Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2017

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, 2017 and 2016:



(dollars in thousands)	Before Tax			Tax Effect			Net of Tax
Three Months Ended June 30, 2017
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	4,642		$	1,833		$	2,809
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	491			194			297
Net Unrealized Gains (Losses) on Investment Securities	5,133			2,027			3,106
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)	322			127			195
Amortization of Prior Service Credit	(80		)	(32		)	(48		)
Defined Benefit Plans, Net	242			95			147
Other Comprehensive Income (Loss)	$	5,375		$	2,122		$	3,253

Three Months Ended June 30, 2016
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	8,279		$	3,268		$	5,011
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	242			96			146
Net Unrealized Gains (Losses) on Investment Securities	8,521			3,364			5,157
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)	312			123			189
Amortization of Prior Service Credit	(80		)	(32		)	(48		)
Defined Benefit Plans, Net	232			91			141
Other Comprehensive Income (Loss)	$	8,753		$	3,455		$	5,298

Six Months Ended June 30, 2017
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	12,222		$	4,824		$	7,398
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	995			393			602
Net Unrealized Gains (Losses) on Investment Securities	13,217			5,217			8,000
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)	645			255			390
Amortization of Prior Service Credit	(161		)	(64		)	(97		)
Defined Benefit Plans, Net	484			191			293
Other Comprehensive Income (Loss)	$	13,701		$	5,408		$	8,293

Six Months Ended June 30, 2016
Net Unrealized Gains (Losses) on Investment Securities:
Net Unrealized Gains (Losses) Arising During the Period	$	22,223		$	8,773		$	13,450
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	663			262			401
Net Unrealized Gains (Losses) on Investment Securities	22,886			9,035			13,851
Defined Benefit Plans:
Amortization of Net Actuarial Losses (Gains)	626			247			379
Amortization of Prior Service Credit	(161		)	(64		)	(97		)
Defined Benefit Plans, Net	465			183			282
Other Comprehensive Income (Loss)	$	23,351		$	9,218		$	14,133


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, 2017 and 2016:



(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, 2017
Balance at Beginning of Period	$	5,859	$	(5,979	)	$	(28,746	)	$	(28,866	)
Other Comprehensive Income (Loss) Before Reclassifications	2,809		—			—			2,809
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		297			147			444
Total Other Comprehensive Income (Loss)	2,809		297			147			3,253
Balance at End of Period	$	8,668	$	(5,682	)	$	(28,599	)	$	(25,613	)

Three Months Ended June 30, 2016
Balance at Beginning of Period	$	20,998	$	(7,000	)	$	(28,720	)	$	(14,722	)
Other Comprehensive Income (Loss) Before Reclassifications	5,011		—			—			5,011
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		146			141			287
Total Other Comprehensive Income (Loss)	5,011		146			141			5,298
Balance at End of Period	$	26,009	$	(6,854	)	$	(28,579	)	$	(9,424	)

Six Months Ended June 30, 2017
Balance at Beginning of Period	$	1,270	$	(6,284	)	$	(28,892	)	$	(33,906	)
Other Comprehensive Income (Loss) Before Reclassifications	7,398		—			—			7,398
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		602			293			895
Total Other Comprehensive Income (Loss)	7,398		602			293			8,293
Balance at End of Period	$	8,668	$	(5,682	)	$	(28,599	)	$	(25,613	)

Six Months Ended June 30, 2016
Balance at Beginning of Period	$	12,559	$	(7,255	)	$	(28,861	)	$	(23,557	)
Other Comprehensive Income (Loss) Before Reclassifications	13,450		—			—			13,450
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	—		401			282			683
Total Other Comprehensive Income (Loss)	13,450		401			282			14,133
Balance at End of Period	$	26,009	$	(6,854	)	$	(28,579	)	$	(9,424	)

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, 2017 and 2016:



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)	2017			2016
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(491	)	$	(242	)	Interest Income
	194			96			Provision for Income Tax
	(297		)	(146		)	Net of Tax

Amortization of Defined Benefit Plan Items
Prior Service Credit ²	80			80
Net Actuarial Losses ²	(322		)	(312		)
	(242		)	(232		)	Total Before Tax
	95			91			Provision for Income Tax
	(147		)	(141		)	Net of Tax

Total Reclassifications for the Period	$	(444	)	$	(287	)	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)	2017			2016
Amortization of Unrealized Holding Gains (Losses) on Investment Securities Held-to-Maturity	$	(995	)	$	(663	)	Interest Income
	393			262			Provision for Income Tax
	(602		)	(401		)	Net of Tax

Amortization of Defined Benefit Plan Items
Prior Service Credit ²	161			161
Net Actuarial Losses ²	(645		)	(626		)
	(484		)	(465		)	Total Before Tax
	191			183			Provision for Income Tax
	(293		)	(282		)	Net of Tax

Total Reclassifications for the Period	$	(895	)	$	(683	)	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 Salaries and Benefits on the consolidated statements of income (see Note 10 Pension Plans and Postretirement Benefit Plan for additional details).