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OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
12 Months Ended
Dec. 31, 2014
OTHER COMPREHENSIVE INCOME (LOSS)  
Schedule of other comprehensive income (loss) components and related income tax effects

 

Years Ended December 31,

 

2014

 

2013

 

2012

 

(In thousands)

 

 

 

 

 

 

 

Unrealized holding (losses) gains on available for sale securities

 

$

13,315

 

$

(23,771

)

$

(2,321

)

Reclassification adjustment for gains realized in income

 

1,090

 

(659

)

(2,647

)

Income tax effect

 

(5,718

)

9,698

 

1,972

 

Net change in unrealized (loss) gain on available for sale securities

 

8,687

 

(14,732

)

(2,996

)

 

 

 

 

 

 

 

 

Change in post-retirement obligation

 

(5,552

)

3,162

 

425

 

Income tax effect

 

2,204

 

(1,255

)

(169

)

Net change in post-retirement obligation

 

(3,348

)

1,907

 

256

 

 

 

 

 

 

 

 

 

Change in fair value of derivatives used for cash flow hedges

 

(779

)

12

 

(176

)

Reclassification adjustment for gains realized in income

 

 

 

 

Income tax effect

 

309

 

(5

)

70

 

Net change in unrealized gain (loss) on cash flow hedge

 

(470

)

7

 

(106

)

 

 

 

 

 

 

 

 

Total

 

$

4,869

 

$

(12,818

)

$

(2,846

)

 

Summary of the accumulated other comprehensive income balances, net of income tax

 

Details about Accumulated Other Comprehensive Income

 

Balance as of
January 1, 2014

 

Current
Period
Change

 

Balance as of
December 31, 2014

 

(In thousands)

 

 

 

 

 

 

 

Unrealized gains (losses) on available for sale securities

 

$

(11,994

)

$

8,687

 

$

(3,307

)

Unrealized (losses) on pension benefits

 

(1,143

)

(3,348

)

(4,491

)

Unrealized (losses) on cash flow hedges

 

(99

)

(470

)

(569

)

Total

 

$

(13,236

)

$

4,869

 

$

(8,367

)

 

Schedule of reclassifications out of accumulated other comprehensive income

 

 

 

 

 

 

 

Details about accumulated Other Comprehensive Income

 

Amount Reclassified
from Accumulated
Other Comprehensive
Income

 

Affected Line Item in the
Consolidated Statements of
Income

 

(In thousands)

 

 

 

 

 

Realized losses on sale of available for sale securities

 

$

(1,090

)

Net securities losses

 

Income tax expense

 

433

 

Income tax expense

 

Net of income tax

 

(657

)

 

 

 

 

 

 

 

 

Amortization of defined benefit pension plan and the defined benefit plan component of the SERP:

 

 

 

 

 

Prior service credit

 

$

77

 

Salaries and employee benefits

 

Transition obligation

 

(28

)

Salaries and employee benefits

 

Actuarial losses

 

(27

)

Salaries and employee benefits

 

 

 

22

 

 

 

Income tax benefit

 

(9

)

 

 

Net of income tax

 

13

 

Income tax expense

 

Total reclassifications, net of tax

 

$

(644

)

 

 

 

 

 

 

 

 

 

 

Details about accumulated Other Comprehensive Income

 

Amount Reclassified
from Accumulated
Other Comprehensive
Income

 

Affected Line Item in the
Consolidated Statements of
Income

 

(In thousands)

 

 

 

 

 

Realized gain on sale of available for sale securities

 

$

659

 

Net securities gains

 

Income tax expense

 

(262

)

Income tax expense

 

Net of income tax

 

397

 

 

 

 

 

 

 

 

 

Amortization of defined benefit pension plan and the defined benefit plan component of the SERP:

 

 

 

 

 

Prior service credit

 

$

77

 

Salaries and employee benefits

 

Transition obligation

 

(28

)

Salaries and employee benefits

 

Actuarial losses

 

(340

)

Salaries and employee benefits

 

 

 

(291

)

 

 

Income tax benefit

 

116

 

 

 

Net of income tax

 

(175

)

Income tax expense

 

Total reclassifications, net of tax

 

$

222