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Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Change in components of other comprehensive income (loss)
The following summarizes the change in the components of other comprehensive income.
 
Three Months Ended September 30,
 
2020
 
2019
 
Pretax
 
Tax Expense/ (Benefit)
 
After-tax
 
Pretax
 
Tax Expense/ (Benefit)
 
After-tax
 
(In Thousands)
Other comprehensive income:
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding (losses) gains arising during period from debt securities available for sale
$
(8,290
)
 
$
(1,979
)
 
$
(6,311
)
 
$
42,553

 
$
10,089

 
$
32,464

Less: reclassification adjustment for net gains on sale of debt securities in net income
—

 
—

 
—

 
21,003

 
4,980

 
16,023

Net change in unrealized (losses) gains on debt securities available for sale
(8,290
)
 
(1,979
)
 
(6,311
)
 
21,550

 
5,109

 
16,441

Change in unamortized net holding gains on debt securities held to maturity
2,160

 
516

 
1,644

 
2,915

 
692

 
2,223

Less: non-credit related impairment on debt securities held to maturity
—

 
—

 
—

 
—

 
—

 
—

Change in unamortized non-credit related impairment on debt securities held to maturity
134

 
32

 
102

 
229

 
54

 
175

Net change in unamortized holding gains on debt securities held to maturity
2,294

 
548

 
1,746

 
3,144

 
746

 
2,398

Unrealized holding (losses) gains arising during period from cash flow hedge instruments
(44,951
)
 
(10,725
)
 
(34,226
)
 
44,121

 
10,459

 
33,662

Change in defined benefit plans
—

 
—

 
—

 
—

 
—

 
—

Other comprehensive (loss) income
$
(50,947
)
 
$
(12,156
)
 
$
(38,791
)
 
$
68,815

 
$
16,314

 
$
52,501

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30,
 
2020
 
2019
 
Pretax
 
Tax Expense/ (Benefit)
 
After-tax
 
Pretax
 
Tax Expense/ (Benefit)
 
After-tax
 
(In Thousands)
Other comprehensive income:
 
 
 
 
 
 
 
 
 
 
 
Unrealized holding gains arising during period from debt securities available for sale
$
164,304

 
$
39,201

 
$
125,103

 
$
222,660

 
$
52,792

 
$
169,868

Less: reclassification adjustment for net gains on sale of debt securities in net income
22,616

 
5,396

 
17,220

 
29,961

 
7,104

 
22,857

Net change in unrealized gains on debt securities available for sale
141,688

 
33,805

 
107,883

 
192,699

 
45,688

 
147,011

Change in unamortized net holding gains on debt securities held to maturity
6,469

 
1,545

 
4,924

 
7,741

 
1,836

 
5,905

Less: non-credit related impairment on debt securities held to maturity
—

 
—

 
—

 
108

 
26

 
82

Change in unamortized non-credit related impairment on debt securities held to maturity
449

 
108

 
341

 
885

 
210

 
675

Net change in unamortized holding gains on debt securities held to maturity
6,918

 
1,653

 
5,265

 
8,518

 
2,020

 
6,498

Unrealized holding gains arising during period from cash flow hedge instruments
330,370

 
78,826

 
251,544

 
172,571

 
40,906

 
131,665

Change in defined benefit plans
2,301

 
547

 
1,754

 
4,089

 
970

 
3,119

Other comprehensive income
$
481,277

 
$
114,831

 
$
366,446

 
$
377,877

 
$
89,584

 
$
288,293
Schedule of accumulated other comprehensive income (loss)
Activity in accumulated other comprehensive income (loss), net of tax was as follows:
 
Unrealized Gains (Losses) on Debt Securities Available for Sale and Transferred to Held to Maturity
 
Accumulated Gains (Losses) on Cash Flow Hedging Instruments
 
Defined Benefit Plan Adjustment
 
Unamortized Impairment Losses on Debt Securities Held to Maturity
 
Total
 
(In Thousands)
Balance, December 31, 2018
$
(158,433
)
 
$
6,175

 
$
(29,495
)
 
$
(5,095
)
 
$
(186,848
)
Cumulative effect of adoption of ASUs (1)
(25,844
)
 
(1,040
)
 
(7,351
)
 
(1,201
)
 
(35,436
)
 
$
(184,277
)
 
$
5,135

 
$
(36,846
)
 
$
(6,296
)
 
$
(222,284
)
Other comprehensive income (loss) before reclassifications
169,868

 
129,110

 
—

 
(82
)
 
298,896

Amounts reclassified from accumulated other comprehensive (loss) income
(16,952
)
 
2,555

 
3,119

 
675

 
(10,603
)
Net current period other comprehensive income
152,916

 
131,665

 
3,119

 
593

 
288,293

Balance, September 30, 2019
$
(31,361
)
 
$
136,800

 
$
(33,727
)
 
$
(5,703
)
 
$
66,009

 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2019
$
(40,080
)
 
$
91,445

 
$
(46,666
)
 
$
(5,771
)
 
$
(1,072
)
Other comprehensive income before reclassifications
125,103

 
313,311

 
—

 
—

 
438,414

Amounts reclassified from accumulated other comprehensive (loss) income
(12,296
)
 
(61,767
)
 
1,754

 
341

 
(71,968
)
Net current period other comprehensive income
112,807

 
251,544

 
1,754

 
341

 
366,446

Balance, September 30, 2020
$
72,727

 
$
342,989

 
$
(44,912
)
 
$
(5,430
)
 
$
365,374


(1)
Related to the Company's adoption of ASU 2017-12 and ASU 2018-02 on January 1, 2019.
Schedule of reclassifications out of accumulated other comprehensive income
The following table presents information on reclassifications out of accumulated other comprehensive income (loss).
Details About Accumulated Other Comprehensive Income (Loss) Components
 
Amounts Reclassified From Accumulated Other Comprehensive Income (Loss) (1)
 
Condensed Consolidated Statements of Income Caption
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
 
 
2020
 
2019
 
2020
 
2019
 
 
 
 
(In Thousands)
 
 
Unrealized Gains (Losses) on Debt Securities Available for Sale and Transferred to Held to Maturity
 
$
—

 
$
21,003

 
$
22,616

 
$
29,961

 
Investment securities gains, net
 
 
(2,160
)
 
(2,915
)
 
(6,469
)
 
(7,741
)
 
Interest on debt securities held to maturity
 
 
(2,160
)
 
18,088

 
16,147

 
22,220

 
 
 
 
516

 
(4,288
)
 
(3,851
)
 
(5,268
)
 
Income tax (expense) benefit
 
 
$
(1,644
)
 
$
13,800

 
$
12,296

 
$
16,952

 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Accumulated Gains (Losses) on Cash Flow Hedging Instruments
 
$
43,671

 
$
(295
)
 
$
82,963

 
$
(2,765
)
 
Interest and fees on loans
 
 
(832
)
 
(254
)
 
(1,841
)
 
(584
)
 
Interest on FHLB and other borrowings
 
 
42,839

 
(549
)
 
81,122

 
(3,349
)
 
 
 
 
(10,221
)
 
130

 
(19,355
)
 
794

 
Income tax (expense) benefit
 
 
$
32,618

 
$
(419
)
 
$
61,767

 
$
(2,555
)
 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Defined Benefit Plan Adjustment
 
$
—

 
$
—

 
$
(2,301
)
 
$
(4,089
)
 
(2)
 
 
—

 
—

 
547

 
970

 
Income tax benefit
 
 
$
—

 
$
—

 
$
(1,754
)
 
$
(3,119
)
 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Unamortized Impairment Losses on Debt Securities Held to Maturity
 
$
(134
)
 
$
(229
)
 
$
(449
)
 
$
(885
)
 
Interest on debt securities held to maturity
 
 
32

 
54

 
108

 
210

 
Income tax benefit
 
 
$
(102
)
 
$
(175
)
 
$
(341
)
 
$
(675
)
 
Net of tax
(1)
Amounts in parentheses indicate debits to the Unaudited Condensed Consolidated Statements of Income.
(2)
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 17, Benefit Plans, in the Notes to the December 31, 2019, Consolidated Financial Statements for additional details).