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Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 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 years ended December 31, 2018, September 30, 2017 and 2016, and the three months ended December 31, 2017:
 
For the Year Ended December 31,
 
For the Three Months Ended December 31,
 
2018
 
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 (loss) gain arising during the period
$
(7,224
)
 
$
1,446

 
$
(5,778
)
 
$
(3,012
)
 
$
(119
)
 
$
(3,131
)
Accretion of unrealized loss on securities reclassified as held to maturity
(13
)
 
—

 
(13
)
 
(2
)
 
(56
)
 
(58
)
Reclassification adjustment for (gain) loss included in net income
(116
)
 
24

 
(92
)
 
60

 
(13
)
 
47


(7,353
)
 
1,470

 
(5,883
)
 
(2,954
)
 
(188
)
 
(3,142
)

 
 
 
 
 
 
 
 
 
 
 
Unrealized (loss) gain on swap contract
(2,825
)
 
595

 
(2,230
)
 
192

 
(30
)
 
162


 
 
 
 
 
 
 
 
 
 
 
Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Amortization of prior service cost included in net income
(623
)
 
132

 
(491
)
 
(24
)
 
(19
)
 
(43
)
Reclassification adjustment of actuarial net (loss) gain included in net income
2,526

 
(530
)
 
1,996

 
(9
)
 
(94
)
 
(103
)
Change in funded status of retirement obligations
897

 
(776
)
 
121

 
(9,024
)
 
3,354

 
(5,670
)
Tax effects resulting from the adoption of ASU No. 2018-02
—

 
—

 
—

 
—

 
(10,434
)
 
(10,434
)

2,800

 
(1,174
)
 
1,626

 
(9,057
)
 
(7,193
)
 
(16,250
)
Total other comprehensive (loss)
$
(7,378
)
 
$
891

 
$
(6,487
)
 
$
(11,819
)
 
$
(7,411
)
 
$
(19,230
)

The Company, in accordance with ASU No. 2018-02, elected to reclassify the income tax effects of the Tax Act from accumulated other comprehensive (loss) income to retained earnings for the year ended December 31, 2017.














(18)    Other Comprehensive Income (Loss) (continued)

 
For the Years Ended September 30,
 
2017
 
2016
 
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 (loss) gain arising during the period
$
(17,877
)
 
$
6,379

 
$
(11,498
)
 
$
7,271

 
$
(2,597
)
 
$
4,674

Accretion of unrealized gain on securities reclassified as held to maturity
12

 
(4
)
 
8

 
—

 
—

 
—

Reclassification adjustment for loss (gain) included in net income
2,626

 
(937
)
 
1,689

 
(552
)
 
197

 
(355
)
 
(15,239
)
 
5,438

 
(9,801
)
 
6,719

 
(2,400
)
 
4,319

 
 
 
 
 
 
 
 
 
 
 
 
     Unrealized gain on swap contract
95

 
(33
)
 
62

 
—

 
—

 
—

 
95

 
(33
)
 
62

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Amortization of prior service cost included in net income
(114
)
 
41

 
(73
)
 
(114
)
 
41

 
(73
)
Reclassification adjustment of actuarial net gains (losses) included in net income
11,806

 
(4,213
)
 
7,593

 
9,123

 
(3,259
)
 
5,864

Change in funded status of retirement obligations
11,503

 
(4,106
)
 
7,397

 
(33,287
)
 
11,890

 
(21,397
)
 
23,195

 
(8,278
)
 
14,917

 
(24,278
)
 
8,672

 
(15,606
)
Total other comprehensive income (loss)
$
8,051

 
$
(2,873
)
 
$
5,178

 
$
(17,559
)
 
$
6,272

 
$
(11,287
)



(18)    Other Comprehensive Income (Loss) (continued)

The following tables present the changes in the components of accumulated other comprehensive (loss) income, net of tax, for the years ended ended December 31, 2018, September 30, 2017 and 2016, and the three months ended December 31, 2017:
 
For the Year Ended December 31,
 
For the Three Months Ended December 31,
 
2018
 
2017
 
Unrealized (losses) gains on securities available for sale
 
Unrealized gains (losses) on swaps
 
Employee benefit plans
 
Accumulated other comprehensive loss
 
Unrealized (losses) gains on securities available for sale
 
Unrealized gains (losses) on swaps
 
Employee benefit plans
 
Accumulated other comprehensive loss
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of period
$
(7,279
)
 
$
224

 
$
(58,355
)
 
$
(65,410
)
 
$
(4,137
)
 
$
62

 
$
(42,105
)
 
$
(46,180
)
Current period changes in other comprehensive (loss) income
(5,883
)
 
(2,230
)
 
1,626

 
(6,487
)
 
(1,828
)
 
122

 
(5,816
)
 
(7,522
)
Reclassification of tax effects resulting from the adoption of ASU No. 2018-02
—

 
—

 
—

 
—

 
(1,314
)
 
40

 
(10,434
)
 
(11,708
)
Total other comprehensive (loss) income
$
(13,162
)
 
$
(2,006
)
 
$
(56,729
)
 
$
(71,897
)
 
$
(7,279
)
 
$
224

 
$
(58,355
)
 
$
(65,410
)




















(18)    Other Comprehensive Income (Loss) (continued)

 
For the Years Ended September 30,
 
2017
 
2016
 
Unrealized (losses) gains on securities available for sale
 
Unrealized gains (losses) on swaps
 
Employee benefit plans
 
Accumulated other comprehensive loss
 
Unrealized (losses) gains on securities available for sale
 
Unrealized gains (losses) on swaps
 
Employee benefit plans
 
Accumulated other comprehensive loss
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of period
$
5,664

 
$
—

 
$
(57,022
)
 
$
(51,358
)
 
$
1,345

 
$
—

 
$
(41,416
)
 
$
(40,071
)
Current period changes in other comprehensive (loss) income
(9,801
)
 
62

 
14,917

 
5,178

 
4,319

 
—

 
(15,606
)
 
(11,287
)
Total other comprehensive (loss) income
$
(4,137
)
 
$
62

 
$
(42,105
)
 
$
(46,180
)
 
$
5,664

 
$
—

 
$
(57,022
)
 
$
(51,358
)
    
The following table reflects amounts reclassified out of accumulated other comprehensive (loss) income to the Consolidated Statements of Income and the affected line item in the statement where net income is presented for the years ended ended December 31, 2018, September 30, 2017 and 2016, and the three months ended December 31, 2017:
 
 
Accumulated other comprehensive (loss) income components
 
 
 
 
For the Year Ended December 31,
 
For the Three Months Ended December 31,
 
Affected line items in the Consolidated Statements of Income
 
 
2018
 
2017
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
Reclassification adjustment for gains included in net income
 
$
(116
)
 
$
60

 
Gains on securities transactions, net
Reclassification adjustment of actuarial net gain included in net income
 
2,526

 
(9
)
 
Compensation and employee benefits expense
      Total before tax
 
2,410

 
51

 
 
      Income tax benefit
 
(506
)
 
(107
)
 
 
      Net of tax
 
$
1,904

 
$
(56
)
 
 








(18)    Other Comprehensive Income (Loss) (continued)

 
 
Accumulated other comprehensive (loss) income components
 
 
 
 
For the Years Ended September 30,
 
Affected line items in the Consolidated Statements of Income
 
 
2017
 
2016
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
Reclassification adjustment for gains included in net income
 
$
2,626

 
$
(552
)
 
Gains on securities transactions, net
Reclassification adjustment of actuarial net gain included in net income
 
11,806

 
9,123

 
Compensation and employee benefits expense
      Total before tax
 
14,432

 
8,571

 
 
      Income tax (benefit) expense
 
(5,150
)
 
(3,062
)
 
 
      Net of tax
 
$
9,282

 
$
5,509