Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of accumulated other comprehensive income (loss) by component

The changes in accumulated other comprehensive income (loss) by component are as follows (in thousands):

	Three Months Ended September 30, 2021
					Pension Plans
	Unrealized Gains (Losses) on Securities		Unrealized Gains (Losses) on Derivatives		Net Prior  Service  (Cost)  Credit		Net Gain (Loss)		Total
Beginning balance, net of tax	$	102,628	$	(8,334)	$	149	$	(29,556)	$	64,887
Other comprehensive income (loss):
Other comprehensive (loss) income before reclassifications	(27,714)		377		—		—		(27,337)
Reclassification adjustments included in net income	(1,069)		1,617		—		316		864
Income tax benefit (expense)	6,045		(418)		—		(67)		5,560
Net current-period other comprehensive (loss) income, net of tax	(22,738)		1,576		—		249		(20,913)
Ending balance, net of tax	$	79,890	$	(6,758)	$	149	$	(29,307)	$	43,974
	Nine Months Ended September 30, 2021
					Pension Plans
	Unrealized Gains (Losses) on Securities		Unrealized Gains (Losses) on Derivatives		Net Prior Service (Cost) Credit		Net Gain (Loss)		Total
Beginning balance, net of tax	$	116,078	$	(17,091)	$	149	$	(30,056)	$	69,080
Other comprehensive income (loss):
Other comprehensive (loss) income before reclassifications	(43,527)		8,296		—		—		(35,231)
Reclassification adjustments included in net income	(2,281)		4,784		—		948		3,451
Income tax benefit (expense)	9,620		(2,747)		—		(199)		6,674
Net current-period other comprehensive (loss) income, net of tax	(36,188)		10,333		—		749		(25,106)
Ending balance, net of tax	$	79,890	$	(6,758)	$	149	$	(29,307)	$	43,974

	Three Months Ended September 30, 2020
					Pension Plans
	Unrealized Gains (Losses) on Securities		Unrealized Gains (Losses) on Derivatives		Net Prior  Service  (Cost)  Credit		Net Gain (Loss)		Total
Beginning balance, net of tax	$	100,790	$	(20,904)	$	(20)	$	(36,855)	$	43,011
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications	1,601		(197)		—		—		1,404
Reclassification adjustments included in net income	316		1,587		(2)		821		2,722
Income tax expense	(403)		(292)		—		(171)		(866)
Net current-period other comprehensive income (loss), net of tax	1,514		1,098		(2)		650		3,260
Ending balance, net of tax	$	102,304	$	(19,806)	$	(22)	$	(36,205)	$	46,271
	Nine Months Ended September 30, 2020
					Pension Plans
	Unrealized Gains (Losses) on Securities		Unrealized Gains (Losses) on Derivatives		Net Prior  Service  (Cost)  Credit		Net Gain (Loss)		Total
Beginning balance, net of tax	$	38,038	$	(1,672)	$	(145)	$	(31,985)	$	4,236
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications	88,900		(25,236)		163		(7,558)		56,269
Reclassification adjustments included in net income	(7,551)		2,283		(6)		2,213		(3,061)
Income tax (expense) benefit	(17,083)		4,819		(34)		1,125		(11,173)
Net current-period other comprehensive income (loss), net of tax	64,266		(18,134)		123		(4,220)		42,035
Ending balance, net of tax	$	102,304	$	(19,806)	$	(22)	$	(36,205)	$	46,271

Reclassifications out of accumulated other comprehensive income

The reclassification adjustments out of accumulated other comprehensive income (loss) included in net income are presented below (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Unrealized gains and losses on securities transferred:
Amortization of unrealized gains and losses (1)	$	(312)	$	(394)	$	(1,118)	$	(730)
Tax benefit	66		82		235		153
Net of tax	(246)		(312)		(883)		(577)
Unrealized gains and losses on available for sale securities:
Realized net gain on sale of securities (2)	1,381		78		3,399		8,281
Tax expense	(290)		(16)		(714)		(1,739)
Net of tax	1,091		62		2,685		6,542
Derivatives:
Realized net loss on interest rate swap derivatives (3)	(1,617)		(1,593)		(4,784)		(2,303)
Tax benefit	340		335		1,005		484
Net of tax	(1,277)		(1,258)		(3,779)		(1,819)
Amortization of unrealized gains on terminated interest rate swap derivatives (3)	—		6		—		20
Tax expense	—		(1)		—		(4)
Net of tax	—		5		—		16
Amortization of pension plan:
Net actuarial loss (4)	(316)		(821)		(948)		(2,213)
Prior service credit (4)	—		2		—		6
Total before tax	(316)		(819)		(948)		(2,207)
Tax benefit	67		172		199		463
Net of tax	(249)		(647)		(749)		(1,744)
Total reclassifications for the period, net of tax	$	(681)	$	(2,150)	$	(2,726)	$	2,418

(1)    Included in interest income on the consolidated statements of income.

(2)    Listed as net gain on sale of securities AFS on the consolidated statements of income.

(3)    Included in interest expense for FHLB borrowings on the consolidated statements of income.

(4)    These AOCI components are included in the computation of net periodic pension cost (income) presented in “Note 8 – Employee Benefit Plans.”