Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2019

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 and six months ended June 30, 2019 and 2018 (in thousands):

	Pre-tax Amount			Tax Effect			Net-of-tax Amount
Three months ended June 30, 2019
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	7,046		$	1,776		$	5,270
Reclassification adjustment for net gains included in net income ⁽¹⁾		(42	)		(11	)		(31	)
Total securities available for sale and transferred securities		7,004			1,765			5,239
Hedging derivative instruments:
Change in unrealized gain/loss during the period		(141	)		(35	)		(106	)
Pension and post-retirement obligations:
Amortization of prior service credit included in income		(17	)		(4	)		(13	)
Amortization of net actuarial loss included in income		366			92			274
Total pension and post-retirement obligations		349			88			261
Other comprehensive income	$	7,212		$	1,818		$	5,394
Six months ended June 30, 2019
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	14,230		$	3,587		$	10,643
Reclassification adjustment for net gains included in net income ⁽¹⁾		132			33			99
Total securities available for sale and transferred securities		14,362			3,620			10,742
Hedging derivative instruments:
Change in unrealized gain/loss during the period		(481	)		(121	)		(360	)
Pension and post-retirement obligations:
Amortization of prior service credit included in income		(33	)		(8	)		(25	)
Amortization of net actuarial loss included in income		732			185			547
Total pension and post-retirement obligations		699			177			522
Other comprehensive loss	$	14,580		$	3,676		$	10,904

⁽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.

	Pre-tax Amount			Tax Effect			Net-of-tax Amount
Three months ended June 30, 2018
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	(3,414	)	$	(860	)	$	(2,554	)
Reclassification adjustment for net gains included in net income ⁽¹⁾		90			23			67
Total securities available for sale and transferred securities		(3,324	)		(837	)		(2,487	)
Hedging derivative instruments:
Change in unrealized gain/loss during the period		303			76			227
Pension and post-retirement obligations:
Amortization of prior service credit included in income		(18	)		(5	)		(13	)
Amortization of net actuarial loss included in income		188			48			140
Total pension and post-retirement obligations		170			43			127
Other comprehensive loss	$	(2,851	)	$	(718	)	$	(2,133	)
Six months ended June 30, 2018
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	(11,879	)	$	(2,994	)	$	(8,885	)
Reclassification adjustment for net gains included in net income ⁽¹⁾		172			44			128
Total securities available for sale and transferred securities		(11,707	)		(2,950	)		(8,757	)
Hedging derivative instruments:
Change in unrealized gain/loss during the period		164			41			123
Pension and post-retirement obligations:
Amortization of prior service credit included in income		(36	)		(10	)		(26	)
Amortization of net actuarial loss included in income		375			95			280
Total pension and post-retirement obligations		339			85			254
Other comprehensive income	$	(11,204	)	$	(2,824	)	$	(8,380	)

⁽¹⁾

Components Of Accumulated Other Comprehensive Income (Loss)

Activity in accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 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)
Three months ended June 30, 2019
Balance at beginning of period	$	(530	)	$	(2,947	)	$	(15,077	)	$	(18,554	)
Other comprehensive income (loss) before reclassifications		(106	)		5,270			—			5,164
Amounts reclassified from accumulated other comprehensive income (loss)		—			(31	)		261			230
Net current period other comprehensive income (loss)		(106	)		5,239			261			5,394
Balance at end of period	$	(636	)	$	2,292		$	(14,816	)	$	(13,160	)
Six months ended June 30, 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		(360	)		10,643			—			10,283
Amounts reclassified from accumulated other comprehensive income (loss)		—			99			522			621
Net current period other comprehensive income (loss)		(360	)		10,742			522			10,904
Balance at end of period	$	(636	)	$	2,292		$	(14,816	)	$	(13,160	)
Three months ended June 30, 2018
Balance at beginning of period	$	(104	)	$	(9,545	)	$	(8,514	)	$	(18,163	)
Other comprehensive income (loss) before reclassifications		227			(2,554	)		—			(2,327	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			67			127			194
Net current period other comprehensive income (loss)		227			(2,487	)		127			(2,133	)
Balance at end of period	$	123		$	(12,032	)	$	(8,387	)	$	(20,296	)
Six months ended June 30, 2018
Balance at beginning of period	$	—		$	(3,275	)	$	(8,641	)	$	(11,916	)
Other comprehensive income (loss) before reclassifications		123			(8,885	)		—			(8,762	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			128			254			382
Net current period other comprehensive income (loss)		123			(8,757	)		254			(8,380	)
Balance at end of period	$	123		$	(12,032	)	$	(8,387	)	$	(20,296	)

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 and six months ended June 30, 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
	June 30,
	2019			2018
Realized (loss) gain on sale of investment securities	$	166		$	7		Net (loss) gain on investment securities
Amortization of unrealized holding gains (losses) on investment securities transferred from available for sale to held to maturity		(124	)		(97	)	Interest income
		42			(90	)	Total before tax
		(11	)		23		Income tax expense
		31			(67	)	Net of tax
Amortization of pension and post-retirement items:
Prior service credit ⁽¹⁾		17			18		Salaries and employee benefits
Net actuarial losses ⁽¹⁾		(366	)		(188	)	Salaries and employee benefits
		(349	)		(170	)	Total before tax
		88			43		Income tax expense
		(261	)		(127	)	Net of tax
Total reclassified for the period	$	(230	)	$	(194	)

	Six months ended
	June 30,
	2019			2018
Realized (loss) gain on sale of investment securities	$	113		$	7		Net gain on investment securities
Amortization of unrealized holding gains (losses) on investment securities transferred from available for sale to held to maturity		(245	)		(179	)	Interest income
		(132	)		(172	)	Total before tax
		33			44		Income tax benefit (expense)
		(99	)		(128	)	Net of tax
Amortization of pension and post-retirement items:
Prior service credit ⁽¹⁾		33			36		Salaries and employee benefits
Net actuarial losses ⁽¹⁾		(732	)		(375	)	Salaries and employee benefits
		(699	)		(339	)	Total before tax
		177			85		Income tax benefit
		(522	)		(254	)	Net of tax
Total reclassified for the period	$	(621	)	$	(382	)

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