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Accumulated Other Comprehensive Income (Loss) ("AOCIL")
 3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) ("AOCIL") [Abstract]  
Accumulated Other Comprehensive Income (Loss) ("AOCIL")
14.
Accumulated Other Comprehensive Income (Loss) (“AOCIL”)

A summary of changes in AOCIL follows:

  
Unrealized
Gains on
Securities
Available
for Sale
    
Dispropor-
tionate
Tax Effects
from
Securities
Available
for Sale
    
Unrealized
Losses on
Cash Flow
Hedges
    
Total
  
   
(In thousands)
  
                         
For the three months ended March 31, 2021
                        
Balances at beginning of period
  
$
15,822
    
$
(5,798
)
  
$
-
    
$
10,024
  
Other comprehensive loss before reclassifications
    
(6,805
)
    
-
      
-
      
(6,805
)
Amounts reclassified from AOCIL
    
1,119
      
-
      
-
      
1,119
  
Net current period other comprehensive loss
    
(5,686
)
    
-
      
-
      
(5,686
)
Balances at end of period
  
$
10,136
    
$
(5,798
)
  
$
-
    
$
4,338
  
                                 
2020
                                
Balances at beginning of period
  
$
3,739
    
$
(5,798
)
  
$
(1,727
)
  
$
(3,786
)
Other comprehensive loss before reclassifications
    
(606
)
    
-
      
(321
)
    
(927
)
Amounts reclassified from AOCIL
    
(200
)
    
-
      
59
      
(141
)
Net current period other comprehensive loss
    
(806
)
    
-
      
(262
)
    
(1,068
)
Balances at end of period
  
$
2,933
    
$
(5,798
)
  
$
(1,989
)
  
$
(4,854
)

The disproportionate tax effects from securities available for sale arose due to tax effects of other comprehensive income (“OCI”) in the presence of a valuation allowance against our deferred tax assets and a pretax loss from operations.  Generally, the amount of income tax expense or benefit allocated to operations is determined without regard to the tax effects of other categories of income or loss, such as OCI. However, an exception to the general rule is provided when, in the presence of a valuation allowance against deferred tax assets, there is a pretax loss from operations and pretax income from other categories in the current period.  In such instances, income from other categories must offset the current loss from operations, the tax benefit of such offset being reflected in operations. Release of material disproportionate tax effects from other comprehensive income to earnings is done by the portfolio method whereby the effects will remain in AOCIL as long as we carry a more than inconsequential portfolio of securities available for sale.

A summary of reclassifications out of each component of AOCIL for the three months ended March 31 follows:

AOCIL Component
  
Amount
Reclassified
From
AOCIL
  
 Affected Line Item in Condensed
 Consolidated Statements of Operations
 
  
(In thousands)
  
 
2021
         
Unrealized gains on securities available for sale
      
   
 
  
$
1,416
  
 Net gains on securities available for sale
 
    
297
  
 Income tax expense
 
  
$
1,119
  
 Reclassifications, net of tax
 
        
     
2020
           
Unrealized gains on securities available for sale
        
   
 
  
$
253
  
 Net gains on securities available for sale
 
    
-
  
 Net impairment loss recognized in earnings
 
    
253
  
 Total reclassifications before tax
 
    
53
  
 Income tax expense
 
  
$
200
  
 Reclassifications, net of tax
 
        
     
Unrealized losses on cash flow hedges
        
   
 
  
$
75
  
 Interest expense
 
    
16
  
 Income tax expense
 
  
$
59
  
 Reclassification, net of tax
 
        
     
 
  
$
141
  
 Total reclassifications for the period, net of tax