Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Other Comprehensive Income (Loss)

13. OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) included in the Consolidated Statements of Shareholders’ Equity consists of unrealized gains and losses on available for sale securities and reflects no change in unrealized gains and losses on postretirement liability. The change includes $3,000 reclassification of gains on sales of securities and no impairment charges for the three months ended March 31, 2014, and gains on sales of securities of $721,000 and no impairment charges for the three months ended March 31, 2013.

Other comprehensive income (loss) components and related tax effects for the three month periods are as follows:

	Three months ended March 31,
	2014			2013
	(Dollars in thousands)
Unrealized holding gain (loss) on securities available for sale	$	12,571		$	(2,242	)
Unrealized holding gain (loss) on postretirement benefits		—			—
Reclassification adjustment for (gains) losses realized in income		(3	)		(721	)
Net unrealized gains		12,568			(2,963	)
Tax effect		—			—
Net of tax amount	$	12,568		$	(2,963	)

The following is a summary of accumulated other comprehensive income (loss) balances, net of tax:

	Balance at December 31, 2013			Current Period Change		Balance at March 31, 2014
	(Dollars in thousands)
Unrealized gains (losses) on securities available for sale	$	(43,364	)	$	12,568	$	(30,796	)
Unrealized gains (losses) on post-retirement benefits		1,699			—		1,699
Total	$	(41,665	)	$	12,568	$	(29,097	)

	Balance at December 31, 2012		Current Period Change			Balance at March 31, 2013
	(Dollars in thousands)
Unrealized gains (losses) on securities available for sale	$	5,082	$	(2,963	)	$	2,119
Unrealized gains (losses) on post-retirement benefits		1,600		—			1,600
Total	$	6,682	$	(2,963	)	$	3,719

The following is a summary of each component of accumulated other comprehensive income (loss) that was reclassified into net income during the three months ended March 31, 2014:

	Unrealized gains/losses on Available for Sale Securities			Postretirement Benefits		Total
	(Dollars in thousands)
Beginning balance (12/31/2013)	$	(43,364	)	$	1,699	$	(41,665	)
Other comprehensive income before reclassification		12,571			—		12,571
Amounts reclassified from accumulated other compressive income		(3	)		—		(3	)
Net current period other comprehensive income		12,568			—		12,568
Ending balance (03/31/2014)	$	(30,796	)	$	1,699	$	(29,097	)

The following is a summary of each component of accumulated other comprehensive income (loss) that was reclassified into net income during the three months ended March 31, 2013:

	Unrealized gains/losses on Available for Sale Securities			Postretirement Benefits		Total
Beginning balance	$	5,082		$	1,600	$	6,682
Other comprehensive loss before reclassification		(2,242	)		—		(2,242	)
Amounts reclassified from accumulated other comprehensive income		(721	)		—		(721	)
Net current period other comprehensive loss		(2,963	)		—		(2,963	)
Ending balance	$	2,119		$	1,600	$	3,719

The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended March 31, 2014:

Details About Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income			Affected Line Item on the Statement Where Net Income is Presented
	(Dollars in thousands)
Realized net gains on the sale of available for sale securities	$	(3	)	Net gains on securities available for sale
		—		Tax expense (benefit)
		(3	)	Net of tax
Total reclassification during the period	$	(3	)

The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended March 31, 2013:

Details About Accumulated Other Comprehensive Income Components	Amount Reclassified From Accumulated Other Comprehensive Income			Affected Line Item on the Statement Where Net Income is Presented
	(Dollars in thousands)
Realized net gains on the sale of available for sale securities	$	(721	)	Net gains on securities available for sale
		—		Tax expense (benefit)
		(721	)	Net of tax
Total reclassification during the period	$	(721	)