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Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of accumulated other comprehensive income (loss) by component

The changes in accumulated other comprehensive income (loss) by component are as follows (in thousands):

 
Three Months Ended September 30, 2019
 
 
 
 
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
$
31,070

 
$
(820
)
 
$
(142
)
 
$
(25,173
)
 
$
4,935

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
17,334

 
(2,619
)
 
—

 
—

 
14,715

Reclassification adjustments included in net income
70

 
(499
)
 
(1
)
 
596

 
166

Income tax (expense) benefit
(3,655
)
 
655

 
—

 
(125
)
 
(3,125
)
Net current-period other comprehensive income (loss), net of tax
13,749

 
(2,463
)
 
(1
)
 
471

 
11,756

Ending balance, net of tax
$
44,819

 
$
(3,283
)
 
$
(143
)
 
$
(24,702
)
 
$
16,691

 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2019
 

 
 
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
$
(31,120
)
 
$
7,146

 
$
(139
)
 
$
(26,115
)
 
$
(50,228
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
96,156

 
(11,392
)
 
—

 
—

 
84,764

Reclassification adjustments included in net income
(31
)
 
(1,809
)
 
(5
)
 
1,789

 
(56
)
Income tax (expense) benefit
(20,186
)
 
2,772

 
1

 
(376
)
 
(17,789
)
Net current-period other comprehensive income (loss), net of tax
75,939

 
(10,429
)
 
(4
)
 
1,413

 
66,919

Ending balance, net of tax
$
44,819

 
$
(3,283
)
 
$
(143
)
 
$
(24,702
)
 
$
16,691



 
Three Months Ended September 30, 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
$
(42,536
)
 
$
10,753

 
$
(135
)
 
$
(25,404
)
 
$
(57,322
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income before reclassifications
(16,885
)
 
1,894

 
—

 
—

 
(14,991
)
Reclassification adjustments included in net income
80

 
(406
)
 
(1
)
 
547

 
220

Income tax benefit (expense)
3,529

 
(312
)
 
—

 
(115
)
 
3,102

Net current-period other comprehensive (loss) income, net of tax
(13,276
)
 
1,176

 
(1
)
 
432

 
(11,669
)
Ending balance, net of tax
$
(55,812
)
 
$
11,929

 
$
(136
)
 
$
(24,972
)
 
$
(68,991
)
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 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
)
Cumulative effect of ASU 2016-01 (1)
85

 
—

 
—

 
—

 
85

Adjusted beginning balance, net of tax
(16,210
)
 
6,399

 
(133
)
 
(26,269
)
 
(36,213
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income before reclassifications
(52,757
)
 
7,864

 
—

 
—

 
(44,893
)
Reclassification adjustments included in net income
2,629

 
(864
)
 
(5
)
 
1,642

 
3,402

Income tax benefit (expense)
10,526

 
(1,470
)
 
2

 
(345
)
 
8,713

Net current-period other comprehensive (loss) income, net of tax
(39,602
)
 
5,530

 
(3
)
 
1,297

 
(32,778
)
Ending balance, net of tax
$
(55,812
)
 
$
11,929

 
$
(136
)
 
$
(24,972
)
 
$
(68,991
)


(1)
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).
Reclassifications out of accumulated other comprehensive income
The reclassification adjustments out of accumulated other comprehensive income (loss) included in net income are presented below (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Unrealized gains and losses on securities transferred:
 
 
 
 
 
 
 
(Amortization) accretion of unrealized gains and losses (1)
$
(112
)
 
$
661

 
$
(683
)
 
$
(729
)
Tax benefit (expense)
23

 
(139
)
 
143

 
153

Net of tax
(89
)
 
522

 
(540
)
 
(576
)
 
 
 
 
 
 
 
 
Unrealized gains and losses on available for sale securities:
 
 
 
 
 
 
 
Realized net gain (loss) on sale of securities (2)
42

 
(741
)
 
714

 
(1,900
)
Tax (expense) benefit
(9
)
 
156

 
(150
)
 
399

Net of tax
33

 
(585
)
 
564

 
(1,501
)
 
 
 
 
 
 
 
 
Derivatives:
 
 
 
 
 
 
 
Realized net gain on interest rate swap derivatives (3)
477

 
384

 
1,744

 
799

Tax expense
(100
)
 
(81
)
 
(366
)
 
(168
)
Net of tax
377

 
303

 
1,378

 
631

 
 
 
 
 
 
 
 
Amortization of unrealized gains on terminated interest rate swap derivatives (3)
22

 
22

 
65

 
65

Tax expense
(5
)
 
(5
)
 
(14
)
 
(14
)
Net of tax
17

 
17

 
51

 
51

 
 
 
 
 
 
 
 
Amortization of pension plan:
 
 
 
 
 
 
 
Net actuarial loss (4)
(596
)
 
(547
)
 
(1,789
)
 
(1,642
)
Prior service credit (4)
1

 
1

 
5

 
5

Total before tax
(595
)
 
(546
)
 
(1,784
)
 
(1,637
)
Tax benefit
125

 
115

 
375

 
343

Net of tax
(470
)
 
(431
)
 
(1,409
)
 
(1,294
)
Total reclassifications for the period, net of tax
$
(132
)
 
$
(174
)
 
$
44

 
$
(2,689
)
(1)    Included in interest income on the consolidated statements of income.
(2)    Listed as net gain (loss) on sale of securities available for sale on the consolidated statements of income.
(3)
Included in interest expense for Federal Home Loan Bank of Dallas (“FHLB”) borrowings on the consolidated statements of income.
(4)
These accumulated other comprehensive income (“AOCI”) components are included in the computation of net periodic pension cost (income) presented in “Note 9 - Employee Benefit Plans.”