Comprehensive Income/(Loss)

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Comprehensive Income/(Loss)

NOTE 9. COMPREHENSIVE INCOME/(LOSS)

The activity in accumulated other comprehensive income for the three months ended March 31, 2021 and 2020 is as follows:

	Accumulated Other Comprehensive Income/(Loss) (1)
(unaudited, in thousands)	Defined Benefit Plans			Unrealized Gains (Losses) on Debt Securities Available-for-Sale			Unrealized Gains on Debt Securities Transferred from Available-for-Sale to Held-to-Maturity			Total
Balance at December 31, 2020	$	(15,502	)	$	46,861		$	—		$	31,359
Other comprehensive income/(loss) before reclassifications		—			(22,026	)		—			(22,026	)
Amounts reclassified from accumulated other comprehensive    income/(loss)		472			(2	)		—			470
Period change		472			(22,028	)		—			(21,556	)
Balance at March 31, 2021	$	(15,030	)	$	24,833		$	—		$	9,803
Balance at December 31, 2019	$	(17,468	)	$	18,644		$	25		$	1,201
Other comprehensive income/(loss) before reclassifications	—				41,116		—				41,116
Amounts reclassified from accumulated other comprehensive    income/(loss)		569			(1,743	)		(2	)		(1,176	)
Period change		569			39,373			(2	)		39,940
Balance at March 31, 2020	$	(16,899	)	$	58,017		$	23		$	41,141

⁽¹⁾ All amounts are net of tax.  Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

The following table provides details about amounts reclassified from accumulated other comprehensive income for the three months ended March 31, 2021 and 2020:

Details about Accumulated Other Comprehensive Income/(Loss) Components	For the Three Months Ended March 31,						Affected Line Item in the Statement of Comprehensive Income
(unaudited, in thousands)	2021			2020
Debt securities available-for-sale (1):
Net securities gains reclassified into earnings	$	(3	)	$	(2,287	)	Net securities gains (Non-interest income)
Related income tax expense ⁽²⁾		1			544		Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		(2	)		(1,743	)
Debt securities held-to-maturity (1):
Amortization of unrealized gain transferred from    available-for-sale		—			(3	)	Interest and dividends on securities (Interest and dividend income)
Related income tax expense ⁽²⁾		—			1		Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		—			(2	)
Defined benefit plans (3):
Amortization of net loss and prior service costs		622			746		Employee benefits (Non-interest expense)
Related income tax benefit ⁽²⁾		(150	)		(177	)	Provision for income taxes
Net effect on accumulated other comprehensive    income for the period		472			569
Total reclassifications for the period	$	470		$	(1,176	)

^{(1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 3, “Securities.”}

⁽²⁾ Income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 24% in both periods presented.

⁽³⁾ Included in the computation of net periodic pension cost. See Note 6, “Benefit Plans” for additional detail.