CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

9 Months Ended

Sep. 30, 2020

Components of Accumulated Other Comprehensive (Loss) Income

Changes to accumulated other comprehensive income by component are shown, net of taxes, in the following tables for the period indicated:


(Dollars in thousands)	Net change in investment securities available-for-sale		Net change in investment securities held-to-maturity		Net change in defined benefit plan		Net change in fair value of derivatives used for cash flow hedges (1)		Net change in equity method investments		Total
Balance, June 30, 2020	$	74,689	$	346	$	(3,127)	$	872	$	—	$	72,780
Other comprehensive (loss) income before reclassifications	(3,474)		—		58		—		(9)		(3,425)
Less: Amounts reclassified from accumulated other comprehensive (loss) income	(2,525)		(39)		(83)		(113)		—		(2,760)
Net current-period other comprehensive loss	(5,999)		(39)		(25)		(113)		(9)		(6,185)
Balance, September 30, 2020	$	68,690	$	307	$	(3,152)	$	759	$	(9)	$	66,595

Balance, June 30, 2019	$	22,244	$	602	$	659	$	(817)	$	—	$	22,688
Other comprehensive income (loss) before reclassifications	9,268		(1)		(8)		368		—		9,627
Less: Amounts reclassified from accumulated other comprehensive loss	—		(69)		(27)		—		—		(96)
Net current-period other comprehensive income (loss)	9,268		(70)		(35)		368		—		9,531
Balance, September 30, 2019	$	31,512	$	532	$	624	$	(449)	$	—	$	32,219
(1)Cash flow hedges were terminated as of April 1, 2020

(Dollars in thousands)	Net change in investment securities available for sale		Net change in investment securities held to maturity		Net change in defined benefit plan		Net change in fair value of derivatives used for cash flow hedges (1)		Net change in equity method investments		Total
Balance, December 31, 2019	$	26,927	$	468	$	(3,317)	$	(577)	$	—	$	23,501
Other comprehensive income (loss) before reclassifications	46,264		—		84		1,560		(9)		47,899
Less: Amounts reclassified from accumulated other comprehensive (loss) income	(4,501)		(161)		81		(224)		—		(4,805)
Net current-period other comprehensive income (loss)	41,763		(161)		165		1,336		(9)		43,094
Balance, September 30, 2020	$	68,690	$	307	$	(3,152)	$	759	$	(9)	$	66,595

Balance, December 31, 2018	$	(14,553)	$	779	$	834	$	(2,454)	$	—	$	(15,394)
Other comprehensive income (loss) before reclassifications	46,124		(2)		(131)		2,005		—		47,996
Less: Amounts reclassified from accumulated other comprehensive (loss) income	(59)		(245)		(79)		—		—		(383)
Net current-period other comprehensive income (loss)	46,065		(247)		(210)		2,005		—		47,613
Balance, September 30, 2019	$	31,512	$	532	$	624	$	(449)	$	—	$	32,219
(1)Cash flow hedges were terminated as of April 1, 2020

Components of Other Comprehensive Income (Loss)

The unaudited Consolidated Statements of Income were impacted by components of other comprehensive income as shown in the tables below:


	Three Months Ended September 30,				Affected line item in unaudited Consolidated Statements of Income
(Dollars in thousands)	2020		2019
Securities available for sale:
Realized gains on securities transactions	$	(3,322)	$	—	Securities gains, net
Income taxes	797		—		Income tax provision
Net of tax	$	(2,525)	$	—
Net unrealized holding gains on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized gains to income during the period	$	(51)	$	(91)	Interest and dividends on investment securities
Income taxes	12		22		Income tax provision
Net of tax	$	(39)	$	(69)
Amortization of defined benefit pension plan-related items:
Prior service credits	$	(95)	$	(19)

Actuarial gains	(14)		(16)
Total before tax	$	(109)	$	(35)	Salaries, benefits and other compensation
Income taxes	26		8		Income tax provision
Net of tax	$	(83)	$	(27)




Net unrealized gains on terminated cash flow hedges:
Amortization of net unrealized gains to income during the period	$	(149)	$	—	Interest and fees on loans and leases
Income taxes	36		—		Income tax provision
Net of tax	$	(113)	$	—
Total reclassifications	$	(2,760)	$	(96)


	Nine Months Ended				Affected line item in unaudited Consolidated Statements of Operations
	September 30,
	2020		2019
Securities available-for-sale:
Realized gains on securities transactions	$	(5,923)	$	(78)	Securities gains, net
Income taxes	1,422		19		Income tax provision
Net of tax	$	(4,501)	$	(59)
Net unrealized holding gains on securities transferred between available-for-sale and held-to-maturity:
Amortization of net unrealized gains to income during the period	$	(211)	$	(322)	Interest and dividends on investment securities
Income taxes	50		77		Income tax provision
Net of tax	$	(161)	$	(245)
Amortization of defined benefit pension plan-related items:
Prior service credits	$	(133)	$	(57)

Actuarial gains	(39)		(47)
Total before tax	$	(172)	$	(104)	Salaries, benefits and other compensation
Income taxes	41		25		Income tax provision
Net of tax	$	(131)	$	(79)
Defined benefit pension plan settlement:
Realized losses on plan settlement	$	279	$	—	Other operating expense
Income taxes	(67)		—		Income tax provision
Net of tax	$	212	$	—
Net unrealized gains on terminated cash flow hedges:
Amortization of net unrealized gains to income during the period	$	(295)	$	—	Interest and fees on loans and leases
Income taxes	71		—		Income tax provision
Net of tax	$	(224)	$	—
Total reclassifications	$	(4,805)	$	(383)