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Other Comprehensive Income (Loss)
 6 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)

The following tables present the components of other comprehensive income (loss), both gross and net of tax, for the three and six months ended March 31, 2018 and 2017:

For the Three Months Ended

March 31, 2018

March 31, 2017

Before Tax

Tax Effect

After Tax

Before Tax

Tax Effect

After Tax

(In thousands)
Components of Other Comprehensive (Loss) Income:











Unrealized gains and losses on securities available-for-sale:











Net losses arising during the period
$
(11,594
)

1,609


(9,985
)

651


(257
)

$
394

Accretion of unrealized loss on securities reclassified as held-to-maturity
(17
)

36


19


—


—


—

Reclassification adjustment for gains included in net income
116


(28
)

88


—


—


—


(11,495
)

1,617


(9,878
)

651


(257
)

394













     Unrealized gain on swap contract
382


(40
)

342


9


(3
)

6


382


(40
)

342


9


(3
)

6













Employee benefit plans:











Amortization of prior service cost included in net income
(24
)

(19
)

(43
)

(28
)

10


(18
)
Reclassification adjustment of actuarial net (loss) gain included in net income
(8
)

(94
)

(102
)

7


(2
)

5

Change in funded status of retirement obligations
33


(301
)

(268
)

21


(156
)

(135
)

1


(414
)

(413
)

—


(148
)

(148
)
Total other comprehensive (loss) income
$
(11,112
)

1,163


(9,949
)

660


(408
)

$
252



For the Six Months Ended

March 31, 2018

March 31, 2017

Before Tax

Tax Effect

After Tax

Before Tax

Tax Effect

After Tax

(In thousands)
Components of Other Comprehensive (Loss) Income:

















Unrealized gains and losses on securities available-for-sale:

















Net losses arising during the period
$
(14,584
)

1,454


(13,130
)

(23,012
)

8,197


$
(14,815
)
Accretion of unrealized loss on securities reclassified as held-to-maturity
(73
)

90


17


—


—


—

Reclassification adjustment for gains included in net income
55


(27
)

28


411


(144
)

267


(14,602
)

1,517


(13,085
)

(22,601
)

8,053


(14,548
)


















     Unrealized loss on swap contract
669


(164
)

505


9


(4
)

5


669


(164
)

505


9


(4
)

5



















Employee benefit plans:

















Amortization of prior service cost included in net income
(47
)

(38
)

(85
)

(57
)

20


(37
)
Reclassification adjustment of actuarial net loss included in net income
(18
)

(187
)

(205
)

15


(4
)

11

Change in funded status of retirement obligations
(10,664
)

4,788


(5,876
)

42


(25
)

17

      Tax effects resulting from the adoption of ASU No. 2018-02
—


(10,434
)

(10,434
)

—


—


—


(10,729
)

(5,871
)

(16,600
)

—


(9
)

(9
)
Total other comprehensive (loss)
$
(24,662
)

(4,518
)

(29,180
)

(22,592
)

8,040


$
(14,552
)


The Company, in accordance with ASU No. 2018-02, has elected to reclassify the income tax effects of the Tax Act from accumulated other comprehensive (loss) income to retained earnings for the six months ended March 31, 2018. The following tables present the changes in the components of accumulated other comprehensive (loss) income, net of tax, for the three and six months ended March 31, 2018 and 2017:

For the Three Months Ended

March 31, 2018

March 31, 2017

Unrealized Gains on Securities Available-for- Sale

Swaps

Employee Benefit Plans
 
Accumulated Other Comprehensive Loss

Unrealized Gains on Securities Available-for-Sale

Swaps

Employee Benefit Plans
 
Accumulated Other Comprehensive Loss

(In Thousands)

(In Thousands)
Balance at beginning of year
$
(7,345
)

224


(58,290
)
 
(65,411
)

(9,279
)

—


(56,883
)
 
$
(66,162
)
Current period changes in other comprehensive (loss) income
(9,878
)

342


(413
)
 
(9,949
)

394


6


(148
)
 
252

Total other comprehensive (loss) income
$
(17,223
)

566


(58,703
)
 
(75,360
)

(8,885
)

6


(57,031
)
 
$
(65,910
)


For the Six Months Ended

March 31, 2018

March 31, 2017

Unrealized Gains on Securities Available-for-Sale

Swaps

Employee Benefit Plans
 
Accumulated Other Comprehensive Loss

Unrealized Gains on Securities Available-for-Sale

Swaps

Employee Benefit Plans
 
Accumulated Other Comprehensive Loss
 
(In Thousands)

(In Thousands)
Balance at beginning of year
$
(4,075
)

—


(42,105
)
 
(46,180
)

5,664


—


(57,022
)
 
$
(51,358
)
Current period changes in other comprehensive (loss) income
(11,771
)

465


(6,166
)
 
(17,472
)

(14,548
)

5


(9
)
 
(14,552
)
Tax effects resulting from the adoption of ASU No. 2018-02
(1,314
)

40


(10,434
)
 
(11,708
)

—


—


—

 
—

Total other comprehensive (loss) income
$
(17,160
)

505


(58,705
)
 
(75,360
)

(8,884
)

5


(57,031
)
 
$
(65,910
)
The following table reflects amounts reclassified from accumulated other comprehensive (loss) income to the consolidated statement of income and the affected line item in the statement where net income is presented for the three and six months ended March 31, 2018 and 2017:


For the Three Months Ended




March 31, 2018

March 31, 2017


Accumulated other Comprehensive (Loss) Income Components





Affected line items in the Consolidated Statements of Income
Reclassification adjustment for gains included in net income

$
116


$
—


Gains on securities transactions, net
Reclassification adjustment of actuarial net (loss) gain included in net income

(8
)

7


Compensation and employee benefits expense
      Total before tax

108


7



      Income tax benefit

(122
)

(2
)


      Net of tax

$
(14
)

$
5






For the Six Months Ended




March 31, 2018

March 31, 2017


Accumulated other Comprehensive (Loss) Income Components





Affected line items in the Consolidated Statements of Income
Reclassification adjustment for gains included in net income

$
55


$
411


Gains on securities transactions, net
Reclassification adjustment of actuarial net (loss) gain included in net income

(18
)

15


Compensation and employee benefits expense
      Total before tax

37


426



      Income tax benefit

(214
)

(148
)


      Net of tax

$
(177
)

$
278