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Other Comprehensive (Loss) Income
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive (Loss) Income
The following table presents the components of other comprehensive (loss) income both gross and net of tax, for the years ended December 31, 2013, 2012 and 2011 (in thousands):
 
For the Years Ended December 31,
 
2013
 
2012
 
2011
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
Components of Other Comprehensive (Loss) Income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains and losses on securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (losses) gains arising during the period
$
(32,845
)
 
13,417

 
(19,428
)
 
$
3,060

 
(1,250
)
 
1,810

 
$
7,175

 
(2,931
)
 
4,244

Reclassification adjustment for gains included in net income
(996
)
 
407

 
(589
)
 
(4,497
)
 
1,837

 
(2,660
)
 
(708
)
 
289

 
(419
)
Total
(33,841
)
 
13,824

 
(20,017
)
 
(1,437
)
 
587

 
(850
)
 
6,467

 
(2,642
)
 
3,825

Other-than-temporary impairment on debt securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other-than-temporary impairment losses on securities
—

 
—

 
—

 
—

 
—

 
—

 
(1,661
)
 
678

 
(983
)
Reclassification adjustment for impairment losses included in net income
434

 
(177
)
 
257

 
—

 
—

 
—

 
302

 
(123
)
 
179

Total
434

 
(177
)
 
257

 
—

 
—

 
—

 
(1,359
)
 
555

 
(804
)
Amortization related to post retirement obligations
12,161

 
(4,968
)
 
7,193

 
(1,699
)
 
694

 
(1,005
)
 
(13,870
)
 
5,666

 
(8,204
)
Total other comprehensive (loss) income
$
(21,246
)
 
8,679

 
(12,567
)
 
$
(3,136
)
 
1,281

 
(1,855
)
 
$
(8,762
)
 
3,579

 
(5,183
)

The following table presents the changes in the components of accumulated other comprehensive income, net of tax, for the year ended December 31, 2013 (in thousands):
  
 
Changes in Accumulated Other Comprehensive Income by
Component, net of tax:
Year ended December 31, 2013
 
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
 
(19,760
)
 
7,193

 
(12,567
)
Balance at December 31, 2013
 
$
(2,799
)
 
(2,052
)
 
(4,851
)

The following table summarizes the reclassifications out of accumulated other comprehensive income for the year ended December 31, 2013 (in thousands):
 
 
Reclassifications Out of Accumulated Other Comprehensive
Income for the Year Ended December 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
 
$
996

 
Net gain on securities transactions
 
 
(407
)
 
Income tax expense
 
 
589

 
Net of tax
 
 
 
 
 
Realized other-than-temporary impairment losses on securities available for sale
 
$
(434
)
 
Net impairment losses on securities recognized in earnings
 
 
177

 
Income tax expense
 
 
(257
)
 
Net of tax
Post-retirement obligations:
 

 
 
Amortization of actuarial losses (gains)
 
1,367

 
Compensation and employee  benefits (1)
 
 
(558
)
 
Income tax expense
 
 
809

 
Net of tax
Total reclassifications
 
$
1,141

 
Net of tax
 
 
 
 
 

(1) This item is included in the computation of net periodic benefit cost. See Note 11. Benefits