Components of Accumulated Other Comprehensive Income (Loss) |
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(in thousands)
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Available for Sale Securities
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HTM Securities Transferred from AFS
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Employee Benefit Plans
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Cash Flow Hedges
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Total
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Balance, December 31, 2013
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$
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8,263
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$
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(21,189)
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$
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(22,453)
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$
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—
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$
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(35,379)
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Net change in unrealized gain (loss)
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15,413
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—
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—
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(592)
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14,821
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Reclassification of net loss realized
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and included in earnings
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—
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—
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390
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—
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390
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Valuation adjustment for employee benefit plans
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—
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—
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(41,244)
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—
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(41,244)
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Amortization of unrealized net loss on securities
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transferred to held to maturity
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—
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3,297
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—
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—
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3,297
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Income tax expense (benefit)
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5,675
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1,182
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(14,681)
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(217)
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(8,041)
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Balance, December 31, 2014
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$
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18,001
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$
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(19,074)
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$
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(48,626)
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$
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(375)
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$
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(50,074)
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Net change in unrealized (loss) gain
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(21,581)
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—
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—
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311
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(21,270)
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Reclassification of net (gain) loss realized
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and included in earnings
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(165)
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—
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3,175
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—
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3,010
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Valuation adjustment for employee benefit plans
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—
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—
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(33,971)
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—
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(33,971)
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Amortization of unrealized net loss on securities
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transferred to held to maturity
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—
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3,530
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—
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—
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3,530
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Income tax (benefit) expense
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(8,013)
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1,251
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(11,532)
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114
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(18,180)
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Balance, December 31, 2015
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$
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4,268
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$
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(16,795)
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$
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(67,890)
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$
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(178)
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$
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(80,595)
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Net change in unrealized loss
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(49,839)
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—
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—
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(7,507)
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(57,346)
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Reclassification of net (gain) loss realized
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and included in earnings
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(1,912)
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—
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5,928
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—
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4,016
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Valuation adjustment for employee benefit plans
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—
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—
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(12,748)
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—
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(12,748)
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Amortization of unrealized net loss on securities
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transferred to held to maturity
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—
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3,830
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—
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—
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3,830
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Income tax (benefit) expense
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(18,804)
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1,427
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(2,209)
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(2,725)
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(22,311)
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Balance, December 31, 2016
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$
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(28,679)
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$
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(14,392)
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$
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(72,501)
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$
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(4,960)
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$
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(120,532)
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Line Items in Consolidated Income Statements Affected by Amounts Reclassified from Accumulated Other Comprehensive Income |
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Amount reclassified from AOCI (a)
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Year Ended December 31,
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Increase (decrease) in affected line
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(in thousands)
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2016
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2015
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item in the income statement
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Gain on sale of AFS securities
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$
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1,912
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$
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165
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Securities gains
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Tax effect
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(694)
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(58)
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Income taxes
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Net of tax
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1,218
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107
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Net income
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Amortization of unrealized net loss on
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securities transferred to HTM
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$
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(3,830)
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$
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(3,530)
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Interest income
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Tax effect
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1,427
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1,236
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Income taxes
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Net of tax
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(2,403)
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(2,294)
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Net income
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Amortization of defined benefit pension and
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post-retirement items (b)
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$
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(5,928)
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$
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(3,175)
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Employee benefits expense
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Tax effect
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1,920
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1,111
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Income taxes
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Net of tax
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(4,008)
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(2,064)
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Net income
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Total reclassifications, net of tax
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$
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(5,193)
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$
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(4,251)
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Net income
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(b)
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These AOCI components are included in the computation of net periodic pension and post-retirement cost that is reported with employee benefits expense (see footnote 15 for additional details). |
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Compliance with Regulatory Capital Requirements |
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Actual
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Required for Minimum Capital Adequacy
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Required To Be Well Capitalized
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($ in thousands)
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Amount
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Ratio %
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Amount
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Ratio %
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Amount
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Ratio %
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At December 31, 2016
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Tier 1 leverage capital
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Company
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$
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2,184,812
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9.56
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$
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914,520
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4.00
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$
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1,143,150
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5.00
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Whitney Bank
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2,011,719
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8.83
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911,091
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4.00
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1,138,864
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5.00
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Common equity tier 1 (to risk weighted assets)
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Company
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$
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2,184,812
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11.26
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$
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873,192
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4.50
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$
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1,261,277
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6.50
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Whitney Bank
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2,011,719
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10.39
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871,361
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4.50
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1,258,633
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6.50
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Tier 1 capital (to risk weighted assets)
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Company
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$
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2,184,812
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11.26
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$
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1,164,256
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6.00
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$
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1,552,341
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8.00
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Whitney Bank
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2,011,719
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10.39
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1,161,815
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6.00
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1,549,086
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8.00
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Total capital (to risk weighted assets)
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Company
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$
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2,564,230
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13.21
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$
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1,552,341
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8.00
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$
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1,940,427
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10.00
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Whitney Bank
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2,241,137
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11.57
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1,549,086
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8.00
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1,936,358
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10.00
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At December 31, 2015
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Tier 1 leverage capital
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Company
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$
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1,844,992
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8.55
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$
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863,289
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4.00
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$
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1,079,111
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5.00
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Whitney Bank
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1,965,332
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9.16
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858,551
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4.00
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1,073,189
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5.00
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Common equity tier 1 (to risk weighted assets)
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Company
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$
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1,844,992
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9.96
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$
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833,216
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4.50
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$
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1,203,534
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6.50
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Whitney Bank
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1,965,332
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10.64
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830,985
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4.50
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1,200,312
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6.50
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Tier 1 capital (to risk weighted assets)
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Company
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$
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1,844,992
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9.96
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$
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1,110,954
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6.00
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$
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1,481,272
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8.00
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Whitney Bank
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1,965,332
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10.64
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1,107,980
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6.00
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1,477,306
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8.00
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Total capital (to risk weighted assets)
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Company
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$
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2,195,913
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11.86
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$
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1,481,272
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8.00
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$
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1,851,590
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10.00
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Whitney Bank
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2,166,253
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11.73
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1,477,306
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8.00
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1,846,633
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10.00
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