Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2020

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, 2020
					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	$	100,790	$	(20,904)	$	(20)	$	(36,855)	$	43,011
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications	1,601		(197)		—		—		1,404
Reclassification adjustments included in net income	316		1,587		(2)		821		2,722
Income tax expense	(403)		(292)		—		(171)		(866)
Net current-period other comprehensive income (loss), net of tax	1,514		1,098		(2)		650		3,260
Ending balance, net of tax	$	102,304	$	(19,806)	$	(22)	$	(36,205)	$	46,271
	Nine Months Ended September 30, 2020
					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	$	38,038	$	(1,672)	$	(145)	$	(31,985)	$	4,236
Other comprehensive income (loss):
Other comprehensive income (loss) before reclassifications	88,900		(25,236)		163		(7,558)		56,269
Reclassification adjustments included in net income	(7,551)		2,283		(6)		2,213		(3,061)
Income tax (expense) benefit	(17,083)		4,819		(34)		1,125		(11,173)
Net current-period other comprehensive income (loss), net of tax	64,266		(18,134)		123		(4,220)		42,035
Ending balance, net of tax	$	102,304	$	(19,806)	$	(22)	$	(36,205)	$	46,271

	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	(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

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,
	2020		2019		2020		2019
Unrealized gains and losses on securities transferred:
Amortization of unrealized gains and losses (1)	$	(394)	$	(112)	$	(730)	$	(683)
Tax benefit	82		23		153		143
Net of tax	(312)		(89)		(577)		(540)
Unrealized gains and losses on available for sale securities:
Realized net gain on sale of securities (2)	78		42		8,281		714
Tax expense	(16)		(9)		(1,739)		(150)
Net of tax	62		33		6,542		564
Derivatives:
Realized net (loss) gain on interest rate swap derivatives (3)	(1,593)		477		(2,303)		1,744
Tax benefit (expense)	335		(100)		484		(366)
Net of tax	(1,258)		377		(1,819)		1,378
Amortization of unrealized gains on terminated interest rate swap derivatives (3)	6		22		20		65
Tax expense	(1)		(5)		(4)		(14)
Net of tax	5		17		16		51
Amortization of pension plan:
Net actuarial loss (4)	(821)		(596)		(2,213)		(1,789)
Prior service credit (4)	2		1		6		5
Total before tax	(819)		(595)		(2,207)		(1,784)
Tax benefit	172		125		463		375
Net of tax	(647)		(470)		(1,744)		(1,409)
Total reclassifications for the period, net of tax	$	(2,150)	$	(132)	$	2,418	$	44

(1)    Included in interest income on the consolidated statements of income.

(2)    Listed as net gain 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 AOCI components are included in the computation of net periodic pension cost (income) presented in “Note 8 – Employee Benefit Plans.”