Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2020

The following table presents changes in other comprehensive income:


	Before-Tax Amount		Tax Effect		Net of Tax Amount
Three months ended September 30, 2020	(in thousands)
Unrealized gain on securities	$	5,565	$	(1,232)	$	4,333

Reclassification adjustment for securities gains included in net income (1)	(2)		1		(1)

Amortization of net unrealized losses on AFS securities transferred to HTM (2)	1,192		(264)		928



Amortization of net unrecognized pension and postretirement items (3)	329		(73)		255
Total Other Comprehensive Income	$	7,083	$	(1,568)	$	5,515
Three months ended September 30, 2019
Unrealized gain on securities (4)	$	23,150	$	(5,121)	$	18,029

Reclassification adjustment for securities gains included in net income (1)	(4,492)		994		(3,498)
Amortization of net unrealized losses on AFS securities transferred to HTM (2)	4,405		(974)		3,430



Amortization of net unrecognized pension and postretirement items (3)	357		(80)		277
Total Other Comprehensive Income	$	23,419	$	(5,181)	$	18,238

Nine months ended September 30, 2020
Unrealized gain on securities	$	72,146	$	(15,960)	$	56,186

Reclassification adjustment for securities gains included in net income (1)	(3,053)		676		(2,377)

Amortization of net unrealized losses on AFS securities transferred to HTM (2)	3,232		(715)		2,517



Amortization of net unrecognized pension and postretirement items (3)	984		(219)		765
Total Other Comprehensive Income	$	73,309	$	(16,218)	$	57,091

Nine months ended September 30, 2019
Unrealized gain on securities (4)	$	81,207	$	(17,963)	$	63,244
Reclassification adjustment for securities gains included in net income (1)	(4,733)		1,047		(3,686)


Amortization of net unrealized losses on AFS securities transferred to HTM (2)	6,966		(1,541)		5,425
Non-credit related unrealized losses on other-than-temporarily impaired debt securities	(875)		193		(682)


Amortization of net unrecognized pension and postretirement items (3)	1,083		(240)		843
Total Other Comprehensive Income	$	83,648	$	(18,504)	$	65,144

(1) Amounts reclassified out of accumulated other comprehensive income. Before-tax amounts included in "Investment securities gains, net" on the Consolidated Statements of Income. See Note 3, "Investment Securities," for additional details.

(2) Amounts reclassified out of accumulated other comprehensive income. Before-tax amounts included as a reduction to "Interest Income" on the Consolidated Statements of Income.

(3) Amounts reclassified out of accumulated other comprehensive income. Before-tax amounts included in "Salaries and employee benefits" on the Consolidated Statements of Income. See Note 12, "Employee Benefit Plans," for additional details.

(4) Before-Tax amount includes a $3.7 million reclassification of unrealized loss related to the early adoption of ASU 2019-04.

Changes in each component of accumulated other comprehensive income

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


	Unrealized Gains (Losses) on Investment Securities		Unrealized Non-Credit Gains (Losses) on Other-Than-Temporarily Impaired Debt Securities		Unrecognized Pension and Postretirement Plan Income (Costs)		Total
	(in thousands)
Three months ended September 30, 2020
Balance at June 30, 2020	$	65,930	$	—	$	(14,491)	$	51,439
Other comprehensive income before reclassifications	4,333		—		—		4,333
Amounts reclassified from accumulated other comprehensive income	(1)		—		255		254
Amortization of net unrealized losses on AFS securities transferred to HTM	928		—		—		928

Balance at September 30, 2020	$	71,190	$	—	$	(14,236)	$	56,954
Three months ended September 30, 2019
Balance at June 30, 2019	$	2,368	$	(2)	$	(14,523)	$	(12,157)
Other comprehensive income before reclassifications	18,029		—		—		18,029
Amounts reclassified from accumulated other comprehensive income (loss)	(3,498)		—		277		(3,221)
Amortization of net unrealized losses on AFS securities transferred to HTM	3,430		—		—		3,430

Balance at September 30, 2019	$	20,329	$	(2)	$	(14,246)	$	6,081

Nine months ended September 30, 2020
Balance at December 31, 2019	$	14,864	$	—	$	(15,001)	$	(137)
Other comprehensive income before reclassifications	56,186		—		—		56,186
Amounts reclassified from accumulated other comprehensive income (loss)	(2,377)		—		765		(1,612)
Amortization of net unrealized losses on AFS securities transferred to HTM	2,517		—		—		2,517

Balance at September 30, 2020	$	71,190	$	—	$	(14,236)	$	56,954
Nine months ended September 30, 2019
Balance at December 31, 2018	$	(44,654)	$	680	$	(15,089)	$	(59,063)
Other comprehensive income before reclassifications	63,244		(682)		—		62,562
Amounts reclassified from accumulated other comprehensive income (loss)	(3,686)		—		843		(2,843)
Amortization of net unrealized losses on AFS securities transferred to HTM	5,425		—		—		5,425

Balance at September 30, 2019	$	20,329	$	(2)	$	(14,246)	$	6,081