Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2021

Components 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 months ended March 31, 2021:


	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, 2020	$	33,290	$	(3,906)	$	(37,102)	$	(7,718)
Other comprehensive (loss) income before reclassification	(10,436)		174		—		(10,262)
Amounts reclassified from other comprehensive income	44		651		280		975
Other comprehensive (loss) income, net	(10,392)		825		280		(9,287)
Balance at March 31, 2021	$	22,898	$	(3,081)	$	(36,822)	$	(17,005)

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 months ended March 31, 2021 and 2020:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended March 31,
Components of Accumulated Other Comprehensive Loss	2021		2020		Income Statement Line Item
	(in thousands)
Unrealized losses on AFS securities before tax	$	(59)	$	(40)	Losses on securities transactions, net
Tax effect	15		13
Total net of tax	(44)		(27)




Unrealized losses on derivatives (cash flow hedges) before tax	(915)		(615)		Interest expense
Tax effect	264		177
Total net of tax	(651)		(438)
Defined benefit pension plan:
Amortization of actuarial net loss	(388)		(236)		*

Tax effect	108		64
Total net of tax	(280)		(172)
Total reclassifications, net of tax	$	(975)	$	(637)


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