Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Components of Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income, both gross and net of tax, for the three months ended March 31, 2020 and 2019 (in thousands):

	Three months ended March 31,
	2020				2019
	Before Tax		Tax Effect	After Tax	Before Tax	Tax Effect	After Tax
Components of Other Comprehensive Income:
Unrealized gains on available for sale debt securities:
Net unrealized gains arising during the period	$	22,563	(5,817)	16,746	10,417	(2,839)	7,578
Reclassification adjustment for gains included in net income	—		—	—	—	—	—
Total	22,563		(5,817)	16,746	10,417	(2,839)	7,578
Unrealized losses on derivatives (cash flow hedges)	(7,697)		1,984	(5,713)	(432)	118	(314)
Amortization related to post-retirement obligations	112		(28)	84	(16)	4	(12)
Total other comprehensive income	$	14,978	(3,861)	11,117	9,969	(2,717)	7,252

Components of Accumulated Other Comprehensive Income, Net of Tax

The following tables present the changes in the components of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2020 and 2019 (in thousands):

	Changes in Accumulated Other Comprehensive Income (Loss) by Component, net of tax for the three months ended March 31,
	2020					2019
	Unrealized Gains on Available for Sale Debt Securities		Post- Retirement Obligations	Unrealized (Losses) Gains on Derivatives (cash flow hedges)	Accumulated Other Comprehensive Income	Unrealized (Losses) Gains on Available for Sale Debt Securities	Post-  Retirement Obligations	Unrealized Gains (Losses) on Derivatives (cash flow hedges)	Accumulated Other Comprehensive Loss
Balance at December 31,	$	8,746	(5,240)	315	3,821	(9,605)	(3,625)	894	(12,336)
Current - period other comprehensive income (loss)	16,746		84	(5,713)	11,117	7,578	(12)	(314)	7,252
Balance at March 31,	$	25,492	(5,156)	(5,398)	14,938	(2,027)	(3,637)	580	(5,084)

Summary of Reclassifications Out of Accumulated Other Comprehensive Income

The following tables summarize the reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of income for the three months ended March 31, 2020 and 2019 (in thousands):

	Reclassifications From Accumulated Other Comprehensive Income ("AOCI")
	Amount reclassified from AOCI for the three months ended March 31,			Affected line item in the Consolidated Statement of Income
	2020		2019
Details of AOCI:
Post-retirement obligations:
Amortization of actuarial losses	$	112	47	Compensation and employee benefits (1)
	(28)		(13)	Income tax expense
Total reclassification	$	84	34	Net of tax

⁽¹⁾ This item is included in the computation of net periodic benefit cost. See Note 6. Components of Net Periodic Benefit Cost.