Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2013

Equity [Abstract]

Other Comprehensive Income (Loss)

Note 8. Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss) both gross and net of tax, for the three months ended March 31, 2013 and 2012 (in thousands):

	Three months ended March 31,
	2013									2012
	Before Tax			Tax Effect			After Tax			Before Tax			Tax Effect			After Tax
Components of Other Comprehensive Income (Loss):
Unrealized gains and losses on securities available for sale:
Net (losses) gains arising during the period	$	(2,739	)		1,119			(1,620	)	$	2,407			(983	)		1,424
Reclassification adjustment for gains included in net income		(511	)		209			(302	)		(2,183	)		892			(1,291	)
Total		(3,250	)		1,328			(1,922	)		224			(91	)		133
Amortization related to post retirement obligations		438			(179	)		259			(656	)		268			(388	)
Total other comprehensive (loss) income	$	(2,812	)		1,149			(1,663	)	$	(432	)		177			(255	)

The following table presents the changes in the components of accumulated other comprehensive income, net of tax, for the three months ended March 31, 2013 (in thousands):

	Changes in Accumulated Other Comprehensive Income by Component, net of tax:
	Unrealized Gains on Securities Available for Sale			Post Retirement Obligations			Accumulated Other Comprehensive Income
Balance at December 31, 2012	$	16,961			(9,245	)		7,716
Current - period other comprehensive (loss) income		(1,922	)		259			(1,663	)
Balance at March 31, 2013	$	15,039			(8,986	)		6,053

The following table summarizes the reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2013 (in thousands):

	Reclassifications Out of Accumulated Other Comprehensive Income for the Three Months Ended March 31, 2013
Details of Accumulated Other Comprehensive Income (“AOCI”) Components	Amount reclassified  from AOCI			Affected line item in the Consolidated Statement of Income
Securities available for sale:
Realized net gains on the sale of securities available for sale	$	511		Net gain on securities transactions
		(209	)	Income tax expense
		302		Net of tax
Post retirement obligations:
Amortization of actuarial losses (gains)		342		Compensation and employee benefits (1)
		(140	)	Income tax expense
		202		Net of tax
Total reclassifications	$	504		Net of tax

(1) This item is included in the computation of net periodic benefit cost. See Note 5. Components of Net Periodic Benefit Cost.