Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2014

Stockholders' Equity

Components of basic and diluted earnings per share

	Three months ended			Six months ended
	June 30,			June 30,
	2014		2013	2014	2013
	(in thousands, except per share amounts)
Net income	$	82,988	51,957	157,852	105,820
Weighted average shares outstanding - basic	85,073		85,869	85,046	85,731
Dilutive potential shares from stock options	—		—	—	1
Weighted average shares outstanding - diluted	85,073		85,869	85,046	85,732
Earnings per share basic and diluted	$	0.98	0.61	1.86	1.23

Summary of other comprehensive income (loss) activity

Three months ended June 30, 2014	Unrealized gains on investment securities			Change in valuation allowance for unrealized gains (losses) on investment securities		Pension and postretirement benefits		Total accumulated other comprehensive income (loss)
	(in thousands)
Balance at March 31, 2014	$	2,709		552		(19,472	)	(16,211	)
Other comprehensive income before reclassification	2,253			1,317		—		3,570
Amount reclassified from accumulated other comprehensive income	(884		)	(516	)	285		(1,115	)
Net current period other comprehensive income	1,369			801		285		2,455
Balance at June 30, 2014	$	4,078		1,353		(19,187	)	(13,756	)

Three months ended June 30, 2013	Unrealized gains on investment securities			Change in valuation allowance for unrealized gains (losses) on investment securities		Pension and postretirement benefits		Total accumulated other comprehensive income (loss)
	(in thousands)
Balance at March 31, 2013	$	3,567		1,066		(47,806	)	(43,173	)
Other comprehensive income before reclassification	(89		)	(69	)	—		(158	)
Amount reclassified from accumulated other comprehensive income	(2,047		)	(1,198	)	592		(2,653	)
Net current period other comprehensive income (loss)	(2,136		)	(1,267	)	592		(2,811	)
Balance at June 30, 2013	$	1,431		(201	)	(47,214	)	(45,984	)
Six months ended June 30, 2014	Unrealized gains on investment securities			Change in valuation allowance for unrealized gains (losses) on investment securities		Pension and postretirement benefits		Total accumulated other comprehensive income (loss)
	(in thousands)
Balance at December 31, 2013	$	3,150		810		(19,819	)	(15,859	)
Other comprehensive income before reclassification	2,557			1,494		—		4,051
Amount reclassified from accumulated other comprehensive income	(1,629		)	(951	)	632		(1,948	)
Net current period other comprehensive income	928			543		632		2,103
Balance at June 30, 2014	$	4,078		1,353		(19,187	)	(13,756	)

Six months ended June 30, 2013	Unrealized gains on investment securities			Change in valuation allowance for unrealized gains (losses) on investment securities		Pension and postretirement benefits		Total accumulated other comprehensive income (loss)
	(in thousands)
Balance at December 31, 2012	$	1,823		32		(48,652	)	(46,797	)
Other comprehensive income before reclassification	3,190			1,865		—		5,055
Amount reclassified from accumulated other comprehensive income	(3,582		)	(2,098	)	1,438		(4,242	)
Net current period other comprehensive income (loss)	(392		)	(233	)	1,438		813
Balance at June 30, 2013	$	1,431		(201	)	(47,214	)	(45,984	)

Summary of reclassifications from accumulated other comprehensive income (loss) and included in net income

	For the three months ended June 30, 2014
	Pre-tax			Tax (expense) benefit		Net of tax		Statement of income line item
	(in thousands)
Reclassifications included in net income:
Realized gain on sale of available for sale investment securities	$	1,404		(520	)	884		Investment and other income
Valuation allowance	—			516		516		Provision for income taxes
Amortization of pension and postretirement benefits	(452		)	167		(285	)	Underwriting and distribution expense and Compensation and related costs
Total	$	952		163		1,115

	For the three months ended June 30, 2013
	Pre-tax			Tax (expense) benefit		Net of tax		Statement of income line item
	(in thousands)
Reclassifications included in net income:
Realized gain on sale of available for sale investment securities	$	3,236		(1,189	)	2,047		Investment and other income
Valuation allowance	—			1,198		1,198		Provision for income taxes
Amortization of pension and postretirement benefits	(1,187		)	595		(592	)	Underwriting and distribution expense and Compensation and related costs
Total	$	2,049		604		2,653

	For the six months ended June 30, 2014
	Pre-tax			Tax (expense) benefit		Net of tax		Statement of income line item
	(in thousands)
Reclassifications included in net income:
Realized gain on sale of available for sale investment securities	$	2,586		(957	)	1,629		Investment and other income
Valuation allowance	—			951		951		Provision for income taxes
Amortization of pension and postretirement benefits	(1,004		)	372		(632	)	Underwriting and distribution expense and Compensation and related costs
Total	$	1,582		366		1,948

	For the six months ended June 30, 2013
	Pre-tax			Tax (expense) benefit		Net of tax		Statement of income line item
	(in thousands)
Reclassifications included in net income:
Realized gain on sale of available for sale investment securities	$	5,662		(2,080	)	3,582		Investment and other income
Valuation allowance	—			2,098		2,098		Provision for income taxes
Amortization of pension and postretirement benefits	(2,591		)	1,153		(1,438	)	Underwriting and distribution expense and Compensation and related costs
Total	$	3,071		1,171		4,242