousands)
Beginning balance	$	81,833	$	(5,603)	$	20,879	$	97,109
Other comprehensive loss before reclassifications	(22,022)		—		—		(22,022)
Amounts reclassified from accumulated other comprehensive income (2)	(465)		114		(2,019)		(2,370)
Net current-period other comprehensive income (loss)	(22,487)		114		(2,019)		(24,392)
Ending balance	$	59,346	$	(5,489)	$	18,860	$	72,717
Three Months Ended September 30, 2020
Beginning balance	$	155,403	$	(3,815)	$	29,489	$	181,077
Other comprehensive loss before reclassifications	(1,442)		—		(62)		(1,504)
Amounts reclassified from accumulated other comprehensive income (2)	—		80		(2,052)		(1,972)
Net current-period other comprehensive income (loss)	(1,442)		80		(2,114)		(3,476)
Ending balance	$	153,961	$	(3,735)	$	27,375	$	177,601
Nine Months Ended September 30, 2021
Beginning balance	$	163,174	$	(5,833)	$	24,854	$	182,195
Other comprehensive loss before reclassifications	(102,777)		—		—		(102,777)
Amounts reclassified from accumulated other comprehensive income (2)	(1,051)		344		(5,994)		(6,701)
Net current-period other comprehensive income (loss)	(103,828)		344		(5,994)		(109,478)
Ending balance	$	59,346	$	(5,489)	$	18,860	$	72,717
Nine Months Ended September 30, 2020
Beginning balance	$	33,038	$	(3,974)	$	11,303	$	40,367
Other comprehensive income before reclassifications	121,114		—		20,526		141,640
Amounts reclassified from accumulated other comprehensive income (2)	(191)		239		(4,454)		(4,406)
Net current-period other comprehensive income	120,923		239		16,072		137,234
Ending balance	$	153,961	$	(3,735)	$	27,375	$	177,601

__________

(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 September 30,				Nine Months Ended September 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	$	249	Investment securities gains, net
Amortization of unrealized gains related to securities transfer	606		—		1,056		—		Loan interest income
	606		—		1,370		249		Total before tax
	(141)		—		(319)		(58)		Income tax provision
	$	465	$	—	$	1,051	$	191	Net of tax
Amortization of pension plan liability actuarial losses	$	(149)	$	(104)	$	(448)	$	(311)	Compensation and employee benefits
	(149)		(104)		(448)		(311)		Total before tax
	35		24		104		72		Income tax provision
	$	(114)	$	(80)	$	(344)	$	(239)	Net of tax
Unrealized gains from hedging instruments	$	2,631	$	2,673	$	7,809	$	5,803	Loans
	2,631		2,673		7,809		5,803		Total before tax
	(612)		(621)		(1,815)		(1,349)		Income tax provision
	$	2,019	$	2,052	$	5,994	$	4,454	Net of tax