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Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Other Comprehensive Income (Loss)

  14. Other Comprehensive Income (LOSS)

The following table presents the changes in accumulated other comprehensive income (loss) (“AOCI”) during the period, by component, net of tax:

 

 

 

Three Months Ended June 30, 2021

 

 

Three Months Ended June 30, 2020

 

 

 

Before Tax

Amount

 

 

Tax (Expense)

or Benefit

 

 

Net-of-tax

Amount

 

 

Before Tax

Amount

 

 

Tax (Expense)

or Benefit

 

 

Net-of-tax

Amount

 

 

 

(dollars in thousands)

 

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding gains

 

$

1,421

 

 

$

(386

)

 

$

1,035

 

 

$

1,077

 

 

$

(267

)

 

$

810

 

Reclassification adjustment for gains realized in net income (loss)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(73

)

 

 

16

 

 

 

(57

)

Interest rate swaps designated as cash flow hedges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      Unrealized holding gains

 

 

4

 

 

 

(1

)

 

 

3

 

 

 

877

 

 

 

(244

)

 

 

633

 

Reclassification adjustment for gains recognized in net income (loss)

 

 

(646

)

 

 

180

 

 

 

(466

)

 

 

(503

)

 

 

140

 

 

 

(363

)

Defined benefit retirement plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in retirement liability

 

 

10

 

 

 

(3

)

 

 

7

 

 

 

(1

)

 

 

1

 

 

 

—

 

Total other comprehensive income

 

$

789

 

 

$

(210

)

 

$

579

 

 

$

1,377

 

 

$

(354

)

 

$

1,023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2021

 

 

Six Months Ended June 30, 2020

 

 

 

Before Tax

Amount

 

 

Tax (Expense)

or Benefit

 

 

Net-of-tax

Amount

 

 

Before Tax

Amount

 

 

Tax (Expense)           or Benefit

 

 

Net-of-tax

Amount

 

 

 

(dollars in thousands)

 

Available for sale securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding (losses) gains

 

$

(2,502

)

 

$

650

 

 

$

(1,852

)

 

$

4,318

 

 

$

(1,008

)

 

$

3,310

 

Reclassification adjustment for gains realized in net income

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(73

)

 

 

16

 

 

 

(57

)

Interest rate swaps designated as cash flow hedges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      Unrealized holding (losses) gains

 

 

(443

)

 

 

124

 

 

 

(319

)

 

 

6,875

 

 

 

(1,915

)

 

 

4,960

 

Reclassification adjustment for gains recognized in net income

 

 

(1,276

)

 

 

356

 

 

 

(920

)

 

 

(615

)

 

 

171

 

 

 

(444

)

Defined benefit retirement plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in retirement liability

 

 

21

 

 

 

(6

)

 

 

15

 

 

 

(2

)

 

 

1

 

 

 

(1

)

Total other comprehensive income (loss)

 

$

(4,200

)

 

$

1,124

 

 

$

(3,076

)

 

$

10,503

 

 

$

(2,735

)

 

$

7,768

 

 

 

 

Reclassifications out of AOCI that have an impact on net income (loss) are presented below:

 

Three Months Ended June 30,

Details about Accumulated Other Comprehensive

Income (Loss) Components

 

2021

 

 

2020

 

 

Affected Line Item in the

Statement where Net Income (Loss)

is Presented

 

 

(dollars in thousands)

 

 

 

Unrealized gains on available

   for sale securities

 

$

—

 

 

$

73

 

 

Gain on disposition of investment securities

Unrealized gains on derivatives

 

 

646

 

 

 

503

 

 

Interest on taxable loans

Tax expense

 

 

(180

)

 

 

(156

)

 

Income tax expense

Net of tax

 

$

466

 

 

$

420

 

 

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

Details about Accumulated Other Comprehensive

Income (Loss) Components

 

2021

 

 

2020

 

 

Affected Line Item in the

Statement where Net Income

is Presented

 

 

(dollars in thousands)

 

 

 

Unrealized gains on available

   for sale securities

 

$

—

 

 

$

73

 

 

Gain on disposition of investment securities

Unrealized gains on derivatives

 

 

1,276

 

 

 

615

 

 

Interest on taxable loans

Tax expense

 

 

(356

)

 

 

(187

)

 

Provision for income taxes

Net of tax

 

$

920

 

 

$

501

 

 

Net income