OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 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:

	For The Three Months Ended						For The Nine Months Ended
(In thousands)	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
Unrealized holding (losses) gains on available for sale securities	$	(3,699	)	$	35		$	(18,213	)	$	(605	)
Reclassification adjustment for gains realized in income	(11		)	(186		)	(659		)	(2,179		)
Income tax effect	1,473			60			7,492			1,105
Net change in unrealized (loss) gain on available for sale securities	(2,237		)	(91		)	(11,380		)	(1,679		)
Change in post-retirement obligation	73			72			218			216
Income tax effect	(29		)	(29		)	(86		)	(86		)
Net change in post-retirement obligation	44			43			132			130
Change in fair value of derivatives used for cash flow hedges	(549		)	(170		)	(262		)	(203		)
Reclassification adjustment for gains realized in income	—			—			—			—
Income tax effect	218			68			104			81
Net change in unrealized loss on cash flow hedge	(331		)	(102		)	(158		)	(122		)
Total	$	(2,524	)	$	(150	)	$	(11,406	)	$	(1,671	)

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

	Balance as of						Balance as of
	December 31,			Current Period			September 30,
(In thousands)	2012			Change			2013
Unrealized gains (losses) on available for sale securities	$	2,738		$	(11,380	)	$	(8,642	)
Unrealized losses on pension benefits	(3,050		)	132			(2,918		)
Unrealized losses on cash flow hedges	(106		)	(158		)	(264		)
Total	$	(418	)	$	(11,406	)	$	(11,824	)

The following represents the reclassifications out of accumulated other comprehensive income for the three and nine months ended September 30, 2013 and 2012:

	Three Months Ended						Nine Months Ended						Affected Line Item
(In thousands)	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012			in the Consolidated Statements of Income
Unrealized gains (losses) on available for sale securities:
Realized gain on sale of available for sale securities	$	11		$	186		$	659		$	2,179		Net securities gains
Income tax expense	(4		)	(74		)	(262		)	(865		)	Income tax expense
Net of income tax	$	7		$	112		$	397		$	1,314
Amortization of defined benefit pension plan and the defined benefit plan component of the SERP:
Prior service credit (cost)	$	19		$	(3	)	$	58		$	(8	)	Salaries and employee benefits
Transition obligation	(7		)	(7		)	(21		)	(21		)	Salaries and employee benefits
Actuarial losses	(86		)	(63		)	(254		)	(187		)	Salaries and employee benefits
	$	(74	)	$	(73	)	$	(217	)	$	(216	)
Income tax benefit	29			29			86			86			Income tax expense
Net of income tax	$	(45	)	$	(44	)	$	(131	)	$	(130	)
Total reclassifications, net of tax	$	(38	)	$	68		$	266		$	1,184