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Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Components of Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income, both gross and net of tax, for the three and nine months ended September 30, 2020 and 2019 (in thousands):

						Three months ended September 30,
						2020																		2019
						Before Tax						Tax Effect						After Tax						Before Tax						Tax Effect						After Tax
Components of Other Comprehensive Income:
Unrealized gains and losses on available for sale debt securities:
Net unrealized (losses) gains arising during the period						$	(578)					150						(428)						3,594						(980)						2,614
Reclassification adjustment for gains included in net income						—						—						—						—						—						—
Total						(578)						150						(428)						3,594						(980)						2,614
Unrealized gains on derivatives (cash flow hedges)						1,186						(306)						880						188						(51)						137
Amortization related to post-retirement obligations						115						(30)						85						48						(13)						35
Total other comprehensive income						$	723					(186)						537						3,830						(1,044)						2,786

						Nine months ended September 30,
						2020																		2019
						Before Tax						Tax Effect						After Tax						Before Tax						Tax Effect						After Tax
Components of Other Comprehensive Income:
Unrealized gains and losses on available for sale debt securities:
Net unrealized gains arising during the period						$	20,733					(5,345)						15,388						27,291						(7,437)						19,854
Reclassification adjustment for gains included in net income						—						—						—						—						—						—
Total						20,733						(5,345)						15,388						27,291						(7,437)						19,854
Unrealized losses on derivatives (cash flow hedges)						(8,242)						2,125						(6,117)						(1,119)						306						(813)
Amortization related to post-retirement obligations						322						(83)						239						78						(21)						57
Total other comprehensive income						$	12,813					(3,303)						9,510						26,250						(7,152)						19,098

Components of Accumulated Other Comprehensive Income, Net of Tax

The following tables present the changes in the components of accumulated other comprehensive income, net of tax, for the three and nine months ended September 30, 2020 and 2019 (in thousands):

						Changes in Accumulated Other Comprehensive Income (Loss) by Component, net of tax for the three months ended September 30,
						2020																								2019
						Unrealized Gains (Losses) on Available for Sale Debt Securities						Post- Retirement Obligations						Unrealized (Losses) Gains on Derivatives (cash flow hedges)						Accumulated Other Comprehensive Income						Unrealized Gains on Available for Sale Debt Securities						Post-  Retirement Obligations						Unrealized Gains (Losses) on Derivatives (cash flow hedges)						Accumulated Other Comprehensive(Loss) Income
Balance at June 30,						$	24,562					(5,086)						(6,682)						12,794						7,635						(3,603)						(56)						3,976
Current - period other comprehensive income						(428)						85						880						537						2,614						35						137						2,786
Balance at September 30,						$	24,134					(5,001)						(5,802)						13,331						10,249						(3,568)						81						6,762

						Changes in Accumulated Other Comprehensive Income (Loss) by Component, net of tax for the nine months ended September 30,
						2020																								2019
						Unrealized Gains on Available for Sale Debt Securities						Post-  Retirement Obligations						Unrealized (Losses) Gains on Derivatives (cash flow hedges)						Accumulated Other Comprehensive Income						Unrealized Gains (Losses) on Available for Sale Debt Securities						Post- Retirement Obligations						Unrealized Gains (Losses) on Derivatives (cash flow hedges)						Accumulated Other Comprehensive(Loss) Income
Balance at December 31,						$	8,746					(5,240)						315						3,821						(9,605)						(3,625)						894						(12,336)
Current - period other comprehensive income						15,388						239						(6,117)						9,510						19,854						57						(813)						19,098
Balance at September 30,						$	24,134					(5,001)						(5,802)						13,331						10,249						(3,568)						81						6,762

Summary of Reclassifications Out of Accumulated Other Comprehensive Income

The following tables summarize the reclassifications from accumulated other comprehensive income (loss) to the consolidated statements of income for the three and nine months ended September 30, 2020 and 2019 (in thousands):

						Reclassifications From Accumulated Other Comprehensive Income ("AOCI")
						Amount reclassified from AOCI for the three months ended September 30,												Affected line item in the Consolidated Statement of Income
						2020						2019
Details of AOCI:
Post-retirement obligations:
Amortization of actuarial losses						$	112					48						Compensation and employee benefits (1)
						(27)						(13)						Income tax expense
Total reclassification						$	85					35						Net of tax

						Reclassifications From Accumulated Other Comprehensive Income ("AOCI")
						Amount reclassified from AOCI for the nine months ended September 30,												Affected line item in the Consolidated Statement of Income
						2020						2019
Details of AOCI:
Post-retirement obligations:
Amortization of actuarial losses						$	336					142						Compensation and employee benefits (1)
						(97)						(39)						Income tax expense
Total reclassification						$	239					103						Net of tax

(1) This item is included in the computation of net periodic benefit cost. See Note 6. Components of Net Periodic Benefit Cost.

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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-Publisher FASB
-Name Accounting Standards Codification
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