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Other Comprehensive Income
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Other Comprehensive Income
OTHER COMPREHENSIVE INCOME (Note 19)
The following table presents the tax effects allocated to each component of other comprehensive income (loss) for the years ended December 31, 2020, 2019 and 2018. Components of other comprehensive income (loss) include changes in net unrealized gains and losses on debt securities available for sale; unrealized gains and losses on derivatives used in cash flow hedging relationships; and the pension benefit adjustment for the unfunded portion of various employee, officer and director pension plans. 
 202020192018
Before
Tax
Tax
Effect
After
Tax
Before
Tax
Tax
Effect
After
Tax
Before
Tax
Tax
Effect
After
Tax
 (in thousands)
Unrealized gains and losses on available for sale (AFS) debt securities
Net gains (losses) arising during the period
$38,477 $(10,632)$27,845 $54,723 $(15,461)$39,262 $(32,123)$9,191 $(22,932)
Less reclassification adjustment for net (gains) losses included in net income (1)
(524)147 (377)150 (31)119 2,873 (636)2,237 
Net change
37,953 (10,485)27,468 54,873 (15,492)39,381 (29,250)8,555 (20,695)
Unrealized gains and losses on derivatives (cash flow hedges)
Net (losses) gains arising during the period
(3,169)918 (2,251)(1,380)391 (989)2,651 (777)1,874 
Less reclassification adjustment for net losses (gains) included in net income (2)
2,912 (838)2,074 1,808 (517)1,291 3,493 (999)2,494 
Net change
(257)80 (177)428 (126)302 6,144 (1,776)4,368 
Defined benefit pension plan
Net (losses) gains arising during the period
(5,719)2,301 (3,418)(2,385)(176)(2,561)(9,916)2,765 (7,151)
Amortization of prior service (cost) credit (3)
(136)38 (98)(135)42 (93)212 (66)146 
Amortization of net loss (3)
1,003 (282)721 264 (76)188 625 (178)447 
Net change
(4,852)2,057 (2,795)(2,256)(210)(2,466)(9,079)2,521 (6,558)
Total other comprehensive income (loss)
$32,844 $(8,348)$24,496 $53,045 $(15,828)$37,217 $(32,185)$9,300 $(22,885)
(1)    Included in gains (losses) on securities transactions, net.
(2)     Included in interest expense.
(3)     Included in the computation of net periodic pension cost. See Note 12 for details.
The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the years ended December 31, 2020, 2019 and 2018: 
 Components of Accumulated Other Comprehensive LossTotal
Accumulated
Other
Comprehensive
Loss
 Unrealized Gains
and Losses on AFS Securities
Unrealized Gains
and Losses on
Derivatives
Defined
Benefit
Pension
Plan
 (in thousands)
Balance-December 31, 2017$(12,384)$(8,338)$(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-January 1, 2018(12,864)(8,399)(25,283)(46,546)
Other comprehensive (loss) income before reclassifications(22,932)1,874 (7,151)(28,209)
Amounts reclassified from other comprehensive income (loss)
2,237 2,494 593 5,324 
Other comprehensive income (loss), net(20,695)4,368 (6,558)(22,885)
Balance-December 31, 2018(33,559)(4,031)(31,841)(69,431)
Other comprehensive income (loss) before reclassifications
39,262 (989)(2,561)35,712 
Amounts reclassified from other comprehensive income (loss)
119 1,291 95 1,505 
Other comprehensive income (loss), net39,381 302 (2,466)37,217 
Balance-December 31, 20195,822 (3,729)(34,307)(32,214)
Other comprehensive income (loss) before reclassifications
27,845 (2,251)(3,418)22,176 
Amounts reclassified from other comprehensive income (loss)
(377)2,074 623 2,320 
Other comprehensive income (loss), net27,468 (177)(2,795)24,496 
Balance-December 31, 2020$33,290 $(3,906)$(37,102)$(7,718)