4. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Activity in accumulated other comprehensive income (loss), net of tax, was as follows:

	Securities Held-to- Maturity and Transferred Securities			Securities Available- for-Sale			Defined Benefit Plans			Derivative Asset			Total Accumulated Other Comprehensive Loss
Balance as of January 1, 2017	$	(713	)	$	(92	)	$	(6,910	)	$	1,776		$	(5,939	)
Other comprehensive income (loss) before reclassifications		39			307			786			297			1,429
Amounts reclassified from accumulated other comprehensive income (loss)		674			20			733			155			1,582
Net other comprehensive income during the period		713			327			1,519			452			3,011
Reclassification of tax effects on other comprehensive income ⁽¹⁾		—			50			(1,242	)		479			(713	)
Balance as of December 31, 2017	$	—		$	285		$	(6,633	)	$	2,707		$	(3,641	)
Reclassification of unrealized gains and losses on available-for-sale equity securities ⁽²⁾		—			(153	)		—			—			(153	)
Adjusted balance as of January 1, 2018		—			132			(6,633	)		2,707			(3,794	)
Other comprehensive income (loss) before reclassifications		—			(1,159	)		311			(490	)		(1,338	)
Amounts reclassified from accumulated other comprehensive loss		—			(930	)		—			(470	)		(1,400	)
Net other comprehensive income during the period		—			(2,089	)		311			(960	)		(2,738	)
Reclassification of tax effects on other comprehensive income ⁽¹⁾		—			—			32			—			32
Balance as of December 31, 2018	$	—		$	(1,957	)	$	(6,290	)	$	1,747		$	(6,500	)

(1)

Represents the impact of adopting ASU 2018-02 allowing the reclassification of certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act of 2017 from accumulated other comprehensive income to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act of 2017 (the “Tax Act”) (or portion thereof) is recorded. The amount of the reclassification is the difference between the historical corporate income tax rate (35%) and the newly enacted 21% corporate income tax rate. The reclassification is as of and for the year ended December 31, 2017; no prior period information has been retroactively adjusted as a result of implementing the ASU.

(2)	Represents the impact of adopting ASU 2016-01 allowing the reclassification of unrealized gains and losses on available-for-sale equity securities from accumulated other comprehensive income to Retained Earnings.

The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below for the periods indicated.

	Year Ended December 31,
	2018			2017		2016
Change in unrealized holding loss on securities held-to-maturity and transferred securities:
Accretion of previously recognized non-credit component of OTTI	$			$	20	$	34
Change in unrealized loss on securities transferred to held-to-maturity		—			50		51
Reclassification adjustment for net gains included in net gain on securities and other assets		—			1,229		—
Net change		—			1,299		85
Tax expense		—			586		38
Net change in unrealized holding loss on securities held-to-maturity and transferred securities		—			713		47
Change in unrealized holding gain on securities available-for-sale:
Change in net unrealized (loss) gain during the period		(1,726	)		551		56
Reclassification adjustment for net (losses) gains included in net gain on securities and other assets		(1,370	)		36		—
Net change		(3,096	)		587		56
Tax expense (benefit)		(1,007	)		260		26
Net change in unrealized holding gain on securities available-for-sale		(2,089	)		327		30
Change in pension and other postretirement obligations:
Reclassification adjustment for expense included in other expense		514			1,421		1,841
Change in the net actuarial gain		34			1,337		—
Net change		548			2,758		1,841
Tax expense		237			1,239		832
Net change in pension and other postretirement obligations		311			1,519		1,009
Change in unrealized loss on derivatives:
Change in net unrealized loss during the period		(758	)		511		3,205
Reclassification adjustment for expense included in interest expense		(692	)		283		23
Net change		(1,450	)		794		3,228
Tax expense (benefit)		(490	)		342		1,452
Net change in unrealized loss on derivatives		(960	)		452		1,776
Other comprehensive income (loss)	$	(2,738	)	$	3,011	$	2,862