Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2014

Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss)

NOTE 6 – OTHER COMPREHENSIVE INCOME (LOSS)

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 income (loss), both before tax and net of tax, are as follows:

	Three Months Ended June 30, 2014						Three Months Ended June 30, 2013
	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Other comprehensive income (loss):
Unrealized gains (losses) on available for sale securities	$	1,636	$	655	$	981	$	(3,113)	$	(1,246)	$	(1,867)
Reclassification adjustment for net gains on securities transactions included in net income		(94)		(38)		(56)		(29)		(12)		(17)
Total other comprehensive income (loss)	$	1,542	$	617	$	925	$	(3,142)	$	(1,258)	$	(1,884)

	Six  Months Ended June 30, 2014						Six  Months Ended June 30, 2013
	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
Other comprehensive income (loss):
Unrealized gains (losses) on available for sale securities	$	3,353	$	1,342	$	2,011	$	(3,757)	$	(1,503)	$	(2,254)
Reclassification adjustment for net gains on securities transactions included in net income		(94)		(38)		(56)		(399)		(160)		(239)
Total other comprehensive income (loss)	$	3,259	$	1,304	$	1,955	$	(4,156)	$	(1,663)	$	(2,493)

Reclassification adjustments for gains on securities transactions of $94 thousand for the three and six months ended June 30, 2014 and $29 thousand and $399 thousand for the three and six months ended June 30, 2013, respectively, are presented in the income statement on the line item for net gain on securities transactions.