Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Other Comprehensive Income (Loss)

Note 14 - 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 June 30, 2013									Three Months Ended June 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	$	(74,025	)	$	(25,909	)	$	(48,116	)	$	20,968		$	7,340		$	13,628
Change in net unrealized gain on securities transferred to held to maturity		(9,745	)		(3,411	)		(6,334	)		—			—			—
Reclassification adjustment for net (gains) losses included in net income		(6	)		(2	)		(4	)		(370	)		(130	)		(240	)
Total securities available for sale and transferred securities		(83,776	)		(29,322	)		(54,454	)		20,598			7,210			13,388
Defined-benefit post-retirement benefit plans:
Change in the net actuarial gain/loss		1,639			574			1,065			1,428			500			928
Derivatives:
Change in the accumulated gain/loss on effective cash flow hedge derivatives		(33	)		(12	)		(21	)		(64	)		(23	)		(41	)
Reclassification adjustments for (gains) losses included in net income:
Interest rate swaps on variable-rate loans		(9,345	)		(3,270	)		(6,075	)		(9,345	)		(3,270	)		(6,075	)
Interest rate swap on junior subordinated deferrable interest debentures		1,103			386			717			1,044			365			679
Total derivatives		(8,275	)		(2,896	)		(5,379	)		(8,365	)		(2,928	)		(5,437	)
Total other comprehensive income (loss)	$	(90,412	)	$	(31,644	)	$	(58,768	)	$	13,661		$	4,782		$	8,879
	Six Months Ended June 30, 2013									Six Months Ended June 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	$	(95,369	)	$	(33,379	)	$	(61,990	)	$	22,850		$	7,998		$	14,852
Change in net unrealized gain on securities transferred to held to maturity		(18,204	)		(6,372	)		(11,832	)		—			—			—
Reclassification adjustment for net (gains) losses included in net income		(11	)		(4	)		(7	)		121			42			79
Total securities available for sale and transferred securities		(113,584	)		(39,755	)		(73,829	)		22,971			8,040			14,931
Defined-benefit post-retirement benefit plans:
Change in the net actuarial gain/loss		3,279			1,148			2,131			2,657			930			1,727
Derivatives:
Change in the accumulated gain/loss on effective cash flow hedge derivatives		(33	)		(12	)		(21	)		(491	)		(173	)		(318	)
Reclassification adjustments for (gains) losses included in net income:
Interest rate swaps on variable-rate loans		(18,690	)		(6,541	)		(12,149	)		(18,690	)		(6,541	)		(12,149	)
Interest rate swap on junior subordinated deferrable interest debentures		2,188			766			1,422			2,077			727			1,350
Total derivatives		(16,535	)		(5,787	)		(10,748	)		(17,104	)		(5,987	)		(11,117	)
Total other comprehensive income (loss)	$	(126,840	)	$	(44,394	)	$	(82,446	)	$	8,524		$	2,983		$	5,541

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		(73,822	)		2,131			(21	)		(71,712	)
Amounts reclassified from accumulated other comprehensive income (loss)		(7	)		—			(10,727	)		(10,734	)
Net other comprehensive income (loss) during period		(73,829	)		2,131			(10,748	)		(82,446	)
Balance June 30, 2013	$	171,710		$	(46,940	)	$	30,832		$	155,602
Balance January 1, 2012	$	227,052		$	(42,958	)	$	63,640		$	247,734
Other comprehensive income (loss) before reclassifications		14,852			1,727			(318	)		16,261
Amounts reclassified from accumulated other comprehensive income (loss)		79			—			(10,799	)		(10,720	)
Net other comprehensive income (loss) during period		14,931			1,727			(11,117	)		5,541
Balance June 30, 2012	$	241,983		$	(41,231	)	$	52,523		$	253,275