Comprehensive Income |
Note 19 – Comprehensive Income
The components of accumulated other comprehensive income (loss) included in stockholders’ equity are as follows:
|
June 30, |
|
|
2018 |
|
|
2017 |
|
|
(In Thousands) |
|
Net unrealized loss on securities available for sale |
$ |
(4,321 |
) |
|
$ |
(2,385 |
) |
Tax effect |
|
1,159 |
|
|
|
975 |
|
Net of tax amount |
|
(3,162 |
) |
|
|
(1,410 |
) |
|
|
|
|
|
|
|
|
Net unrealized loss on securities available for sale
transferred to held to maturity |
|
(887 |
) |
|
|
(1,109 |
) |
Tax effect |
|
249 |
|
|
|
453 |
|
Net of tax amount |
|
(638 |
) |
|
|
(656 |
) |
|
|
|
|
|
|
|
|
Fair value adjustments on derivatives |
|
31,881 |
|
|
|
6,319 |
|
Tax effect |
|
(8,961 |
) |
|
|
(2,582 |
) |
Net of tax amount |
|
22,920 |
|
|
|
3,737 |
|
|
|
|
|
|
|
|
|
Benefit plan adjustments |
|
(813 |
) |
|
|
(1,061 |
) |
Tax effect |
|
228 |
|
|
|
434 |
|
Net of tax amount |
|
(585 |
) |
|
|
(627 |
) |
|
|
|
|
|
|
|
|
Total accumulated other comprehensive income |
$ |
18,535 |
|
|
$ |
1,044 |
|
Note 19 – Comprehensive Income (continued)
Other comprehensive income (loss) and related tax effects are presented in the following table:
|
Years Ended June 30, |
|
|
|
2018 |
|
|
|
2017 |
|
|
|
2016 |
|
|
(In Thousands) |
|
Net unrealized holding (loss) gain on
securities available for sale |
$ |
(1,919 |
) |
|
$ |
1,923 |
|
|
$ |
(4,564 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of unrealized holding gain (loss) on
securities available for sale transferred to
held to maturity (1) |
|
222 |
|
|
|
(53 |
) |
|
|
9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized (gain) loss on securities available for sale (2) |
|
(17 |
) |
|
|
402 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value adjustments on derivatives |
|
25,560 |
|
|
|
27,637 |
|
|
|
(10,187 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
Amortization of: |
|
|
|
|
|
|
|
|
|
|
|
Actuarial loss (3) |
|
45 |
|
|
|
66 |
|
|
|
37 |
|
Past service cost (3) |
|
- |
|
|
|
- |
|
|
|
22 |
|
New actuarial gain (loss) |
|
205 |
|
|
|
219 |
|
|
|
(911 |
) |
Net change in benefit plan accrued expense |
|
250 |
|
|
|
285 |
|
|
|
(852 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss) before taxes |
|
24,096 |
|
|
|
30,194 |
|
|
|
(15,594 |
) |
Tax effect |
|
(7,986 |
) |
|
|
(12,363 |
) |
|
|
6,568 |
|
Total comprehensive income (loss) |
$ |
16,110 |
|
|
$ |
17,831 |
|
|
$ |
(9,026 |
) |
(1) |
Represents amounts reclassified out of accumulated other comprehensive income and included in interest income on taxable securities. |
(2) |
Represents amounts reclassified out of accumulated other comprehensive income and included in gain on sale of securities on the consolidated statements of income. |
(3) |
Represents amounts reclassified out of accumulated other comprehensive income and included in the computation of net periodic pension expense. See Note 14 – Benefit Plans for additional information. |
|