Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2020

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. Reclassification adjustments related to defined-benefit post-retirement benefit plans are included in the computation of net periodic pension expense (see Note 12 – Defined Benefit Plans).


	Three Months Ended September 30, 2020						Three Months Ended September 30, 2019
	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	$	20,332	$	4,269	$	16,063	$	107,786	$	22,635	$	85,151
Change in net unrealized gain on securities transferred to held to maturity	(294)		(62)		(232)		(305)		(64)		(241)
Reclassification adjustment for net (gains) losses included in net income	—		—		—		(97)		(21)		(76)
Total securities available for sale and transferred securities	20,038		4,207		15,831		107,384		22,550		84,834
Defined-benefit post-retirement benefit plans:

Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	1,330		280		1,050		1,406		295		1,111
Total defined-benefit post-retirement benefit plans	1,330		280		1,050		1,406		295		1,111
Total other comprehensive income (loss)	$	21,368	$	4,487	$	16,881	$	108,790	$	22,845	$	85,945


	Nine Months Ended September 30, 2020						Nine Months Ended September 30, 2019
	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	$	406,959	$	85,462	$	321,497	$	464,072	$	97,455	$	366,617
Change in net unrealized gain on securities transferred to held to maturity	(979)		(206)		(773)		(957)		(201)		(756)
Reclassification adjustment for net (gains) losses included in net income	(108,989)		(22,888)		(86,101)		(266)		(56)		(210)
Total securities available for sale and transferred securities	296,991		62,368		234,623		462,849		97,198		365,651
Defined-benefit post-retirement benefit plans:

Reclassification adjustment for net amortization of actuarial gain/loss included in net income as a component of net periodic cost (benefit)	3,989		837		3,152		4,218		886		3,332
Total defined-benefit post-retirement benefit plans	3,989		837		3,152		4,218		886		3,332
Total other comprehensive income (loss)	$	300,980	$	63,205	$	237,775	$	467,067	$	98,084	$	368,983

Schedule of Accumulated Other Comprehensive Income (Loss)

Activity in accumulated other comprehensive income (loss), net of tax, was as follows:


	Securities Available For Sale		Defined Benefit Plans		Accumulated Other Comprehensive Income
Balance January 1, 2020	$	313,304	$	(45,934)	$	267,370
Other comprehensive income (loss) before reclassifications	320,724		—		320,724
Reclassification of amounts included in net income	(86,101)		3,152		(82,949)
Net other comprehensive income (loss) during period	234,623		3,152		237,775
Balance at September 30, 2020	$	547,927	$	(42,782)	$	505,145

Balance January 1, 2019	$	(16,103)	$	(47,497)	$	(63,600)
Other comprehensive income (loss) before reclassifications	365,861		—		365,861
Reclassification of amounts included in net income	(210)		3,332		3,122
Net other comprehensive income (loss) during period	365,651		3,332		368,983

Balance at September 30, 2019	$	349,548	$	(44,165)	$	305,383