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Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component are as follows (in thousands):

			Three Months Ended June 30, 2022
			Unrealized Gains (Losses) on Securities												Unrealized Gains (Losses) on Derivatives												Retirement Plans						Total
Beginning balance, net of tax			$	(72,699)											$	16,018											$	(23,590)					$	(80,271)
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications			(85,883)												7,047												—						(78,836)
Reclassification adjustments included in net income			3,487												344												241						4,072
Income tax (expense) benefit			17,303												(1,552)												(51)						15,700
Net current-period other comprehensive income (loss), net of tax			(65,093)												5,839												190						(59,064)
Ending balance, net of tax			$	(137,792)											$	21,857											$	(23,400)					$	(139,335)
			Six Months Ended June 30, 2022
			Unrealized Gains (Losses) on Securities												Unrealized Gains (Losses) on Derivatives												Retirement Plans						Total
Beginning balance, net of tax			$	84,716											$	(1,257)											$	(23,754)					$	59,705
Other comprehensive income (loss):
Other comprehensive (loss) income before reclassifications			(286,928)												27,593												—						(259,335)
Reclassification adjustments included in net income			5,273												1,666												447						7,386
Income tax benefit (expense)			59,147												(6,145)												(93)						52,909
Net current-period other comprehensive (loss) income, net of tax			(222,508)												23,114												354						(199,040)
Ending balance, net of tax			$	(137,792)											$	21,857											$	(23,400)					$	(139,335)

			Three Months Ended June 30, 2021
			Unrealized Gains (Losses) on Securities												Unrealized Gains (Losses) on Derivatives												Retirement Plans						Total
Beginning balance, net of tax			$	76,131											$	(7,144)											$	(29,401)					$	39,586
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications			33,166												(3,104)												—						30,062
Reclassification adjustments included in net income			375												1,599												(9)						1,965
Income tax (expense) benefit			(7,044)												315												3						(6,726)
Net current-period other comprehensive income (loss), net of tax			26,497												(1,190)												(6)						25,301
Ending balance, net of tax			$	102,628											$	(8,334)											$	(29,407)					$	64,887
			Six Months Ended June 30, 2021
			Unrealized Gains (Losses) on Securities												Unrealized Gains (Losses) on Derivatives												Retirement Plans						Total
Beginning balance, net of tax			$	116,078											$	(17,091)											$	(29,907)					$	69,080
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications			(15,813)												7,919												—						(7,894)
Reclassification adjustments included in net income			(1,212)												3,167												632						2,587
Income tax (expense) benefit			3,575												(2,329)												(132)						1,114
Net current-period other comprehensive income (loss), net of tax			(13,450)												8,757												500						(4,193)
Ending balance, net of tax			$	102,628											$	(8,334)											$	(29,407)					$	64,887

The reclassification adjustments out of accumulated other comprehensive income (loss) included in net income are presented below (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2022						2021						2022						2021
Unrealized gains and losses on securities transferred:
Amortization of unrealized gains and losses (1)			$	(1,310)					$	(390)					$	(1,553)					$	(806)
Tax benefit			275						82						326						169
Net of tax			(1,035)						(308)						(1,227)						(637)
Unrealized gains and losses on available for sale securities:
Realized net gain (loss) on sale of securities (2)			(2,177)						15						(3,720)						2,018
Tax (expense) benefit			457						(4)						781						(424)
Net of tax			(1,720)						11						(2,939)						1,594
Derivatives:
Realized net gain (loss) on interest rate swap derivatives (3)			(344)						(1,599)						(1,666)						(3,167)
Tax benefit			72						336						350						665
Net of tax			(272)						(1,263)						(1,316)						(2,502)
Amortization of pension plan:
Net actuarial loss (4)			(241)						9						(447)						(632)
Tax benefit			51						(3)						93						132
Net of tax			(190)						6						(354)						(500)
Total reclassifications for the period, net of tax			$	(3,217)					$	(1,554)					$	(5,836)					$	(2,045)

(1)    Included in interest income on the consolidated statements of income.

(2)    Listed as net gain (loss) on sale of securities AFS on the consolidated statements of income.

(3)    Included in interest expense for FHLB borrowings and deposits on the consolidated statements of income.

(4)    These AOCI components are included in the computation of net periodic pension cost (income) presented in “Note 8 – Employee Benefit Plans.”

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- References

No definition available.

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI https://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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