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Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended
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Mar. 31, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] |
Components of Other Comprehensive Income (Loss) | The following tables present the components of other comprehensive income (loss) for the three months ended March 31, 2021 and 2020 (in thousands):
|  | Pre-tax Amount |  |  | Tax Effect |  |  | Net-of-tax Amount |
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale and transferred securities: |  |  |  |  |  |  |  |  |  |  |  |
Change in unrealized gain/loss during the period |  | $ | (19,362 | ) |  | $ | (4,961 | ) |  | $ | (14,401 | )
Reclassification adjustment for net gains included in net income (1) |  |  | (1 | ) |  |  | — |  |  |  | (1 | )
Total securities available for sale and transferred securities |  |  | (19,363 | ) |  |  | (4,961 | ) |  |  | (14,402 | )
Hedging derivative instruments: |  |  |  |  |  |  |  |  |  |  |  |
Change in unrealized gain/loss during the period |  |  | 2,103 |  |  |  | 539 |  |  |  | 1,564 |
Pension and post-retirement obligations: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service credit included in income |  |  | (1 | ) |  |  | — |  |  |  | (1 | )
Amortization of net actuarial loss included in income |  |  | 186 |  |  |  | 47 |  |  |  | 139 |
Total pension and post-retirement obligations |  |  | 185 |  |  |  | 47 |  |  |  | 138 |
Other comprehensive loss |  | $ | (17,075 | ) |  | $ | (4,375 | ) |  | $ | (12,700 | )
(1) | Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Securities available for sale and transferred securities: |  |  |  |  |  |  |  |  |  |  |  |
Change in unrealized gain/loss during the period |  | $ | 16,451 |  |  | $ | 4,215 |  |  | $ | 12,236 |
Reclassification adjustment for net gains included in net income (1) |  |  | (175 | ) |  |  | (45 | ) |  |  | (130 | )
Total securities available for sale and transferred securities |  |  | 16,276 |  |  |  | 4,170 |  |  |  | 12,106 |
Hedging derivative instruments: |  |  |  |  |  |  |  |  |  |  |  |
Change in unrealized gain/loss during the period |  |  | 123 |  |  |  | 32 |  |  |  | 91 |
Pension and post-retirement obligations: |  |  |  |  |  |  |  |  |  |  |  |
Amortization of prior service credit included in income |  |  | (9 | ) |  |  | (2 | ) |  |  | (7 | )
Amortization of net actuarial loss included in income |  |  | 323 |  |  |  | 82 |  |  |  | 241 |
Total pension and post-retirement obligations |  |  | 314 |  |  |  | 80 |  |  |  | 234 |
Other comprehensive income |  | $ | 16,713 |  |  | $ | 4,282 |  |  | $ | 12,431 |
(1) | Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.
Components of Accumulated Other Comprehensive Income (Loss) | Activity in accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2021 and 2020 was as follows (in thousands):
|  | Hedging Derivative Instruments |  |  | Securities Available for Sale and Transferred Securities |  |  | Pension and Post- retirement Obligations |  |  | Accumulated Other Comprehensive Income (Loss) |
March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (316 | ) |  | $ | 14,743 |  |  | $ | (12,299 | ) |  | $ | 2,128 |
Other comprehensive income before reclassifications |  |  | 1,564 |  |  |  | (14,401 | ) |  |  | — |  |  |  | (12,837 | )
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | — |  |  |  | (1 | ) |  |  | 138 |  |  |  | 137 |
Net current period other comprehensive income (loss) |  |  | 1,564 |  |  |  | (14,402 | ) |  |  | 138 |  |  |  | (12,700 | )
Balance at end of period |  | $ | 1,248 |  |  | $ | 341 |  |  | $ | (12,161 | ) |  | $ | (10,572 | )
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | (518 | ) |  | $ | 873 |  |  | $ | (14,868 | ) |  | $ | (14,513 | )
Other comprehensive income before reclassifications |  |  | 91 |  |  |  | 12,236 |  |  |  | — |  |  |  | 12,327 |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | — |  |  |  | (130 | ) |  |  | 234 |  |  |  | 104 |
Net current period other comprehensive income (loss) |  |  | 91 |  |  |  | 12,106 |  |  |  | 234 |  |  |  | 12,431 |
Balance at end of period |  | $ | (427 | ) |  | $ | 12,979 |  |  | $ | (14,634 | ) |  | $ | (2,082 | )
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) | The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2021 and 2020 (in thousands):
Details About Accumulated Other Comprehensive Income (Loss) Components |  | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) |  |  | Affected Line Item in the Consolidated Statement of Income
|  | Three months ended |  |  |
|  | March 31, |  |  |
|  | 2021 |  |  | 2020 |  |  |
Realized gain on sale of investment securities |  | $ | 74 |  |  | $ | 221 |  |  | Net gain on investment securities
Amortization of unrealized holding losses on investment securities transferred from available for sale to held to maturity |  |  | (73 | ) |  |  | (46 | ) |  | Interest income
|  |  | 1 |  |  |  | 175 |  |  | Total before tax
|  |  | — |  |  |  | (45 | ) |  | Income tax expense
|  |  | 1 |  |  |  | 130 |  |  | Net of tax
Amortization of pension and post-retirement items: |  |  |  |  |  |  |  |  |  |
Prior service credit (1) |  |  | 1 |  |  |  | 9 |  |  | Salaries and employee benefits
Net actuarial losses (1) |  |  | (186 | ) |  |  | (323 | ) |  | Salaries and employee benefits
|  |  | (185 | ) |  |  | (314 | ) |  | Total before tax
|  |  | 47 |  |  |  | 80 |  |  | Income tax benefit
|  |  | (138 | ) |  |  | (234 | ) |  | Net of tax
Total reclassified for the period |  | $ | (137 | ) |  | $ | (104 | ) |  |
(1) | These items are included in the computation of net periodic pension expense. See Note 14 – Employee Benefit Plans for additional information.

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