Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2023

The following tables present the after-tax changes in the balances of each component of accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2023:


	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 and Postretirement Benefit Plans
	(in thousands)
Balance - June 30, 2023	$	(128,699)	$	2,353	$	(38,401)	$	(164,747)
Other comprehensive loss before reclassification	(37,115)		—		—		(37,115)
Amounts reclassified from other comprehensive loss (income)	5		(43)		8		(30)
Other comprehensive (loss) income, net	(37,110)		(43)		8		(37,145)
Balance - September 30, 2023	$	(165,809)	$	2,310	$	(38,393)	$	(201,892)


	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 and Postretirement Benefit Plans
	(in thousands)
Balance - December 31, 2022	$	(127,818)	$	2,233	$	(38,417)	$	(164,002)
Other comprehensive loss before reclassification	(37,996)		(775)		—		(38,771)
Amounts reclassified from other comprehensive loss	5		852		24		881
Other comprehensive (loss) income, net	(37,991)		77		24		(37,890)
Balance - September 30, 2023	$	(165,809)	$	2,310	$	(38,393)	$	(201,892)

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, 2023 and 2022:


	Amounts Reclassified from Accumulated Other Comprehensive Loss
	Three Months Ended September 30,				Nine Months Ended September 30,
Components of Accumulated Other Comprehensive Loss	2023		2022		2023		2022		Income Statement Line Item
	(in thousands)
Unrealized (losses) gains on AFS securities before tax	$	(6)	$	16	$	(6)	$	30	Gains (losses) on securities transactions, net
Tax effect	1		(4)		1		(8)
Total net of tax	(5)		12		(5)		22




Unrealized gains (losses) on derivatives (cash flow hedges) before tax	63		21		(1,193)		(405)		Interest income, interest expense
Tax effect	(20)		(8)		341		112
Total net of tax	43		13		(852)		(293)
Defined benefit pension and postretirement benefit plans:
Amortization of actuarial net loss	(11)		(183)		(33)		(550)		*

Tax effect	3		51		9		153
Total net of tax	(8)		(132)		(24)		(397)
Total reclassifications, net of tax	$	30	$	(107)	$	(881)	$	(668)


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