Accumulated Other Comprehensive Loss, Net of Tax

12 Months Ended

Dec. 31, 2020

Accumulated Other Comprehensive Loss, Net of Tax

Accumulated Other Comprehensive Income, Net of Tax

The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax (AOCI/AOCL), by component:


(In thousands)	Securities Available For Sale		Derivative Instruments		Defined Benefit Pension and Other Postretirement Benefit Plans		Total
Balance at December 31, 2017	$	(27,947)	$	(15,016)	$	(48,568)	$	(91,531)
Other comprehensive (loss) income before reclassifications	(43,427)		208		(7,122)		(50,341)
Amounts reclassified from accumulated other comprehensive loss	—		5,495		5,725		11,220
Net current-period other comprehensive (loss) income, net of tax	(43,427)		5,703		(1,397)		(39,121)
Balance at December 31, 2018	(71,374)		(9,313)		(49,965)		(130,652)
Other comprehensive income (loss) before reclassifications	88,647		(4,945)		1,622		85,324
Amounts reclassified from accumulated other comprehensive loss	(22)		5,074		4,204		9,256
Net current-period other comprehensive income (loss), net of tax	88,625		129		5,826		94,580
Balance at December 31, 2019	17,251		(9,184)		(44,139)		(36,072)
Other comprehensive income (loss) before reclassifications	50,179		20,667		(3,887)		66,959
Amounts reclassified from accumulated other comprehensive loss	(6)		8,435		2,940		11,369
Net current-period other comprehensive income (loss), net of tax	50,173		29,102		(947)		78,328
Balance at December 31, 2020	$	67,424	$	19,918	$	(45,086)	$	42,256

The following table provides information for the items reclassified from AOCI/AOCL:


	Years ended December 31,
Accumulated Other Comprehensive Income (Loss) Components	2020		2019		2018		Associated Line Item in the Consolidated Statement Of Income
(In thousands)
Securities available-for-sale:
Unrealized gains on investments	$	8	$	29	$	—	Gain on sale of investment securities, net


Tax expense	(2)		(7)		—		Income tax expense
Net of tax	$	6	$	22	$	—
Derivative instruments:
Hedge terminations	$	(7,884)	$	(5,509)	$	(7,425)	Interest expense
Premium amortization	(3,536)		(1,323)		—		Interest income
Tax benefit	2,985		1,758		1,930		Income tax expense
Net of tax	$	(8,435)	$	(5,074)	$	(5,495)
Defined benefit pension and other postretirement benefit plans:
Amortization of net loss	$	(3,976)	$	(5,706)	$	(7,708)	Other non-interest expense
Tax benefit	1,036		1,502		1,983		Income tax expense
Net of tax	$	(2,940)	$	(4,204)	$	(5,725)

The following tables summarize the items and related tax effects for each component of OCI/OCL, net of tax:


	Year ended December 31, 2020
(In thousands)	Pre-Tax Amount		Tax Benefit (Expense)		Net of Tax Amount
Securities available-for-sale:
Net unrealized gain during the period	$	68,116	$	(17,937)	$	50,179
Reclassification for net gain included in net income	(8)		2		(6)
Total securities available-for-sale	68,108		(17,935)		50,173
Derivative instruments:
Net unrealized gain during the period	27,683		(7,016)		20,667
Reclassification adjustment for net loss included in net income	11,420		(2,985)		8,435
Total derivative instruments	39,103		(10,001)		29,102
Defined benefit pension and other postretirement benefit plans:
Current year actuarial loss	(5,262)		1,375		(3,887)
Reclassification adjustment for amortization of net loss included in net income	3,976		(1,036)		2,940
Total defined benefit pension and postretirement benefit plans	(1,286)		339		(947)
Other comprehensive income, net of tax	$	105,925	$	(27,597)	$	78,328

	Year ended December 31, 2019
(In thousands)	Pre-Tax Amount		Tax Benefit (Expense)		Net of Tax Amount
Securities available-for-sale:
Net unrealized gain during the period	$	120,333	$	(31,686)	$	88,647
Reclassification for net gain included in net income	(29)		7		(22)
Total securities available-for-sale	120,304		(31,679)		88,625
Derivative instruments:
Net unrealized loss during the period	(6,672)		1,727		(4,945)
Reclassification adjustment for net loss included in net income	6,832		(1,758)		5,074
Total derivative instruments	160		(31)		129
Defined benefit pension and other postretirement benefit plans:
Current year actuarial gain	2,202		(580)		1,622
Reclassification adjustment for amortization of net loss included in net income	5,706		(1,502)		4,204
Total defined benefit pension and postretirement benefit plans	7,908		(2,082)		5,826
Other comprehensive income, net of tax	$	128,372	$	(33,792)	$	94,580

	Year ended December 31, 2018
(In thousands)	Pre-Tax Amount		Tax Benefit (Expense)		Net of Tax Amount
Securities available-for-sale:
Net unrealized loss during the period	$	(58,792)	$	15,365	$	(43,427)
Reclassification for net gain included in net income	—		—		—
Total securities available-for-sale	(58,792)		15,365		(43,427)
Derivative instruments:
Net unrealized gain during the period	280		(72)		208
Reclassification adjustment for net loss included in net income	7,425		(1,930)		5,495
Total derivative instruments	7,705		(2,002)		5,703
Defined benefit pension and other postretirement benefit plans:
Current year actuarial loss	(9,600)		2,478		(7,122)
Reclassification adjustment for amortization of net loss included in net income	7,708		(1,983)		5,725
Total defined benefit pension and postretirement benefit plans	(1,892)		495		(1,397)
Other comprehensive loss, net of tax	$	(52,979)	$	13,858	$	(39,121)