Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Benefit plans

Schedule of amounts recognized in other comprehensive income from benefit plans

	Pension Benefits						Other Benefits
(dollars in thousands)	2019		2018		2017		2019		2018		2017
Amounts arising during the year:
Net (gain) loss on pension assets	$	(16,278)	$	12,209	$	(8,619)	$	—	$	—	$	—
Net loss (gain) on pension obligations		21,512		(6,619)		9,757		540		(2,755)		(34)
Reclassification adjustments recognized as components of net periodic benefit cost during the year:
Net (gain) loss		(6,995)		(7,315)		(8,625)		385		—		—
Prior service credit		—		—		—		429		429		429
Amount recognized in other comprehensive income	$	(1,761)	$	(1,725)	$	(7,487)	$	1,354	$	(2,326)	$	395

Schedule of amounts within accumulated other comprehensive income not yet recognized in net periodic benefit cost

	Pension Benefits				Other Benefits
(dollars in thousands)	2019		2018		2019		2018
Net actuarial loss (gain)	$	40,061	$	41,822	$	(1,582)	$	(2,507)
Prior service credit		—		—		(51)		(480)
Total, pretax effect		40,061		41,822		(1,633)		(2,987)
Tax impact		(10,786)		(11,260)		440		804
Ending balance in accumulated other comprehensive loss	$	29,275	$	30,562	$	(1,193)	$	(2,183)

Schedule of amounts within accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost

	Pension		Other
(dollars in thousands)	Benefits		Benefits
Amortization of prior service credit	$	—	$	(51)
Amortization of net actuarial loss (gain)		5,753		(103)
Total to be recognized in 2020	$	5,753	$	(154)

Summary of changes to projected or accumulated benefit obligation

	Pension Benefits				Other Benefits
(dollars in thousands)	2019		2018		2019		2018
Benefit obligation at beginning of year	$	199,072	$	212,981	$	19,716	$	21,449
Service cost		14		696		710		750
Interest cost		8,261		7,362		808		739
Actuarial loss (gain)		22,573		(6,619)		540		(2,755)
Curtailment gain		(1,061)		—		—		—
Benefit payments		(15,574)		(15,348)		(469)		(467)
Benefit obligation at end of year	$	213,285	$	199,072	$	21,305	$	19,716

Summary of changes to fair value of plan assets

	Pension Benefits				Other Benefits
(dollars in thousands)	2019		2018		2019		2018
Fair value of plan assets at beginning of year	$	99,581	$	114,220	$	—	$	—
Actual return on plan assets		20,863		(6,936)		—		—
Benefit payments from trust		(7,785)		(7,703)		—		—
Fair value of plan assets at end of year	$	112,659	$	99,581	$	—	$	—

Summary of funded status of plans

	Pension Benefits				Other Benefits
(dollars in thousands)	2019		2018		2019		2018
Pension assets for overfunded plans	$	16,291	$	8,702	$	—	$	—
Pension liabilities for underfunded plans		(116,917)		(108,193)		(21,305)		(19,716)
Funded status	$	(100,626)	$	(99,491)	$	(21,305)	$	(19,716)

Schedule of projected and accumulated benefit obligation and fair value of plan assets

	Funded Pension Plan				Unfunded Pension Plans				Total Pension Plans
(dollars in thousands)	2019		2018		2019		2018		2019		2018
Projected benefit obligation	$	96,368	$	90,879	$	116,917	$	108,193	$	213,285	$	199,072
Accumulated benefit obligation		96,368		90,879		116,834		106,357		213,202		197,236
Fair value of plan assets		112,659		99,581		—		—		112,659		99,581
Overfunded (underfunded) portion of PBO/ABO		16,291		8,702		(116,917)		(108,193)		(100,626)		(99,491)

Summary of change in net actuarial loss and amortization

			Income
			Tax
	Pre-tax		Benefit		Net of
(dollars in thousands)	Amount		(Expense)		Tax
Accumulated other comprehensive loss at December 31, 2018	$	(180,915)	$	48,720	$	(132,195)
Year ended December 31, 2019
Pension and other benefits:
Net actuarial losses arising during the year		(5,774)		1,555		(4,219)
Prior service credit		(429)		115		(314)
Amortization of net loss included in net income		6,610		(1,780)		4,830
Net change in pension and other benefits		407		(110)		297
Investment securities:
Unrealized net gains arising during the year		134,343		(36,178)		98,165
Reclassification of net losses to net income:
Investment securities losses, net		2,715		(731)		1,984
Net change in investment securities		137,058		(36,909)		100,149
Other comprehensive income		137,465		(37,019)		100,446
Accumulated other comprehensive loss at December 31, 2019	$	(43,450)	$	11,701	$	(31,749)

			Income
			Tax
	Pre-tax		Benefit		Net of
(dollars in thousands)	Amount		(Expense)		Tax
Accumulated other comprehensive loss at December 31, 2017	$	(159,423)	$	63,040	$	(96,383)
Year ended December 31, 2018
Early adoption of ASU No. 2018-02		—		(20,068)		(20,068)
Pension and other benefits:
Net actuarial losses arising during the year		(2,835)		763		(2,072)
Prior service credit		(429)		116		(313)
Amortization of net loss included in net income		7,315		(1,970)		5,345
Net change in pension and other benefits		4,051		(1,091)		2,960
Investment securities:
Unrealized net losses arising during the year		(43,545)		11,686		(31,859)
Reclassification of net gains to net income:
OTTI losses on available-for-sale debt securities, net		24,085		(6,485)		17,600
Net change in investment securities		(19,460)		5,201		(14,259)
Cash flow derivative hedges:
Unrealized net gains on cash flow derivative hedges arising during the year		1,475		(397)		1,078
Reclassification of net gains to net income:
Other noninterest expense		(7,558)		2,035		(5,523)
Net change in cash flow derivative hedges		(6,083)		1,638		(4,445)
Other comprehensive loss		(21,492)		5,748		(15,744)
Accumulated other comprehensive loss at December 31, 2018	$	(180,915)	$	48,720	$	(132,195)

			Income
			Tax
	Pre-tax		Benefit		Net of
(dollars in thousands)	Amount		(Expense)		Tax
Accumulated other comprehensive loss at December 31, 2016	$	(145,472)	$	57,461	$	(88,011)
Year ended December 31, 2017
Pension and other benefits:
Net actuarial losses arising during the year		(1,104)		436		(668)
Prior service credit		(429)		170		(259)
Amortization of net loss included in net income		8,625		(3,407)		5,218
Net change in pension and other benefits		7,092		(2,801)		4,291
Investment securities:
Unrealized net losses arising during the year		(23,516)		9,357		(14,159)
Net change in investment securities		(23,516)		9,357		(14,159)
Cash flow derivative hedges:
Unrealized net gains on cash flow derivative hedges arising during the year		2,473		(977)		1,496
Net change in cash flow derivative hedges		2,473		(977)		1,496
Other comprehensive loss		(13,951)		5,579		(8,372)
Accumulated other comprehensive loss at December 31, 2017	$	(159,423)	$	63,040	$	(96,383)

Schedule of components of net periodic benefit cost

	Income line item where recognized in	Pension Benefits						Other Benefits
(dollars in thousands)	the consolidated statements of income	2019		2018		2017		2019		2018		2017
Service cost	Salaries and employee benefits	$	14	$	696	$	629	$	710	$	750	$	738
Interest cost	Other noninterest expense		8,261		7,362		8,297		808		739		776
Expected return on plan assets	Other noninterest expense		(4,585)		(5,273)		(5,003)		—		—		—
Prior service credit	Other noninterest expense		—		—		—		(429)		(429)		(429)
Recognized net actuarial loss (gain)	Other noninterest expense		6,995		7,315		8,625		(385)		—		—
Total net periodic benefit cost		$	10,685	$	10,100	$	12,548	$	704	$	1,060	$	1,085

Schedule of funded pension benefit amounts included in pension benefits

	Funded Pension Benefits
(dollars in thousands)	2019		2018		2017
Interest cost	$	3,808	$	3,420	$	3,922
Expected return on plan assets		(4,585)		(5,273)		(5,003)
Recognized net actuarial loss		3,714		2,600		4,316
Total net periodic benefit cost	$	2,937	$	747	$	3,235

Schedule of assumptions used to determine benefit obligations and net periodic benefit cost

The following weighted-average assumptions were used to determine benefit obligations at December 31, 2019 and 2018:

	FHI ERP Pension Benefits				SERP Pension Benefits				Other Benefits
	2019		2018		2019		2018		2019		2018
Discount rate	3.16	%	4.30	%	3.16	%	4.30	%	3.16	%	4.30	%
Rate of compensation increase	NA		NA		4.00	%	4.00	%	NA		NA

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31, 2019, 2018 and 2017 were as follows:

	FHI ERP Pension Benefits						SERP Pension Benefits						Other Benefits
	2019		2018		2017		2019		2018		2017		2019		2018		2017
Discount rate	4.30	%	3.51	%	4.05	%	4.30	%	3.51	%	4.05	%	4.30	%	3.51	%	4.05	%
Expected long-term return on plan assets	4.75	%	4.75	%	4.75	%	NA		NA		NA		NA		NA		NA
Rate of compensation increase	NA		NA		NA		4.00	%	4.00	%	4.00	%	NA		NA		NA

Schedule of assumed healthcare cost trend rates

	2019		2018		2017
Healthcare cost trend rate assumed for next year	6.50	%	7.00	%	7.00	%
Rate to which the cost trend is assumed to decline (the ultimate trend rate)	5.00	%	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2026		2026		2026

Schedule of pre-tax effect of one percentage point change in assumed healthcare cost trend rates

	One Percentage-		One Percentage-
(dollars in thousands)	Point Increase		Point Decrease
Effect on 2019 total of service and interest cost components	$	75	$	(67)
Effect on postretirement benefit obligation at December 31, 2019		353		(328)

Schedule of allocation of employee retirement plan assets

	Asset Allocation
	2019		2018
Equity securities	31	%	29	%
Debt securities	66	%	69	%
Other securities	3	%	2	%
Total	100	%	100	%

Schedule of target allocation of employee retirement plan assets

	Target
	Allocation
Equity securities	30	%
Debt securities	68	%
Other securities	2	%

Schedule of expected future benefit payments

	Pension		Other
(dollars in thousands)	Benefits		Benefits
2020	$	16,120	$	1,205
2021		15,902		1,315
2022		15,580		1,410
2023		15,176		1,487
2024		14,739		1,546
2025 to 2029		69,769		8,085

Schedule of fair value of employee retirement plan assets

	December 31, 2019
	Quoted Prices		Significant
	In Active		Other		Significant
	Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(dollars in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Asset classes:
Cash and cash equivalents	$	2,824	$	—	$	—	$	2,824
Fixed income - U.S. Treasury securities		—		4,053		—		4,053
Fixed income - U.S. government agency securities		—		3,504		—		3,504
Fixed income - U.S. corporate securities		—		58,808		—		58,808
Fixed income - municipal securities		—		484		—		484
Fixed income - mutual funds		6,204		—		—		6,204
Fixed income - international securities		1,544		—		—		1,544
Equity - large-cap exchange-traded funds		23,278		—		—		23,278
Equity - mid-cap exchange-traded funds		3,379		—		—		3,379
Equity - small-cap exchange-traded funds		1,645		—		—		1,645
Equity - international funds		6,936		—		—		6,936
Total	$	45,810	$	66,849	$	—	$	112,659

	December 31, 2018
	Quoted Prices		Significant
	In Active		Other		Significant
	Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(dollars in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Asset classes:
Cash and cash equivalents	$	2,428	$	—	$	—	$	2,428
Fixed income - U.S. Treasury securities		—		4,450		—		4,450
Fixed income - U.S. government agency securities		—		3,565		—		3,565
Fixed income - U.S. corporate securities		—		53,721		—		53,721
Fixed income - municipal securities		—		451		—		451
Fixed income - mutual funds		6,272		—		—		6,272
Equity - large-cap mutual funds		8,831		—		—		8,831
Equity - large-cap exchange-traded funds		10,482		—		—		10,482
Equity - mid-cap exchange-traded funds		2,544		—		—		2,544
Equity - small-cap exchange-traded funds		1,176		—		—		1,176
Equity - international funds		5,661		—		—		5,661
Total	$	37,394	$	62,187	$	—	$	99,581

Pension and other benefits, net actuarial losses arising during the year

Benefit plans

Summary of change in net actuarial loss and amortization

	Pension Benefits				Other Benefits
(dollars in thousands)	2019		2018		2019		2018
Net actuarial loss (gain) at beginning of year	$	41,822	$	43,547	$	(2,507)	$	248
Amortization cost		(6,995)		(7,315)		385		—
Liability loss (gain)		21,512		(6,619)		540		(2,755)
Asset (gain) loss		(16,278)		12,209		—		—
Net actuarial loss (gain) at end of year	$	40,061	$	41,822	$	(1,582)	$	(2,507)