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

NOTE 16 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes within each classification of AOCI, net of tax, for the years ended December 31, 2019, 2018, and 2017:

 

(dollars in thousands)

 

Unrealized

Gains and

Losses on

Available-

for-Sale

Debt

Securities

 

 

Unrealized

Gains and

Losses on

Held-to-

Maturity

Securities

 

 

Gains and

Losses on

Cash Flow

Hedges

 

 

Defined

Benefit

Pension

Plans

 

 

Total

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(37,348

)

 

$

(8,515

)

 

$

1,099

 

 

$

(186

)

 

$

(44,950

)

Other comprehensive income (loss) before

      reclassifications

 

 

94,964

 

 

 

6,419

 

 

 

(410

)

 

 

—

 

 

 

100,973

 

Amounts reclassified from AOCI to income (1)

 

 

(1,485

)

 

 

2,096

 

 

 

(449

)

 

 

22

 

 

 

184

 

Balance at end of period

 

$

56,131

 

 

$

—

 

 

$

240

 

 

$

(164

)

 

$

56,207

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(35,557

)

 

$

(12,107

)

 

$

(2,337

)

 

$

(271

)

 

$

(50,272

)

Amount reclassified from AOCI to retained

      earnings for cumulative effect of

      change in accounting principle

 

 

—

 

 

 

—

 

 

 

(52

)

 

 

—

 

 

 

(52

)

Amounts reclassified from AOCI to retained

      earnings related to the Tax Cuts and Jobs

      Act of 2017

 

 

(7,583

)

 

 

(2,600

)

 

 

(509

)

 

 

(59

)

 

 

(10,751

)

Other comprehensive income (loss) before

      reclassifications

 

 

7,454

 

 

 

4,514

 

 

 

3,884

 

 

 

—

 

 

 

15,852

 

Amounts reclassified from AOCI (1)

 

 

(1,662

)

 

 

1,678

 

 

 

113

 

 

 

144

 

 

 

273

 

Balance at end of period

 

$

(37,348

)

 

$

(8,515

)

 

$

1,099

 

 

$

(186

)

 

$

(44,950

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(39,012

)

 

$

(13,310

)

 

$

(6,715

)

 

$

(335

)

 

$

(59,372

)

Other comprehensive income (loss) before

      reclassifications

 

 

9,615

 

 

 

—

 

 

 

575

 

 

 

—

 

 

 

10,190

 

Amounts reclassified from AOCI (1)

 

 

(6,160

)

 

 

1,203

 

 

 

3,803

 

 

 

64

 

 

 

(1,090

)

Balance at end of period

 

$

(35,557

)

 

$

(12,107

)

 

$

(2,337

)

 

$

(271

)

 

$

(50,272

)

(1)

See table below for details about reclassifications.

The following tables summarize the significant amounts reclassified out of each component of AOCI for the years ended December 31, 2019, 2018, and 2017:

 

 

Amount Reclassified

 

Affected Line Item in the

Details about AOCI Components

from AOCI

 

Statement of Income

 

Years Ended December 31,

 

 

(dollars in thousands)

2019

 

2018

 

2017

 

 

Unrealized gains and losses on

   available-for-sale debt securities

$

1,923

 

$

2,060

 

$

9,135

 

Net securities gains

 

 

(438

)

 

(398

)

 

(2,975

)

Income tax (expense) benefit

 

$

1,485

 

$

1,662

 

$

6,160

 

Net income

Unrealized gains and losses on

   held-to-maturity securities

$

(2,812

)

$

(2,181

)

$

(1,830

)

Interest income (expense)

 

 

716

 

 

503

 

 

627

 

Income tax (expense) benefit

 

$

(2,096

)

$

(1,678

)

$

(1,203

)

Net income

Gains and losses on cash flow hedges

   Interest rate contracts

$

596

 

$

(150

)

$

(6,135

)

Interest income (expense)

 

 

(147

)

 

37

 

 

2,332

 

Income tax (expense) benefit

 

$

449

 

$

(113

)

$

(3,803

)

Net income

Amortization of defined benefit

   pension items

 

 

 

 

 

 

 

 

 

 

Actuarial gains (losses)

$

(30

)

$

(191

)

$

(159

)

Salaries and employee benefits

 

 

8

 

 

47

 

 

95

 

Income tax (expense) benefit

 

$

(22

)

$

(144

)

$

(64

)

Net income

 

 

 

 

 

 

 

 

 

 

 

Total reclassifications for the period

$

(184

)

$

(273

)

$

1,090

 

Net income