Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Components of Total Comprehensive Income

The components of total comprehensive income for the three and six months ended June 30, 2018 and 2017 are as follows:

	Three Months Ended						Six Months Ended
	June 30						June 30
	2018			2017			2018			2017
Net Income	$	66,274		$	37,059		$	127,980		$	75,868
Available for sale (“AFS”) securities:
AFS securities with OTTI charges during the period		0			(16	)		0			(60	)
Related income tax effect		0			6			0			22
Less: OTTI charges recognized in net income		0			16			0			60
Related income tax benefit		0			(6	)		0			(22	)
Reclassification of previous noncredit OTTI to credit OTTI		0			0			0			0
Related income tax benefit		0			(0	)		0			(0	)
Net unrealized (losses) gains on AFS securities with OTTI		0			0			0			0
AFS securities – all other:
Change in net unrealized gain on AFS securities arising during the period		(10,684	)		5,686			(32,701	)		11,262
Related income tax effect		4,162			(2,104	)		9,292			(4,167	)
Net reclassification adjustment for (gains) losses included in net income		27			(763	)		176			(977	)
Related income tax expense (benefit)		(6	)		282			(41	)		361
		(6,501	)		3,101			(23,274	)		6,479
Net effect of AFS securities on other comprehensive income		(6,501	)		3,101			(23,274	)		6,479
Held to maturity (“HTM”) securities:
Accretion on the unrealized loss for securities transferred from AFS to the HTM investment portfolio prior to call or maturity		2			2			4			4
Related income tax expense		(1	)		(1	)		(2	)		(2	)
Net effect of HTM securities on other comprehensive income		1			1			2			2
Pension plan:
Recognized net actuarial loss		1,162			1,100			2,311			2,187
Related income tax benefit		(110	)		(405	)		(526	)		(797	)
Net effect of change in pension plan asset on other comprehensive income		1,052			695			1,785			1,390
Total change in other comprehensive income		(5,448	)		3,797			(21,487	)		7,871
Total Comprehensive Income	$	60,826		$	40,856		$	106,493		$	83,739

Components of Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income for the six months ended June 30, 2018 are as follows:

Changes in Accumulated Other Comprehensive Income (AOCI) by Component ^(a)

For the Six Months Ended June 30, 2018

	Unrealized Gains/Losses on AFS Securities			Accretion on the unrealized loss for securities transferred from AFS to the HTM			Defined Benefit Pension Items			Total
Balance at January 1, 2018	($	6,204	)	($	46	)	($	35,775	)	($	42,025	)
Cumulative effect of adopting Accounting Standard Update 2016-01		(136	)		0			0			(136	)
Reclass due to adopting Accounting Standard Update 2018-02		(1,632	)		0			(4,721	)		(6,353	)
Other comprehensive income before reclassification		(23,409	)		2			0			(23,407	)
Amounts reclassified from accumulated other comprehensive income		135			0			1,785			1,920
Net current-period other comprehensive income, net of tax		(23,274	)		2			1,785			(21,487	)
Balance at June 30, 2018	($	31,246	)	($	44	)	($	38,711	)	($	70,001	)

(a) All amounts are net-of-tax.

Reclassifications Out of Accumulated Other Comprehensive Income

Reclassifications out of Accumulated Other Comprehensive Income (AOCI)

For the Six Months Ended June 30, 2018

Details about AOCI Components	Amount Reclassified from AOCI			Affected Line Item in the Statement Where Net Income is Presented
Available for sale (“AFS”) securities:
Reclassification of previous noncredit OTTI to credit OTTI	$	0		Net investment securities (losses) gains
Net reclassification adjustment for losses (gains) included in net income		176		Net investment securities (losses) gains
		176		Total before tax
Related income tax effect		(41	)	Tax expense
		135		Net of tax
Pension plan:
Recognized net actuarial loss		2,311	(a)
		2,311		Total before tax
Related income tax effect		(526	)	Tax expense
		1,785		Net of tax
Total reclassifications for the period	$	1,920

(a) This AOCI component is included in the computation of net periodic pension cost (see Note 14, Employee Benefit Plans)