Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 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 March 31, 2021	$	22,898	$	(3,081)	$	(36,822)	$	(17,005)
Other comprehensive loss before reclassification	(1,471)		(147)		—		(1,618)
Amounts reclassified from other comprehensive income	76		534		278		888
Other comprehensive (loss) income, net	(1,395)		387		278		(730)
Balance at June 30, 2021	$	21,503	$	(2,694)	$	(36,544)	$	(17,735)


	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	(11,907)		27		—		(11,880)
Amounts reclassified from other comprehensive income	120		1,185		558		1,863
Other comprehensive (loss) income, net	(11,787)		1,212		558		(10,017)
Balance at June 30, 2021	$	21,503	$	(2,694)	$	(36,544)	$	(17,735)

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 six months ended June 30, 2021 and 2020:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended June 30,				Six Months Ended June 30,
Components of Accumulated Other Comprehensive Loss	2021		2020		2021		2020		Income Statement Line Item
	(in thousands)
Unrealized losses on AFS securities before tax	$	(103)	$	(41)	$	(162)	$	(81)	Gains (losses) on securities transactions, net
Tax effect	27		10		42		23
Total net of tax	(76)		(31)		(120)		(58)




Unrealized (losses) gains on derivatives (cash flow hedges) before tax	(749)		438		(1,664)		(177)		Interest expense
Tax effect	215		(130)		479		47
Total net of tax	(534)		308		(1,185)		(130)
Defined benefit pension plan:
Amortization of actuarial net loss	(387)		(229)		(775)		(465)		*

Tax effect	109		57		217		121
Total net of tax	(278)		(172)		(558)		(344)
Total reclassifications, net of tax	$	(888)	$	105	$	(1,863)	$	(532)


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