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Other Comprehensive Income (Loss) (Tables)
9 Months Ended
Sep. 30, 2013
Equity [Abstract]  
Component of Other Comprehensive Income (Loss)
The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the following table. Reclassification adjustments related to securities available for sale are included in net gain (loss) on securities transactions in the accompanying consolidated statements of income. The change in the net actuarial gain/loss on defined-benefit post-retirement benefit plans is included in the computation of net periodic pension expense (see Note 12 – Defined Benefit Plans). Reclassification adjustments related to interest rate swaps on variable-rate loans are included in interest income and fees on loans in the accompanying consolidated statements of income. Reclassification adjustments related to the interest rate swap on junior subordinated deferrable interest debentures are included in interest expense on junior subordinated deferrable interest debentures in the accompanying consolidated statements of income.
 
Three Months Ended 
 September 30, 2013
 
Three Months Ended 
 September 30, 2012
 
Before Tax
Amount
 
Tax  Expense,
(Benefit)
 
Net of  Tax
Amount
 
Before Tax
Amount
 
Tax  Expense,
(Benefit)
 
Net of  Tax
Amount
Securities available for sale and transferred securities:
 
 
 
 
 
 
 
 
 
 
 
Change in net unrealized gain/loss during the period
$
(551
)
 
$
(193
)
 
$
(358
)
 
$
40,122

 
$
14,043

 
$
26,079

Change in net unrealized gain on securities transferred to held to maturity
(8,054
)
 
(2,818
)
 
(5,236
)
 

 

 

Reclassification adjustment for net (gains) losses included in net income
14

 
5

 
9

 

 

 

Total securities available for sale and transferred securities
(8,591
)
 
(3,006
)
 
(5,585
)
 
40,122

 
14,043

 
26,079


 
 
 
 
 
 
 
 
 
 
 
Defined-benefit post-retirement benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Change in the net actuarial gain/loss
1,640

 
574

 
1,066

 
1,427

 
499

 
928


 
 
 
 
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Change in the accumulated gain/loss on effective cash flow hedge derivatives
(15
)
 
(5
)
 
(10
)
 
(269
)
 
(93
)
 
(176
)
Reclassification adjustments for (gains) losses included in net income:
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps on variable-rate loans
(9,345
)
 
(3,271
)
 
(6,074
)
 
(9,345
)
 
(3,271
)
 
(6,074
)
Interest rate swap on junior subordinated deferrable interest debentures
1,120

 
392

 
728

 
1,063

 
372

 
691

Total derivatives
(8,240
)
 
(2,884
)
 
(5,356
)
 
(8,551
)
 
(2,992
)
 
(5,559
)
Total other comprehensive income (loss)
$
(15,191
)
 
$
(5,316
)
 
$
(9,875
)
 
$
32,998

 
$
11,550

 
$
21,448

 
Nine Months Ended 
 September 30, 2013
 
Nine Months Ended 
 September 30, 2012
 
Before Tax
Amount
 
Tax Expense,
(Benefit)
 
Net of Tax
Amount
 
Before Tax
Amount
 
Tax Expense,
(Benefit)
 
Net of Tax
Amount
Securities available for sale and transferred securities:
 
 
 
 
 
 
 
 
 
 
 
Change in net unrealized gain/loss during the period
$
(95,920
)
 
$
(33,572
)
 
$
(62,348
)
 
$
62,972

 
$
22,041

 
$
40,931

Change in net unrealized gain on securities transferred to held to maturity
(26,258
)
 
(9,190
)
 
(17,068
)
 

 

 

Reclassification adjustment for net (gains) losses included in net income
3

 
1

 
2

 
121

 
42

 
79

Total securities available for sale and transferred securities
(122,175
)
 
(42,761
)
 
(79,414
)
 
63,093

 
22,083

 
41,010

 
 
 
 
 
 
 
 
 
 
 
 
Defined-benefit post-retirement benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Change in the net actuarial gain/loss
4,919

 
1,722

 
3,197

 
4,084

 
1,429

 
2,655

 
 
 
 
 
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Change in the accumulated gain/loss on effective cash flow hedge derivatives
(48
)
 
(17
)
 
(31
)
 
(760
)
 
(266
)
 
(494
)
Reclassification adjustments for (gains) losses included in net income:
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps on variable-rate loans
(28,035
)
 
(9,812
)
 
(18,223
)
 
(28,035
)
 
(9,812
)
 
(18,223
)
Interest rate swap on junior subordinated deferrable interest debentures
3,308

 
1,158

 
2,150

 
3,140

 
1,099

 
2,041

Total derivatives
(24,775
)
 
(8,671
)
 
(16,104
)
 
(25,655
)
 
(8,979
)
 
(16,676
)
Total other comprehensive income (loss)
$
(142,031
)
 
$
(49,710
)
 
$
(92,321
)
 
$
41,522

 
$
14,533

 
$
26,989

Schedule of Accumulated Other Comprehensive Income, Net of Tax
Activity in accumulated other comprehensive income (loss), net of tax, was as follows:
 
Securities
Available
For Sale
 
Defined
Benefit
Plans
 
Derivatives
 
Accumulated
Other
Comprehensive
Income
Balance January 1, 2013
$
245,539

 
$
(49,071
)
 
$
41,580

 
$
238,048

Other comprehensive income (loss) before reclassifications
(79,416
)
 
3,197

 
(31
)
 
(76,250
)
Amounts reclassified from accumulated other comprehensive income (loss)
2

 

 
(16,073
)
 
(16,071
)
Net other comprehensive income (loss) during period
(79,414
)
 
3,197

 
(16,104
)
 
(92,321
)
Balance September 30, 2013
$
166,125

 
$
(45,874
)
 
$
25,476

 
$
145,727

 
 
 
 
 
 
 
 
Balance January 1, 2012
$
227,052

 
$
(42,958
)
 
$
63,640

 
$
247,734

Other comprehensive income (loss) before reclassifications
41,010

 
2,655

 
(16,676
)
 
26,989

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

 

Net other comprehensive income (loss) during period
41,010

 
2,655

 
(16,676
)
 
26,989

Balance September 30, 2012
$
268,062

 
$
(40,303
)
 
$
46,964

 
$
274,723