Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2017

Components of Accumulated Other Comprehensive Income (Loss)



	Available		HTM Securities
	for Sale		Transferred		Employee		Cash
(in thousands)	Securities		from AFS		Benefit Plans		Flow Hedges		Total
Balance, December 31, 2015	$	4,268	$	(16,795)	$	(67,890)	$	(178)	$	(80,595)
Other comprehensive income (loss) before income taxes:
Net change in unrealized gain		38,835		—		—		1,162		39,997
Reclassification of net (gain) loss 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)
Balance, December 31, 2016	$	(28,679)	$	(14,392)	$	(72,501)	$	(4,960)	$	(120,532)
Other comprehensive income (loss) before income taxes:
Net change in unrealized gain (loss)		21,026		—		—		(1,232)		19,794
Reclassification of net losses realized and included in earnings		—		—		4,144		335		4,479
Valuation adjustment for pension plan amendment (a)		—		—		17,315		—		17,315
Other valuation adjustments for employee benefit plan		—		—		(9,185)		—		(9,185)
Amortization of unrealized net loss on securities transferred to HTM		—		2,726		—		—		2,726
Income tax expense (benefit)		7,649		1,012		4,416		(329)		12,748
Balance, September 30, 2017	$	(15,302)	$	(12,678)	$	(64,643)	$	(5,528)	$	(98,151)

(a)

For further discussion of the pension plan amendment, see Note 11 – Retirement Plans.

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)		2017		2016	the statement of income
Gain on sale of AFS securities	$	—	$	1,435	Securities transactions
Tax effect		—		(502)	Income taxes
Net of tax		—		933	Net income
Amortization of unrealized net loss on securities transferred to HTM		(2,726)		(2,736)	Interest income
Tax effect		1,012		1,029	Income taxes
Net of tax		(1,714)		(1,707)	Net income
Amortization of defined benefit pension and post-retirement items		(4,144)		(4,395)	Employee benefits expense (b)
Tax effect		1,491		1,538	Income taxes
Net of tax		(2,653)		(2,857)	Net income
Amortization of loss on terminated cash flow hedges		(335)		—	Interest income
Tax effect		123		—	Income taxes
Net of tax		(212)		—	Net income
Total reclassifications, net of tax	$	(4,579)	$	(3,631)	Net income

(a)

Amounts in parenthesis indicate reduction in net income.

(b)

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