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Comprehensive Income/(Loss) (Tables)
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Components of Accumulated Other Comprehensive Income

The activity in accumulated other comprehensive income for the years ended December 31, 2019, 2018 and 2017 is as follows:

 

 

 

Accumulated Other Comprehensive Income/(Loss) (1)

 

(in thousands)

 

Defined

Benefit

Plans

 

 

Unrealized Gains

(Losses) on Debt

Securities

Available-for-

Sale

 

 

Unrealized Gains

on Debt Securities

Transferred from

Available-for-

Sale

to Held-to-

Maturity

 

 

Total

 

Balance at December 31, 2018

 

$

(16,542

)

 

$

(21,522

)

 

$

193

 

 

$

(37,871

)

Other comprehensive income/(loss) before

   reclassifications

 

 

(3,239

)

 

 

40,341

 

 

 

 

 

 

37,102

 

Amounts reclassified from accumulated other

   comprehensive income/(loss)

 

 

2,313

 

 

 

(175

)

 

 

(168

)

 

 

1,970

 

Period change

 

 

(926

)

 

 

40,166

 

 

 

(168

)

 

 

39,072

 

Balance at December 31, 2019

 

$

(17,468

)

 

$

18,644

 

 

$

25

 

 

$

1,201

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2017

 

$

(18,626

)

 

$

(13,250

)

 

$

381

 

 

$

(31,495

)

Other comprehensive income/(loss) before

   reclassifications

 

 

(4,277

)

 

 

(7,220

)

 

 

 

 

 

(11,497

)

Acquired FFKT post-retirement medical benefit plan

 

 

4,235

 

 

 

 

 

 

 

 

 

4,235

 

Amounts reclassified from accumulated other

   comprehensive income/(loss)

 

 

2,126

 

 

 

11

 

 

 

(188

)

 

 

1,949

 

Period change

 

 

2,084

 

 

 

(7,209

)

 

 

(188

)

 

 

(5,313

)

Adoption of Accounting Standard ASU 2016-01 (2)

 

 

-

 

 

 

(1,063

)

 

 

-

 

 

 

(1,063

)

Balance at December 31, 2018

 

$

(16,542

)

 

$

(21,522

)

 

$

193

 

 

$

(37,871

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2016

 

$

(17,758

)

 

$

(9,890

)

 

$

522

 

 

$

(27,126

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income/(loss) before

   reclassifications

 

 

239

 

 

 

(985

)

 

 

 

 

 

(746

)

Amounts reclassified from accumulated

   other comprehensive income/(loss)

 

 

2,194

 

 

 

(27

)

 

 

(209

)

 

 

1,958

 

Period change

 

 

2,433

 

 

 

(1,012

)

 

 

(209

)

 

 

1,212

 

Adoption of accounting standard ASU 2018-02

 

 

(3,301

)

 

 

(2,348

)

 

 

68

 

 

 

(5,581

)

Balance at December 31, 2017

 

$

(18,626

)

 

$

(13,250

)

 

$

381

 

 

$

(31,495

)

 

(1)

All amounts are net of tax. Related income tax expense or benefit is calculated using a combined Federal and State income tax rate approximating 23% in 2019 and 2018 and 37% for 2017.

(2)

See Note 1, Summary of Significant Policies for additional information about Wesbanco’s adoption of ASU 2016-01.

Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income/(Loss)

 

Details about Accumulated Other Comprehensive

Income/(Loss) Components

 

Amounts Reclassified from

Accumulated Other

Comprehensive Income/

(Loss) For the Years Ended

December 31,

 

 

Affected Line Item in the Statement of Net

Income

(in thousands)

 

2019

 

 

2018

 

 

2017

 

 

 

Securities available-for-sale (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net securities (gains) losses reclassified into

   earnings

 

$

(227

)

 

$

15

 

 

$

(42

)

 

Net securities gains (Non-interest income)

Related income tax expense (benefit)

 

 

52

 

 

 

(4

)

 

 

15

 

 

Provision for income taxes

Net effect on accumulated other comprehensive

   income/(loss) for the period

 

 

(175

)

 

 

11

 

 

 

(27

)

 

 

Securities held-to-maturity (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of unrealized gain transferred

   from available-for-sale

 

 

(222

)

 

 

(244

)

 

 

(326

)

 

Interest and dividends on securities (Interest and

   dividend income)

Related income tax expense

 

 

54

 

 

 

56

 

 

 

117

 

 

Provision for income taxes

Net effect on accumulated other comprehensive

   income/(loss) for the period

 

 

(168

)

 

 

(188

)

 

 

(209

)

 

 

Defined benefit plans (2):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of net loss and prior service

   costs

 

 

3,042

 

 

 

2,948

 

 

 

3,247

 

 

Employee benefits (Non-interest expense)

Related income tax benefit

 

 

(729

)

 

 

(822

)

 

 

(1,053

)

 

Provision for income taxes

Net effect on accumulated other comprehensive

   income/(loss) for the period

 

 

2,313

 

 

 

2,126

 

 

 

2,194

 

 

 

Total reclassifications for the period

 

$

1,970

 

 

$

1,949

 

 

$

1,958

 

 

 

 

(1)

For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income see Note 4, “Securities.”

(2)

Included in the computation of net periodic pension cost. See Note 13, “Employee Benefit Plans” for additional detail.