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Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2020
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 June 30, 2020 and 2019:
 
For the Three Months Ended June 30,
 
2020
 
2019
 
Before Tax
 
Tax Effect
 
After Tax
 
Before Tax
 
Tax Effect
 
After Tax
 
(In thousands)
Components of other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains on debt securities available for sale:
$
8,041

 
$
(1,689
)
 
$
6,352

 
$
17,829

 
$
(3,737
)
 
$
14,092

Accretion of unrealized gain on debt securities reclassified as held to maturity
(2
)
 
—

 
(2
)
 
(2
)
 
—

 
(2
)
Reclassification adjustment for gains included in net income
—

 
—

 
—

 
339

 
(79
)
 
260

 
8,039

 
(1,689
)
 
6,350

 
18,166

 
(3,816
)
 
14,350

Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Unrealized (loss) on swap contracts accounted for as cash flow hedges
(945
)
 
195

 
(750
)
 
(5,920
)
 
1,244

 
(4,676
)
 
(945
)
 
195

 
(750
)
 
(5,920
)
 
1,244

 
(4,676
)
 
 
 
 
 
 
 
 
 
 
 
 
Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Amortization of prior service cost included in net income
(14
)
 
3

 
(11
)
 
(14
)
 
3

 
(11
)
Reclassification adjustment of actuarial net gain included in net income
(1,071
)
 
226

 
(845
)
 
(925
)
 
194

 
(731
)
Change in funded status of retirement obligations
2,170

 
(456
)
 
1,714

 
(5,610
)
 
1,179

 
(4,431
)
 
1,085

 
(227
)
 
858

 
(6,549
)
 
1,376

 
(5,173
)
Total other comprehensive income
$
8,179

 
$
(1,721
)
 
$
6,458

 
$
5,697

 
$
(1,196
)
 
$
4,501















15.    Other Comprehensive Income (Loss) (continued)

 
For the Six Months Ended June 30,
 
2020
 
2019
 
Before Tax
 
Tax Effect
 
After Tax
 
Before Tax
 
Tax Effect
 
After Tax
 
(In thousands)
Components of other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains on debt securities available for sale:
$
32,425

 
$
(6,806
)
 
$
25,619

 
$
29,595

 
$
(6,208
)
 
$
23,387

Accretion of unrealized gain on debt securities reclassified as held to maturity
5

 
(1
)
 
4

 
11

 
(3
)
 
8

Reclassification adjustment for gains included in net income
370

 
(81
)
 
289

 
465

 
(105
)
 
360

 
32,800

 
(6,888
)
 
25,912

 
30,071

 
(6,316
)
 
23,755

Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Unrealized (loss) on swap contracts accounted for as cash flow hedges
(15,306
)
 
3,207

 
(12,099
)
 
(9,440
)
 
1,984

 
(7,456
)
 
(15,306
)
 
3,207

 
(12,099
)
 
(9,440
)
 
1,984

 
(7,456
)
 

 

 

 
 
 
 
 
 
Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Amortization of prior service cost included in net income
(28
)
 
6

 
(22
)
 
(28
)
 
6

 
(22
)
Reclassification adjustment of actuarial net (loss) included in net income
(2,142
)
 
450

 
(1,692
)
 
(1,849
)
 
388

 
(1,461
)
Change in funded status of retirement obligations
4,340

 
(911
)
 
3,429

 
(4,672
)
 
982

 
(3,690
)
 
2,170

 
(455
)
 
1,715

 
(6,549
)
 
1,376

 
(5,173
)
Total other comprehensive income
$
19,664

 
$
(4,136
)
 
$
15,528

 
$
14,082

 
$
(2,956
)
 
$
11,126
















15.    Other Comprehensive Income (Loss) (continued)

The following tables present the changes in the components of accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2020 and 2019:
 
For the Three Months Ended June 30,
 
2020
 
2019
 
Unrealized Gains on Debt Securities Available for Sale
 
Unrealized (Losses) on Swaps
 
Employee Benefit Plans
 
Accumulated Other Comprehensive (Loss)
 
Unrealized (Losses) Gains on Debt Securities Available for Sale
 
Unrealized Gains on Swaps
 
Employee Benefit Plans
 
Accumulated Other Comprehensive (Loss)
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of period
$
28,875

 
$
(19,823
)
 
$
(68,717
)
 
$
(59,665
)
 
$
(4,369
)
 
$
(4,786
)
 
$
(56,665
)
 
$
(65,820
)
Current period changes in other comprehensive income (loss)
6,350

 
(750
)
 
858

 
6,458

 
14,350

 
(4,676
)
 
(5,173
)
 
4,501

Total other comprehensive income (loss)
$
35,225

 
$
(20,573
)
 
$
(67,859
)
 
$
(53,207
)
 
$
9,981


$
(9,462
)

$
(61,838
)
 
$
(61,319
)
 
For the Six Months Ended June 30,
 
2020
 
2019
 
Unrealized Gains on Debt Securities Available for Sale
 
Unrealized (Losses) on Swaps
 
Employee Benefit Plans
 
Accumulated Other Comprehensive (Loss)
 
Unrealized (Losses) Gains on Debt Securities Available for Sale
 
Unrealized Gains on Swaps
 
Employee Benefit Plans
 
Accumulated Other Comprehensive (Loss)
 
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of period
$
9,313

 
$
(8,474
)
 
$
(69,574
)
 
$
(68,735
)
 
$
(13,226
)
 
$
(2,006
)
 
$
(56,665
)
 
$
(71,897
)
Effect of adoption of ASU 2016-01
—

 
—

 
—

 
—

 
(548
)
 
—

 
—

 
(548
)
Balance at January 1,
9,313

 
(8,474
)
 
(69,574
)
 
(68,735
)
 
(13,774
)
 
(2,006
)
 
(56,665
)
 
(72,445
)
Current period changes in other comprehensive income (loss)
25,912

 
(12,099
)
 
1,715

 
15,528

 
23,755

 
(7,456
)
 
(5,173
)
 
11,126

Total other comprehensive income (loss)
$
35,225

 
$
(20,573
)
 
$
(67,859
)
 
$
(53,207
)
 
$
9,981

 
$
(9,462
)
 
$
(61,838
)
 
$
(61,319
)





15.    Other Comprehensive Income (Loss) (continued)

The following tables reflect amounts reclassified from accumulated other comprehensive income (loss) to the Consolidated Statements of Income and the affected line item in the statement where net income is presented for the three and six months ended June 30, 2020 and 2019:
 
 
Accumulated Other Comprehensive Income (Loss) Components
 
 
 
 
For the Three Months Ended June 30,
 
Affected Line Items in the Consolidated Statements of Income
 
 
2020
 
2019
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
Reclassification adjustment for gains included in net income
 
$
—

 
$
339

 
Gain on securities transactions

Reclassification adjustment of actuarial net (loss) included in net income
 
(1,071
)
 
(925
)
 
Other non-interest expense
      Total before tax
 
(1,071
)
 
(586
)
 
 
      Income (tax) benefit
 
226

 
115

 
 
      Net of tax
 
$
(845
)
 
$
(471
)
 
 
 
 
Accumulated Other Comprehensive Income (Loss) Components
 
 
 
 
For the Six Months Ended June 30,
 
Affected Line Items in the Consolidated Statements of Income
 
 
2020
 
2019
 
 
 
 
(In thousands)
 
 
 
 
 
 
 
 
 
Reclassification adjustment for gains included in net income
 
$
370

 
$
465

 
Gain on securities transactions
Reclassification adjustment of actuarial net (loss) included in net income
 
(2,142
)
 
(1,849
)
 
Other non-interest expense
      Total before tax
 
(1,772
)
 
(1,384
)
 
 
      Income (tax) benefit
 
369

 
283

 
 
      Net of tax
 
$
(1,403
)
 
$
(1,101
)