Change in Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2014

Equity [Abstract]

Change in Accumulated Other Comprehensive Income (Loss)

14. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) includes unrealized gains and losses on available-for-sale investments as well as unrecognized prior service costs, transition costs and actuarial gains and losses on defined benefit pension plans which reflects changes made to the post retirement benefit obligation for retiree health and life insurance. These changes were effective March 31, 2014 (see footnote 9 “Associate (Employee) Benefit Plans” for further information). Changes to other accumulated other comprehensive income (loss) are presented net of tax effect as a component of equity. Reclassification out of accumulated other comprehensive is recorded on the statement of operations either as a gain or loss.

Changes to accumulated other comprehensive income (loss) by component are shown net of taxes in the following tables for the period indicated:

(in thousands)	Net unrealized (losses) gains  on investment securities available-for-sale			Net unrealized losses on defined benefit pension plan			Total
Balance, June 30, 2014	$	(2,583	)	$	(412	)	$	(2,995	)
Other comprehensive income (loss) before reclassifications		(778	)		5			(773	)
Less: Amounts reclassified from accumulated other comprehensive income (loss)		(23	)		—			(23	)
Net current-period other comprehensive income (loss)		(801	)		5			(796	)
Balance, September 30, 2014	$	(3,384	)	$	(407	)	$	(3,791	)
Balance, June 30, 2013	$	(12,309	)	$	(472	)	$	(12,781	)
Other comprehensive income (loss) before reclassifications		(3,106	)		—			(3,106	)
Less: Amounts reclassified from accumulated other comprehensive income (loss)		(190	)		—			(190	)
Net current-period other comprehensive income (loss)		(3,296	)		—			(3,296	)
Balance, September 30, 2013	$	(15,605	)	$	(472	)	$	(16,077	)

(in thousands)	Net unrealized (losses) gains on investment securities available-for-sale			Net unrealized losses on defined benefit pension plan			Total
Balance, December 31, 2013	$	(20,822	)	$	(472	)	$	(21,294	)
Other comprehensive income (loss) before reclassifications		18,046			65			18,111
Less: Amounts reclassified from accumulated other comprehensive income (loss)		(608	)		—			(608	)
Net current-period other comprehensive income (loss)		17,438			65			17,503
Balance, September 30, 2014	$	(3,384	)	$	(407	)	$	(3,791	)
Balance, December 31, 2012	$	13,415		$	(472	)	$	12,943
Other comprehensive income (loss) before reclassifications		(27,249	)		—			(27,249	)
Less: Amounts reclassified from accumulated other comprehensive income (loss)		(1,771	)		—			(1,771	)
Net current-period other comprehensive income (loss)		(29,020	)		—		$	(29,020	)
Balance, September 30, 2013	$	(15,605	)	$	(472	)	$	(16,077	)

The statement of operations impacted by components of other comprehensive income are presented in the table below.

	Three Months Ended September 30,						Affected line item in Statements of Operations
(in thousands)	2014			2013
Securities available-for-sale:
Realized gains on securities transactions	$	36		$	306		Securities gains, net
Income taxes		(13	)		(116	)	Income tax provision
Net of tax	$	23		$	190
Amortization of Defined Benefit Pension Items:
Prior service costs	$	22		$	—
Transition obligation		—			—
Actuarial losses		(14	)		—
Total before tax	$	8		$	—		Salaries, benefits and other compensation
Income taxes		(3	)		—		Income tax provision
Net of tax	$	5		$	—
Total reclassifications	$	18		$	190

	Nine Months Ended September 30,						Affected line item in Statements of Operations
	2014			2013
Securities available-for-sale:
Realized gains on securities transactions	$	979		$	2,856		Securities gains, net
Income taxes		(371	)		(1,085	)	Income tax provision
Net of tax	$	608		$	1,771
Amortization of Defined Benefit Pension Items:
Prior service costs	$	905		$	—
Transition obligation		245			—
Actuarial losses		(1,046	)		—
Total before tax	$	104		$	—		Salaries, benefits and other compensation
Income taxes		(39	)		—		Income tax provision
Net of tax	$	65		$	—
Total reclassifications	$	543		$	1,771