Other Comprehensive Income

3 Months Ended

Mar. 31, 2021

Statement of Other Comprehensive Income [Abstract]

The following tables present a reconciliation of the changes in the components of other comprehensive income (loss) for the dates indicated including the amount of income tax (expense) benefit allocated to each component of other comprehensive income (loss):


	Three Months Ended March 31, 2021						Three Months Ended March 31, 2020
	Pre-Tax Amount		Tax (Expense) Benefit		After Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After Tax Amount
	(Dollars In Thousands)
Unrealized (losses) gains on securities available for sale:
Change in fair value of securities available for sale	$	(94,979)	$	20,982	$	(73,997)	$	33,802	$	(7,515)	$	26,287
Less: reclassification adjustment for gains included in net income	1,164		(257)		907		122		(27)		95
Net change in fair value of securities available for sale	(96,143)		21,239		(74,904)		33,680		(7,488)		26,192
Unrealized gains (losses) on cash flow hedges:
Change in fair value of cash flow hedges	—		—		—		43,556		(12,244)		31,312
Less: net cash flow hedge losses reclassified into interest income(1)	8,274		(2,326)		5,948		3,112		(875)		2,237
Net change in fair value of cash flow hedges	(8,274)		2,326		(5,948)		40,444		(11,369)		29,075
Defined benefit pension plans:
Change in actuarial net loss	—		—		—		—		—		—
Less: amortization of actuarial net loss	(3,537)		994		(2,543)		—		—		—
Less: net accretion of prior service cost	2,945		(828)		2,117		—		—		—
Net change in other comprehensive income for defined benefit postretirement plans	592		(166)		426		—		—		—
Total other comprehensive income	$	(103,825)	$	23,399	$	(80,426)	$	74,124	$	(18,857)	$	55,267

(1)Represents amortization of realized gains on terminated cash flow hedges for the three months ended March 31, 2021. The total realized gain of $41.2 million, net of tax, will be recognized in earnings through January 2023. The balance of this gain had amortized to $23.9 million, net of tax, at March 31, 2021.

The following table illustrates the changes in the balances of each component of accumulated other comprehensive income (loss), net of tax:


	Unrealized Gains and (Losses) on Available for Sale Securities		Unrealized Gains and (Losses) on Cash Flow Hedges		Defined Benefit Pension Plans		Total
	(In Thousands)
Beginning Balance: January 1, 2021	$	45,672	$	29,815	$	(21,253)	$	54,234
Other comprehensive (loss) income before reclassifications	(73,997)		—		—		(73,997)
Less: Amounts reclassified from accumulated other comprehensive income	907		5,948		(426)		6,429
Net current-period other comprehensive income	(74,904)		(5,948)		426		(80,426)
Ending Balance: March 31, 2021	$	(29,232)	$	23,867	$	(20,827)	$	(26,192)
Beginning Balance: January 1, 2020	$	21,798	$	15,624	$	(81,269)	$	(43,847)
Other comprehensive income (loss) before reclassifications	26,287		31,312		—		57,599
Less: Amounts reclassified from accumulated other comprehensive income	95		2,237		—		2,332
Net current-period other comprehensive income	26,192		29,075		—		55,267
Ending Balance: March 31, 2020	$	47,990	$	44,699	$	(81,269)	$	11,420