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Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Components of other comprehensive income

The following table presents the components of other comprehensive income (loss) for the three and six months ended June 30, 2020, and June 30, 2019:
(dollars in thousands)
Before Tax

 
Tax Effect

 
Net of Tax

Three Months Ended June 30, 2020
 

 
 

 
 

Net Unrealized Gains (Losses) on Investment Securities:
 

 
 

 
 

Net Unrealized Gains (Losses) Arising During the Period
$
10,393

 
$
2,752

 
$
7,641

Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
 

 
 

 
 

  Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities 1
121

 
32

 
89

Net Unrealized Gains (Losses) on Investment Securities
10,514

 
2,784

 
7,730

Defined Benefit Plans:
 

 
 

 
 

Amortization of Net Actuarial Losses (Gains)
571

 
151

 
420

Amortization of Prior Service Credit
(62
)
 
(16
)
 
(46
)
Defined Benefit Plans, Net
509

 
135

 
374

Other Comprehensive Income (Loss)
$
11,023

 
$
2,919

 
$
8,104

 
 
 
 
 
 
Three Months Ended June 30, 2019
 

 
 

 
 

Net Unrealized Gains (Losses) on Investment Securities:
 

 
 

 
 

Net Unrealized Gains (Losses) Arising During the Period
$
21,812

 
$
5,782

 
$
16,030

Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
 
 
 
 
 
  (Gain) Loss on Sale
(127
)
 
(34
)
 
(93
)
  Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities 1
368

 
96

 
272

Net Unrealized Gains (Losses) on Investment Securities
22,053

 
5,844

 
16,209

Defined Benefit Plans:
 

 
 

 
 

Amortization of Net Actuarial Losses (Gains)
406

 
108

 
298

Amortization of Prior Service Credit
(72
)
 
(19
)
 
(53
)
Defined Benefit Plans, Net
334

 
89

 
245

Other Comprehensive Income (Loss)
$
22,387

 
$
5,933

 
$
16,454

 
 
 
 
 
 
Six Months Ended June 30, 2020
 

 
 

 
 

Net Unrealized Gains (Losses) on Investment Securities:
 

 
 

 
 

Net Unrealized Gains (Losses) Arising During the Period
$
66,949

 
$
17,741

 
$
49,208

Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
 
 
 
 
 
  (Gain) Loss on Sale
(77
)
 
(21
)
 
(56
)
  Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities 1
186

 
49

 
137

Net Unrealized Gains (Losses) on Investment Securities
67,058

 
17,769

 
49,289

Defined Benefit Plans:
 

 
 

 
 

Amortization of Net Actuarial Losses (Gains)
1,141

 
303

 
838

Amortization of Prior Service Credit
(123
)
 
(33
)
 
(90
)
Defined Benefit Plans, Net
1,018

 
270

 
748

Other Comprehensive Income (Loss)
$
68,076

 
$
18,039

 
$
50,037

 
 
 
 
 
 
Six Months Ended June 30, 2019
 

 
 

 
 

Net Unrealized Gains (Losses) on Investment Securities:
 

 
 

 
 

Net Unrealized Gains (Losses) Arising During the Period
$
30,764

 
$
8,153

 
$
22,611

Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) that (Increase) Decrease Net Income:
 
 
 
 
 
  (Gain) Loss on Sale
(63
)
 
(17
)
 
(46
)
  Amortization of Unrealized Holding (Gains) Losses on Held-to-Maturity Securities 1
764

 
201

 
563

Net Unrealized Gains (Losses) on Investment Securities
31,465

 
8,337

 
23,128

Defined Benefit Plans:
 

 
 

 
 

Amortization of Net Actuarial Losses (Gains)
812

 
215

 
597

Amortization of Prior Service Credit
(144
)
 
(38
)
 
(106
)
Defined Benefit Plans, Net
668

 
177

 
491

Other Comprehensive Income (Loss)
$
32,133

 
$
8,514

 
$
23,619


1 
The amount relates to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available-for-sale investment securities to the held-to-maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.
Schedule of accumulated other comprehensive income (loss)
The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three and six months ended June 30, 2020, and June 30, 2019:
(dollars in thousands)
 
Investment Securities-Available-for-Sale

 
Investment Securities-Held-to-Maturity

 
Defined Benefit Plans

 
Accumulated Other Comprehensive Income (Loss)

Three Months Ended June 30, 2020
 
 
 
 
 
 
 
 
Balance at Beginning of Period
 
$
49,870

 
$
(667
)
 
$
(38,382
)
 
$
10,821

Other Comprehensive Income (Loss) Before Reclassifications
 
7,641

 
—

 
—

 
7,641

Amounts Reclassified from Accumulated Other
        Comprehensive Income (Loss)
 
—

 
89

 
374

 
463

Total Other Comprehensive Income (Loss)
 
7,641

 
89

 
374

 
8,104

Balance at End of Period
 
$
57,511

 
$
(578
)
 
$
(38,008
)
 
$
18,925

 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2019
 
 
 
 
 
 
 
 
Balance at Beginning of Period
 
$
(3,819
)
 
$
(4,295
)
 
$
(35,764
)
 
$
(43,878
)
Other Comprehensive Income (Loss) Before Reclassifications
 
16,030

 
—

 
—

 
16,030

Transfers
 
(3,259
)
 
3,259

 
—

 
—

Amounts Reclassified from Accumulated Other
        Comprehensive Income (Loss)
 
(93
)
 
272

 
245

 
424

Total Other Comprehensive Income (Loss)
 
12,678

 
3,531

 
245

 
16,454

Balance at End of Period
 
$
8,859

 
$
(764
)
 
$
(35,519
)
 
$
(27,424
)
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2020
 
 
 
 
 
 
 
 
Balance at Beginning of Period
 
$
8,359

 
$
(715
)
 
$
(38,756
)
 
$
(31,112
)
Other Comprehensive Income (Loss) Before Reclassifications
 
49,208

 
—

 
—

 
49,208

Amounts Reclassified from Accumulated Other
        Comprehensive Income (Loss)
 
(56
)
 
137

 
748

 
829

Total Other Comprehensive Income (Loss)
 
49,152

 
137

 
748

 
50,037

Balance at End of Period
 
$
57,511

 
$
(578
)
 
$
(38,008
)
 
$
18,925

 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2019
 
 
 
 
 
 
 
 
Balance at Beginning of Period
 
$
(10,447
)
 
$
(4,586
)
 
$
(36,010
)
 
$
(51,043
)
Other Comprehensive Income (Loss) Before Reclassifications
 
22,611

 
—

 
—

 
22,611

Transfers
 
(3,259
)
 
3,259

 
—

 
—

Amounts Reclassified from Accumulated Other
        Comprehensive Income (Loss)
 
(46
)
 
563

 
491

 
1,008

Total Other Comprehensive Income (Loss)
 
19,306

 
3,822

 
491

 
23,619

Balance at End of Period
 
$
8,859

 
$
(764
)
 
$
(35,519
)
 
$
(27,424
)
Reclassification out of accumulated other comprehensive income
The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2020, and June 30, 2019:
Details about Accumulated Other
Comprehensive Income (Loss) Components
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)1
 
Affected Line Item in the Statement Where Net Income Is Presented
 
Three Months Ended June 30,
 
(dollars in thousands)
2020

2019

 
Amortization of Unrealized Holding Gains (Losses) on
     Investment Securities Held-to-Maturity
$
(121
)
$
(368
)
Interest Income
 
32

96

Provision for Income Tax
 
(89
)
(272
)
Net of Tax
Sale of Investment Securities Available-for-Sale
—

127

Investment Securities Gains (Losses), Net
 
—

(34
)
Provision for Income Tax
 
—

93

Net of tax
 
 
 
 
Amortization of Defined Benefit Plan Items
 
 
 
Prior Service Credit 2
62

72

 
Net Actuarial Losses 2
(571
)
(406
)
 
 
(509
)
(334
)
Total Before Tax
 
135

89

Provision for Income Tax
 
(374
)
(245
)
Net of Tax
 
 
 
 
Total Reclassifications for the Period
$
(463
)
$
(424
)
Net of Tax
 
 
 
 
Details about Accumulated Other
Comprehensive Income (Loss) Components
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)1
 
Affected Line Item in the Statement Where Net Income Is Presented
 
Six Months Ended June 30,
 
(dollars in thousands)
2020

2019

 
Amortization of Unrealized Holding Gains (Losses) on
     Investment Securities Held-to-Maturity
$
(186
)
$
(764
)
Interest Income
 
49

201

Provision for Income Tax
 
(137
)
(563
)
Net of Tax
Sale of Investment Securities Available-for-Sale
77

63

Investment Securities Gains (Losses), Net

 
(21
)
(17
)
Provision for Income Tax
 
56

46

Net of tax
 
 
 
 
Amortization of Defined Benefit Plan Items
 
 
 
Prior Service Credit 2
123

144

 
Net Actuarial Losses 2
(1,141
)
(812
)
 
 
(1,018
)
(668
)
Total Before Tax
 
270

177

Provision for Income Tax
 
(748
)
(491
)
Net of Tax
 
 
 
 
Total Reclassifications for the Period
$
(829
)
$
(1,008
)
Net of Tax
1 
Amounts in parentheses indicate reductions to net income.
2 
These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost and are included in Other Noninterest Expense on the consolidated statements of income (see Note 11 Pension Plans and Postretirement Benefit Plan for additional details).