ACCUMULATED OTHER COMPREHENSIVE INCOME (AOCI)

3 Months Ended

Mar. 31, 2014

ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI") [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI")

2. ACCUMULATED OTHER COMPREHENSIVE INCOME (“AOCI”)

The changes in the Company’s AOCI by component, net of tax, for the three months ended March 31, 2014 and 2013 follow (in thousands). The increase in net unrealized gains on available for sale securities for the three months ended March 31, 2014 resulted almost solely from the positive impact of a reduction in interest rates in 2014.

	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
	Unrealized Gains and Losses on Available for Sale Securities			Pension and Post- Retirement Plan Items			Total			Unrealized Gains and Losses on Available for Sale Securities			Pension and Post- Retirement Plan Items			Total
Beginning balance	$	(4,095	)	$	(3,194	)	$	(7,289	)	$	10,553		$	(7,667	)	$	2,886
Other comprehensive income (loss) before reclassifications		3,088			-			3,088			(991	)		-			(991	)
Amounts reclassified from AOCI		-			-			-			(229	)		-			(229	)
Net other comprehensive income (loss)		3,088			-			3,088			(1,220	)		-			(1,220	)
Ending balance	$	(1,007	)	$	(3,194	)	$	(4,201	)	$	9,333		$	(7,667	)	$	1,666

The table below presents reclassifications out of AOCI for the three months ended March 31, 2014 and 2013 (in thousands).

The table below presents reclassifications out of AOCI for the three months ended March 31, 2014 and 2013 (in thousands).

	Amount Reclassified from AOCI
	Three Months Ended March 31,							Affected Line Item in the Statement
Details about AOCI Components	2014			2013				Where Net Income is Presented
Unrealized gains and losses on available for sale securities		$	-		$	359		Net gain on sale of securities available for sale
			-			(130	)	Income tax expense
Total reclassifications, net of tax		$	-		$	229