Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

(In Thousands)

Changes in the components of other comprehensive income, net of tax, were as follows for the periods presented:

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Three months ended June 30, 2021
Securities available for sale:
Unrealized holding gains on securities	$	4,965	$	1,263	$	3,702
Total securities available for sale	4,965		1,263		3,702
Derivative instruments:
Unrealized holding losses on derivative instruments	(6,234)		(1,586)		(4,648)
Total derivative instruments	(6,234)		(1,586)		(4,648)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	76		19		57
Total defined benefit pension and post-retirement benefit plans	76		19		57
Total other comprehensive loss	$	(1,193)	$	(304)	$	(889)
Three months ended June 30, 2020
Securities available for sale:
Unrealized holding gains on securities	$	3,496	$	893	$	2,603
Reclassification adjustment for gains realized in net income	(31)		(8)		(23)
Total securities available for sale	3,465		885		2,580
Derivative instruments:
Unrealized holding losses on derivative instruments	(1,064)		(271)		(793)
Total derivative instruments	(1,064)		(271)		(793)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	68		17		51
Total defined benefit pension and post-retirement benefit plans	68		17		51
Total other comprehensive income	$	2,469	$	631	$	1,838

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Six months ended June 30, 2021
Securities available for sale:
Unrealized holding losses on securities	$	(15,079)	$	(3,838)	$	(11,241)
Reclassification adjustment for gains realized in net income	(1,357)		(345)		(1,012)
Total securities available for sale	(16,436)		(4,183)		(12,253)
Derivative instruments:
Unrealized holding gains on derivative instruments	8,500		2,164		6,336
Total derivative instruments	8,500		2,164		6,336
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	130		31		99
Total defined benefit pension and post-retirement benefit plans	130		31		99
Total other comprehensive loss	$	(7,806)	$	(1,988)	$	(5,818)
Six months ended June 30, 2020
Securities available for sale:
Unrealized holding gains on securities	$	25,885	$	6,588	$	19,297
Reclassification adjustment for gains realized in net income	(31)		(8)		(23)
Total securities available for sale	25,854		6,580		19,274
Derivative instruments:
Unrealized holding losses on derivative instruments	(5,092)		(1,296)		(3,796)
Total derivative instruments	(5,092)		(1,296)		(3,796)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	130		33		97
Total defined benefit pension and post-retirement benefit plans	130		33		97
Total other comprehensive income	$	20,892	$	5,317	$	15,575

The accumulated balances for each component of other comprehensive income, net of tax, were as follows as of the dates presented:

	June 30, 2021		December 31, 2020
Unrealized gains on securities	$	18,674	$	42,246
Non-credit related portion of previously recorded other-than-temporary impairment on securities	—		(11,319)
Unrealized gains (losses) on derivative instruments	5,698		(638)
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(5,122)		(5,221)
Total accumulated other comprehensive income	$	19,250	$	25,068