Other Comprehensive Loss

12 Months Ended

Dec. 31, 2019

The following table presents the components of other comprehensive loss both gross and net of tax, for the years ended December 31, 2019, 2018 and 2017 (in thousands):


	For the Years Ended December 31,
	2019						2018				2017
	Before Tax		Tax Effect	After Tax	Before Tax	Tax Effect	After Tax	Before Tax	Tax Effect	After Tax
Components of Other Comprehensive Loss:
Unrealized losses on available for sale debt securities:
Net gains (losses) arising during the period	$	24,987	(6,636)	18,351	(8,425)	2,296	(6,129)	(3,612)	1,449	(2,163)
Reclassification adjustment for gains included in net income	—		—	—	—	—	—	—	—	—
Total	24,987		(6,636)	18,351	(8,425)	2,296	(6,129)	(3,612)	1,449	(2,163)




Unrealized (losses) gains on derivatives (cash flow hedges)	(780)		201	(579)	304	(83)	221	633	(254)	379
Amortization related to post-retirement obligations	(2,176)		561	(1,615)	1,678	(457)	1,221	(1,475)	586	(889)
Total other comprehensive loss	$	22,031	(5,874)	16,157	(6,443)	1,756	(4,687)	(4,454)	1,781	(2,673)

The following table presents the changes in the components of accumulated other comprehensive loss, net of tax, for the years ended December 31, 2019 and 2018, including the reclassification of unrealized gains on equity securities due to the adoption of ASU No. 2016-01 for the year ended December 31, 2018 (in thousands):


	Changes in Accumulated Other Comprehensive Loss by Component, net of tax For the Years Ended December 31,
	2019								2018
	Unrealized Gains (Losses) on Available for Sale Debt Securities		Post-Retirement Obligations	Unrealized Gains (Losses) on Derivatives (cash flow hedges)	Accumulated Other Comprehensive Gain (Loss)	Unrealized Losses on Available for Sale Debt Securities	Post-Retirement Obligations	Unrealized Gains on Derivatives (cash flow hedges)	Accumulated Other Comprehensive Loss
Balance at the beginning of the period	$	(9,605)	(3,625)	894	(12,336)	(3,292)	(4,846)	673	(7,465)
Current period change in other comprehensive income (loss)	18,351		(1,615)	(579)	16,157	(6,129)	1,221	221	(4,687)
Reclassification of unrealized gains on equity securities due to the adoption of ASU No. 2016-01	—		—	—	—	(184)	—	—	(184)

Balance at the end of the period	$	8,746	(5,240)	315	3,821	(9,605)	(3,625)	894	(12,336)

The following table summarizes the reclassifications out of accumulated other comprehensive (loss) income for the years ended December 31, 2019, 2018 and 2017 (in thousands):


	Reclassifications Out of Accumulated Other Comprehensive Income (Loss)
	Amount reclassified from AOCI for the years ended December 31,					Affected line item in the Consolidated Statement of Income
	2019		2018	2017
Details of AOCI:
Available for sale debt securities:
Realized net gains on the sale of securities available for sale	$	—	—	—	Net gain on securities transactions
	—		—	—	Income tax expense
	—		—	—	Net of tax










Post-retirement obligations:
Amortization of actuarial losses	189		399	243	Compensation and employee benefits ⁽¹⁾
	(49)		(109)	(64)	Income tax expense
	140		290	179	Net of tax




Total reclassifications	$	140	290	179	Net of tax

(1) This item is included in the computation of net periodic benefit cost. See Note 11. Benefit Plans