Comprehensive Income/Loss

3 Months Ended

Mar. 31, 2021

OTHER COMPREHENSIVE INCOME (LOSS)

The following tables present a reconciliation of the changes in the components of other comprehensive income (loss) for the periods indicated, including the amount of income tax (expense) benefit allocated to each component of other comprehensive income (loss):


	Three Months Ended March 31, 2021
		Pre Tax Amount		Tax (Expense) Benefit		After Tax Amount
		(Dollars in thousands)
Change in fair value of securities available for sale		$	(10,361)	$	2,587	$	(7,774)
Less: net security losses reclassified into other noninterest expense		—		—		—
Net change in fair value of securities available for sale		(10,361)		2,587		(7,774)

Change in fair value of cash flow hedges		(4,779)		1,344		(3,435)
Less: net cash flow hedge gains reclassified into interest income or interest expense		4,380		(1,232)		3,148

Net change in fair value of cash flow hedges		(9,159)		2,576		(6,583)

Net unamortized gain related to defined benefit pension and other postretirement adjustments arising during the period		653		(184)		469

Amortization of net actuarial losses		442		(124)		318
Amortization of net prior service costs		44		(12)		32

Net change in other comprehensive income for defined benefit postretirement plans (1)		1,139		(320)		819
Total other comprehensive loss		$	(18,381)	$	4,843	$	(13,538)


	Three Months Ended March 31, 2020
		Pre Tax Amount		Tax (Expense) Benefit		After Tax Amount
		(Dollars in thousands)
Change in fair value of securities available for sale		$	12,123	$	(2,776)	$	9,347
Less: net security losses reclassified into other noninterest expense		—		—		—
Net change in fair value of securities available for sale		12,123		(2,776)		9,347

Change in fair value of cash flow hedges		33,567		(9,443)		24,124
Less: net cash flow hedge gains reclassified into interest income or interest expense		1,586		(446)		1,140

Net change in fair value of cash flow hedges		31,981		(8,997)		22,984

Net unamortized loss related to defined benefit pension and other postretirement adjustments arising during the period		(1,389)		391		(998)

Amortization of net actuarial losses		245		(69)		176
Amortization of net prior service costs		69		(19)		50

Net change in other comprehensive income for defined benefit postretirement plans (1)		(1,075)		303		(772)
Total other comprehensive income		$	43,029	$	(11,470)	$	31,559

(1)The amortization of prior service costs is included in the computation of net periodic pension cost as disclosed in Note 15 "Employee Benefit Plans" within the Notes to the Consolidated Financial Statements included in Item 8 of the Company's 2020 Form 10-K.

Information on the Company’s accumulated other comprehensive income (loss), net of tax, is comprised of the following components as of the dates indicated:


	Unrealized Gain (Loss) on Securities		Unrealized Gain on Cash Flow Hedge		Defined Benefit Postretirement Plans		Accumulated Other Comprehensive Income (Loss)
	(Dollars in thousands)
	2021
Beginning balance: January 1, 2021	$	13,255	$	33,276	$	(5,836)	$	40,695
Net change in other comprehensive income (loss)	(7,774)		(6,583)		819		(13,538)
Ending balance: March 31, 2021	$	5,481	$	26,693	$	(5,017)	$	27,157
	2020
Beginning balance: January 1, 2020	$	4,398	$	16,479	$	(2,708)	$	18,169


Net change in other comprehensive income (loss)	9,347		22,984		(772)		31,559
Ending balance: March 31, 2020	$	13,745	$	39,463	$	(3,480)	$	49,728