Accumulated Other Comprehensive Loss ("AOCL")

9 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Loss ("AOCL") [Abstract]

Accumulated Other Comprehensive Loss ("AOCL")

15. Accumulated Other Comprehensive Loss (“AOCL”)

A summary of changes in AOCL follows:

	Unrealized Gains (Losses) on Available for Sale Securities			Dispropor- tionate Tax Effects from Securities Available for Sale			Unrealized Losses on Settled Derivatives			Total
For the three months ended September 30,
2015
Balances at beginning of period	$	408		$	(5,798	)	$	-		$	(5,390	)
Other comprehensive loss before reclassifications		894			-			-			894
Amounts reclassified from AOCL		-			-			-			-
Net current period other comprehensive income		894			-			-			894
Balances at end of period	$	1,302		$	(5,798	)	$	-		$	(4,496	)
2014
Balances at beginning of period	$	(376	)	$	(5,798	)	$	(124	)	$	(6,298	)
Other comprehensive income before reclassifications		226			-			-			226
Amounts reclassified from AOCL		(73	)		-			62			(11	)
Net current period other comprehensive income		153			-			62			215
Balances at end of period	$	(223	)	$	(5,798	)	$	(62	)	$	(6,083	)
For the nine months ended September 30,
2015
Balances at beginning of period	$	162		$	(5,798	)	$	-		$	(5,636	)
Other comprehensive income before reclassifications		1,189			-			-			1,189
Amounts reclassified from AOCL		(49	)		-			-			(49	)
Net current period other comprehensive income		1,140			-			-			1,140
Balances at end of period	$	1,302		$	(5,798	)	$	-		$	(4,496	)
2014
Balances at beginning of period	$	(3,200	)	$	(5,798	)	$	(247	)	$	(9,245	)
Other comprehensive income before reclassifications		3,051			-			-			3,051
Amounts reclassified from AOCL		(74	)		-			185			111
Net current period other comprehensive income		2,977			-			185			3,162
Balances at end of period	$	(223	)	$	(5,798	)	$	(62	)	$	(6,083	)

The disproportionate tax effects from securities available for sale arose due to tax effects of other comprehensive income (“OCI”) in the presence of a valuation allowance against our deferred tax assets and a pretax loss from operations.  Generally, the amount of income tax expense or benefit allocated to operations is determined without regard to the tax effects of other categories of income or loss, such as OCI. However, an exception to the general rule is provided when, in the presence of a valuation allowance against deferred tax assets, there is a pretax loss from operations and pretax income from other categories in the current period.  In such instances, income from other categories must offset the current loss from operations, the tax benefit of such offset being reflected in operations.

A summary of reclassifications out of each component of AOCL for the three months ended September 30 follows:

AOCL Component	Amount Reclassified From AOCL			Affected Line Item in Condensed  Consolidated Statements of Operations
	(In thousands)
2015
Unrealized gains on available for sale securities
	$	-		Net gains on securities
		-		Net impairment loss recognized in earnings
		-		Total reclassifications before tax
		-		Tax expense
	$	-		Reclassifications, net of tax
2014
Unrealized gains on available for sale securities
	$	121		Net gains on securities
		(9	)	Net impairment loss recognized in earnings
		112		Total reclassifications before tax
		39		Tax expense
	$	73		Reclassifications, net of tax
Unrealized gains on settled derivatives
	$	(95	)	Interest expense
		(33	)	Tax benefit
	$	(62	)	Reclassification, net of tax
	$	11		Total reclassifications for the period, net of tax

A summary of reclassifications out of each component of AOCL for the nine months ended September 30 follows:

AOCL Component	Amount Reclassified From AOCL			Affected Line Item in Condensed  Consolidated Statements of Operations
	(In thousands)
2015
Unrealized gains on available for sale securities
	$	75		Net gains on securities
		-		Net impairment loss recognized in earnings
		75		Total reclassifications before tax
		26		Tax expense
	$	49		Reclassifications, net of tax
2014
Unrealized gains on available for sale securities
	$	123		Net gains on securities
		(9	)	Net impairment loss recognized in earnings
		114		Total reclassifications before tax
		40		Tax expense
	$	74		Reclassifications, net of tax
Unrealized gains on settled derivatives
	$	(285	)	Interest expense
		(100	)	Tax benefit
	$	(185	)	Reclassification, net of tax
	$	(111	)	Total reclassifications for the period, net of tax