OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2016

OTHER COMPREHENSIVE INCOME (LOSS)

OTHER COMPREHENSIVE INCOME (LOSS)

18. OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the components of other comprehensive (loss) income and related income tax effects:

	Year Ended December 31,
(In thousands)	2016			2015			2014
Unrealized holding (losses) gains on available for sale securities	$	(6,428	)	$	(2,489	)	$	13,315
Reclassification adjustment for (gains) losses realized in income		(449	)		8			1,090
Income tax effect		2,795			1,047			(5,718	)
Net change in unrealized (losses) gains on available for sale securities		(4,082	)		(1,434	)		8,687
Unrealized net (loss) gain arising during the period		(1,452	)		196			(5,529	)
Reclassification adjustment for amortization realized in income		384			358			(23	)
Income tax effect		438			(174	)		2,204
Net change in post-retirement obligation		(630	)		380			(3,348	)
Change in fair value of derivatives used for cash flow hedges		1,191			(1,008	)		(1,249	)
Reclassification adjustment for losses realized in income		944			657			470
Income tax effect		(865	)		150			309
Net change in unrealized gain (loss) on cash flow hedges		1,270			(201	)		(470	)
Other comprehensive (loss) income	$	(3,442	)	$	(1,255	)	$	4,869

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

(In thousands)	December 31, 2015			Other Comprehensive (Loss) Income			December 31, 2016
Unrealized losses on available for sale securities	$	(4,741	)	$	(4,082	)	$	(8,823	)
Unrealized losses on pension benefits		(4,111	)		(630	)		(4,741	)
Unrealized (losses) gains on cash flow hedges		(770	)		1,270			500
Accumulated other comprehensive loss	$	(9,622	)	$	(3,442	)	$	(13,064	)

The following represents the reclassifications out of accumulated other comprehensive (loss) income:

	Year Ended December 31,									Affected Line Item in the
(In thousands)	2016			2015			2014			Consolidated Statements of Income
Realized gains (losses) on sale of available for sale securities	$	449		$	(8	)	$	(1,090	)	Net securities gain (losses)
Amortization of defined benefit pension plan and defined benefit plan component of the SERP:
Prior service credit		77			77			77		Salaries and employee benefits
Transition obligation		(28	)		(27	)		(27	)	Salaries and employee benefits
Actuarial losses		(433	)		(408	)		(27	)	Salaries and employee benefits
Realized losses on cash flow hedges		(944	)		(657	)		(470	)	Interest expense
Total reclassifications, before income tax	$	(879	)	$	(1,023	)	$	(1,537	)
Income tax benefit		356			414			611		Income tax expense
Total reclassifications, net of income tax	$	(523	)	$	(609	)	$	(926	)