OTHER COMPREHENSIVE INCOME (LOSS)

3 Months Ended

Mar. 31, 2013

OTHER COMPREHENSIVE INCOME (LOSS)

OTHER COMPREHENSIVE INCOME (LOSS)

13. OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) components and related income tax effects were as follows:

	Three Months Ended
(In thousands)	March 31, 2013			March 31, 2012
Unrealized holding losses on available for sale securities	$	(669	)	$	(434	)
Reclassification adjustment for gains realized in income	(338		)	(272		)
Income tax effect	400			280
Net change in unrealized (loss) gain on available for sale securities	(607		)	(426		)
Change in post-retirement obligation	64			73
Income tax effect	(25		)	(29		)
Net change in post-retirement obligation	39			44
Change in fair value of derivatives used for cash flow hedges	28			—
Reclassification adjustment for gains realized in income	—			—
Income tax effect	(11		)	—
Net change in unrealized loss on cash flow hedge	17			—
Total	$	(551	)	$	(382	)

The following is a summary of the accumulated other comprehensive income balances, net of income tax:

(In thousands)	Balance as of December 31, 2012			Current Period Change			Balance as of March 31, 2013
Unrealized gains on available for sale securities	$	2,738		$	(607	)	$	2,131
Unrealized losses on pension benefits	(3,050		)	39			(3,011		)
Unrealized losses on cash flow hedges	(106		)	17			(89		)
Total	$	(418	)	$	(551	)	$	(969	)

The following represents the reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2013 and 2012:

							Affected Line Item
	Three Months Ended						in the Consolidated
(In thousands)	March 31, 2013			March 31, 2012			Statements of Income
Unrealized gains (losses) on available for sale securities:
Realized gain on sale of available for sale securities	$	338		$	272		Net securities gains
Income tax expense	(134		)	(108		)	Income tax expense
Net of tax	$	204		$	164
Amortization of defined benefit pension plan and the defined benefit plan component of the SERP:
Prior service credit (cost)	$	19		$	(3	)	Salaries and employee benefits
Transition obligation	(7		)	(7		)	Salaries and employee benefits
Actuarial losses	(76		)	(63		)	Salaries and employee benefits
	$	(64	)	$	(73	)
Income tax benefit	25			29			Income tax expense
Net of tax	$	(39	)	$	(44	)
Total reclassifications, net of tax	$	165		$	120