Changes in Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2013

Accumulated Other Comprehensive Income [Abstract]

Changes in Accumulated Other Comprehensive Income (Loss)

Note 11: Changes in Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) (“AOCI”) balances, including amounts reclassified out of AOCI, are shown in the following table.

	Net Unrealized Gains (Losses) on Securities			Pension and Post- retirement Benefit Plans			Accumulated Other Comprehensive Income (Loss)
Three months ended March 31, 2013 (unaudited)
Beginning balance	$	279,195		$	(659,921	)	$	(380,726	)
Change in net unrealized holding gains on securities, before reclassifications, net of tax benefit of $25,045		(48,617	)		—			(48,617	)
Reclassification for previously unrealized net gains on securities recognized in net income, net of tax of $1,000		(1,941	)		—			(1,941	)
Balance at March 31, 2013	$	228,637		$	(659,921	)	$	(431,284	)
Three months ended March 31, 2012 (unaudited)
Beginning balance	$	760,730		$	(315,391	)	$	445,339
Change in net unrealized holding gains on securities, before reclassifications, net of tax benefit of $36,885		(71,603	)		—			(71,603	)
Reclassification for previously unrealized net gains on securities recognized in net income, net of tax of $3,013		(5,848	)		—			(5,848	)
Balance at March 31, 2012	$	683,279		$	(315,391	)	$	367,888

Reclassifications of unrealized gains (losses) on AFS securities are reported in the income statement as “Gains on sale of securities available for sale” with the corresponding income tax effect being reflected as a component of income tax expense. During the three months ended March 31, 2013 and 2012, the Company reported net gains on sales of securities of $2,941 and $8,861, respectively; the tax effect of these transactions was $1,000 and $3,013, respectively, which was included as a component of income tax expense.