Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2013

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 table below. 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.

	Before Tax			Tax Expense			Net of Tax
	Amount			(Benefit)			Amount
Three months ended March 31, 2013:
Securities available for sale and transferred securities:
Change in net unrealized gain/loss during the period	$	(21,344	)	$	(7,470	)	$	(13,874	)
Change in net unrealized gain on securities transferred to held to maturity		(8,459	)		(2,961	)		(5,498	)
Reclassification adjustment for net (gains) losses included in net income		(5	)		(2	)		(3	)
Total securities available for sale and transferred securities		(29,808	)		(10,433	)		(19,375	)
Defined-benefit post-retirement benefit plans:
Change in the net actuarial gain/loss		1,640			574			1,066
Derivatives:
Change in the accumulated gain/loss on effective cash flow hedge derivatives		—			—			—
Reclassification adjustments for (gains) losses included in net income:
Interest rate swaps on variable-rate loans		(9,345	)		(3,271	)		(6,074	)
Interest rate swap on junior subordinated deferrable interest debentures		1,085			380			705
Total derivatives		(8,260	)		(2,891	)		(5,369	)
Total other comprehensive income (loss)	$	(36,428	)	$	(12,750	)	$	(23,678	)
Three months ended March 31, 2012:
Securities available for sale:
Change in net unrealized gain/loss during the period	$	1,882		$	658		$	1,224
Reclassification adjustment for net (gains) losses included in net income		491			172			319
Total securities available for sale		2,373			830			1,543
Defined-benefit post-retirement benefit plans:
Change in the net actuarial gain/loss		1,229			430			799
Derivatives:
Change in the accumulated gain/loss on effective cash flow hedge derivatives		(427	)		(150	)		(277	)
Reclassification adjustments for (gains) losses included in net income:
Interest rate swaps on variable-rate loans		(9,345	)		(3,271	)		(6,074	)
Interest rate swap on junior subordinated deferrable interest debentures		1,033			362			671
Total derivatives		(8,739	)		(3,059	)		(5,680	)
Total other comprehensive income (loss)	$	(5,137	)	$	(1,799	)	$	(3,338	)

Schedule of Accumulated Other Comprehensive Income, Net of Tax

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

										Accumulated
	Securities			Defined						Other
	Available			Benefit						Comprehensive
	For Sale			Plans			Derivatives			Income
Balance January 1, 2013	$	245,539		$	(49,071	)	$	41,580		$	238,048
Other comprehensive income (loss) before reclassifications		(19,372	)		1,066			—			(18,306	)
Amounts reclassified from accumulated other comprehensive income (loss)		(3	)		—			(5,369	)		(5,372	)
Net other comprehensive income (loss) during period		(19,375	)		1,066			(5,369	)		(23,678	)
Balance March 31, 2013	$	226,164		$	(48,005	)	$	36,211		$	214,370
Balance January 1, 2012	$	227,052		$	(42,958	)	$	63,640		$	247,734
Other comprehensive income (loss) before reclassifications		1,224			799			(277	)		1,746
Amounts reclassified from accumulated other comprehensive income (loss)		319			—			(5,403	)		(5,084	)
Net other comprehensive income (loss) during period		1,543			799			(5,680	)		(3,338	)
Balance March 31, 2012	$	228,595		$	(42,159	)	$	57,960		$	244,396