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Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2021

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

(12.) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables present the components of other comprehensive income (loss) for the three and nine months ended September 30, 2021 and 2020 (in thousands):

		Pre-tax Amount				Tax Effect				Net-of-tax Amount
Three months ended September 30, 2021
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period		$	(8,647	)		$	(2,216	)		$	(6,431	)
Reclassification adjustment for net gains included in net income (1)			42				11				31
Total securities available for sale and transferred securities			(8,605	)			(2,205	)			(6,400	)
Hedging derivative instruments:
Change in unrealized gain/loss during the period			108				28				80
Pension and post-retirement obligations:
Amortization of prior service credit included in income			(1	)			(1	)			—
Amortization of net actuarial loss included in income			186				48				138
Total pension and post-retirement obligations			185				47				138
Other comprehensive loss		$	(8,312	)		$	(2,130	)		$	(6,182	)
Nine months ended September 30, 2021
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period		$	(21,348	)		$	(5,470	)		$	(15,878	)
Reclassification adjustment for net gains included in net income (1)			105				27				78
Total securities available for sale and transferred securities			(21,243	)			(5,443	)			(15,800	)
Hedging derivative instruments:
Change in unrealized gain/loss during the period			1,537				394				1,143
Pension and post-retirement obligations:
Amortization of prior service credit included in income			(2	)			(1	)			(1	)
Amortization of net actuarial loss included in income			557				143				414
Total pension and post-retirement obligations			555				142				413
Other comprehensive loss		$	(19,151	)		$	(4,907	)		$	(14,244	)

(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.

(12.) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

		Pre-tax Amount				Tax Effect				Net-of-tax Amount
Three months ended September 30, 2020
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period		$	374			$	96			$	278
Reclassification adjustment for net gains included in net income (1)			(467	)			(120	)			(347	)
Total securities available for sale and transferred securities			(93	)			(24	)			(69	)
Hedging derivative instruments:
Change in unrealized gain/loss during the period			165				42				123
Pension and post-retirement obligations:
Amortization of prior service credit included in income			(8	)			(2	)			(6	)
Amortization of net actuarial loss included in income			321				82				239
Total pension and post-retirement obligations			313				80				233
Other comprehensive income		$	385			$	98			$	287
Nine months ended September 30, 2020
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period		$	19,737			$	5,057			$	14,680
Reclassification adjustment for net gains included in net income (1)			(1,213	)			(311	)			(902	)
Total securities available for sale and transferred securities			18,524				4,746				13,778
Hedging derivative instruments:
Change in unrealized gain/loss during the period			(234	)			(60	)			(174	)
Pension and post-retirement obligations:
Amortization of prior service credit included in income			(26	)			(7	)			(19	)
Amortization of net actuarial loss included in income			967				248				719
Total pension and post-retirement obligations			941				241				700
Other comprehensive income		$	19,231			$	4,927			$	14,304

(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.

(12.) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Continued)

Activity in accumulated other comprehensive income (loss), net of tax, for the three and nine months ended September 30, 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)
Three months ended September 30, 2021
Balance at beginning of period		$	747			$	5,343			$	(12,024	)		$	(5,934	)
Other comprehensive income (loss) before reclassifications			80				(6,431	)			—				(6,351	)
Amounts reclassified from accumulated other comprehensive    income (loss)			—				31				138				169
Net current period other comprehensive income (loss)			80				(6,400	)			138				(6,182	)
Balance at end of period		$	827			$	(1,057	)		$	(11,886	)		$	(12,116	)
Nine months ended September 30, 2021
Balance at beginning of period		$	(316	)		$	14,743			$	(12,299	)		$	2,128
Other comprehensive income (loss) before reclassifications			1,143				(15,878	)			—				(14,735	)
Amounts reclassified from accumulated other comprehensive    income (loss)			—				78				413				491
Net current period other comprehensive income (loss)			1,143				(15,800	)			413				(14,244	)
Balance at end of period		$	827			$	(1,057	)		$	(11,886	)		$	(12,116	)
Three months ended September 30, 2020
Balance at beginning of period		$	(815	)		$	14,720			$	(14,401	)		$	(496	)
Other comprehensive income before reclassifications			123				278				—				401
Amounts reclassified from accumulated other comprehensive    (loss) income			—				(347	)			233				(114	)
Net current period other comprehensive income (loss)			123				(69	)			233				287
Balance at end of period		$	(692	)		$	14,651			$	(14,168	)		$	(209	)
Nine months ended September 30, 2020
Balance at beginning of period		$	(518	)		$	873			$	(14,868	)			(14,513	)
Other comprehensive (loss) income before reclassifications			(174	)			14,680				—				14,506
Amounts reclassified from accumulated other comprehensive    (loss) income			—				(902	)			700				(202	)
Net current period other comprehensive income (loss)			(174	)			13,778				700				14,304
Balance at end of period		$	(692	)		$	14,651			$	(14,168	)		$	(209	)

(12.) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Continued)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 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
		September 30,
		2021				2020
Realized gain (loss) on sale of investment securities		$	—			$	554			Net gain on investment securities
Amortization of unrealized holding losses    on investment securities transferred from    available for sale to held to maturity			(42	)			(87	)		Interest income
			(42	)			467			Total before tax
			11				(120	)		Income tax expense
			(31	)			347			Net of tax
Amortization of pension and post-retirement items:
Prior service credit (1)			1				8			Salaries and employee benefits
Net actuarial losses (1)			(186	)			(321	)		Salaries and employee benefits
			(185	)			(313	)		Total before tax
			47				80			Income tax benefit
			(138	)			(233	)		Net of tax
Total reclassified for the period		$	(169	)		$	114
		Nine months ended
		September 30,
		2021				2020
Realized gain on sale of investment securities		$	71			$	1,449			Net gain on investment securities
Amortization of unrealized holding losses    on investment securities transferred from    available for sale to held to maturity			(176	)			(236	)		Interest income
			(105	)			1,213			Total before tax
			27				(311	)		Income tax expense
			(78	)			902			Net of tax
Amortization of pension and post-retirement items:
Prior service credit (1)			2				26			Salaries and employee benefits
Net actuarial losses (1)			(557	)			(967	)		Salaries and employee benefits
			(555	)			(941	)		Total before tax
			142				241			Income tax benefit
			(413	)			(700	)		Net of tax
Total reclassified for the period		$	(491	)		$	202

(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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- 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 http://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 http://asc.fasb.org/extlink&oid=123367319&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 http://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 http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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