Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2021

Stockholders Equity Note [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

	Available for Sale Securities			HTM Securities Transferred from AFS			Employee Benefit Plans			Cash Flow Hedges			Equity Method Investment			Total
(in thousands)
Balance, December 31, 2019	$	28,950		$	639		$	(101,278	)	$	17,399		$	(434	)	$	(54,724	)
Net change in unrealized gain or loss		176,009			—			—			46,180			(4,935	)		217,254
Reclassification of net income or loss realized and included in earnings		—			—			4,656			(11,249	)		—			(6,593	)
Valuation adjustment to employee benefit plans		—			—			(10,251	)		—			—			(10,251	)
Amortization of unrealized net gain or loss on securities transferred to HTM		—			(378	)		—			—			—			(378	)
Income tax expense (benefit)		39,817			(85	)		(1,265	)		7,903			—			46,370
Balance, September 30, 2020	$	165,142		$	346		$	(105,608	)	$	44,427		$	(5,369	)	$	98,938
Balance, December 31, 2020	$	171,224		$	276		$	(125,573	)	$	39,511		$	(5,369	)	$	80,069
Net change in unrealized gain or loss		(144,715	)		—			—			353			438			(143,924	)
Reclassification of net income or loss realized and included in earnings		2,166			—			3,970			(19,941	)		4,468			(9,337	)
Valuation adjustments to pension plan attributable to VERIP and curtailment		—			—			59,606			—			—			59,606
Other valuation adjustments to employee benefit plans		—			—			(10,651	)		—			—			(10,651	)
Amortization of unrealized net gain or loss on securities transferred to HTM		—			(134	)		—			—			—			(134	)
Income tax expense (benefit)		(31,952	)		(30	)		11,783			(4,370	)		—			(24,569	)
Balance, September 30, 2021	$	60,627		$	172		$	(84,431	)	$	24,293		$	(463	)	$	198

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

The following table shows the line items of the consolidated statements of income affected by amounts reclassified from AOCI.

	Nine Months Ended
Amount reclassified from AOCI (a)	September 30,						Affected line item on
(in thousands)	2021			2020			the statement of income
Loss on sale of AFS securities	$	(2,166	)	$	—		Noninterest income
Tax effect		487			—		Income taxes
Net of tax		(1,679	)		—		Net income
Amortization of unrealized net gain on securities transferred to HTM		134			378		Interest income
Tax effect		(30	)		(85	)	Income taxes
Net of tax		104			293		Net income
Amortization of defined benefit pension and post-retirement items		(3,970	)		(4,656	)	Other noninterest expense (b)
Tax effect		884			1,053		Income taxes
Net of tax		(3,086	)		(3,603	)	Net income
Reclassification of unrealized gain on cash flow hedges		18,771			12,602		Interest income
Tax effect		(4,188	)		(2,851	)	Income taxes
Net of tax		14,583			9,751		Net income
Amortization of gain (loss) on terminated cash flow hedges		1,170			(1,353	)	Interest income
Tax effect		(261	)		306		Income taxes
Net of tax		909			(1,047	)	Net income
Reclassification of unrealized loss on equity method investment		(4,468	)		—		Noninterest income
Tax effect		—			—		Income taxes
Net of tax		(4,468	)		—		Net income
Total reclassifications, net of tax	$	6,363		$	5,394		Net income

(a) Amounts in parentheses 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 other noninterest expense (see Note 11 – Retirement Plans for additional details).