Other Comprehensive (Loss) Income

6 Months Ended

Jun. 30, 2020

The following table presents the components of other comprehensive (loss) income, both gross and net of tax, for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Three months ended June 30,
	2020						2019
	Before Tax		Tax Effect	After Tax	Before Tax	Tax Effect	After Tax
Components of Other Comprehensive Income:
Unrealized gains and losses on available for sale debt securities:
Net unrealized (losses) gains arising during the period	$	(1,252)	322	(930)	13,281	(3,619)	9,662
Reclassification adjustment for gains included in net income	—		—	—	—	—	—
Total	(1,252)		322	(930)	13,281	(3,619)	9,662
Unrealized losses on derivatives (cash flow hedges)	(1,730)		446	(1,284)	(874)	238	(636)
Amortization related to post-retirement obligations	95		(25)	70	47	(13)	34
Total other comprehensive (loss) income	$	(2,887)	743	(2,144)	12,454	(3,394)	9,060


	Six months ended June 30,
	2020						2019
	Before Tax		Tax Effect	After Tax	Before Tax	Tax Effect	After Tax
Components of Other Comprehensive Income:
Unrealized gains and losses on available for sale debt securities:
Net unrealized gains arising during the period	$	21,310	(5,494)	15,816	23,698	(6,458)	17,240
Reclassification adjustment for gains included in net income	—		—	—	—	—	—
Total	21,310		(5,494)	15,816	23,698	(6,458)	17,240
Unrealized losses on derivatives (cash flow hedges)	(9,427)		2,430	(6,997)	(1,306)	356	(950)
Amortization related to post-retirement obligations	207		(53)	154	30	(8)	22
Total other comprehensive income	$	12,090	(3,117)	8,973	22,422	(6,110)	16,312

The following tables present the changes in the components of accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Changes in Accumulated Other Comprehensive Income (Loss) by Component, net of tax for the three months ended June 30,
	2020								2019
	Unrealized Gains (Losses) on Available for Sale Debt Securities		Post- Retirement Obligations	Unrealized Losses on Derivatives (cash flow hedges)	Accumulated Other Comprehensive Income (Loss)	Unrealized Gains (Losses) on Available for Sale Debt Securities	Post- Retirement Obligations	Unrealized Gains (Losses) on Derivatives (cash flow hedges)	Accumulated Other Comprehensive(Loss) Income
Balance at March 31,	$	25,492	(5,156)	(5,398)	14,938	(2,027)	(3,637)	580	(5,084)
Current - period other comprehensive (loss) income	(930)		70	(1,284)	(2,144)	9,662	34	(636)	9,060
Balance at June 30,	$	24,562	(5,086)	(6,682)	12,794	7,635	(3,603)	(56)	3,976


	Changes in Accumulated Other Comprehensive Income (Loss) by Component, net of tax for the six months ended June 30,
	2020								2019
	Unrealized Gains on Available for Sale Debt Securities		Post- Retirement Obligations	Unrealized Gains (Losses) on Derivatives (cash flow hedges)	Accumulated Other Comprehensive Income	Unrealized Gains (Losses) on Available for Sale Debt Securities	Post- Retirement Obligations	Unrealized Gains (Losses) on Derivatives (cash flow hedges)	Accumulated Other Comprehensive(Loss) Income
Balance at December 31,	$	8,746	(5,240)	315	3,821	(9,605)	(3,625)	894	(12,336)
Current - period other comprehensive income	15,816		154	(6,997)	8,973	17,240	22	(950)	16,312

Balance at June 30,	$	24,562	(5,086)	(6,682)	12,794	7,635	(3,603)	(56)	3,976

The following tables summarize the reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of income for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Reclassifications From Accumulated Other Comprehensive Income ("AOCI")
	Amount reclassified from AOCI for the three months ended June 30,				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⁾
	(29)		(13)	Income tax expense
Total reclassification	$	83	34	Net of tax


	Reclassifications From Accumulated Other Comprehensive Income ("AOCI")
	Amount reclassified from AOCI for the six months ended June 30,				Affected line item in the Consolidated Statement of Income
	2020		2019
Details of AOCI:










Post-retirement obligations:
Amortization of actuarial losses	$	224	94	Compensation and employee benefits ⁽¹⁾
	(58)		(26)	Income tax expense
Total reclassification	$	166	68	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.