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Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)
The following tables present the activity in other comprehensive income (loss):
 
 
 
 
 
 
 
 
Three months ended March 31,
2017
 
2016
(Dollars in thousands)
Pre-tax Amounts
Income Taxes
Net of Tax
 
Pre-tax Amounts
Income Taxes
Net of Tax
Securities available for sale:
 
 
 
 
 
 
 
Changes in fair value of securities available for sale

$636


$235


$401

 

$578


$214


$364

Net gains on securities reclassified into earnings
—

—

—

 
—

—

—

Net change in fair value of securities available for sale

$636


$235


$401

 

$578


$214


$364

Cash flow hedges:
 
 
 
 
 
 
 
Change in fair value of cash flow hedges
26

14

12

 
(124
)
(58
)
(66
)
Net cash flow hedge losses reclassified into earnings (1)
136

50

86

 
—

—

—

Net change in fair value of cash flow hedges
162

64

98

 
(124
)
(58
)
(66
)
Defined benefit plan obligations:
 
 
 
 
 
 
 
Defined benefit plan obligation adjustment
—

—

—

 
—

—

—

Amortization of net actuarial losses (2)
344

127

217

 
(6
)
(2
)
(4
)
Amortization of net prior service credits (2)
(6
)
(2
)
(4
)
 
269

99

170

Net change in defined benefit plan obligations
338

125

213

 
263

97

166

Total other comprehensive income

$1,136


$424


$712

 

$717


$253


$464

(1)
The pre-tax amount is included in interest expense on Federal Home Loan Bank advances in the Consolidated Statements of Income.
(2)
The pre-tax amounts are 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
 
Net Unrealized Losses on Cash Flow Hedges
 
Pension Benefit Adjustment
 
Total
Balance at December 31, 2016

($6,825
)
 

($300
)
 

($12,632
)
 

($19,757
)
Other comprehensive income before reclassifications
401

 
12

 
—

 
413

Amounts reclassified from accumulated other comprehensive income
—

 
86

 
213

 
299

Net other comprehensive income
401

 
98

 
213

 
712

Balance at March 31, 2017

($6,424
)
 

($202
)
 

($12,419
)
 

($19,045
)


(Dollars in thousands)
Net Unrealized Gains on Available For Sale Securities
 
Net Unrealized Losses on Cash Flow Hedges
 
Pension Benefit Adjustment
 
Total
Balance at December 31, 2015

$1,051

 

($43
)
 

($10,707
)
 

($9,699
)
Other comprehensive income (loss) before reclassifications
364

 
(66
)
 
—

 
298

Amounts reclassified from accumulated other comprehensive income
—

 
—

 
166

 
166

Net other comprehensive income (loss)
364

 
(66
)
 
166

 
464

Balance at March 31, 2016

$1,415

 

($109
)
 

($10,541
)
 

($9,235
)