Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2021

The following table presents the change in components of other comprehensive income (loss) for the periods presented, net of tax effects.


	Three Months Ended September 30, 2021									Three Months Ended September 30, 2020
(dollars in thousands)	Pre-Tax Amount			Tax (Expense) Benefit			Net of Tax Amount			Pre-Tax Amount			Tax Benefit (Expense)			Net of Tax Amount
Change in net unrealized gains/(losses) on debt securities available-for-sale		$	(5,676)		$	1,211		$	(4,465)		$	(882)		$	188		$	(694)
Adjustment to funded status of employee benefit plans (1)		(215)			46			(169)			1,163			(248)			915
Other Comprehensive Income		$	(5,891)		$	1,257		$	(4,634)		$	281		$	(60)		$	221
(1) Pension settlement accounting was recognized during the periods ended September 30, 2021 resulting in a charge of $0.4 million for the three months ended September 30, 2021 immediately recognizing a portion of unrecognized actuarial loss and a remeasurement of our pension obligation.

	Nine Months Ended September 30, 2021									Nine Months Ended September 30, 2020
(dollars in thousands)	Pre-Tax Amount			Tax (Expense) Benefit			Net of Tax Amount			Pre-Tax Amount			Tax (Expense) Benefit			Net of Tax Amount
Change in net unrealized gains/(losses) on available-for-sale debt securities		$	(15,065)		$	3,215		$	(11,850)		$	24,883		$	(5,294)		$	19,589
Reclassification adjustment for net (gains)/losses on debt securities available-for-sale included in net income (1)		—			—			—			(142)			30			(112)
Adjustment to funded status of employee benefit plans (1)		2,351			(501)			1,850			2,092			(446)			1,646
Other Comprehensive (Loss)/Income		$	(12,714)		$	2,714		$	(10,000)		$	26,833		$	(5,710)		$	21,123
(1) Pension settlement accounting was recognized during the periods ended September 30, 2021 resulting in a charge of $1.3 million for the nine months ended September 30, 2021 immediately recognizing a portion of unrecognized actuarial loss and a remeasurement of our pension obligation.