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Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Schedule of Comprehensive Income
The following table presents the tax effects allocated to each component of other comprehensive income (loss) for the years ended December 31, 2014, 2013, and 2012. Components of other comprehensive income (loss) include changes in net unrealized gains (losses) on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to certain securities during the period); unrealized gains (losses) on derivatives used in cash flow hedging relationships; and the pension benefit adjustment for unfunded portion of various employee, officer and director pension plans. 
 
 
2014
 
2013
 
2012
 
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
 
(in thousands)
Unrealized gains (losses) on available for sale (AFS) securities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net gains (losses) arising during the period
 
$
33,329

 
$
(13,931
)
 
$
19,398

 
$
(22,679
)
 
$
9,440

 
$
(13,239
)
 
$
9,993

 
$
(4,311
)
 
$
5,682

Less reclassification adjustment for net gains included in net income
 
(745
)
 
312

 
(433
)
 
(14,678
)
 
6,156

 
(8,522
)
 
(2,587
)
 
1,042

 
(1,545
)
Net change
 
32,584

 
(13,619
)
 
18,965

 
(37,357
)
 
15,596

 
(21,761
)
 
7,406

 
(3,269
)
 
4,137

Non-credit impairment losses on securities available for sale and held to maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net change in non-credit impairment losses on securities
 
2,299

 
(965
)
 
1,334

 
6,266

 
(2,629
)
 
3,637

 
15,032

 
(5,090
)
 
9,942

Less reclassification adjustment for credit impairment losses included in net income
 
(661
)
 
278

 
(383
)
 
(461
)
 
193

 
(268
)
 
4,220

 
(1,771
)
 
2,449

Net change
 
1,638

 
(687
)
 
951

 
5,805

 
(2,436
)
 
3,369

 
19,252

 
(6,861
)
 
12,391

Unrealized gains and losses on derivatives (cash flow hedges)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (losses) gains arising during the period
 
(20,910
)
 
8,763

 
(12,147
)
 
4,255

 
(1,855
)
 
2,400

 
(5,773
)
 
2,422

 
(3,351
)
Less reclassification adjustment for net losses included in net income
 
6,663

 
(2,777
)
 
3,886

 
6,898

 
(2,893
)
 
4,005

 
6,478

 
(2,718
)
 
3,760

Net change
 
(14,247
)
 
5,986

 
(8,261
)
 
11,153

 
(4,748
)
 
6,405

 
705

 
(296
)
 
409

Defined benefit pension plan
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (losses) gains arising during the period
 
(27,902
)
 
11,695

 
(16,207
)
 
37,204

 
(15,627
)
 
21,577

 
(11,747
)
 
4,908

 
(6,839
)
Amortization of prior service cost
 
305

 
(128
)
 
177

 
2,440

 
(986
)
 
1,454

 
105

 
(67
)
 
38

Amortization of net loss
 
226

 
(94
)
 
132

 
1,970

 
(825
)
 
1,145

 
2,401

 
(1,005
)
 
1,396

Recognition of loss due to curtailment
 
—

 
—

 
—

 
750

 
(282
)
 
468

 
—

 
—

 
—

Net change
 
(27,371
)
 
11,473

 
(15,898
)
 
42,364

 
(17,720
)
 
24,644

 
(9,241
)
 
3,836

 
(5,405
)
Total other comprehensive income (loss)
 
$
(7,396
)
 
$
3,153

 
$
(4,243
)
 
$
21,965

 
$
(9,308
)
 
$
12,657

 
$
18,122

 
$
(6,590
)
 
$
11,532
Schedule of Changes in Accumulated Other Comprehensive Loss after Tax
The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the years ended December 31, 2014, 2013, and 2012: 
 
Components of Accumulated Other Comprehensive Loss
 
Total
Accumulated
Other
Comprehensive
Loss
 
Unrealized Gains
and Losses on AFS Securities
 
Non-credit
Impairment
Losses on
Securities
 
Unrealized Gains
and Losses on
Derivatives
 
Defined
Benefit
Pension
Plan
 
 
(in thousands)
Balance-December 31, 2011
$
(3,231
)
 
$
(16,566
)
 
$
(13,085
)
 
$
(29,559
)
 
$
(62,441
)
Other comprehensive income (loss) before reclassifications
5,682

 
9,942

 
(3,351
)
 
(6,839
)
 
5,434

Amounts reclassified from other comprehensive income (loss)
(1,545
)
 
2,449

 
3,760

 
1,434

 
6,098

Other comprehensive income (loss), net
4,137

 
12,391

 
409

 
(5,405
)
 
11,532

Balance-December 31, 2012
906

 
(4,175
)
 
(12,676
)
 
(34,964
)
 
(50,909
)
Other comprehensive income (loss) before reclassifications
(13,239
)
 
3,637

 
2,400

 
21,577

 
14,375

Amounts reclassified from other comprehensive income (loss)
(8,522
)
 
(268
)
 
4,005

 
3,067

 
(1,718
)
Other comprehensive income (loss), net
(21,761
)
 
3,369

 
6,405

 
24,644

 
12,657

Balance-December 31, 2013
(20,855
)
 
(806
)
 
(6,271
)
 
(10,320
)
 
(38,252
)
Other comprehensive income (loss) before reclassifications
19,398

 
1,334

 
(12,147
)
 
(16,207
)
 
(7,622
)
Amounts reclassified from other comprehensive income (loss)
(433
)
 
(383
)
 
3,886

 
309

 
3,379

Other comprehensive income (loss), net
18,965

 
951

 
(8,261
)
 
(15,898
)
 
(4,243
)
Balance-December 31, 2014
$
(1,890
)
 
$
145

 
$
(14,532
)
 
$
(26,218
)
 
$
(42,495
)
Schedule of Accumulated Other Comprehensive Loss
The following table presents amounts reclassified from each component of accumulated other comprehensive loss on a gross and net of tax basis for the years ended December 31, 2014 and 2013.
 
 
 
Amounts Reclassified from Accumulated Other
Comprehensive Loss
 
 
Components of Accumulated
Other Comprehensive Loss
 
2014
 
2013
 
Income Statement
Line Item
 
 
(in thousands)
 
 
Unrealized gains on AFS securities before tax
 
$
745

 
14,678

 
Gains on securities transactions, net
Tax effect
 
(312
)
 
(6,156
)
 
 
Total net of tax
 
433

 
8,522

 
 
Non-credit impairment losses on AFS securities before tax:
 
 
 
 
 
 
Accretion of credit impairment loss due to an increase in expected cash flows
 
661

 
461

 
Interest and dividends on investment securities (taxable)
Tax effect
 
(278
)
 
(193
)
 
 
Total net of tax
 
383

 
268

 
 
Unrealized losses on derivatives (cash flow hedges) before tax
 
(6,663
)
 
(6,898
)
 
Interest expense
Tax effect
 
2,777

 
2,893

 
 
Total net of tax
 
(3,886
)
 
(4,005
)
 
 
Defined benefit pension plan:
 
 
 
 
 
 
Amortization of prior service cost
 
(305
)
 
(2,440
)
 
*
Amortization of net actuarial loss
 
(226
)
 
(1,970
)
 
*
Recognition of loss due to curtailment
 
—

 
(750
)
 
 
Total before tax
 
(531
)
 
(5,160
)
 
 
Tax effect
 
222

 
2,093

 
 
Total net of tax
 
(309
)
 
(3,067
)
 
 
Total reclassifications, net of tax
 
$
(3,379
)
 
$
1,718

 
 
 
*
These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 12 for details.