XML 27 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Other Comprehensive Income (Loss)
 3 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss), both gross and net of tax, for the three months ended December 31, 2017 and 2016:

December 31, 2017

December 31, 2016

Before Tax

Tax Effect

After Tax

Before Tax

Tax Effect

After Tax

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





 





Unrealized gains on securities available for sale:





 





Net losses arising during the period
$
(2,892
)

(147
)

(3,039
)
 
(23,624
)

8,417


$
(15,207
)
Accretion of unrealized loss on securities reclassified as held-to-maturity
(2
)

(56
)

(58
)
 
—


—


—

Reclassification adjustment for (losses) gains included in net income
(60
)
94

13


(47
)
 
411


(147
)

264


(2,954
)

(190
)

(3,144
)
 
(23,213
)

8,270


(14,943
)






 





     Unrealized gain (loss) on swap contract
192


(28
)

164

 
—


—


—







 





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
(9
)

(94
)

(103
)
 
7


(2
)

5

Change in funded status of retirement obligations
(9,024
)

3,354


(5,670
)
 
20


132


152

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


(10,434
)

(10,434
)
 
—

 
—

 
—


(9,057
)

(7,193
)

(16,250
)
 
(1
)

140


139

Total other comprehensive loss
$
(11,819
)

(7,411
)

(19,230
)
 
(23,214
)

8,410


$
(14,804
)


    
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 three months ended December 31, 2017. The following tables present the changes in the components of accumulated other comprehensive income (loss), net of tax, for the three months ended December 31, 2017 and 2016:
 
December 31, 2017
 
Unrealized Gains on Securities Available for Sale

Employee Benefit Plans

Swaps
 
Accumulated Other Comprehensive Loss
 








 


Balance at beginning of year
$
(4,135
)

(42,105
)

60

 
$
(46,180
)
Current period changes in other comprehensive (loss) income
(1,830
)

(5,816
)

124

 
(7,522
)
Reclassification of tax effects resulting from the adoption of ASU No. 2018-02
(1,314
)
 
(10,434
)
 
40

 
(11,708
)
Total other comprehensive (loss) income
$
(7,279
)

(58,355
)

224

 
$
(65,410
)

 
December 31, 2016
 
Unrealized Gains on Securities Available for Sale

Employee Benefit Plans

Swaps
 
Accumulated Other Comprehensive Loss
 

Balance at beginning of year
$
5,664


(57,022
)

—

 
$
(51,358
)
Current period changes in other comprehensive (loss) income
(14,943
)

139


—

 
(14,804
)
Total other comprehensive (loss) income
$
(9,279
)

(56,883
)

—

 
$
(66,162
)


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 months ended December 31, 2017 and 2016:


December 31,
 



2017

2016
 

Accumulated other Comprehensive (Loss) Income Components




 
Affected line items in the Consolidated Statements of Income
Reclassification adjustment for (loss) gain included in net income

(60
)

411

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

(9
)

7

 
Compensation and employee benefits expense
      Total before tax

(69
)

418

 

      Income tax benefit

(81
)

(149
)
 

      Net of tax

(150
)

269