OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2020

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME

NOTE 6 – OTHER COMPREHENSIVE 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 income, both before tax and net of tax, are as follows:

	Three Months Ended								Three Months Ended
	March 31, 2020								March 31, 2019
(Dollars in thousands)	Unrealized gains (losses) on available for sale securities		Unrealized gains (losses) on derivatives		Retirement benefit plan		Total		Unrealized gains (losses) on available for sale securities		Unrealized gains (losses) on derivatives		Total
Beginning balance, net of tax	$	680	$	(2,198)	$	8	$	(1,510)	$	680	$	(2,198)	$	(1,518)
Other comprehensive income (loss) income before reclassification, net of tax		1,073		(13,933)		—		(12,860)		2,912		(1,734)		1,178
Amounts reclassified from accumulated other comprehensive income (loss), net of tax		(356)		4,192		—		3,836		(824)		522		(302)
Net current period other comprehensive income, net of tax		717		(9,741)		—		(9,024)		2,088		(1,212)		876
Ending balance, net of tax	$	1,397	$	(11,939)	$	8	$	(10,534)	$	2,768	$	(3,410)	$	(642)