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Note 12 - Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Comprehensive Income (Loss) Note [Text Block]
12.
       Accumulated Other Comprehensive Income (Loss):
 
The following table sets forth the changes in accumulated other comprehensive loss by component for the
three
months ended
September 30, 2017:
 
    Unrealized Gains
(Losses) on
Available for Sale
Securities		   Unrealized Gains
(Losses) on
Cash flow
Hedges		   Defined Benefit
Pension Items		   Total
    (In thousands)
                 
Beginning balance, net of tax   $
(2,110
 )   $
(124
 )   $
(4,342
 )   $
(6,576
 )
Other comprehensive income before reclassifications, net of tax    
(333
 )    
56
      
-
     $
(277
 )
                                 
Amounts reclassified from accumulated other comprehensive income, net of tax    
108
      
-
      
81
      
189
  
                                 
Net current period other comprehensive income, net of tax    
(225
 )    
56
      
81
      
(88
 )
                                 
Ending balance, net of tax   $
(2,335
 )   $
(68
 )   $
(4,261
 )   $
(6,664
 )
 
The following table sets forth the changes in accumulated other comprehensive loss by component for the
three
months ended
September 30, 2016:
 
    Unrealized Gains
(Losses) on
Available for Sale
Securities		   Defined Benefit
Pension Items		   Total
    (In thousands)
             
Beginning balance, net of tax   $
7,923
     $
(4,835
 )   $
3,088
  
Other comprehensive income before reclassifications, net of tax    
(2,942
 )    
-
     $
(2,942
 )
                         
Amounts reclassified from accumulated other comprehensive income, net of tax    
-
      
103
      
103
  
                         
Net current period other comprehensive income, net of tax    
(2,942
 )    
103
      
(2,839
 )
                         
Ending balance, net of tax   $
4,981
     $
(4,732
 )   $
249
  
 
 
PART I – FINANCIAL INFORMATION
FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES
Notes to Consolidated Financial Statements
(Unaudited)
 
The following table sets forth the changes in accumulated other comprehensive loss by component for the
nine
months ended
September 30, 2017:
 
    Unrealized Gains
(Losses) on
Available for Sale
Securities		   Unrealized Gains
(Losses) on
Cash flow
Hedges		   Defined Benefit
Pension Items		   Total
    (In thousands)
                 
Beginning balance, net of tax   $
(3,859
 )   $
-
     $
(4,503
 )   $
(8,362
 )
Other comprehensive income before reclassifications, net of tax    
1,416
      
(68
 )    
-
     $
1,348
  
                                 
Amounts reclassified from accumulated other comprehensive income, net of tax    
108
      
-
      
242
      
350
  
                                 
Net current period other comprehensive income, net of tax    
1,524
      
(68
 )    
242
      
1,698
  
                                 
Ending balance, net of tax   $
(2,335
 )   $
(68
 )   $
(4,261
 )   $
(6,664
 )
 
The following table sets forth the changes in accumulated other comprehensive income by component for the
nine
months ended
September 30, 2016:
 
    Unrealized Gains
(Losses) on
Available for Sale
Securities		   Defined Benefit
Pension Items		   Total
    (In thousands)
             
Beginning balance, net of tax   $
(521
 )   $
(5,041
 )   $
(5,562
 )
Other comprehensive income before reclassifications, net of tax    
6,852
      
-
     $
6,852
  
                         
Amounts reclassified from accumulated other comprehensive income, net of tax    
(1,350
 )    
309
      
(1,041
 )
                         
Net current period other comprehensive income, net of tax    
5,502
      
309
      
5,811
  
                         
Ending balance, net of tax   $
4,981
     $
(4,732
 )   $
249
  
 
 
PART I – FINANCIAL INFORMATION
FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES
Notes to Consolidated Financial Statements
(Unaudited)
 
The following tables set forth significant amounts reclassified from accumulated other comprehensive loss by component for the periods indicated:
 
For the three months ended September 30, 2017
             
    Amounts Reclassified from        
Details about Accumulated Other   Accumulated Other       Affected Line Item in the Statement
Comprehensive Loss Components   Comprehensive Loss       Where Net Income is Presented
    (In thousands)        
Unrealized losses on available for sale securities:   $
(186
 )
 
    
Net loss on sale of securities
     
78
  
 
    
Tax benefit
    $
(108
 )
 
    
Net of tax
                 
Amortization of defined benefit pension items:                
Actuarial losses  
$
(152
)
(1)
  
 
Other operating expense
Prior service credits
 
 
12
(1)
    
Other operating expense
     
(140
 )
 
    
Total before tax
     
59
  
 
    
Tax benefit
    $
(81
 )
 
    
Net of tax
 
For the three months ended September 30, 2016
             
     
Amounts Reclassified from
  
 
    
 
Details about Accumulated Other    
Accumulated Other
  
 
    
Affected Line Item in the Statement
Comprehensive Loss Components    
Comprehensive Loss
  
 
    
Where Net Income is Presented
      (In thousands)          
                 
Amortization of defined benefit pension items:                
Actuarial losses   $
(192
 )
(1)
 
 
Other operating expense
Prior service credits
 
 
11
(1)
    
Other operating expense
     
(181
 )
 
    
Total before tax
     
78
  
 
    
Tax benefit
    $
(103
 )
 
    
Net of tax
 
 
PART I – FINANCIAL INFORMATION
FLUSHING FINANCIAL CORPORATION and SUBSIDIARIES
Notes to Consolidated Financial Statements
(Unaudited)
 
For the nine months ended September 30, 2017
     
 
      
    Amounts Reclassified from
 
      
Details about Accumulated Other   Accumulated Other
 
     Affected Line Item in the Statement
Comprehensive Loss Components   Comprehensive Loss
 
     Where Net Income is Presented
    (In thousands)
 
      
Unrealized losses on available for sale securities:   $
(186
 )
 
    
Net loss on sale of securities
     
78
  
 
    
Tax benefit
    $
(108
 )
 
    
Net of tax
         
 
      
Amortization of defined benefit pension items:        
 
      
Actuarial losses   $
(454
 )
(1)
    
Other operating expense
Prior service credits    
34
(1)
    
Other operating expense
     
(420
 )
 
    
Total before tax
     
178
  
 
    
Tax benefit
    $
(242
 )
 
    
Net of tax
 
For the nine months ended September 30, 2016
    Amounts Reclassified from
 
      
Details about Accumulated Other   Accumulated Other
 
     Affected Line Item in the Statement
Comprehensive Loss Components   Comprehensive Loss
 
     Where Net Income is Presented
(In thousands)
     
 
      
Unrealized gains on available for sale securities:   $
2,363
  
 
    
Net gain on sale of securities
     
(1,013
 )
 
    
Tax expense
    $
1,350
  
 
    
Net of tax
         
 
      
Amortization of defined benefit pension items:        
 
      
Actuarial losses   $
(575
 )
(1)
    
Other operating expense
Prior service credits    
33
(1)
    
Other operating expense
     
(542
 )
 
    
Total before tax
     
233
  
 
    
Tax benefit
    $
(309
 )
 
    
Net of tax
 
(
1
)		 These accumulated other comprehensive income components are included in the computation of net periodic pension cost (See Note
8
of the Notes to Consolidated Financial Statements “Pension and Other Postretirement Benefit Plans”.)