NOTE 7 ACCUMULATED OTHER COMPREHENSIVE INCOME OR LOSS

Accumulated other comprehensive income or loss represents the net unrealized holding gains or losses on securities available for sale and the funded status of the Corporation's defined benefit pension plan and other benefit plans, as of the consolidated balance sheet dates, net of the related tax effect.

The following is a summary of the changes in accumulated other comprehensive income or loss by component, net of tax, for the periods indicated (in thousands):

	Unrealized Gains and Losses on Securities Available for Sale			Defined Benefit and Other Benefit Plans			Total
Balance at January 1, 2015	$	1,960		$	(10,745	)	$	(8,785	)
Other comprehensive income before reclassification		805			-			805
Amounts reclassified from accumulated other comprehensive income		(31	)		224			193
Net current period other comprehensive gain		774			224			998
Balance at March 31, 2015	$	2,734		$	(10,521	)	$	(7,787	)

	Unrealized Gains and Losses on Securities Available for Sale		Defined Benefit and Other Benefit Plans			Total
Balance at January 1, 2014	$	6,043	$	(5,888	)	$	155
Other comprehensive income before reclassification		544		-			544
Amounts reclassified from accumulated other comprehensive income		-		88			88
Net current period other comprehensive gain		544		88			632
Balance at March 31, 2014	$	6,587	$	(5,800	)	$	787

The following is the reclassification out of accumulated other comprehensive income for the periods indicated (in thousands):

Details about Accumulated Other Comprehensive Income Components	Three Months Ended March 31,						Affected Line Item in the Statement Where Net Income is Presented
	2015			2014
Unrealized gains and losses on securities available for sale:
Reclassification adjustment for other-than- temporary gains (losses) realized in income	$	-		$	-
Realized gains on securities available for sale		50			-		Net gains on securities transactions
Tax effect		(19	)		-		Income tax expense
Net of tax		31			-
Amortization of defined pension plan and other benefit plan items:
Prior service costs (a)		(22	)		(22	)	Pension and other employee benefits
Actuarial losses (a)		383			165		Pension and other employee benefits
Tax effect		(137	)		(55	)	Income tax expense
Net of tax		224			88
Total reclassification for the period, net of tax	$	224		$	88

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension and other benefit plan costs (see Note 9 for additional information).