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

3 Months Ended

Mar. 31, 2022

Changes in Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2022 and 2021. Amounts in parentheses indicate reductions to AOCI.


	Three Months Ended March 31, 2022
(amounts in thousands)	Unrealized Gains (Losses) on Available for Sale Securities (1)		Unrealized Gains (Losses) on Cash Flow Hedges (2)		Total
Balance - December 31, 2021	$	(4,980)	$	—	$	(4,980)



Unrealized gains (losses) arising during period, before tax	(78,858)		—		(78,858)
Income tax effect	20,503		—		20,503
Other comprehensive income (loss) before reclassifications	(58,355)		—		(58,355)
Reclassification adjustments for (gains) losses included in net income, before tax	1,063		—		1,063
Income tax effect	(276)		—		(276)
Amounts reclassified from accumulated other comprehensive income (loss) to net income	787		—		787
Net current-period other comprehensive income (loss)	(57,568)		—		(57,568)
Balance - March 31, 2022	$	(62,548)	$	—	$	(62,548)


	Three Months Ended March 31, 2021

(amounts in thousands)	Unrealized Gains (Losses) on Available for Sale Securities (1)		Unrealized Gains (Losses) on Cash Flow Hedges (2)		Total
Balance - December 31, 2020	$	23,312	$	(29,076)	$	(5,764)



Unrealized gains (losses) arising during period, before tax	400		12,315		12,715
Income tax effect	(104)		(3,202)		(3,306)
Other comprehensive income (loss) before reclassifications	296		9,113		9,409
Reclassification adjustments for (gains) losses included in net income, before tax	(23,566)		25,926		2,360
Income tax effect	6,127		(6,741)		(614)
Amounts reclassified from accumulated other comprehensive income (loss) to net income	(17,439)		19,185		1,746
Net current-period other comprehensive income (loss)	(17,143)		28,298		11,155
Balance - March 31, 2021	$	6,169	$	(778)	$	5,391

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

(2)Reclassification amounts for cash flow hedges are reported as interest expense for the applicable hedged items or loss on cash flow hedge derivative terminations on the consolidated statements of income.