Changes In Accumulated Other Comprehensive Income (Loss) By Component (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2019 and 2018. Amounts in parentheses indicate reductions to accumulated other comprehensive income (loss).


	Available for Sale Securities
(amounts in thousands)	Unrealized Gains (Losses)		Foreign Currency Items		Total Unrealized Gains (Losses) ⁽²⁾		Unrealized Gains (Losses) on Cash Flow Hedges ⁽³⁾		Total
Balance, December 31, 2017	$	(249)	$	88	$	(161)	$	(198)	$	(359)
Reclassification of the income tax effects of the Tax Cuts and Jobs Act ⁽¹⁾	(256)		—		(256)		(42)		(298)
Reclassification of the net unrealized gains on equity securities ⁽¹⁾	(953)		(88)		(1,041)		—		(1,041)
Balance after reclassification adjustments on January 1, 2018	(1,458)		—		(1,458)		(240)		(1,698)
Current period:
Unrealized gains (losses) arising during period, before tax	(46,069)		—		(46,069)		1,995		(44,074)
Income tax effect	11,978		—		11,978		(518)		11,460
Other comprehensive income (loss) before reclassifications	(34,091)		—		(34,091)		1,477		(32,614)
Reclassification adjustments for losses (gains) included in net income, before tax	18,659		—		18,659		(2,917)		15,742
Income tax effect	(4,851)		—		(4,851)		758		(4,093)
Amounts reclassified from accumulated other comprehensive income (loss) to net income	13,808		—		13,808		(2,159)		11,649
Net current-period other comprehensive income (loss)	(20,283)		—		(20,283)		(682)		(20,965)
Balance, December 31, 2018	(21,741)		—		(21,741)		(922)		(22,663)



Current period:
Unrealized gains (losses) arising during period, before tax	49,688		—		49,688		(21,157)		28,531
Income tax effect	(12,919)		—		(12,919)		5,501		(7,418)
Other comprehensive income (loss) before reclassifications	36,769		—		36,769		(15,656)		21,113
Reclassification adjustments for losses (gains) included in net income, before tax	(1,001)		—		(1,001)		1,407		406
Income, tax effect	260		—		260		(366)		(106)
Amounts reclassified from accumulated other comprehensive income (loss) to net income	(741)		—		(741)		1,041		300
Net current-period other comprehensive income (loss)	36,028		—		36,028		(14,615)		21,413
Balance, December 31, 2019	$	14,287	$	—	$	14,287	$	(15,537)	$	(1,250)

(1)Amounts reclassified from accumulated other comprehensive income (loss) on January 1, 2018 as a result of the adoption of ASU 2018-02 and ASU 2016-01 resulted in a decrease in accumulated other comprehensive income of $1.3 million and a corresponding increase in retained earnings for the same amount.

(2)Reclassification amounts for available for sale debt securities are reported as gain or loss on sale of investment securities on the consolidated statements of income.

(3)Reclassification amounts for cash flow hedges are reported as interest expense for the applicable hedged items on the consolidated statements of income or other non-interest income on the consolidated statements of income for gains recognized from the discontinuance of cash flow hedge accounting for certain interest rate swaps. No cash flow hedges were discontinued during the year ended December 31, 2019. During the year ended December 31, 2018, a reclassification amount of $95 thousand ($70 thousand net of taxes) was reported as a reduction to interest expense on FHLB advances on the consolidated statements of income and a reclassification amount of $2.8 million ($2.1 million net of taxes) was reported as other non-interest income on the consolidated statements of income from the discontinuance of cash flow hedge accounting for certain interest rate swaps.