Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2019

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

(10.)ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the components of other comprehensive income (loss) for the three months ended March 31, 2019 and 2018 (in thousands):

	Pre-tax Amount			Tax Effect			Net-of-tax Amount
March 31, 2019
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	7,184		$	1,811		$	5,373
Reclassification adjustment for net gains included in net income ⁽¹⁾		174			44			130
Total securities available for sale and transferred securities		7,358			1,855			5,503
Hedging derivative instruments:
Change in unrealized gain/loss during the period		(340	)		(86	)		(254	)
Pension and post-retirement obligations:
Amortization of prior service credit included in income		(16	)		(4	)		(12	)
Amortization of net actuarial loss included in income		366			93			273
Total pension and post-retirement obligations		350			89			261
Other comprehensive income	$	7,368		$	1,858		$	5,510

March 31, 2018
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	(8,465	)	$	(2,134	)	$	(6,331	)
Reclassification adjustment for net gains included in net income ⁽¹⁾		82			21			61
Total securities available for sale and transferred securities		(8,383	)		(2,113	)		(6,270	)
Hedging derivative instruments:
Change in unrealized gain/loss during the period		(139	)		(35	)		(104	)
Pension and post-retirement obligations:
Amortization of prior service credit included in income		(18	)		(5	)		(13	)
Amortization of net actuarial loss included in income		187			47			140
Total pension and post-retirement obligations		169			42			127
Other comprehensive loss	$	(8,353	)	$	(2,106	)	$	(6,247	)

⁽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.

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

Activity in accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2019 and 2018 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, 2019
Balance at beginning of period	$	(276	)	$	(7,769	)	$	(13,236	)	$	(21,281	)
Reclassification of income tax effects to retained earnings		—			(681	)		(2,102	)		(2,783	)
Other comprehensive income (loss) before reclassifications		(254	)		5,373			—			5,119
Amounts reclassified from accumulated other comprehensive income (loss)		—			130			261			391
Net current period other comprehensive income (loss)		(254	)		5,503			261			5,510
Balance at end of period	$	(530	)	$	(2,947	)	$	(15,077	)	$	(18,554	)
March 31, 2018
Balance at beginning of period	$	—		$	(3,275	)	$	(8,641	)	$	(11,916	)
Other comprehensive income (loss) before reclassifications		(104	)		(6,331	)		—			(6,435	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			61			127			188
Net current period other comprehensive income (loss)		(104	)		(6,270	)		127			(6,247	)
Balance at end of period	$	(104	)	$	(9,545	)	$	(8,514	)	$	(18,163	)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2019 and 2018 (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,
	2019			2018
Realized (loss) gain on sale of investment securities	$	(53	)	$	—		Net (loss) gain on investment securities
Amortization of unrealized holding gains (losses) on investment securities transferred from available for sale to held to maturity		(121	)		(82	)	Interest income
		(174	)		(82	)	Total before tax
		44			21		Income tax expense
		(130	)		(61	)	Net of tax
Amortization of pension and post-retirement items:
Prior service credit ⁽¹⁾		16			18		Salaries and employee benefits
Net actuarial losses ⁽¹⁾		(366	)		(187	)	Salaries and employee benefits
		(350	)		(169	)	Total before tax
		89			42		Income tax expense
		(261	)		(127	)	Net of tax
Total reclassified for the period	$	(391	)	$	(188	)

⁽¹⁾	These items are included in the computation of net periodic pension expense. See Note 12 – Employee Benefit Plans for additional information.