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Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)

The following tables present reclassifications out of the accumulated other comprehensive income (loss) for the three and nine month periods ended September 30, 2018 and 2017.

 
Three Months Ended September 30, 2018
(in thousands)
Before-Tax
Amount
 
Tax (Expense)
Benefit
 
Net of Tax
Available-for-sale securities:
 
 
 
 
 
Change in net unrealized gain/loss during the period
$
(7,691
)
 
$
1,885

 
$
(5,806
)
Reclassification adjustment for net realized gain on sale of available-for-sale securities included in net income
(30
)
 
7

 
(23
)
Net unrealized gains/losses
(7,721
)
 
1,892

 
(5,829
)
 
 
 
 
 
 
Employee benefit plans:
 
 
 
 
 
Amortization of net retirement plan actuarial gain
430

 
(105
)
 
325

Amortization of net retirement plan prior service cost
4

 
(1
)
 
3

Employee benefit plans
434

 
(106
)
 
328

Other comprehensive (loss) income
$
(7,287
)
 
$
1,786

 
$
(5,501
)
 
 
Three Months Ended September 30, 2017
(in thousands)
Before-Tax
Amount
 
Tax (Expense)
Benefit
 
Net of Tax
Available-for-sale securities:
 
 
 
 
 
Change in net unrealized gain/loss during the period
$
712

 
$
(286
)
 
$
426

Reclassification adjustment for net realized loss on sale of available-for-sale securities included in net income
423

 
(169
)
 
254

Net unrealized gains
1,135

 
(455
)
 
680

 
 
 
 
 
 
Employee benefit plans:
 
 
 
 
 
Amortization of net retirement plan actuarial gain
376

 
(149
)
 
227

Amortization of net retirement plan prior service cost
3

 
(1
)
 
2

Employee benefit plans
379

 
(150
)
 
229

Other comprehensive income
$
1,514

 
$
(605
)
 
$
909

 


 
Nine Months Ended September 30, 2018
(in thousands)
Before-Tax
Amount
 
Tax (Expense)
Benefit
 
Net of Tax
Available-for-sale securities:
 
 
 
 
 
Change in net unrealized gain/loss during the period
$
(32,375
)
 
$
7,932

 
$
(24,443
)
Reclassification adjustment for net realized gain on sale of available-for-sale securities included in net income
(324
)
 
79

 
(245
)
Net unrealized gains/losses
(32,699
)
 
8,011

 
(24,688
)
 
 
 
 
 
 
Employee benefit plans:
 
 
 
 
 
Amortization of net retirement plan actuarial loss
1,289

 
(316
)
 
973

Amortization of net retirement plan prior service cost
12

 
(3
)
 
9

Employee benefit plans
1,301

 
(319
)
 
982

Other comprehensive (loss) income
$
(31,398
)
 
$
7,692

 
$
(23,706
)


 
Nine Months Ended September 30, 2017
(in thousands)
Before-Tax
Amount
 
Tax (Expense)
Benefit
 
Net of Tax
Available-for-sale securities:
 
 
 
 
 
Change in net unrealized gain/loss during the period
$
5,756

 
$
(2,302
)
 
$
3,454

Reclassification adjustment for net realized loss on sale of available-for-sale securities included in net income
423

 
(169
)
 
254

Net unrealized  gains
6,179

 
(2,471
)
 
3,708

 
 
 
 
 
 
Employee benefit plans:
 
 
 
 
 
Amortization of net retirement plan actuarial loss
1,130

 
(451
)
 
679

Amortization of net retirement plan prior service cost
11

 
(4
)
 
7

Employee benefit plans
1,141

 
(455
)
 
686

Other comprehensive income
$
7,320

 
$
(2,926
)
 
$
4,394




















The following table presents the activity in our accumulated other comprehensive income (loss) for the periods indicated:
 
(in thousands)
Available-for-
Sale Securities
 
Employee
Benefit Plans
 
Accumulated
Other
Comprehensive
(Loss) Income
Balance at July 1, 2018
$
(31,800
)
 
$
(37,636
)
 
$
(69,436
)
Other comprehensive income (loss) before reclassifications
(5,806
)
 
0

 
(5,806
)
Amounts reclassified from accumulated other comprehensive (loss) income
(23
)
 
328

 
305

Net current-period other comprehensive (loss) income
(5,829
)
 
328

 
(5,501
)
Balance at September 30, 2018
$
(37,629
)
 
$
(37,308
)
 
$
(74,937
)
 
 
 
 
 
 
Balance at January 1, 2018
$
(13,005
)
 
$
(38,291
)
 
$
(51,296
)
Other comprehensive income (loss) before reclassifications
(24,444
)
 
0

 
(24,444
)
Amounts reclassified from accumulated other comprehensive (loss) income
(245
)
 
983

 
738

Net current-period other comprehensive (loss) income
(24,689
)
 
983

 
(23,706
)
Balance at Adoption of ASU 2016-01
65

 
0

 
65

Balance at September 30, 2018
$
(37,629
)
 
$
(37,308
)
 
$
(74,937
)

(in thousands)
Available-for-
Sale Securities
 
Employee
Benefit Plans
 
Accumulated
Other
Comprehensive
(Loss) Income
Balance at July 1, 2017
$
(4,887
)
 
$
(28,737
)
 
$
(33,624
)
Other comprehensive income before reclassifications
426

 
0

 
426

Amounts reclassified from accumulated other comprehensive (loss) income
254

 
229

 
483

Net current-period other comprehensive income
680

 
229

 
909

Balance at September 30, 2017
$
(4,207
)
 
$
(28,508
)
 
$
(32,715
)
 
 
 
 
 
 
Balance at January 1, 2017
$
(7,915
)
 
$
(29,194
)
 
$
(37,109
)
Other comprehensive income before reclassifications
3,454

 
0

 
3,454

Amounts reclassified from accumulated other comprehensive (loss) income
254

 
686

 
940

Net current-period other comprehensive income
3,708

 
686

 
4,394

Balance at September 30, 2017
$
(4,207
)
 
$
(28,508
)
 
$
(32,715
)

The following tables present the amounts reclassified out of each component of accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2018 and 2017. 
Three Months Ended September 30, 2018
 
 
 
Details about Accumulated other Comprehensive Income (Loss) Components (in thousands)
Amount
Reclassified from
Accumulated
Other
Comprehensive
(Loss) Income1
 
Affected Line Item in the
Statement Where Net Income is
Presented
Available-for-sale securities:
 
 
 
Unrealized gains and losses on available-for-sale securities
$
30

 
Net gain on securities transactions
 
(7
)
 
Tax expense
 
23

 
Net of tax
Employee benefit plans:
 
 
 
Amortization of the following 2
 
 
 
Net retirement plan actuarial loss
(430
)
 
Other operating expense
Net retirement plan prior service cost
(4
)
 
Other operating expense
 
(434
)
 
Total before tax
 
106

 
Tax benefit
 
(328
)
 
Net of tax
 



Nine Months Ended September 30, 2018
 
 
 
Details about Accumulated other Comprehensive Income (Loss) Components (in thousands)
Amount
Reclassified from
Accumulated
Other
Comprehensive
(Loss) Income1
 
Affected Line Item in the
Statement Where Net Income is
Presented
Available-for-sale securities:
 
 
 
Unrealized gains and losses on available-for-sale securities
$
324

 
Net gain on securities transactions
 
(79
)
 
Tax expense
 
245

 
Net of tax
Employee benefit plans:
 
 
 
Amortization of the following 2
 
 
 
Net retirement plan actuarial loss
(1,289
)
 
Other operating expense
Net retirement plan prior service cost
(12
)
 
Other operating expense
 
(1,301
)
 
Total before tax
 
319

 
Tax benefit
 
(982
)
 
Net of tax




Three Months Ended September 30, 2017
 
 
 
Details about Accumulated other Comprehensive Income (Loss) Components (in thousands)
Amount
Reclassified from
Accumulated
Other
Comprehensive
(Loss) Income1
 
Affected Line Item in the
Statement Where Net Income is
Presented
Available-for-sale securities:
 
 
 
Unrealized gains and losses on available-for-sale securities
$
(423
)
 
Net gain on securities transactions
 
169

 
Tax expense
 
(254
)
 
Net of tax
Employee benefit plans:
 
 
 
Amortization of the following 2
 
 
 
Net retirement plan actuarial loss
(376
)
 
Other operating expense
Net retirement plan prior service cost
(3
)
 
Other operating expense
 
(379
)
 
Total before tax
 
150

 
Tax benefit
 
(229
)
 
Net of tax



Nine Months Ended September 30, 2017
 
 
 
Details about Accumulated other Comprehensive Income (Loss) Components (in thousands)
Amount
Reclassified from
Accumulated
Other
Comprehensive
(Loss) Income1
 
Affected Line Item in the
Statement Where Net Income is
Presented
Available-for-sale securities:
 
 
 
Unrealized gains and losses on available-for-sale securities
$
(423
)
 
Net gain on securities transactions
 
169

 
Tax expense
 
(254
)
 
Net of tax
Employee benefit plans:
 
 
 
Amortization of the following2
 
 
 
Net retirement plan actuarial loss
(1,130
)
 
Other operating expense
Net retirement plan prior service cost
(11
)
 
Other operating expense
 
(1,141
)
 
Total before tax
 
455

 
Tax benefit
 
(686
)
 
Net of tax

1 Amounts in parentheses indicated debits in income statement.
2 The accumulated other comprehensive (loss) income components are included in the computation of net periodic benefit cost (See Note 9 - “Employee Benefit Plan”).