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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits, Description [Abstract]  
Schedule of Net Funded Status
The following table provides the changes in benefit obligation and plan assets and the funded status of the Plans at December 31, 2021 and 2020.
(Dollars in thousands)20212020
Change in benefit obligation
Projected benefit obligation at January 1$1,077,653 $990,406 
Service cost15,351 14,279 
Interest cost29,864 34,197 
Actuarial (gains)/losses(30,591)72,080 
Benefits paid(35,967)(33,309)
Projected benefit obligation at December 311,056,310 1,077,653 
Change in plan assets
Fair value of plan assets at January 11,235,555 976,072 
Actual return on plan assets145,720 192,792 
Employer contributions32 100,000 
Benefits paid(35,967)(33,309)
Fair value of plan assets at December 311,345,340 1,235,555 
Funded status at December 31$289,030 $157,902 
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss) included the following at December 31, 2021 and 2020:
 December 31, 2021December 31, 2020
(Dollars in thousands)Accumulated
other
comprehensive income
 (loss)		Deferred
tax expense
(benefit)		Accumulated
other
comprehensive
income (loss),
net of tax		Accumulated
other
comprehensive income
 (loss)		Deferred
tax expense
(benefit)		Accumulated
other
comprehensive
income (loss),
net of tax
Unrealized (losses) gains on securities available for sale$(11,792)$(2,712)$(9,080)$102,278 $23,524 $78,754 
Unrealized (losses) gains on securities available for sale transferred to held to maturity(8,735)(2,009)(6,726)5,399 1,242 4,157 
Defined benefit pension items33,223 7,641 25,582 (91,751)(21,103)(70,648)
Total$12,696 $2,920 $9,776 $15,926 $3,663 $12,263 
The following table highlights changes in accumulated other comprehensive income (loss) by component for the years ended December 31, 2021 and 2020:
(Dollars in thousands)
Unrealized gains (losses) on securities available-for-sale(1)
Unrealized gains (losses) on securities available for sale transferred to held to maturity(1)(2)
Defined benefit pension items(1)
Total
Balance at January 1, 2020$5,792 $— $(132,515)$(126,723)
Net unrealized gains arising during period119,357 4,538 42,367 166,262 
Amounts reclassified from accumulated other comprehensive loss(46,395)(381)19,500 (27,276)
Net current period other comprehensive income72,962 4,157 61,867 138,986 
Balance at December 31, 202078,754 4,157 (70,648)12,263 
Net unrealized (losses) gains arising during the period(62,332)(9,747)75,368 3,289 
Amounts reclassified from accumulated other comprehensive income(25,502)(1,136)20,862 (5,776)
Net current period other comprehensive (loss) income(87,834)(10,883)96,230 (2,487)
Balance at December 31, 2021$(9,080)$(6,726)$25,582 $9,776 
(1) All amounts are net of tax. Amounts in parentheses indicate other comprehensive losses, which are debits or decreases to equity.
(2) Unrealized gains (losses) related to the reclassification of investment securities from available for sale to held to maturity. Refer to Note C, Investments, for additional information.
The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2021 and 2020.
(Dollars in thousands)20212020
Net actuarial (gain) loss$(33,223)$91,751 
Schedule of Net Benefit Costs
The following table shows the components of periodic benefit cost related to the Plans and changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2021, 2020 and 2019.
 Year ended December 31
(Dollars in thousands)202120202019
Service cost$15,351 $14,279 $12,767 
Interest cost29,864 34,197 37,260 
Expected return on assets(78,430)(65,689)(62,590)
Amortization of prior service cost— — 57 
Amortization of net actuarial loss27,093 25,324 10,924 
Total net periodic benefit cost (income)(6,122)8,111 (1,582)
Current year actuarial (gain) loss(97,880)(55,023)20,049 
Amortization of actuarial loss(27,093)(25,324)(10,924)
Amortization of prior service cost— — (57)
Net (gain) loss recognized in other comprehensive income(124,973)(80,347)9,068 
Total recognized in net periodic benefit cost and other comprehensive income$(131,095)$(72,236)$7,486 
Schedule of Assumptions Used
The assumptions used to determine the benefit obligations at December 31, 2021 and 2020 are as follows:
20212020
Discount rate3.04 %2.76 %
Rate of compensation increase5.60 5.60 
The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2021, 2020 and 2019, are as follows:
202120202019
Discount rate2.76 %3.46 %4.38 %
Rate of compensation increase5.60 5.60 5.60 
Expected long-term return on plan assets7.50 7.50 7.50 
Schedule of Fair Value and Allocation of Plan Assets
The fair values of pension plan assets at December 31, 2021 and 2020, by asset class are as follows:
December 31, 2021
(Dollars in thousands)Market ValueLevel 1Level 2
Level 3		Target AllocationActual %
of Plan
Assets
Cash and equivalents$16,674 $16,674 $— $— 
0 - 5%
1 %
Equity securities
30 - 70%
61 %
Common and preferred stock76,240 76,240 — — 
Mutual funds481,630 481,630 — — 
Exchange traded funds263,072 263,072 — — 
Fixed income
15 - 45%
38 %
U.S. government and government agency securities228,399 — 228,399 — 
Corporate bonds279,325 2,902 276,423 — 
Total pension assets$1,345,340 $840,518 $504,822 $— 100 %
December 31, 2020
Market ValueLevel 1Level 2
Level 3		Target AllocationActual %
of Plan
Assets
Cash and equivalents$37,913 $37,913 $— $— 
0 - 5%
3 %
Equity securities
30 - 70%
77 %
Common and preferred stock144,924 144,924 — — 
Mutual funds559,472 559,472 — — 
Exchange traded funds248,819 248,819 — — 
Fixed income
15 - 45%
20 %
U.S. government and government agency securities90,292 — 90,292 — 
Corporate bonds154,135 — 154,135 — 
Total pension assets$1,235,555 $991,128 $244,427 $— 100 %
Schedule of Expected Benefit Payments
Cash Flows
The following are estimated payments to pension plan participants in the indicated periods:
(Dollars in thousands)Estimated Payments
2022$41,051 
202343,686 
202446,266 
202548,548 
202650,756 
2027-2031280,173 
Deferred Benefit Plans Liability Rollforward
The following table provides the accrued liability as of December 31, 2021 and 2020, and the changes in the accrued liability during the years then ended:
(Dollars in thousands)20212020
Accrued liability as of January 1$42,655 $45,295 
Discount rate adjustment(680)1,719 
Benefit expense and interest cost2,015 3,503 
Benefits paid(5,244)(7,862)
Accrued liability as of December 31$38,746 $42,655 
Discount rate at December 313.04 %2.76 %