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Accumulated Other Comprehensive Income (Loss) (''AOCI'') (Tables)
 6 Months Ended
Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) ("AOCI")  
Schedule of changes in AOCI by component

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2018 and 2017

 

    

 

    

Unamortized

    

 

    

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

Gain on

 

 

 

 

 

 

Gains (Losses) on

 

Available-

 

 

 

 

 

 

Available-

 

for-Sale

 

Defined

 

 

 

 

for-Sale

 

Securities

 

Benefit

 

 

 

 

Securities

 

Reclassified

 

Pension

 

 

 

 

and I/O

 

to Held-to-

 

Plan

 

 

 

 

Strips(1)

 

Maturity

 

Items

 

Total

 

 

(Dollars in thousands)

Beginning balance April 1, 2018, net of taxes

 

$

(6,093)

 

$

367

 

$

(9,230)

 

$

(14,956)

Other comprehensive income (loss) before reclassification, net of taxes

 

 

(812)

 

 

 —

 

 

(4)

 

 

(816)

Amounts reclassified from other comprehensive income (loss), net of taxes

 

 

(126)

 

 

(8)

 

 

40

 

 

(94)

Net current period other comprehensive income (loss), net of taxes

 

 

(938)

 

 

(8)

 

 

36

 

 

(910)

Ending balance June 30, 2018, net of taxes

 

$

(7,031)

 

$

359

 

$

(9,194)

 

$

(15,866)

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance April 1, 2017, net of taxes

 

$

(46)

 

$

328

 

$

(7,687)

 

$

(7,405)

Other comprehensive income (loss) before reclassification, net of taxes

 

 

923

 

 

 —

 

 

(8)

 

 

915

Amounts reclassified from other comprehensive income (loss), net of taxes

 

 

 —

 

 

(7)

 

 

30

 

 

23

Net current period other comprehensive income (loss), net of taxes

 

 

923

 

 

(7)

 

 

22

 

 

938

Ending balance June 30, 2017, net of taxes

 

$

877

 

$

321

 

$

(7,665)

 

$

(6,467)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2018 and 2017

 

    

 

    

Unamortized

    

 

    

 

 

 

 

 

Unrealized

 

 

 

 

 

 

Unrealized

 

Gain on

 

 

 

 

 

 

Gains (Losses) on

 

Available-

 

 

 

 

 

 

Available-

 

for-Sale

 

Defined

 

 

 

 

for-Sale

 

Securities

 

Benefit

 

 

 

 

Securities

 

Reclassified

 

Pension

 

 

 

 

and I/O

 

to Held-to-

 

Plan

 

 

 

 

Strips

 

Maturity

 

Items

 

Total

 

 

(Dollars in thousands)

Beginning balance January 1, 2018, net of taxes

 

$

(362)

 

$

375

 

$

(9,265)

 

$

(9,252)

Other comprehensive (loss) before reclassification, net of taxes

 

 

(6,482)

 

 

 —

 

 

(9)

 

 

(6,491)

Amounts reclassified from other comprehensive (loss) income, net of taxes

 

 

(187)

 

 

(16)

 

 

80

 

 

(123)

Net current period other comprehensive (loss) income, net of taxes

 

 

(6,669)

 

 

(16)

 

 

71

 

 

(6,614)

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance June 30, 2018, net of taxes

 

$

(7,031)

 

$

359

 

$

(9,194)

 

$

(15,866)

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance January 1, 2017, net of taxes

 

$

(540)

 

$

336

 

$

(7,710)

 

$

(7,914)

Other comprehensive income (loss) before reclassification, net of taxes

 

 

1,413

 

 

 —

 

 

(15)

 

 

1,398

Amounts reclassified from other comprehensive income (loss), net of taxes

 

 

 4

 

 

(15)

 

 

60

 

 

49

Net current period other comprehensive income (loss), net of taxes

 

 

1,417

 

 

(15)

 

 

45

 

 

1,447

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance June 30, 2017, net of taxes

 

$

877

 

$

321

 

$

(7,665)

 

$

(6,467)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of reclassifications out of AOCI into net income

 

 

 

 

 

 

 

 

 

 

Amounts Reclassified from

 

 

 

 

AOCI(1)

 

 

 

 

Three Months Ended

 

 

 

 

June 30, 

 

Affected Line Item Where

 

Details About AOCI Components

2018

    

2017

    

Net Income is Presented

 

 

(Dollars in thousands)

 

 

 

Unrealized gains on available-for-sale securities

 

 

 

 

 

 

 

 

  and I/O strips

$

179

 

$

 —

 

Gain (loss) on sales of securities

 

 

 

(53)

 

 

 —

 

Income tax expense

 

 

 

126

 

 

 —

 

Net of tax

 

Amortization of unrealized gain on securities available-

 

 

 

 

 

 

 

 

  for-sale that were reclassified to securities

 

 

 

 

 

 

 

 

  held-to-maturity

 

11

 

 

13

 

Interest income on taxable securities

 

 

 

(3)

 

 

(6)

 

Income tax expense

 

 

 

 8

 

 

 7

 

Net of tax

 

 

 

 

 

 

 

 

 

 

Amortization of defined benefit pension plan items (1)

 

 

 

 

 

 

 

 

Prior transition obligation

 

16

 

 

17

 

 

 

Actuarial losses

 

(73)

 

 

(69)

 

 

 

 

 

(57)

 

 

(52)

 

Salaries and employee benefits

 

 

 

17

 

 

22

 

Income tax benefit

 

 

 

(40)

 

 

(30)

 

Net of tax

 

Total reclassification for the year

$

94

 

$

(23)

 

 

 

(1)

This AOCI component is included in the computation of net periodic benefit cost (see Note 9—Benefit Plans) and includes split-dollar life insurance benefit plan.

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts Reclassified from

 

 

 

 

AOCI(1)

 

 

 

 

Six Months Ended

 

 

 

Details About AOCI Components

2018

    

2017

    

Net Income is Presented

 

 

(Dollars in thousands)

 

 

 

Unrealized gains on available-for-sale securities and I/O strips

$

266

 

$

(6)

 

Gain (loss) on sales of securities

 

 

 

(79)

 

 

 2

 

Income tax expense

 

 

 

187

 

 

(4)

 

Net of tax

 

Amortization of unrealized gain on securities available-for-

 

 

 

 

 

 

 

 

  sale that were reclassified to securities held-to-maturity

 

22

 

 

26

 

Interest income on taxable securities

 

 

 

(6)

 

 

(11)

 

Income tax expense

 

 

 

16

 

 

15

 

Net of tax

 

Amortization of defined benefit pension plan items (1)

 

 

 

 

 

 

 

 

Prior transition obligation

 

32

 

 

35

 

 

 

Actuarial losses

 

(146)

 

 

(138)

 

 

 

 

 

(114)

 

 

(103)

 

Income before income tax

 

 

 

34

 

 

43

 

Income tax benefit

 

 

 

(80)

 

 

(60)

 

Net of tax

 

Total reclassification from AOCI for the year

$

123

 

$

(49)

 

 

 

(1)

This AOCI component is included in the computation of net periodic benefit cost (see Note 9—Benefit Plans) and includes split-dollar life insurance benefit plan.