Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2022

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, 2022:


	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, 2022	$	(29,716)	$	(728)	$	(25,654)	$	(56,098)
Other comprehensive loss before reclassification	(52,269)		(23)		—		(52,292)
Amounts reclassified from other comprehensive (loss) income	—		(80)		133		53
Other comprehensive (loss) income, net	(52,269)		(103)		133		(52,239)
Balance at June 30, 2022	$	(81,985)	$	(831)	$	(25,521)	$	(108,337)


	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, 2021	$	9,186	$	(1,332)	$	(25,786)	$	(17,932)
Other comprehensive (loss) gain before reclassification	(91,161)		195		—		(90,966)
Amounts reclassified from other comprehensive (loss) income	(10)		306		265		561
Other comprehensive (loss) income, net	(91,171)		501		265		(90,405)
Balance at June 30, 2022	$	(81,985)	$	(831)	$	(25,521)	$	(108,337)

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, 2022 and 2021:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended June 30,				Six Months Ended June 30,
Components of Accumulated Other Comprehensive Loss	2022		2021		2022		2021		Income Statement Line Item
	(in thousands)
Unrealized (losses) gains on AFS securities before tax	$	—	$	(103)	$	14	$	(162)	(Losses) gains on securities transactions, net
Tax effect	—		27		(4)		42
Total net of tax	—		(76)		10		(120)




Unrealized gains (losses) on derivatives (cash flow hedges) before tax	116		(749)		(426)		(1,664)		Interest expense
Tax effect	(36)		215		120		479
Total net of tax	80		(534)		(306)		(1,185)
Defined benefit pension plan:
Amortization of actuarial net loss	(184)		(387)		(367)		(775)		*

Tax effect	51		109		102		217
Total net of tax	(133)		(278)		(265)		(558)
Total reclassifications, net of tax	$	(53)	$	(888)	$	(561)	$	(1,863)


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