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Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2014
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, 2014
Pre-tax Amounts
 
Income Taxes
 
Net of Tax
Securities available for sale:
 
 
 
 
 
Changes in fair value of securities available for sale

$1,601

 

$580

 

$1,021

Net (gains) losses on securities classified into earnings (1)
—

 
—

 
—

Net change in fair value of securities available for sale
1,601

 
580

 
1,021

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

 
—

 
—

Cash flow hedges:
 
 
 
 
 
Changes in fair value of cash flow hedges
(56
)
 
(18
)
 
(38
)
Net cash flow hedge losses reclassified into earnings (3)
577

 
208

 
369

Net change in the fair value of cash flow hedges
521

 
190

 
331

Defined benefit plan obligation adjustment (4)
(13,493
)
 
(4,885
)
 
(8,608
)
Total other comprehensive loss

($11,371
)
 

($4,115
)
 

($7,256
)
(1) Reported as net realized gains on securities and 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.

(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 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

Net 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

(1) Reported as net realized gains on securities and 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.

(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 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

Net 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 loss

($13,387
)
 

($4,783
)
 

($8,604
)

(1) Reported as net realized gains on securities and 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 tables present the changes in accumulated other comprehensive income (loss) by component, net of tax:

(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, 2013

$3,089

 

$112

 

($618
)
 

($4,136
)
 

($1,553
)
Other comprehensive income before reclassifications
1,021

 
—

 
(38
)
 
—

 
983

Amounts reclassified from accumulated other comprehensive income
—

 
—

 
369

 
(8,608
)
 
(8,239
)
Net other comprehensive income (loss)
1,021

 
—

 
331

 
(8,608
)
 
(7,256
)
Balance at December 31, 2014

$4,110

 

$112

 

($287
)
 

($12,744
)
 

($8,809
)


(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
)


(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, 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
)