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Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)
The following tables present the activity in other comprehensive income (loss):
(Dollars in thousands)
 
 
 
 
 
Year ended December 31, 2013
Pre-tax Amounts
 
Income Taxes
 
Net of Tax
Securities available for sale:
 
 
 
 
 
Changes in fair value of securities available for sale

($10,586
)
 

($3,778
)
 

($6,808
)
Net (gains) losses on securities classified into earnings (1)
294

 
106

 
188

Net change in fair value of securities available for sale
(10,292
)
 
(3,672
)
 
(6,620
)
Reclassification adjustment for other-than-temporary impairment losses transferred into earnings (2)
3,195

 
1,146

 
2,049

Cash flow hedges:
 
 
 
 
 
Changes in fair value of cash flow hedges
(58
)
 
(23
)
 
(35
)
Net cash flow hedge losses reclassified into earnings (3)
657

 
234

 
423

Change in the fair value of cash flow hedges
599

 
211

 
388

Defined benefit plan obligation adjustment (4)
20,406

 
7,277

 
13,129

Total other comprehensive income

$13,908

 

$4,962

 

$8,946



(Dollars in thousands)
 
 
 
 
 
Year ended December 31, 2012
Pre-tax Amounts
 
Income Taxes
 
Net of Tax
Securities available for sale:
 
 
 
 
 
Changes in fair value of securities available for sale

($4,125
)
 

($1,459
)
 

($2,666
)
Net (gains) losses on securities classified into earnings (1)
(1,195
)
 
(427
)
 
(768
)
Net change in fair value of securities available for sale
(5,320
)
 
(1,886
)
 
(3,434
)
Reclassification adjustment for other-than-temporary impairment losses transferred into earnings (2)
193

 
68

 
125

Cash flow hedges:
 
 
 
 
 
Changes in fair value of cash flow hedges
(521
)
 
(188
)
 
(333
)
Net cash flow hedge losses reclassified into earnings (3)
706

 
252

 
454

Change in the fair value of cash flow hedges
185

 
64

 
121

Defined benefit plan obligation adjustment (4)
(8,445
)
 
(3,029
)
 
(5,416
)
Total other comprehensive income

($13,387
)
 

($4,783
)
 

($8,604
)


(Dollars in thousands)
 
 
 
 
 
Year ended December 31, 2011
Pre-tax Amounts
 
Income Taxes
 
Net of Tax
Securities available for sale:
 
 
 
 
 
Changes in fair value of securities available for sale

$2,620

 

$998

 

$1,622

Net (gains) losses on securities classified into earnings (1)
(644
)
 
(229
)
 
(415
)
Net change in fair value of securities available for sale
1,976

 
769

 
1,207

Reclassification adjustment for other-than-temporary impairment losses transferred into earnings (2)
137

 
49

 
88

Cash flow hedges:
 
 
 
 
 
Changes in fair value of cash flow hedges
(1,464
)
 
(522
)
 
(942
)
Net cash flow hedge losses reclassified into earnings (3)
755

 
269

 
486

Net change in the fair value of cash flow hedges
(709
)
 
(253
)
 
(456
)
Defined benefit plan obligation adjustment (4)
(10,502
)
 
(3,743
)
 
(6,759
)
Total other comprehensive income

($9,098
)
 

($3,178
)
 

($5,920
)


(1) Reported as total other-than-temporary impairment losses on securities in the Consolidated Statements of Income.
(2) Reported as the portion of loss recognized in other comprehensive income in the Consolidated Statements of Income.
(3) Included in interest expense on junior subordinated debentures in the Consolidated Statements of Income.
(4) Included in salaries and employee benefits expense in the Consolidated Statements of Income.

The following table presents the changes in accumulated other comprehensive income (loss) by component, net of tax, for the year ended December 31, 2013:
(Dollars in thousands)
Net Unrealized Gains on Available For Sale Securities
 
Noncredit -related Impairment
 
Net Unrealized Losses on Cash Flow Hedges
 
Pension Benefit Adjustment
 
Total
Balance at December 31, 2012

$9,709

 

($1,937
)
 

($1,006
)
 

($17,265
)
 

($10,499
)
Other comprehensive income before reclassifications
(6,808
)
 
—

 
(35
)
 
—

 
(6,843
)
Amounts reclassified from accumulated other comprehensive income
188

 
2,049

 
423

 
13,129

 
15,789

Net other comprehensive income (loss)
(6,620
)
 
2,049

 
388

 
13,129

 
8,946

Balance at December 31, 2013

$3,089

 

$112

 

($618
)
 

($4,136
)
 

($1,553
)

The following table presents the changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ended December 31, 2011 and 2012:
(Dollars in thousands)
Net Unrealized Gains on Available For Sale Securities
 
Noncredit -related Impairment
 
Net Unrealized Losses on Cash Flow Hedges
 
Pension Benefit Adjustment
 
Total
Balance at January 1, 2011

$11,936

 

($2,150
)
 

($671
)
 

($5,090
)
 

$4,025

Period change, net of tax
1,207

 
88

 
(456
)
 
(6,759
)
 
(5,920
)
Balance at December 31, 2011

$13,143

 

($2,062
)
 

($1,127
)
 

($11,849
)
 

($1,895
)
Period change, net of tax
(3,434
)
 
125

 
121

 
(5,416
)
 
(8,604
)
Balance at December 31, 2012

$9,709

 

($1,937
)
 

($1,006
)
 

($17,265
)
 

($10,499
)