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Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Schedule of AOCI

The following table summarizes the changes within each classification of AOCI, net of tax, for the three and nine months ended September 30, 2018 and 2017:

 

 

 

Unrealized Gains

 

 

Unrealized Gains

 

 

Gains and

 

 

Defined

 

 

 

 

 

 

 

and Losses on

 

 

and Losses on

 

 

Losses on

 

 

Benefit

 

 

 

 

 

 

 

Available-for-Sale

 

 

Held-to-Maturity

 

 

Cash Flow

 

 

Pension

 

 

 

 

 

(dollars in thousands)

 

Debt Securities

 

 

Securities

 

 

Hedges

 

 

Plans

 

 

Total

 

Three Months Ended September 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(59,356

)

 

$

(9,335

)

 

$

2,277

 

 

$

(289

)

 

$

(66,703

)

Other comprehensive income (loss) before

   reclassifications

 

 

(13,989

)

 

 

-

 

 

 

548

 

 

 

-

 

 

 

(13,441

)

Amounts reclassified from AOCI to income (1)

 

 

(117

)

 

 

482

 

 

 

(171

)

 

 

20

 

 

 

214

 

Balance at end of period

 

$

(73,462

)

 

$

(8,853

)

 

$

2,654

 

 

$

(269

)

 

$

(79,930

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(12,457

)

 

$

(12,717

)

 

$

(5,645

)

 

$

(301

)

 

$

(31,120

)

Other comprehensive income (loss) before

   reclassifications

 

 

(2,531

)

 

 

-

 

 

 

134

 

 

 

-

 

 

 

(2,397

)

Amounts reclassified from AOCI to income (1)

 

 

(1,883

)

 

 

300

 

 

 

887

 

 

 

16

 

 

 

(680

)

Balance at end of period

 

$

(16,871

)

 

$

(12,417

)

 

$

(4,624

)

 

$

(285

)

 

$

(34,197

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(35,557

)

 

$

(12,107

)

 

$

(2,337

)

 

$

(271

)

 

$

(50,272

)

Other comprehensive income (loss) before

   reclassifications

 

 

(28,475

)

 

 

4,514

 

 

 

5,135

 

 

 

-

 

 

 

(18,826

)

Amounts reclassified from AOCI to income (1)

 

 

(1,847

)

 

 

1,340

 

 

 

417

 

 

 

61

 

 

 

(29

)

Amount reclassified from AOCI to retained

   earnings for cumulative effect of change in

   accounting  principle (2)

 

 

-

 

 

 

-

 

 

 

(52

)

 

 

-

 

 

 

(52

)

Amounts reclassified from AOCI to retained

   earnings related to the Tax Cuts and Jobs

   Act of 2017 (3)

 

 

(7,583

)

 

 

(2,600

)

 

 

(509

)

 

 

(59

)

 

 

(10,751

)

Balance at end of period

 

$

(73,462

)

 

$

(8,853

)

 

$

2,654

 

 

$

(269

)

 

$

(79,930

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(39,012

)

 

$

(13,310

)

 

$

(6,715

)

 

$

(335

)

 

$

(59,372

)

Other comprehensive income (loss) before

   reclassifications

 

 

26,928

 

 

 

-

 

 

 

(986

)

 

 

-

 

 

 

25,942

 

Amounts reclassified from AOCI to income (1)

 

 

(4,787

)

 

 

893

 

 

 

3,077

 

 

 

50

 

 

 

(767

)

Balance at end of period

 

$

(16,871

)

 

$

(12,417

)

 

$

(4,624

)

 

$

(285

)

 

$

(34,197

)

 

(1)

See table below for details about reclassifications to income.

(2)

See Note 3 for details about reclassification from AOCI to beginning retained earnings resulting from the adoption of ASU 2017-12.

(3)

See Note 3 for details about reclassification from AOCI to beginning retained earnings resulting from the adoption of ASU 2018-02.
Reclassifications out of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the significant amounts reclassified out of each component of AOCI for the three months ended September 30, 2018 and 2017:

 

 

 

Amount Reclassified

 

 

Affected Line Item in the

Details about AOCI Components

 

from AOCI

 

 

Statement of Income

 

 

Three Months Ended

 

 

 

 

 

September 30,

 

 

 

(dollars in thousands)

 

2018

 

 

2017

 

 

 

Unrealized gains and losses on

   available-for-sale debt securities

 

$

135

 

 

$

2,972

 

 

Net securities gains

 

 

 

(18

)

 

 

(1,089

)

 

Income tax (expense) benefit

 

 

$

117

 

 

$

1,883

 

 

Net income

Unrealized gains and losses on

   held-to-maturity securities

 

$

(628

)

 

$

(456

)

 

Interest income (expense)

 

 

 

146

 

 

 

156

 

 

Income tax (expense) benefit

 

 

$

(482

)

 

$

(300

)

 

Net income

Gains and losses on cash flow hedges

   Interest rate contracts

 

$

226

 

 

$

(1,429

)

 

Interest income (expense)

 

 

 

(55

)

 

 

542

 

 

Income tax (expense) benefit

 

 

$

171

 

 

$

(887

)

 

Net income

Amortization of defined benefit

   pension items Actuarial gains (losses)

 

$

(27

)

 

$

(27

)

 

Salaries and employee benefits

 

 

 

7

 

 

 

11

 

 

Income tax (expense) benefit

 

 

$

(20

)

 

$

(16

)

 

Net income

Total reclassifications for the period

 

$

(214

)

 

$

680

 

 

Net income

 

The following table summarizes the significant amounts reclassified out of each component of AOCI for the nine months ended September 30, 2018 and 2017:

 

 

 

Amount Reclassified

 

 

Affected Line Item in the

Details about AOCI Components

 

from AOCI

 

 

Statement of Income

 

 

Nine Months Ended

 

 

 

 

 

September 30,

 

 

 

(dollars in thousands)

 

2018

 

 

2017

 

 

 

Unrealized gains and losses on

   available-for-sale debt securities

 

$

2,417

 

 

$

7,547

 

 

Net securities gains

 

 

 

(570

)

 

 

(2,760

)

 

Income tax (expense) benefit

 

 

$

1,847

 

 

$

4,787

 

 

Net income

Unrealized gains and losses on

   held-to-maturity securities

 

$

(1,740

)

 

$

(1,358

)

 

Interest income/(expense)

 

 

 

400

 

 

 

465

 

 

Income tax (expense) benefit

 

 

$

(1,340

)

 

$

(893

)

 

Net income

Gains and losses on cash flow hedges

   Interest rate contracts

 

$

(553

)

 

$

(4,962

)

 

Interest income/(expense)

 

 

 

136

 

 

 

1,885

 

 

Income tax (expense) benefit

 

 

$

(417

)

 

$

(3,077

)

 

Net income

Amortization of defined benefit

   pension items Actuarial gains/(losses)

 

$

(81

)

 

$

(81

)

 

Salaries and employee benefits

 

 

 

20

 

 

 

31

 

 

Income tax (expense) benefit

 

 

$

(61

)

 

$

(50

)

 

Net income

Total reclassifications for the period

 

$

29

 

 

$

767

 

 

Net income