Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2022

Accumulated Other Comprehensive Income (Loss)

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 March 31, 2022	(in thousands)
Beginning balance	$	23,134	$	(4,812)	$	16,840	$	35,162
Other comprehensive loss before reclassifications	(259,988)		—		—		(259,988)
Amounts reclassified from accumulated other comprehensive income (2)	(1,076)		101		(1,976)		(2,951)
Net current-period other comprehensive income (loss)	(261,064)		101		(1,976)		(262,939)
Ending balance	$	(237,930)	$	(4,711)	$	14,864	$	(227,777)
Three Months Ended March 31, 2021
Beginning balance	$	163,174	$	(5,833)	$	24,854	$	182,195
Other comprehensive loss before reclassifications	(102,605)		—		—		(102,605)
Amounts reclassified from accumulated other comprehensive income (2)	—		115		(1,977)		(1,862)
Net current-period other comprehensive income (loss)	(102,605)		115		(1,977)		(104,467)
Ending balance	$	60,569	$	(5,718)	$	22,877	$	77,728

__________

(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 March 31,				Affected line Item in the Consolidated
	2022		2021			Statement of Income

	(in thousands)

Amortization of unrealized gains related to securities transfer	1,402		—			Taxable securities
	1,402		—			Total before tax
	(326)		—			Income tax provision
	$	1,076	$	—		Net of tax

Amortization of pension plan liability actuarial losses	$	(131)	$	(150)		Compensation and employee benefits
	(131)		(150)			Total before tax
	30		35			Income tax provision
	$	(101)	$	(115)		Net of tax

Unrealized gains from hedging instruments	$	2,575	$	2,576		Loans
	2,575		2,576			Total before tax
	(599)		(599)			Income tax provision
	$	1,976	$	1,977		Net of tax