Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2016

Components of Accumulated Other Comprehensive Income (Loss)



	Available		HTM Securities				Loss on
	for Sale		Transferred		Employee		Effective Cash
(in thousands)	Securities		from AFS		Benefit Plans		Flow Hedges		Total
Balance, December 31, 2014	$	18,001	$	(19,074)	$	(48,626)	$	(375)	$	(50,074)
Other comprehensive income before income taxes:
Net change in unrealized gain		163		—		—		2,011		2,174
Reclassification of net (gain) losses realized and included in earnings		(165)		—		2,373		—		2,208
Valuation adjustment for employee benefit plans		—		—		(959)		—		(959)
Amortization of unrealized net loss on securities transferred to HTM		—		2,609		—		—		2,609
Income tax (benefit) expense		(73)		953		513		732		2,125
Balance, September 30, 2015	$	18,072	$	(17,418)	$	(47,725)	$	904	$	(46,167)
Balance, December 31, 2015	$	4,268	$	(16,795)	$	(67,890)	$	(178)	$	(80,595)
Other comprehensive income before income taxes:
Net change in unrealized gain		38,835		—		—		1,162		39,997
Reclassification of net (gain) losses realized and included in earnings		(1,435)		—		4,395		—		2,960
Valuation adjustment for employee benefit plans		—		—		(6,347)				(6,347)
Amortization of unrealized net loss on securities transferred to HTM		—		2,736		—		—		2,736
Income tax expense (benefit)		13,701		1,029		(714)		424		14,440
Balance, September 30, 2016	$	27,967	$	(15,088)	$	(69,128)	$	560	$	(55,689)

Line Items in Consolidated Income Statements Affected by Amounts Reclassified from Accumulated Other Comprehensive Income



	Nine Months Ended
Amount reclassified from AOCI (a)	September 30,				Affected line item on
(in thousands)		2016		2015	the income statement
Gain on sale of AFS securities	$	1,435	$	165	Securities transactions
Tax effect		(502)		(58)	Income taxes
Net of tax		933		107	Net income
Amortization of unrealized net loss on securities transferred to HTM		(2,736)		(2,609)	Interest income
Tax effect		1,029		953	Income taxes
Net of tax		(1,707)		(1,656)	Net income
Amortization of defined benefit pension and post-retirement items		(4,395)		(2,373)	Employee benefits expense (b)
Tax effect		1,538		831	Income taxes
Net of tax		(2,857)		(1,542)	Net income
Total reclassifications, net of tax	$	(3,631)	$	(3,091)	Net income

(a)

Amounts in parenthesis indicate reduction in net income.

(b)

These accumulated other comprehensive income components are included in the computation of net periodic pension and post-retirement cost that is reported with employee benefits expense (see Note 11 for additional details).