Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Accumulated Other Comprehensive Loss

The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three and nine months ended September 30, 2020:


	Components of Accumulated Other Comprehensive Loss						Total Accumulated Other Comprehensive Loss
	Unrealized Gains and Losses on Available for Sale (AFS) Securities		Unrealized Gains and Losses on Derivatives		Defined Benefit Pension Plan
	(in thousands)
Balance at June 30, 2020	$	34,961	$	(5,936)	$	(33,963)	$	(4,938)
Other comprehensive (loss) income before reclassification	(1,262)		83		—		(1,179)
Amounts reclassified from other comprehensive income	36		1,127		171		1,334
Other comprehensive (loss) income, net	(1,226)		1,210		171		155
Balance at September 30, 2020	$	33,735	$	(4,726)	$	(33,792)	$	(4,783)


	Components of Accumulated Other Comprehensive Loss						Total Accumulated Other Comprehensive Loss
	Unrealized Gains and Losses on Available for Sale (AFS) Securities		Unrealized Gains and Losses on Derivatives		Defined Benefit Pension Plan
	(in thousands)
Balance at December 31, 2019	$	5,822	$	(3,729)	$	(34,307)	$	(32,214)
Other comprehensive income (loss) before reclassification	27,819		(2,254)		—		25,565
Amounts reclassified from other comprehensive income	94		1,257		515		1,866
Other comprehensive income (loss), net	27,913		(997)		515		27,431
Balance at September 30, 2020	$	33,735	$	(4,726)	$	(33,792)	$	(4,783)

Reclassification from Each Component of Accumulated Other Comprehensive Loss

The following table presents amounts reclassified from each component of accumulated other comprehensive loss on a gross and net of tax basis for the three and nine months ended September 30, 2020 and 2019:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended September 30,				Nine Months Ended September 30,
Components of Accumulated Other Comprehensive Loss	2020		2019		2020		2019		Income Statement Line Item
	(in thousands)
Unrealized losses on AFS securities before tax	$	(46)	$	(93)	$	(127)	$	(114)	Losses on securities transactions, net
Tax effect	10		21		33		24
Total net of tax	(36)		(72)		(94)		(90)




Unrealized losses on derivatives (cash flow hedges) before tax	(1,586)		(453)		(1,763)		(1,126)		Interest expense
Tax effect	459		129		506		320
Total net of tax	(1,127)		(324)		(1,257)		(806)
Defined benefit pension plan:
Amortization of actuarial net loss	(234)		(79)		(699)		(235)		*

Tax effect	63		23		184		69
Total net of tax	(171)		(56)		(515)		(166)
Total reclassifications, net of tax	$	(1,334)	$	(452)	$	(1,866)	$	(1,062)


*			Amortization of net loss is included in the computation of net periodic pension cost recognized within other non-interest expense.