Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2021

Other Comprehensive Income (Loss)The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the following table. Reclassification adjustments related to securities available for sale are included in net gain (loss) on securities transactions in the accompanying consolidated statements of income. Reclassification adjustments related to defined-benefit post-retirement benefit plans are included in the computation of net periodic pension expense (see Note 12 – Defined Benefit Plans).


	Three Months Ended September 30, 2021						Three Months Ended September 30, 2020
	Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount		Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(80,668)	$	(16,941)	$	(63,727)	$	20,332	$	4,269	$	16,063
Change in net unrealized gain on securities transferred to held to maturity	(237)		(49)		(188)		(294)		(62)		(232)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		—		—		—
Total securities available for sale and transferred securities	(80,905)		(16,990)		(63,915)		20,038		4,207		15,831
Defined-benefit post-retirement benefit plans:

Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	1,529		321		1,208		1,330		280		1,050
Total defined-benefit post-retirement benefit plans	1,529		321		1,208		1,330		280		1,050
Total other comprehensive income (loss)	$	(79,376)	$	(16,669)	$	(62,707)	$	21,368	$	4,487	$	16,881


	Nine Months Ended September 30, 2021						Nine Months Ended September 30, 2020
	Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount		Before Tax Amount		Tax Expense, (Benefit)		Net of Tax Amount
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(209,779)	$	(44,054)	$	(165,725)	$	406,959	$	85,462	$	321,497
Change in net unrealized gain on securities transferred to held to maturity	(741)		(155)		(586)		(979)		(206)		(773)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		(108,989)		(22,888)		(86,101)
Total securities available for sale and transferred securities	(210,520)		(44,209)		(166,311)		296,991		62,368		234,623
Defined-benefit post-retirement benefit plans:

Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	4,587		963		3,624		3,989		837		3,152
Total defined-benefit post-retirement benefit plans	4,587		963		3,624		3,989		837		3,152
Total other comprehensive income (loss)	$	(205,933)	$	(43,246)	$	(162,687)	$	300,980	$	63,205	$	237,775

Activity in accumulated other comprehensive income (loss), net of tax, was as follows:


	Securities Available For Sale		Defined Benefit Plans		Accumulated Other Comprehensive Income
Balance January 1, 2021	$	563,801	$	(50,831)	$	512,970
Other comprehensive income (loss) before reclassifications	(166,311)		—		(166,311)
Reclassification of amounts included in net income	—		3,624		3,624
Net other comprehensive income (loss) during period	(166,311)		3,624		(162,687)
Balance at September 30, 2021	$	397,490	$	(47,207)	$	350,283

Balance January 1, 2020	$	313,304	$	(45,934)	$	267,370
Other comprehensive income (loss) before reclassifications	320,724		—		320,724
Reclassification of amounts included in net income	(86,101)		3,152		(82,949)
Net other comprehensive income (loss) during period	234,623		3,152		237,775

Balance at September 30, 2020	$	547,927	$	(42,782)	$	505,145