ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 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 for the years presented (in thousands):

	Year Ended December 31, 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	105,845		(23,462)		378		(593)		82,168
Reclassification adjustments included in net income	(7,060)		3,945		(7)		3,035		(87)
Income tax (expense) benefit	(20,745)		4,098		(77)		(513)		(17,237)
Net current-period other comprehensive income (loss), net of tax	78,040		(15,419)		294		1,929		64,844
Ending balance, net of tax	$	116,078	$	(17,091)	$	149	$	(30,056)	$	69,080

	Year Ended December 31, 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	87,481		(9,118)		—		(9,816)		68,547
Reclassification adjustments included in net income	60		(2,043)		(8)		2,386		395
Income tax (expense) benefit	(18,383)		2,343		2		1,560		(14,478)
Net current-period other comprehensive income (loss), net of tax	69,158		(8,818)		(6)		(5,870)		54,464
Ending balance, net of tax	$	38,038	$	(1,672)	$	(145)	$	(31,985)	$	4,236

	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)
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	(21,956)		2,351		—		(1,994)		(21,599)
Reclassification adjustments included in net income	3,083		(1,406)		(7)		2,189		3,859
Income tax benefit (expense)	3,963		(198)		1		(41)		3,725
Net current-period other comprehensive (loss) income, net of tax	(14,910)		747		(6)		154		(14,015)
Ending balance, net of tax	$	(31,120)	$	7,146	$	(139)	$	(26,115)	$	(50,228)

(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).

Reclassification 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):

	Years Ended December 31,
	2020		2019		2018
Unrealized gains and losses on securities transferred:
Amortization of unrealized gains and losses (1)	$	(1,197)	$	(816)	$	(1,244)
Tax benefit	251		171		261
Net of tax	$	(946)	$	(645)	$	(983)
Unrealized gains and losses on AFS securities:
Realized net gain (loss) on sale of securities (2)	$	8,257	$	756	$	(1,839)
Tax (expense) benefit	(1,734)		(159)		386
Net of tax	$	6,523	$	597	$	(1,453)
Derivatives:
Realized net (loss) gain on interest rate swap derivatives (3)	$	(3,970)	$	1,956	$	1,319
Tax benefit (expense)	834		(411)		(277)
Net of tax	$	(3,136)	$	1,545	$	1,042
Amortization of unrealized gains on terminated interest rate swap derivatives (3)	$	25	$	87	$	87
Tax expense	(5)		(18)		(18)
Net of tax	$	20	$	69	$	69
Amortization of pension plan:
Net actuarial loss (4)	$	(3,035)	$	(2,386)	$	(2,189)
Prior service credit (4)	7		8		7
Total before tax	(3,028)		(2,378)		(2,182)
Tax benefit	636		499		459
Net of tax	$	(2,392)	$	(1,879)	$	(1,723)
Total reclassifications for the period, net of tax	$	69	$	(313)	$	(3,048)

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

(2)    Listed as net gain (loss) on sale of securities AFS on the consolidated statements of income.

(3)    Included in interest expense for 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 10 – Employee Benefits.”