Accumulated Other Comprehensive Income

The following table summarizes the changes in AOCI by component for the:



	Three Months Ended June 30
	2020												2019
	Unrealized Gains (Losses) on AFS Securities			Unrealized Gains (Losses) on Derivative Instruments			Defined Benefit Pension Plan			Total			Unrealized Gains (Losses) on AFS Securities			Unrealized Gains (Losses) on Derivative Instruments			Defined Benefit Pension Plan			Total
Balance, April 1	$	9,459		$	(54	)	$	(2,695	)	$	6,710		$	(441	)	$	192		$	(2,741	)	$	(2,990	)
OCI before reclassifications	2,059			(29		)	—			2,030			4,876			(127		)	—			4,749
Tax effect	(379		)	6			—			(373		)	(1,018		)	26			—			(992		)
OCI, net of tax	1,680			(23		)	—			1,657			3,858			(101		)	—			3,757
Balance, June 30	$	11,139		$	(77	)	$	(2,695	)	$	8,367		$	3,417		$	91		$	(2,741	)	$	767



	Six Months Ended June 30
	2020												2019
	Unrealized Gains (Losses) on AFS Securities			Unrealized Gains (Losses) on Derivative Instruments			Defined Benefit Pension Plan			Total			Unrealized Gains (Losses) on AFS Securities			Unrealized Gains (Losses) on Derivative Instruments			Defined Benefit Pension Plan			Total
Balance, January 1	$	4,612		$	54		$	(2,695	)	$	1,971		$	(5,200	)	$	256		$	(2,741	)	$	(7,685	)
OCI before reclassifications	8,370			(165		)	—			8,205			10,830			(208		)	—			10,622
Amounts reclassified from AOCI	(71		)	—			—			(71		)	—			—			—			—
Subtotal	8,299			(165		)	—			8,134			10,830			(208		)	—			10,622
Tax effect	(1,772		)	34			—			(1,738		)	(2,213		)	43			—			(2,170		)
OCI, net of tax	6,527			(131		)	—			6,396			8,617			(165		)	—			8,452
Balance, June 30	$	11,139		$	(77	)	$	(2,695	)	$	8,367		$	3,417		$	91		$	(2,741	)	$	767

Included in OCI for the three and six-month periods ended June 30, 2020 and June 30, 2019 are changes in unrealized gains and losses related to auction rate money market preferred stocks. These investments, for federal income tax purposes, have no deferred federal income taxes related to unrealized gains or losses given the nature of the investments.

A summary of the components of unrealized gains on AFS securities included in OCI follows for the:



	Three Months Ended June 30
	2020								2019
	Auction Rate Money Market Preferred Stocks		All Other AFS Securities			Total			Auction Rate Money Market Preferred Stocks		All Other AFS Securities			Total
Unrealized gains (losses) arising during the period	$	253	$	1,806		$	2,059		$	30	$	4,846		$	4,876
Tax effect	—		(379		)	(379		)	—		(1,018		)	(1,018		)
Unrealized gains (losses), net of tax	$	253	$	1,427		$	1,680		$	30	$	3,828		$	3,858



	Six Months Ended June 30
	2020									2019
	Auction Rate Money Market Preferred Stocks			All Other AFS Securities			Total			Auction Rate Money Market Preferred Stocks		All Other AFS Securities			Total
Unrealized gains (losses) arising during the period	$	(140	)	$	8,510		$	8,370		$	295	$	10,535		$	10,830
Reclassification adjustment for net (gains) losses included in net income	—			(71		)	(71		)	—		—			—
Net unrealized gains (losses)	(140		)	8,439			8,299			295		10,535			10,830
Tax effect	—			(1,772		)	(1,772		)	—		(2,213		)	(2,213		)
Unrealized gains (losses), net of tax	$	(140	)	$	6,667		$	6,527		$	295	$	8,322		$	8,617