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Other Comprehensive (Loss) Income
 9 Months Ended
Sep. 30, 2013
Other Comprehensive Income (Loss) [Abstract]  
Other Comprehensive (Loss) Income

 

NOTE 6 – OTHER COMPREHENSIVE (LOSS) INCOME

 

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income.  Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income.

 

 

The components of other comprehensive (loss) income, both before tax and net of tax, are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2013

 

Three Months Ended September 30, 2012

 

Before Tax

 

Tax Effect

 

Net of Tax

 

Before Tax

 

Tax Effect

 

Net of Tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains on available for sale securities

$
430 

 

$
173 

 

$
257 

 

$
693 

 

$
277 

 

$
416 

Reclassification adjustment for net gains on securities transactions included in net income

 

 -

 

 

 -

 

 

 -

 

 
(569)

 

 
(228)

 

 
(341)

Total other comprehensive income

$
430 

 

$
173 

 

$
257 

 

$
124 

 

$
49 

 

$
75 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2013

 

Nine Months Ended September 30, 2012

 

Before Tax

 

Tax Effect

 

Net of Tax

 

Before Tax

 

Tax Effect

 

Net of Tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive (loss) income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized (losses) gains on available for sale securities

$
(3,327)

 

$
(1,330)

 

$
(1,997)

 

$
1,413 

 

$
564 

 

$
849 

Reclassification adjustment for net gains on securities transactions included in net income

 
(399)

 

 
(160)

 

 
(239)

 

 
(763)

 

 
(305)

 

 
(458)

Total other comprehensive (loss) income

$
(3,726)

 

$
(1,490)

 

$
(2,236)

 

$
650 

 

$
259 

 

$
391 

 

Reclassification adjustments for gains on securities transactions of $399 thousand for the nine months ended September 30, 2013 and $569 thousand and $763 thousand for the three and nine months ended September 30, 2012, respectively, are presented in the income statement on the line item for net gain on securities transactions.  There were no reclassification adjustments for gains on securities transactions for the three months ended September 30, 2013.