Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2019

The activity in accumulated other comprehensive loss is presented in the tables below (in thousands). All amounts are shown net of tax, which is calculated using a combined federal and state income tax rate approximating 23%.



	Accumulated Other Comprehensive (Loss) Income
				Unrealized
				Gains (Losses) on
	Defined Benefit			Securities
	Pension Plans			Available-for-Sale			Total

Balance at December 31, 2018	$	(5,871	)	$	(8,611	)	$	(14,482	)

Other comprehensive income before reclassifications	—			8,698			8,698
Amounts reclassified from other comprehensive loss	—			(67		)	(67		)
	—			8,631			8,631

Balance at March 31, 2019	$	(5,871	)	$	20		$	(5,851	)

Balance at December 31, 2017	$	(5,033	)	$	(611	)	$	(5,644	)

Other comprehensive loss before reclassifications	—			(8,218		)	(8,218		)
Amounts reclassified from other comprehensive loss	—			—			—
	—			(8,218		)	(8,218		)

Adoption of new accounting pronouncement	—			(2,657		)	(2,657		)

Balance at March 31, 2018	$	(5,033	)	$	(11,486	)	$	(16,519	)

As a result of the adoption of ASU 2016-01, "Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities," the Company reclassified $2.7 million of unrealized gains and losses net of tax, relating to its equity and perpetual preferred securities, from other comprehensive income to retained earnings on January 1, 2018.



	Amount reclassified from Other Comprehensive Loss
	Three months ended					Affected line item
	March 31,					in the Statements
	2019			2018		of Income

Securities available-for-sale:
Net securities gains reclassified into earnings	$	88		$	—	Gains on sale of investment securities
Related income tax expense	(21		)	—		Income tax expense
Net effect on accumulated other comprehensive loss	$	67		$	—