Other Comprehensive Income (Loss)

9 Months Ended

Sep. 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 September 30, 2021
Securities available for sale:
Unrealized holding losses on securities	$	(12,408)	$	(3,158)	$	(9,250)
Reclassification adjustment for gains realized in net income	(764)		(194)		(570)
Total securities available for sale	(13,172)		(3,352)		(9,820)
Derivative instruments:
Unrealized holding gains on derivative instruments	1,629		414		1,215
Total derivative instruments	1,629		414		1,215
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	67		18		49
Total defined benefit pension and post-retirement benefit plans	67		18		49
Total other comprehensive loss	$	(11,476)	$	(2,920)	$	(8,556)
Three months ended September 30, 2020
Securities available for sale:
Unrealized holding gains on securities	$	519	$	131	$	388
Total securities available for sale	519		131		388
Derivative instruments:
Unrealized holding gains on derivative instruments	1,576		401		1,175
Total derivative instruments	1,576		401		1,175
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	65		17		48
Total defined benefit pension and post-retirement benefit plans	65		17		48
Total other comprehensive income	$	2,160	$	549	$	1,611

	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Nine months ended September 30, 2021
Securities available for sale:
Unrealized holding losses on securities	$	(27,487)	$	(6,996)	$	(20,491)
Reclassification adjustment for gains realized in net income	(2,121)		(539)		(1,582)
Total securities available for sale	(29,608)		(7,535)		(22,073)
Derivative instruments:
Unrealized holding gains on derivative instruments	10,129		2,578		7,551
Total derivative instruments	10,129		2,578		7,551
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	197		49		148
Total defined benefit pension and post-retirement benefit plans	197		49		148
Total other comprehensive loss	$	(19,282)	$	(4,908)	$	(14,374)
Nine months ended September 30, 2020
Securities available for sale:
Unrealized holding gains on securities	$	26,404	$	6,719	$	19,685
Reclassification adjustment for gains realized in net income	(31)		(8)		(23)
Total securities available for sale	26,373		6,711		19,662
Derivative instruments:
Unrealized holding losses on derivative instruments	(3,516)		(895)		(2,621)
Total derivative instruments	(3,516)		(895)		(2,621)
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	195		50		145
Total defined benefit pension and post-retirement benefit plans	195		50		145
Total other comprehensive income	$	23,052	$	5,866	$	17,186

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

	September 30, 2021		December 31, 2020
Unrealized gains on securities	$	8,854	$	42,246
Non-credit related portion of previously recorded other-than-temporary impairment on securities	—		(11,319)
Unrealized gains (losses) on derivative instruments	6,913		(638)
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(5,073)		(5,221)
Total accumulated other comprehensive income	$	10,694	$	25,068