ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

3 Months Ended

Mar. 31, 2014

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME [Abstract]

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

NOTE 6 — ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

The activity in accumulated other comprehensive (loss) income for the three months ended March 31, 2014 and 2013 is as follows:

	Accumulated Other Comprehensive (Loss) Income (1), (2)
	Unrealized gains (losses) on securities available for sale			Defined benefit pension  plan			Total
	(in thousands)
Balance at December 31, 2013	$	176		$	(1,354	)	$	(1,178	)
Other comprehensive income before      reclassifications		812			—			812
Amounts reclassified from accumulated other      comprehensive income		(1	)		42			41
Period change		811			42			853
Balance at March 31, 2014	$	987		$	(1,312	)	$	(325	)
Balance at December 31, 2012	$	3,805		$	(2,835	)	$	970
Other comprehensive loss before      reclassifications		(840	)		—			(840	)
Amounts reclassified from accumulated other      comprehensive income		—			43			43
Period change		(840	)		43			(797	)
Balance at March 31, 2013	$	2,965		$	(2,792	)	$	173

(1	)	All amounts are net of tax. Related income tax expense or benefit is calculated using a Federal income tax rate approximating 34%.
(2	)	Amounts in parenthesis indicate debits.

	Amount reclassified from accumulated other comprehensive income (loss) For the three months ended March 31, (1)						Affected line item in the consolidated statements of net income
	2014			2013
	(in thousands)
Investment securities available for sale
Net securities gains reclassified into earnings	$	(1	)	$	—		Gain on sale of investment securities
Related income tax expense		—			—		Income tax expense
Net effect on accumulated other income (loss) for the period		(1	)		—		Net of tax
Defined benefit pension plan (2)
Amortization of net actuarial loss and prior service cost		62			66		Compensation and benefits
Related income tax expense		(20	)		(23	)	Income tax expense
Net effect on accumulated other comprehensive income (loss) for      the period		42			43
Total reclassification for the period	$	41		$	43		Net income

(1	)	Amounts in parenthesis indicate debits.
(2	)	Included in the computation of net periodic pension cost. See Note 11 – Employee Benefit Plans for additional detail.