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ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 12 Months Ended
Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of accumulated other comprehensive income (loss) by component
The changes in accumulated other comprehensive loss by component are as follows for the years presented (in thousands):
 
Year Ended December 31, 2018
 
 
 
 
 
Pension Plans
 
 
 
Unrealized Gains (Losses) on Securities
 
Unrealized Gains (Losses) on Derivatives
 
Net Prior
Service
(Cost)
Credit
 
Net Gain (Loss)
 
Total
Beginning balance, net of tax
$
(16,295
)
 
$
6,399

 
$
(133
)
 
$
(26,269
)
 
$
(36,298
)
Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income before reclassifications
(21,956
)
 
2,351

 
—

 
(1,994
)
 
(21,599
)
Reclassified from accumulated other comprehensive income (1) 
3,190

 
(1,406
)
 
(7
)
 
2,189

 
3,966

Income tax benefit (expense)
3,941

 
(198
)
 
1

 
(41
)
 
3,703

Net current-period other comprehensive (loss) income, net of tax
(14,825
)
 
747

 
(6
)
 
154

 
(13,930
)
Ending balance, net of tax
$
(31,120
)
 
$
7,146

 
$
(139
)
 
$
(26,115
)
 
$
(50,228
)


 
Year Ended December 31, 2017
 
 
 
 
 
Pension Plans
 
 
 
Unrealized Gains (Losses) on Securities
 
Unrealized Gains (Losses) on Derivatives
 
Net Prior
Service
(Cost)
Credit
 
Net Gain (Loss)
 
Total
Beginning balance, net of tax
$
(23,708
)
 
$
4,595

 
$
(133
)
 
$
(19,247
)
 
$
(38,493
)
Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
15,217

 
276

 
8

 
(5,218
)
 
10,283

Reclassified from accumulated other comprehensive income
630

 
754

 
(8
)
 
1,613

 
2,989

Income tax (expense) benefit
(5,546
)
 
(360
)
 
—

 
532

 
(5,374
)
Net current-period other comprehensive income (loss), net of tax
10,301

 
670

 
—

 
(3,073
)
 
7,898

Reclassification of certain deferred tax effects (2)
(2,888
)
 
1,134

 
—

 
(3,949
)
 
(5,703
)
Ending balance, net of tax
$
(16,295
)
 
$
6,399

 
$
(133
)
 
$
(26,269
)
 
$
(36,298
)

(1)
As discussed in “Note 1 – Summary of Significant Accounting and Reporting Policies,” the Company adopted ASU 2016-01 on January 1, 2018. This amount includes a reclassification for the cumulative adjustment to retained earnings of $107,000 ($85,000, net of tax).
(2)
Amounts reclassified to retained earnings due to early adoption of ASU 2018-02. See “Note 1 – Summary of Significant Accounting and Reporting Policies” for further information.
 
 
Year Ended December 31, 2016
 
 
 
 
 
Pension Plans
 
 
 
Unrealized Gains (Losses) on Securities
 
Unrealized Gains (Losses) on Derivatives
 
Net Prior
Service
(Cost)
Credit
 
Net Gain (Loss)
 
Total
Beginning balance, net of tax
$
(239
)
 
$
—

 
$
(44
)
 
$
(18,400
)
 
$
(18,683
)
Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income before reclassifications
(33,699
)
 
5,255

 
(129
)
 
(3,132
)
 
(31,705
)
Reclassified from accumulated other comprehensive income
(2,407
)
 
1,815

 
(8
)
 
1,828

 
1,228

Income tax benefit (expense)
12,637

 
(2,475
)
 
48

 
457

 
10,667

Net current-period other comprehensive (loss) income, net of tax
(23,469
)
 
4,595

 
(89
)
 
(847
)
 
(19,810
)
Ending balance, net of tax
$
(23,708
)
 
$
4,595

 
$
(133
)
 
$
(19,247
)
 
$
(38,493
)
Reclassification out of Accumulated Other Comprehensive Income
The reclassifications out of accumulated other comprehensive (loss) income into net income are presented below (in thousands):
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Unrealized losses on securities transferred:
 
 
 
 
 
 
Amortization of unrealized losses (1)
 
$
(1,244
)
 
$
(1,255
)
 
$
(429
)
Tax benefit
 
261

 
439

 
150

Net of tax
 
$
(983
)
 
$
(816
)
 
$
(279
)
 
 
 
 
 
 
 
Unrealized gains and losses on available for sale securities:
 
 
 
 
 
 
Realized net (loss) gain on sale of securities (2)
 
$
(1,839
)
 
$
625

 
$
2,836

Tax benefit (expense)
 
386

 
(219
)
 
(993
)
Net of tax
 
$
(1,453
)
 
$
406

 
$
1,843

 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
Realized net gain (loss) on interest rate swap derivatives (3)
 
$
1,319

 
$
(828
)
 
$
(1,815
)
Tax (expense) benefit
 
(277
)
 
290

 
635

Net of tax
 
$
1,042

 
$
(538
)
 
$
(1,180
)
 
 
 
 
 
 
 
Amortization of unrealized gains on terminated interest rate swap derivatives (3)
 
$
87

 
$
74

 
$
—

Tax expense
 
(18
)
 
(26
)
 
—

Net of tax
 
$
69

 
$
48

 
$
—

 
 
 
 
 
 
 
Amortization of pension plan:
 
 
 
 
 
 
Net actuarial loss (4)
 
$
(2,189
)
 
$
(1,613
)
 
$
(1,828
)
Prior service credit (4)
 
7

 
8

 
8

Total before tax
 
(2,182
)
 
(1,605
)
 
(1,820
)
Tax benefit
 
459

 
562

 
637

Net of tax
 
$
(1,723
)
 
$
(1,043
)
 
$
(1,183
)
Total reclassifications for the period, net of tax
 
$
(3,048
)
 
$
(1,943
)
 
$
(799
)

(1)    Included in interest income on the consolidated statements of income.
(2)    Listed as net (loss) gain on sale of securities available for sale on the consolidated statements of income.
(3)    Included in interest expense for FHLB borrowings on the consolidated statements of income.
(4)
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (income) presented in “Note 11 - Employee Benefits.”