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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive loss included the following at December 31, 2018 and 2017:
 
December 31, 2018
 
December 31, 2017
(Dollars in thousands)
Accumulated
other
comprehensive
loss
 
Deferred
tax
benefit
 
Accumulated
other
comprehensive
loss,
net of tax
 
Accumulated
other
comprehensive
loss
 
Deferred
tax
benefit
 
Accumulated
other
comprehensive
loss,
net of tax
Unrealized losses on securities available for sale
$
(50,007
)
 
$
(11,502
)
 
$
(38,505
)
 
$
(48,834
)
 
$
(17,889
)
 
$
(30,945
)
Unrealized losses on securities available for sale transferred to held to maturity
(92,401
)
 
(21,252
)
 
(71,149
)
 
—

 
—

 
—

Defined benefit pension items
(163,030
)
 
(37,497
)
 
(125,533
)
 
(144,999
)
 
(53,650
)
 
(91,349
)
Total
$
(305,438
)
 
$
(70,251
)
 
$
(235,187
)
 
$
(193,833
)
 
$
(71,539
)
 
$
(122,294
)

The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2018 and 2017:
(Dollars in thousands)
Unrealized (losses) gains on securities available-for-sale(1)
 
Unrealized losses on securities available for sale transferred to held to maturity(1)
 
Defined benefit pension items(1)
 
Total
Balance at January 1, 2017
$
(45,875
)
 
$
—

 
$
(89,317
)
 
$
(135,192
)
Other comprehensive income (loss) before reclassifications
17,635

 
—

 
(8,156
)
 
9,479

Amounts reclassified from accumulated other comprehensive loss
(2,705
)
 
—

 
6,124

 
3,419

Net current period other comprehensive income (loss)
14,930

 
—

 
(2,032
)
 
12,898

Balance at December 31, 2017
(30,945
)
 
—

 
(91,349
)
 
(122,294
)
Cumulative effect adjustments
(29,751
)
 
—

 
(20,300
)
 
(50,051
)
Other comprehensive income (loss) before reclassifications
22,461

 
(84,321
)
 
(24,649
)
 
(86,509
)
Amounts reclassified from accumulated other comprehensive loss
(270
)
 
13,172

 
10,765

 
23,667

Net current period other comprehensive income (loss)
22,191

 
(71,149
)
 
(13,884
)
 
(62,842
)
Balance at December 31, 2018
$
(38,505
)
 
$
(71,149
)
 
$
(125,533
)
 
$
(235,187
)
(1) All amounts are net of tax. Amounts in parentheses indicate debits.
Schedule of Expected Benefit Payments
Cash Flows

The following are estimated payments to pension plan participants in the indicated periods for each plan:
(Dollars in thousands)
BancShares Plan
 
Bancorporation Plan
2019
$
27,050

 
$
7,044

2020
29,137

 
7,473

2021
31,260

 
7,863

2022
33,168

 
8,284

2023
35,031

 
8,685

2024-2028
201,126

 
48,868
Deferred Benefit Plans Liability Rollforward
The following table provides the accrued liability as of December 31, 2018 and 2017, and the changes in the accrued liability during the years then ended:
(Dollars in thousands)
2018
 
2017
Present value of accrued liability as of January 1
$
37,299

 
$
38,597

Liability assumed in the Capital Commerce merger
808

 
—

Benefit expense and interest cost
535

 
3,262

Benefits paid
(4,579
)
 
(4,560
)
Present value of accrued liability as of December 31
$
34,063

 
$
37,299

Discount rate at December 31
4.38
%
 
3.76
%
BancShares Plan  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Funded Status
The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2018 and 2017.
(Dollars in thousands)
2018
 
2017
Change in benefit obligation
 
 
 
Projected benefit obligation at January 1
$
749,948

 
$
673,227

Service cost
13,582

 
12,638

Interest cost
28,376

 
28,940

Actuarial (gain) loss
(77,484
)
 
57,041

Benefits paid
(23,507
)
 
(21,898
)
Projected benefit obligation at December 31
690,915

 
749,948

Change in plan assets
 
 
 
Fair value of plan assets at January 1
712,999

 
600,616

Actual return on plan assets
(48,025
)
 
84,281

Employer contributions
50,000

 
50,000

Benefits paid
(23,507
)
 
(21,898
)
Fair value of plan assets at December 31
691,467

 
712,999

Funded status at December 31
$
552

 
$
(36,949
)
Schedule of Amounts Recognized in the Balance Sheets
The amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 consist of:
(Dollars in thousands)
2018
 
2017
Other assets
$
552

 
$
—

Other liabilities
—

 
(36,949
)
Net asset (liability) recognized
$
552

 
$
(36,949
)
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss)
The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2018 and 2017.
(Dollars in thousands)
2018
 
2017
Net loss
$
130,564

 
$
125,745

Prior service cost
57

 
137

Accumulated other comprehensive loss, excluding income taxes
$
130,621

 
$
125,882
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
The following table provides expected amortization amounts for 2019.
(Dollars in thousands)
 
Actuarial loss
$
8,455

Prior service cost
57

Total
$
8,512
Schedule of Net Benefit Costs
The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in OCI for the years ended December 31, 2018, 2017 and 2016.
 
Year ended December 31
(Dollars in thousands)
2018
 
2017
 
2016
Service cost
$
13,582

 
$
12,638

 
$
12,618

Interest cost
28,376

 
28,940

 
28,892

Expected return on assets
(47,867
)
 
(42,074
)
 
(36,643
)
Amortization of prior service cost
79

 
210

 
210

Amortization of net actuarial loss
13,589

 
8,855

 
6,859

Total net periodic benefit cost
7,759

 
8,569

 
11,936

Current year actuarial loss
18,407

 
14,834

 
56,268

Amortization of actuarial loss
(13,589
)
 
(8,855
)
 
(6,859
)
Amortization of prior service cost
(79
)
 
(210
)
 
(210
)
Total recognized in other comprehensive income
4,739

 
5,769

 
49,199

Total recognized in net periodic benefit cost and other comprehensive income
$
12,498

 
$
14,338

 
$
61,135
Schedule of Assumptions Used
The assumptions used to determine the benefit obligations at December 31, 2018 and 2017 are as follows:
(Dollars in thousands)
2018
 
2017
Discount rate
4.38
%
 
3.76
%
Rate of compensation increase
5.60

 
4.00


The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018, 2017 and 2016, are as follows:
(Dollars in thousands)
2018
 
2017
 
2016
Discount rate
3.76
%
 
4.30
%
 
4.68
%
Rate of compensation increase
4.00

 
4.00

 
4.00

Expected long-term return on plan assets
7.50

 
7.50

 
7.50
Schedule of Fair Value and Allocation of Plan Assets
BancShares Plan
The fair values of pension plan assets at December 31, 2018 and 2017, by asset class are as follows:
 
December 31, 2018
(Dollars in thousands)
Market Value
 
Quoted prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Nonobservable
Inputs
(Level 3)
 
Target Allocation
 
Actual %
of Plan
Assets
Cash and equivalents
$
16,236

 
$
16,236

 
—

 
—

 
0 - 5%
 
2
%
Equity securities
 
 
 
 
 
 
 
 
30 - 70%
 
64
%
Common and preferred stock
117,300

 
117,300

 
—

 
—

 
 
 
 
Mutual funds
321,023

 
319,254

 
1,769

 
—

 
 
 
 
Fixed income
 
 
 
 
 
 
 
 
15 - 45%
 
30
%
U.S. government and government agency securities
65,545

 
—

 
65,545

 
—

 
 
 
 
Corporate bonds
119,469

 
—

 
119,469

 
—

 
 
 
 
Mutual funds
23,813

 
23,813

 
—

 
—

 
 
 
 
Alternative investments
 
 
 
 
 
 
 
 
0 - 30%
 
4
%
Mutual funds
28,081

 
28,081

 
—

 
—

 
 
 
 
Total pension assets
$
691,467

 
$
504,684

 
$
186,783

 
$
—

 
 
 
100
%
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
Market Value
 
Quoted prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Nonobservable
Inputs
(Level 3)
 
Target Allocation
 
Actual %
of Plan
Assets
Cash and equivalents
$
67,084

 
$
67,084

 
$
—

 
$
—

 
0 - 5%
 
9
%
Equity securities
 
 
 
 
 
 
 
 
30 - 70%
 
65
%
Common and preferred stock
76,920

 
76,920

 
—

 
—

 
 
 
 
Mutual funds
381,747

 
360,175

 
21,572

 
—

 
 
 
 
Fixed income
 
 
 
 
 
 
 
 
15 - 45%
 
23
%
U.S. government and government agency securities
60,663

 
—

 
60,663

 
—

 
 
 
 
Corporate bonds
83,571

 
—

 
83,571

 
—

 
 
 
 
Mutual funds
20,497

 
20,497

 
—

 
—

 
 
 
 
Alternative investments


 


 

 

 
0 - 30%
 
3
%
Mutual funds
22,517

 
22,517

 
—

 
—

 
 
 
 
Total pension assets
$
712,999

 
$
547,193

 
$
165,806

 
$
—

 
 
 
100
%
Bancorporation Plan  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Net Funded Status
The following table provides the changes in benefit obligation and plan assets and the funded status of the plan at December 31, 2018 and 2017.
(Dollars in thousands)
2018
 
2017
Change in benefit obligation
 
 
 
Projected benefit obligation at January 1
$
169,480

 
$
156,831

Service cost
2,572

 
2,548

Interest cost
6,357

 
6,653

Actuarial (gain) loss
(10,268
)
 
9,168

Benefits paid
(6,081
)
 
(5,720
)
Projected benefit obligation at December 31
162,060

 
169,480

Change in plan assets
 
 
 
Fair value of plan assets at January 1
168,591

 
152,084

Actual return on plan assets
(11,443
)
 
22,227

Benefits paid
(6,081
)
 
(5,720
)
Fair value of plan assets at December 31
151,067

 
168,591

Funded status at December 31
$
(10,993
)
 
$
(889
)
Schedule of Amounts Recognized in the Balance Sheets
The amounts recognized in the Consolidated Balance Sheets at December 31, 2018 and 2017 consist of:
(Dollars in thousands)
2018
 
2017
Other assets
$
—

 
$
—

Other liabilities
(10,993
)
 
(889
)
Net liability recognized
$
(10,993
)
 
$
(889
)
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss)
The following table details the amounts recognized in accumulated other comprehensive loss at December 31, 2018 and 2017.
(Dollars in thousands)
2018
 
2017
Net loss
$
32,409

 
$
19,117

Prior service cost
—

 
—

Accumulated other comprehensive loss, excluding income taxes
$
32,409

 
$
19,117
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
The following table provides expected amortization amounts for 2019.
(Dollars in thousands)
 
Actuarial loss
$
2,505

Prior service cost
—

Total
$
2,505
Schedule of Net Benefit Costs
The following table shows the components of periodic benefit cost related to the pension plan and changes in plan assets and benefit obligations recognized in OCI for the years ended December 31, 2018, 2017 and 2016.
 
Year ended December 31
(Dollars in thousands)
2018
 
2017
 
2016
Service cost
$
2,572

 
$
2,548

 
$
2,567

Interest cost
6,357

 
6,653

 
6,775

Expected return on assets
(12,429
)
 
(11,170
)
 
(11,101
)
Amortization of net actuarial loss
313

 
655

 
—

Total net periodic benefit income
(3,187
)
 
(1,314
)
 
(1,759
)
Current year actuarial gain (loss)
13,605

 
(1,889
)
 
14,157

Amortization of actuarial loss
(313
)
 
(655
)
 
—

Total recognized in other comprehensive income
13,292

 
(2,544
)
 
14,157

Total recognized in net periodic benefit cost and other comprehensive income
$
10,105

 
$
(3,858
)
 
$
12,398
Schedule of Assumptions Used
The assumptions used to determine the benefit obligations at December 31, 2018 and 2017 are as follows:
(Dollars in thousands)
2018
 
2017
Discount rate
4.38
%
 
3.76
%
Rate of compensation increase
5.60

 
4.00

The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2018, 2017 and 2016 are as follows:
(Dollars in thousands)
2018
 
2017
 
2016
Discount rate
3.76
%
 
4.30
%
 
4.68
%
Rate of compensation increase
4.00

 
4.00

 
4.00

Expected long-term return on plan assets
7.50

 
7.50

 
7.50
Schedule of Fair Value and Allocation of Plan Assets
 
December 31, 2018
(Dollars in thousands)
Market Value
 
Quoted prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Nonobservable
Inputs
(Level 3)
 
Target Allocation
 
Actual %
of Plan
Assets
Cash and equivalents
$
2,793

 
$
2,793

 
$
—

 
$
—

 
0 - 5%
 
2
%
Equity securities
 
 
 
 
 
 
 
 
30 - 70%
 
66
%
Common and preferred stock
26,639

 
26,639

 
—

 
—

 
 
 
 
Mutual funds
74,305

 
73,850

 
455

 
—

 
 
 
 
Fixed income
 
 
 
 
 
 
 
 
15 - 45%
 
27
%
U.S. government and government agency securities
13,749

 
—

 
13,749

 
—

 
 
 
 
Corporate bonds
20,889

 
—

 
20,889

 
—

 
 
 
 
Mutual funds
5,748

 
5,748

 
—

 
—

 
 
 
 
Alternative investments
 
 
 
 
 
 
 
 
0 - 30%
 
5
%
Mutual funds
6,944

 
6,944

 
—

 
—

 
 
 
 
Total pension assets
$
151,067

 
$
115,974

 
$
35,093

 
—

 
 
 
100
%
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
Market Value
 
Quoted prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant
Observable
Inputs
(Level 2)
 
Significant
Nonobservable
Inputs
(Level 3)
 
Target Allocation
 
Actual %
of Plan
Assets
Cash and equivalents
$
3,941

 
$
3,941

 
$
—

 
$
—

 
0 - 5%
 
2
%
Equity securities
 
 
 
 
 
 
 
 
30 - 70%
 
70
%
Common and preferred stock
26,892

 
26,892

 
—

 
—

 
 
 
 
Mutual funds
90,466

 
84,954

 
5,512

 
—

 
 
 
 
Fixed income
 
 
 
 
 
 
 
 
15 - 45%
 
25
%
U.S. government and government agency securities
15,798

 
—

 
15,798

 
—

 
 
 
 
Corporate bonds
20,572

 
—

 
20,572

 
—

 
 
 
 
Mutual funds
5,163

 
5,163

 
—

 
—

 
 
 
 
Alternative investments
 
 
 
 
 
 
 
 
0 - 30%
 
3
%
Mutual funds
5,759

 
5,759

 
—

 
—

 
 
 
 
Total pension assets
$
168,591

 
$
126,709

 
$
41,882

 
—

 
 
 
100
%