OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2016

OTHER COMPREHENSIVE INCOME (LOSS)

OTHER COMPREHENSIVE INCOME (LOSS)

13. OTHER COMPREHENSIVE INCOME (LOSS)

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

	Three Months Ended						Nine Months Ended
(In thousands)	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Unrealized holding (losses) gains on available for sale securities	$	(3,173	)	$	3,950		$	9,292		$	5,212
Reclassification adjustment for (gains) losses realized in income		-			-			(449	)		10
Income tax effect		1,287			(1,599	)		(3,580	)		(2,070	)
Net change in unrealized (losses) gains on available for sale securities		(1,886	)		2,351			5,263			3,152
Reclassification adjustment for amortization realized in income		95			91			288			268
Income tax effect		(38	)		(37	)		(112	)		(52	)
Net change in post-retirement obligation		57			54			176			216
Change in fair value of derivatives used for cash flow hedges		764			(837	)		(1,920	)		(1,535	)
Reclassification adjustment for losses realized in income		236			175			725			485
Income tax effect		(405	)		268			486			432
Net change in unrealized gain (loss) on cash flow hedges		595			(394	)		(709	)		(618	)
Total	$	(1,234	)	$	2,011		$	4,730		$	2,750

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

				Current Period
(In thousands)	December 31, 2015			Change			September 30, 2016
Unrealized (losses) gains on available for sale securities	$	(4,741	)	$	5,263		$	522
Unrealized (losses) gains on pension benefits		(4,111	)		176			(3,935	)
Unrealized losses on cash flow hedges		(770	)		(709	)		(1,479	)
Total	$	(9,622	)	$	4,730		$	(4,892	)

The following represents the reclassifications out of accumulated other comprehensive income for the three and nine months ended September 30, 2016 and 2015:

	Three Months Ended						Nine Months Ended						Affected Line Item
	September 30,			September 30,			September 30,			September 30,			in the Consolidated
(In thousands)	2016			2015			2016			2015			Statements of Income
Realized gains (losses) on sale of available for sale securities	$	-		$	-		$	449		$	(10	)	Net securities gains (losses)
Amortization of defined benefit pension plan and defined benefit plan component of the SERP:
Prior service cost		20			19			58			58		Salaries and employee benefits
Transition obligation		(7	)		(7	)		(21	)		(21	)	Salaries and employee benefits
Actuarial losses		(108	)		(103	)		(325	)		(305	)	Salaries and employee benefits
Realized losses on cash flow hedges		(236	)		(175	)		(725	)		(485	)	Interest expense
Total reclassifications, before income tax	$	(331	)	$	(266	)	$	(564	)	$	(763	)
Income tax benefit		134			108			229			309		Income tax expense
Total reclassifications, net of income tax	$	(197	)	$	(158	)	$	(335	)	$	(454	)