Comprehensive Income and Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (AOCI)

The following table presents the changes in the Company’s accumulated other comprehensive income (AOCI) for the three months ended June 30, 2013.

	Changes in Net Unrealized Gains on Investment Securities Having No Credit Losses Recognized in the Consolidated Statement of Income			Changes in Net Unrealized Gains on Investment Securities Having Credit Losses Recognized in the Consolidated Statement of Income		Total Accumulated Other Comprehensive Income
	(in thousands)
Balance at March 31, 2013	$	2,421		$	13	$	2,434
Other comprehensive income (loss) before reclassifications		(4,448	)		—		(4,448	)
Amounts reclassified from accumulated other comprehensive income		388			—		388	)
Net current-period other comprehensive income (loss)		(4,060	)		—		(4,060	)
Balance at June 30, 2013	$	(1,639	)	$	13	$	(1,626	)

The following table presents the changes in the Company’s accumulated other comprehensive income (AOCI) for the six months ended June 30, 2013.

	Changes in Net Unrealized Gains on Investment Securities Having No Credit Losses Recognized in the Consolidated Statement of Income			Changes in Net Unrealized Gains on Investment Securities Having Credit Losses Recognized in the Consolidated Statement of Income		Total Accumulated Other Comprehensive Income
	(in thousands)
Balance at December 31, 2012	$	2,966		$	13	$	2,979
Other comprehensive income (loss) before reclassifications		(4,867	)		—		(4,867	)
Amounts reclassified from accumulated other comprehensive income		262			—		262	)
Net current-period other comprehensive income (loss)		(4,605	)		—		(4,605	)
Balance at June 30, 2013	$	(1,639	)	$	13	$	(1,626	)

Components of Pretax and Related Income Tax Expense (Benefit)

The following table presents the pretax and related income tax expense (benefit) components of the amounts reclassified from the Company’s accumulated other comprehensive income to the Company’s consolidated statement of income for the three and six months ended June 30, 2013 and 2012.

	Three Months Ended June 30,					Six Months Ended June 30,
	2013		2012			2013		2012
	(in thousands)					(in thousands)
Reclassification adjustments related to unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	597	$	(63	)	$	403	$	(1,136	)
Income tax expense (2)		209		(22	)		141		(397	)
Net of taxes	$	388	$	(41	)	$	262	$	(739	)
Reclassification adjustments related to unrealized gains on investment securities:
Having credit losses recognized in the consolidated statement of income (1)	$	—	$	—		$	—	$	1
Income tax expense (2)		—		—			—		—
Net of taxes	$	—	$	—		$	—	$	1
Total reclassifications		597		(63	)		403		(1,135	)
Total income tax expense		209		(22	)		141		(397	)
Net of taxes	$	388	$	(41	)	$	262	$	(738	)

(1) (Increases) decreases in net realized gains on investments on the consolidated statement of income.

(2) (Increases) decreases in income tax expense on the consolidated statement of income.

Components of Other Comprehensive Income (Loss) and Related Income Tax Expense (Benefits)

The following table presents the pretax components of other comprehensive income (loss) and related income tax expense for the three and six months ended June 30, 2013 and 2012.

	Three Months Ended June 30,					Six Months Ended June 30,
	2013			2012		2013			2012
	(in thousands)					(in thousands)
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(6,248	)	$	774	$	(7,085	)	$	691
Income tax expense		(2,188	)		271		(2,480	)		242
Total other comprehensive income (loss), net of taxes	$	(4,060	)	$	503	$	(4,605	)	$	449
Changes in net unrealized gains on investment securities:
Having credit losses recognized in the consolidated statement of income	$	—		$	—	$	—		$	1
Income tax expense		—			—		—			—
Total other comprehensive income (loss), net of taxes	$	—		$	—	$	—		$	1
Total other comprehensive income/(loss)		(6,248	)		774		(7,085	)		692
Total Income tax expense		(2,188	)		271		(2,480	)		242
Total other comprehensive income (loss), net of taxes	$	(4,060	)	$	503	$	(4,605	)	$	450