XML 38 R29.htm IDEA: XBRL DOCUMENT v3.22.2
Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2022
Comprehensive Income Net Of Tax [Abstract]  
Components of Other Comprehensive Income

The following table presents the components of other comprehensive income (loss) for the three and six months ended June 30, 2022, and June 30, 2021:

 

(dollars in thousands)

 

Before Tax

 

 

Tax Effect

 

 

Net of Tax

 

Three Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Net Unrealized Gains (Losses) on Investment Securities:

 

 

 

 

 

 

 

 

 

 

 

 

Net Unrealized Gains (Losses) Arising During the Period

 

$

(166,878

)

 

$

(44,233

)

 

$

(122,645

)

Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)

   that (Increase) Decrease Net Income:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Unrealized Holding (Gains) Losses on Held-to-

   Maturity Securities 1

 

 

(3

)

 

 

(1

)

 

 

(2

)

Net Unrealized Gains (Losses) on Investment Securities

 

 

(166,881

)

 

 

(44,234

)

 

 

(122,647

)

Defined Benefit Plans:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Net Actuarial Losses (Gains)

 

 

542

 

 

 

145

 

 

 

397

 

Amortization of Prior Service Credit

 

 

(61

)

 

 

(16

)

 

 

(45

)

Defined Benefit Plans, Net

 

 

481

 

 

 

129

 

 

 

352

 

Other Comprehensive Income (Loss)

 

$

(166,400

)

 

$

(44,105

)

 

$

(122,295

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Net Unrealized Gains (Losses) on Investment Securities:

 

 

 

 

 

 

 

 

 

 

 

 

Net Unrealized Gains (Losses) Arising During the Period

 

$

3,129

 

 

$

848

 

 

$

2,281

 

Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)

   that (Increase) Decrease Net Income:

 

 

 

 

 

 

 

 

 

 

 

 

(Gain) Loss on Sale

 

 

(3,675

)

 

 

(992

)

 

 

(2,683

)

Amortization of Unrealized Holding (Gains) Losses on Held-to-

   Maturity Securities 1

 

 

380

 

 

 

101

 

 

 

279

 

Net Unrealized Gains (Losses) on Investment Securities

 

 

(166

)

 

 

(43

)

 

 

(123

)

Defined Benefit Plans:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Net Actuarial Losses (Gains)

 

 

661

 

 

 

174

 

 

 

487

 

Amortization of Prior Service Credit

 

 

(62

)

 

 

(17

)

 

 

(45

)

Defined Benefit Plans, Net

 

 

599

 

 

 

157

 

 

 

442

 

Other Comprehensive Income (Loss)

 

$

433

 

 

$

114

 

 

$

319

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Net Unrealized Gains (Losses) on Investment Securities:

 

 

 

 

 

 

 

 

 

 

 

 

Net Unrealized Gains (Losses) Arising During the Period

 

$

(412,026

)

 

$

(109,208

)

 

$

(302,818

)

Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)

   that (Increase) Decrease Net Income:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Unrealized Holding (Gains) Losses on Held-to-

   Maturity Securities 1

 

 

63

 

 

 

16

 

 

 

47

 

Net Unrealized Gains (Losses) on Investment Securities

 

 

(411,963

)

 

 

(109,192

)

 

 

(302,771

)

Defined Benefit Plans:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Net Actuarial Losses (Gains)

 

 

1,084

 

 

 

288

 

 

 

796

 

Amortization of Prior Service Credit

 

 

(123

)

 

 

(32

)

 

 

(91

)

Defined Benefit Plans, Net

 

 

961

 

 

 

256

 

 

 

705

 

Other Comprehensive Income (Loss)

 

$

(411,002

)

 

$

(108,936

)

 

$

(302,066

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Net Unrealized Gains (Losses) on Investment Securities:

 

 

 

 

 

 

 

 

 

 

 

 

Net Unrealized Gains (Losses) Arising During the Period

 

$

(65,097

)

 

$

(17,235

)

 

$

(47,862

)

Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)

   that (Increase) Decrease Net Income:

 

 

 

 

 

 

 

 

 

 

 

 

(Gain) Loss on Sale

 

 

(3,675

)

 

 

(992

)

 

 

(2,683

)

Amortization of Unrealized Holding (Gains) Losses on Held-to-

   Maturity Securities 1

 

 

506

 

 

 

134

 

 

 

372

 

Net Unrealized Gains (Losses) on Investment Securities

 

 

(68,266

)

 

 

(18,093

)

 

 

(50,173

)

Defined Benefit Plans:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Net Actuarial Losses (Gains)

 

 

1,323

 

 

 

350

 

 

 

973

 

Amortization of Prior Service Credit

 

 

(123

)

 

 

(33

)

 

 

(90

)

Defined Benefit Plans, Net

 

 

1,200

 

 

 

317

 

 

 

883

 

Other Comprehensive Income (Loss)

 

$

(67,066

)

 

$

(17,776

)

 

$

(49,290

)

 

1

The amount relates to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available-for-sale investment securities to the held-to-maturity category.  The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.
Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2022, and June 30, 2021:

 

(dollars in thousands)

 

Investment

Securities-

Available-

for-Sale

 

 

Investment

Securities-

Held-to-Maturity

 

 

Defined Benefit

Plans

 

 

Accumulated

Other

Comprehensive

Income (Loss)

 

Three Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

(213,113

)

 

$

103

 

 

$

(33,143

)

 

$

(246,153

)

Other Comprehensive Income (Loss) Before Reclassifications

 

 

(122,645

)

 

 

—

 

 

 

—

 

 

 

(122,645

)

Amounts Reclassified from Accumulated Other

   Comprehensive Income (Loss)

 

 

—

 

 

 

(2

)

 

 

352

 

 

 

350

 

Total Other Comprehensive Income (Loss)

 

 

(122,645

)

 

 

(2

)

 

 

352

 

 

 

(122,295

)

Balance at End of Period

 

$

(335,758

)

 

$

101

 

 

$

(32,791

)

 

$

(368,448

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

1,352

 

 

$

(330

)

 

$

(42,809

)

 

$

(41,787

)

Other Comprehensive Income (Loss) Before Reclassifications

 

 

2,281

 

 

 

—

 

 

 

—

 

 

 

2,281

 

Amounts Reclassified from Accumulated Other

   Comprehensive Income (Loss)

 

 

(2,683

)

 

 

279

 

 

 

442

 

 

 

(1,962

)

Total Other Comprehensive Income (Loss)

 

 

(402

)

 

 

279

 

 

 

442

 

 

 

319

 

Balance at End of Period

 

$

950

 

 

$

(51

)

 

$

(42,367

)

 

$

(41,468

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

(32,940

)

 

$

54

 

 

$

(33,496

)

 

$

(66,382

)

Other Comprehensive Income (Loss) Before Reclassifications

 

 

(302,818

)

 

 

—

 

 

 

—

 

 

 

(302,818

)

Amounts Reclassified from Accumulated Other

   Comprehensive Income (Loss)

 

 

—

 

 

 

47

 

 

 

705

 

 

 

752

 

Total Other Comprehensive Income (Loss)

 

 

(302,818

)

 

 

47

 

 

 

705

 

 

 

(302,066

)

Balance at End of Period

 

$

(335,758

)

 

$

101

 

 

$

(32,791

)

 

$

(368,448

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

51,495

 

 

$

(423

)

 

$

(43,250

)

 

$

7,822

 

Other Comprehensive Income (Loss) Before Reclassifications

 

 

(47,862

)

 

 

—

 

 

 

—

 

 

 

(47,862

)

Amounts Reclassified from Accumulated Other

   Comprehensive Income (Loss)

 

 

(2,683

)

 

 

372

 

 

 

883

 

 

 

(1,428

)

Total Other Comprehensive Income (Loss)

 

 

(50,545

)

 

 

372

 

 

 

883

 

 

 

(49,290

)

Balance at End of Period

 

$

950

 

 

$

(51

)

 

$

(42,367

)

 

$

(41,468

)

 
Reclassification out of Accumulated Other Comprehensive Income

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2022, and June 30, 2021:

 

Details about Accumulated Other

Comprehensive Income (Loss) Components

 

Amount Reclassified from Accumulated

Other Comprehensive Income (Loss)1

 

 

Affected Line Item in the Statement

Where Net Income Is Presented

 

 

Three Months Ended June 30,

 

 

 

(dollars in thousands)

 

2022

 

 

2021

 

 

 

Amortization of Unrealized Holding Gains (Losses) on

   Investment Securities Held-to-Maturity

 

$

3

 

 

$

(380

)

 

Interest Income

 

 

 

(1

)

 

 

101

 

 

Provision for Income Tax

 

 

 

2

 

 

 

(279

)

 

Net of Tax

Sale of Investment Securities Available-for-Sale

 

 

—

 

 

 

3,675

 

 

Investment Securities Gains (Losses), Net

 

 

 

—

 

 

 

(992

)

 

Provision for Income Tax

 

 

 

—

 

 

 

2,683

 

 

Net of tax

 

 

 

 

 

 

 

 

 

 

 

Amortization of Defined Benefit Plan Items

 

 

 

 

 

 

 

 

 

 

Prior Service Credit 2

 

 

61

 

 

 

62

 

 

 

Net Actuarial Losses 2

 

 

(542

)

 

 

(661

)

 

 

 

 

 

(481

)

 

 

(599

)

 

Total Before Tax

 

 

 

129

 

 

 

157

 

 

Provision for Income Tax

 

 

 

(352

)

 

 

(442

)

 

Net of Tax

 

 

 

 

 

 

 

 

 

 

 

Total Reclassifications for the Period

 

$

(350

)

 

$

1,962

 

 

Net of Tax

 

 

 

 

 

 

 

 

 

 

 

Details about Accumulated Other

Comprehensive Income (Loss) Components

 

Amount Reclassified from Accumulated

Other Comprehensive Income (Loss)1

 

 

Affected Line Item in the Statement

Where Net Income Is Presented

 

 

Six Months Ended June 30,

 

 

 

(dollars in thousands)

 

2022

 

 

2021

 

 

 

Amortization of Unrealized Holding Gains (Losses) on

   Investment Securities Held-to-Maturity

 

$

(63

)

 

$

(506

)

 

Interest Income

 

 

 

16

 

 

 

134

 

 

Provision for Income Tax

 

 

 

(47

)

 

 

(372

)

 

Net of Tax

Sale of Investment Securities Available-for-Sale

 

 

—

 

 

 

3,675

 

 

Investment Securities Gains (Losses), Net

 

 

 

—

 

 

 

(992

)

 

Provision for Income Tax

 

 

 

—

 

 

 

2,683

 

 

Net of tax

 

 

 

 

 

 

 

 

 

 

 

Amortization of Defined Benefit Plan Items

 

 

 

 

 

 

 

 

 

 

Prior Service Credit 2

 

 

123

 

 

 

123

 

 

 

Net Actuarial Losses 2

 

 

(1,084

)

 

 

(1,323

)

 

 

 

 

 

(961

)

 

 

(1,200

)

 

Total Before Tax

 

 

 

256

 

 

 

317

 

 

Provision for Income Tax

 

 

 

(705

)

 

 

(883

)

 

Net of Tax

 

 

 

 

 

 

 

 

 

 

 

Total Reclassifications for the Period

 

$

(752

)

 

$

1,428

 

 

Net of Tax

 

1

Amounts in parentheses indicate reductions to net income.

2

These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost and are included in Other Noninterest Expense on the consolidated statements of income.