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ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Tables)
9 Months Ended
Sep. 30, 2018
Stockholders Equity Note [Abstract]  
Schedule of accumulated other comprehensive income balances, net of tax

The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the three months ended September 30, 2018 and 2017:

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassified

 

 

Comprehensive

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

From

 

 

Income/(Loss)

 

 

 

 

 

 

 

 

 

 

 

Comprehensive

 

 

Accumulated

 

 

Three Months

 

 

 

 

 

 

 

Balance at

 

 

Income/(Loss)

 

 

Other

 

 

Ended

 

 

Balance at

 

 

 

July 1,

 

 

Before

 

 

Comprehensive

 

 

September 30,

 

 

September 30,

 

(In thousands)

 

2018

 

 

Reclassifications

 

 

Income/(Loss)

 

 

2018

 

 

2018

 

Net unrealized holding loss on securities

   available for sale, net of tax

 

$

(4,839

)

 

$

(1,191

)

 

$

218

 

 

$

(973

)

 

$

(5,812

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain/(loss) on cash flow hedges

 

 

2,085

 

 

 

534

 

 

 

(20

)

 

 

514

 

 

 

2,599

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive loss,

   net of tax

 

$

(2,754

)

 

$

(657

)

 

$

198

 

 

$

(459

)

 

$

(3,213

)

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassified

 

 

Comprehensive

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

From

 

 

Income/(Loss)

 

 

 

 

 

 

 

 

 

 

 

Comprehensive

 

 

Accumulated

 

 

Three Months

 

 

 

 

 

 

 

Balance at

 

 

Income/(Loss)

 

 

Other

 

 

Ended

 

 

Balance at

 

 

 

July 1,

 

 

Before

 

 

Comprehensive

 

 

September 30,

 

 

September 30,

 

(In thousands)

 

2017

 

 

Reclassifications

 

 

Income/(Loss)

 

 

2017

 

 

2017

 

Net unrealized holding gain/(loss) on

   securities available for sale, net of tax

 

$

(572

)

 

$

62

 

 

$

 

 

$

62

 

 

$

(510

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain/(loss) on cash flow hedges

 

 

34

 

 

 

131

 

 

 

 

 

 

131

 

 

 

165

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive loss,

   net of tax

 

$

(538

)

 

$

193

 

 

$

 

 

$

193

 

 

$

(345

)

The following is a summary of the accumulated other comprehensive (loss)/income balances, net of tax, for the nine months ended September 30, 2018 and 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassified

 

 

Comprehensive

 

 

 

 

 

 

 

 

 

 

 

Cumulative

 

 

Other

 

 

From

 

 

Income/(Loss)

 

 

 

 

 

 

 

 

 

 

 

Adjustment

 

 

Comprehensive

 

 

Accumulated

 

 

Nine Months

 

 

 

 

 

 

 

Balance at

 

 

For Equity

 

 

Income/(Loss)

 

 

Other

 

 

Ended

 

 

Balance at

 

 

 

January 1,

 

 

Security

 

 

Before

 

 

Comprehensive

 

 

September 30,

 

 

September 30,

 

(In thousands)

 

2018

 

 

(ASU 2016-1)

 

 

Reclassifications

 

 

Income/(Loss)

 

 

2018

 

 

2018

 

Net unrealized holding loss on securities

   available for sale, net of tax

 

$

(2,214

)

 

$

127

 

 

$

(3,943

)

 

$

218

 

 

$

(3,725

)

 

$

(5,812

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain/(loss) on cash flow hedges

 

 

1,002

 

 

 

 

 

 

1,661

 

 

 

(64

)

 

 

1,597

 

 

 

2,599

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive

   loss, net of tax

 

$

(1,212

)

 

$

127

 

 

$

(2,282

)

 

$

154

 

 

$

(2,128

)

 

$

(3,213

)

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassified

 

 

Comprehensive

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

From

 

 

Income/(Loss)

 

 

 

 

 

 

 

 

 

 

 

Comprehensive

 

 

Accumulated

 

 

Nine Months

 

 

 

 

 

 

 

Balance at

 

 

Income/(Loss)

 

 

Other

 

 

Ended

 

 

Balance at

 

 

 

January 1,

 

 

Before

 

 

Comprehensive

 

 

September 30,

 

 

September 30,

 

(In thousands)

 

2017

 

 

Reclassifications

 

 

Income/(Loss)

 

 

2017

 

 

2017

 

Net unrealized holding gain/(loss) on

   securities available for sale, net of tax

 

$

(1,091

)

 

$

581

 

 

$

 

 

$

581

 

 

$

(510

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain/(loss) on cash flow hedges

 

 

(440

)

 

 

605

 

 

 

 

 

 

605

 

 

 

165

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive

   loss, net of tax

 

$

(1,531

)

 

$

1,186

 

 

$

 

 

$

1,186

 

 

$

(345

)

 

Schedule of the reclassifications out of accumulated other comprehensive income

The following represents the reclassifications out of accumulated other comprehensive income for the three months ended September 30, 2018 and 2017:

 

 

 

Three Months Ended

 

 

 

 

 

September 30,

 

 

 

(In thousands)

 

2018

 

 

2017

 

 

Affected Line Item in Income

Unrealized losses on securities available

   for sale:

 

 

 

 

 

 

 

 

 

 

Reclassification adjustment for amounts

   included in net income

 

$

288

 

 

$

 

 

Securities losses, net

Income tax benefit

 

 

(70

)

 

 

 

 

Income tax expense

Total reclassifications, net of tax

 

$

218

 

 

$

 

 

 

Unrealized gains on cash flow hedge

   derivatives:

 

 

 

 

 

 

 

 

 

 

Reclassification adjustment for amounts

   included in net income

 

$

(31

)

 

$

 

 

Interest expense

Income tax expense

 

 

11

 

 

 

 

 

Income tax expense

Total reclassifications, net of tax

 

$

(20

)

 

$

 

 

 

The following represents the reclassifications out of accumulated other comprehensive income for the nine months ended September 30, 2018 and 2017:

 

 

 

Nine Months

 

 

 

 

 

September 30,

 

 

 

(In thousands)

 

2018

 

 

2017

 

 

Affected Line Item in Income

Unrealized losses on securities available

   for sale:

 

 

 

 

 

 

 

 

 

 

Reclassification adjustment for amounts

   included in net income

 

$

288

 

 

$

 

 

Securities losses, net

Income tax benefit

 

 

(70

)

 

 

 

 

Income tax expense

Total reclassifications, net of tax

 

$

218

 

 

$

 

 

 

Unrealized gains on cash flow hedge

   derivatives:

 

 

 

 

 

 

 

 

 

 

Reclassification adjustment for amounts

   included in net income

 

$

(93

)

 

$

 

 

Interest expense

Income tax expense

 

 

29

 

 

 

 

 

Income tax expense

Total reclassifications, net of tax

 

$

(64

)

 

$