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Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Notes To Financial Statements

Accumulated Other Comprehensive Income (Loss)

12. Accumulated Other Comprehensive Income (Loss):

The following tables set forth the changes in accumulated other comprehensive income (loss) by component for the periods indicated:


		For the three months ended June 30, 2021
		Unrealized Gains			Unrealized Gains
		(Losses) on			(Losses) on						Fair Value
		Available for Sale			Cash flow			Defined Benefit			Option Elected
		Securities			Hedges			Pension Items			on Liabilities			Total

		(In thousands)

Beginning balance, net of tax		$	(927)		$	(9,723)		$	(1,818)		$	1,765		$	(10,703)

Other comprehensive income before reclassifications, net of tax			1,497			(1,267)			—			276			506

Amounts reclassified from accumulated other comprehensive income, net of tax			(85)			1,788			77			—			1,780

Net current period other comprehensive income, net of tax			1,412			521			77			276			2,286

Ending balance, net of tax		$	485		$	(9,202)		$	(1,741)		$	2,041		$	(8,417)


		For the three months ended June 30, 2020
		Unrealized Gains			Unrealized Gains
		(Losses) on			(Losses) on						Fair Value
		Available for Sale			Cash flow			Defined Benefit			Option Elected
		Securities			Hedges			Pension Items			on Liabilities			Total

		(In thousands)

Beginning balance, net of tax		$	(14,159)		$	(19,468)		$	(930)		$	2,117		$	(32,440)

Other comprehensive income before reclassifications, net of tax			11,414			(2,404)			—			(580)			8,430

Amounts reclassified from accumulated other comprehensive income, net of tax			37			399			52			—			488

Net current period other comprehensive income (loss), net of tax			11,451			(2,005)			52			(580)			8,918

Ending balance, net of tax		$	(2,708)		$	(21,473)		$	(878)		$	1,537		$	(23,522)


		For the six months ended June 30, 2021
		Unrealized Gains			Unrealized Gains
		(Losses) on			(Losses) on						Fair Value
		Available for Sale			Cash flow			Defined Benefit			Option Elected
		Securities			Hedges			Pension Items			on Liabilities			Total

		(In thousands)

Beginning balance, net of tax		$	1,290		$	(17,521)		$	(1,884)		$	1,849		$	(16,266)

Other comprehensive income before reclassifications, net of tax			(720)			4,706			—			192			4,178

Amounts reclassified from accumulated other comprehensive income, net of tax			(85)			3,613			143			—			3,671

Net current period other comprehensive income (loss), net of tax			(805)			8,319			143			192			7,849

Ending balance, net of tax		$	485		$	(9,202)		$	(1,741)		$	2,041		$	(8,417)


		For the six months ended June 30, 2020
		Unrealized Gains			Unrealized Gains
		(Losses) on			(Losses) on						Fair Value
		Available for Sale			Cash flow			Defined Benefit			Option Elected
		Securities			Hedges			Pension Items			on Liabilities			Total

		(In thousands)

Beginning balance, net of tax		$	(3,982)		$	(5,863)		$	(983)		$	1,021		$	(9,807)

Other comprehensive income before reclassifications, net of tax			1,212			(16,152)			—			516			(14,424)

Amounts reclassified from accumulated other comprehensive income (loss), net of tax			62			542			105			—			709

Net current period other comprehensive income, net of tax			1,274			(15,610)			105			516			(13,715)

Ending balance, net of tax		$	(2,708)		$	(21,473)		$	(878)		$	1,537		$	(23,522)

The following tables set forth significant amounts reclassified from accumulated other comprehensive income (loss) by component for the periods indicated:


For the three months ended June 30, 2021
		Amounts Reclassified from
Details about Accumulated Other		Accumulated Other			Affected Line Item in the Statement
Comprehensive Loss Components		Comprehensive Loss			Where Net Income is Presented
(In thousands)
Unrealized gains on available for sale securities		$	123		Net gains on sale of securities
			(38)		Provision for income taxes
		$	85		Net of tax
Cash flow hedges:
Interest rate swaps		$	(2,605)		Other interest expense
			817		Provision for income taxes
		$	(1,788)		Net of tax
Amortization of defined benefit pension items:
Actuarial losses		$	(133)	⁽¹⁾	Other operating expense
Prior service credits			21	⁽¹⁾	Other operating expense
			(112)		Total before tax
			35		Provision for income taxes
		$	(77)		Net of tax


For the three months ended June 30, 2020
		Amounts Reclassified from
Details about Accumulated Other		Accumulated Other			Affected Line Item in the Statement
Comprehensive Loss Components		Comprehensive Loss			Where Net Income is Presented
(In thousands)

Unrealized losses on available for sale securities		$	(54)		Net loss on sale of securities
			17		Provision for income taxes
		$	(37)		Net of tax

Cash flow hedges:
Interest rate swaps		$	(581)		Other interest expense
			182		Provision for income taxes
		$	(399)		Net of tax

Amortization of defined benefit pension items:
Actuarial losses		$	(98)	⁽¹⁾	Other operating expense
Prior service credits			23	⁽¹⁾	Other operating expense
			(75)		Total before tax
			23		Provision for income taxes
		$	(52)		Net of tax

(1)	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 (“Pension and Other Postretirement Benefit Plans”) for additional information.


For the six months ended June 30, 2021
		Amounts Reclassified from
Details about Accumulated Other		Accumulated Other			Affected Line Item in the Statement
Comprehensive Loss Components		Comprehensive Loss			Where Net Income is Presented
(In thousands)
Unrealized gains on available for sale securities		$	123		Net gains on sale of securities
			(38)		Provision for income taxes
		$	85		Net of tax
Cash flow hedges:
Interest rate swaps		$	(5,242)		Other interest expense
			1,629		Tax benefit
		$	(3,613)		Net of tax
Amortization of defined benefit pension items:
Actuarial losses		$	(250)	⁽¹⁾	Other operating expense
Prior service credits			43	⁽¹⁾	Other operating expense
			(207)		Total before tax
			64		Provision for income taxes
		$	(143)		Net of tax


For the six months ended June 30, 2020
		Amounts Reclassified from
Details about Accumulated Other		Accumulated Other			Affected Line Item in the Statement
Comprehensive Loss Components		Comprehensive Loss			Where Net Income is Presented
(In thousands)

Unrealized losses on available for sale securities		$	(91)		Net loss on sale of securities
			29		Provision for income taxes
		$	(62)		Net of tax

Cash flow hedges:
Interest rate swaps		$	(789)		Other interest expense
			247		Provision for income taxes
		$	(542)		Net of tax

Amortization of defined benefit pension items:
Actuarial losses		$	(195)	⁽¹⁾	Other operating expense
Prior service credits			43	⁽¹⁾	Other operating expense
			(152)		Total before tax
			47		Provision for income taxes
		$	(105)		Net of tax

(1)	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 (“Pension and Other Postretirement Benefit Plans”) for additional information.