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Accumulated Other Comprehensive Loss
 9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss

The following tables present the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three and nine months ended September 30, 2018: 
 
Components of Accumulated Other Comprehensive Loss
 
Total
Accumulated
Other
Comprehensive
Loss
 
Unrealized Gains
and Losses on
Available for Sale
(AFS) Securities
 
Non-credit
Impairment
Losses on
AFS Securities
 
Unrealized Gains
and (Losses) on
Derivatives
 
Defined
Benefit
Pension Plan
 
 
(in thousands)
Balance at June 30, 2018
$
(39,296
)
 
$
(440
)
 
$
(4,329
)
 
$
(25,059
)
 
$
(69,124
)
Other comprehensive (loss) income before reclassifications
(8,675
)
 
(8
)
 
221

 
—

 
(8,462
)
Amounts reclassified from other comprehensive (loss) income
52

 
5

 
472

 
113

 
642

Other comprehensive (loss) income, net
(8,623
)
 
(3
)
 
693

 
113

 
(7,820
)
Balance at September 30, 2018
$
(47,919
)
 
$
(443
)

$
(3,636
)

$
(24,946
)
 
$
(76,944
)



 
Components of Accumulated Other Comprehensive Loss
 
Total
Accumulated
Other
Comprehensive
Loss
 
Unrealized Gains
and Losses on
Available for Sale
(AFS) Securities
 
Non-credit
Impairment
Losses on
AFS Securities
 
Unrealized Gains
and (Losses) on
Derivatives
 
Defined
Benefit
Pension Plan
 
 
(in thousands)
Balance at December 31, 2017
$
(12,004
)
 
$
(380
)
 
$
(8,338
)
 
$
(25,283
)
 
$
(46,005
)
Reclassification due to the adoption of ASU No. 2016-01
(480
)
 
—

 
—

 
—

 
(480
)
Reclassification due to the adoption of ASU No. 2017-12
—

 
—

 
(61
)
 
—

 
(61
)
Balance at January 1, 2018
(12,484
)
 
(380
)
 
(8,399
)
 
(25,283
)
 
(46,546
)
Other comprehensive (loss) income before reclassification
(36,065
)
 
(64
)
 
2,636

 
—

 
(33,493
)
Amounts reclassified from other comprehensive (loss) income
630

 
1

 
2,127

 
337

 
3,095

Other comprehensive (loss) income, net
(35,435
)
 
(63
)
 
4,763

 
337

 
(30,398
)
Balance at September 30, 2018
$
(47,919
)
 
$
(443
)
 
$
(3,636
)
 
$
(24,946
)
 
$
(76,944
)






The following table presents amounts reclassified from each component of accumulated other comprehensive loss on a gross and net of tax basis for the three and nine months ended September 30, 2018 and 2017:
 
 
Amounts Reclassified from
Accumulated Other Comprehensive Loss
 
 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
Components of Accumulated Other Comprehensive Loss
 
2018
 
2017
 
2018
 
2017
 
Income Statement Line Item
 
 
(in thousands)
 
 
Unrealized (losses) gains on AFS securities before tax
 
$
(79
)
 
$
6

 
$
(880
)
 
$
5

 
(Losses) gains on securities transactions, net
Tax effect
 
27

 
(2
)
 
250

 
(1
)
 
 
Total net of tax
 
(52
)
 
4

 
(630
)
 
4

 
 
Non-credit impairment losses on AFS securities before tax:
 
 
 
 
 
 
 
 
 
 
Accretion of credit loss impairment due to an increase in expected cash flows
 
(7
)
 
67

 
(1
)
 
283

 
Interest and dividends on investment securities (taxable)
Tax effect
 
2

 
(27
)
 
—

 
(117
)
 
 
Total net of tax
 
(5
)
 
40

 
(1
)
 
166

 
 
Unrealized losses on derivatives (cash flow hedges) before tax
 
(660
)
 
(1,930
)
 
(2,977
)
 
(6,762
)
 
Interest expense
Tax effect
 
188

 
798

 
850

 
2,799

 
 
Total net of tax
 
(472
)
 
(1,132
)
 
(2,127
)
 
(3,963
)
 
 
Defined benefit pension plan:
 
 
 
 
 
 
 
 
 
 
Amortization of net loss
 
(157
)
 
(101
)
 
(471
)
 
(303
)
 
*
Tax effect
 
44

 
42

 
134

 
126

 
 
Total net of tax
 
(113
)
 
(59
)
 
(337
)
 
(177
)
 
 
Total reclassifications, net of tax
 
$
(642
)
 
$
(1,147
)
 
$
(3,095
)
 
$
(3,970
)
 
 
 

*
Amortization of net loss is included in the computation of net periodic pension cost recognized within other non-interest expense.