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Note 14 - Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

14. Accumulated Other Comprehensive Income (Loss):

The following tables sets forth the changes in accumulated other comprehensive income (loss) by component for the periods indicated:

		For the three months ended September 30, 2019
		Unrealized Gains				Unrealized Gains
		(Losses) on				(Losses) on								Fair Value
		Available for Sale				Cash flow				Defined Benefit				Option Elected
		Securities				Hedges				Pension Items				on Liabilities				Total
		(In thousands)

Beginning balance, net of tax		$	(3,815	)		$	(6,132	)		$	(1,658	)		$	989			$	(10,616	)

Other comprehensive income before reclassifications, net of tax			(475	)			(1,664	)			-				61				(2,078	)

Amounts reclassified from accumulated other comprehensive income, net of tax							(282	)			7				-				(275	)

Net current period other comprehensive income (loss), net of tax			(475	)			(1,946	)			7				61				(2,353	)

Ending balance, net of tax		$	(4,290	)		$	(8,078	)		$	(1,651	)		$	1,050			$	(12,969	)

		For the three months ended September 30, 2018
		Unrealized Gains				Unrealized Gains
		(Losses) on				(Losses) on								Fair Value
		Available for Sale				Cash flow				Defined Benefit				Option Elected
		Securities				Hedges				Pension Items				on Liabilities				Total
		(In thousands)

Beginning balance, net of tax		$	(16,501	)		$	8,027			$	(4,325	)		$	792			$	(12,007	)

Other comprehensive income before reclassifications, net of tax			(3,505	)			1,950				-				9				(1,546	)

Amounts reclassified from accumulated other comprehensive income, net of tax			-				(80	)			84				-				4

Net current period other comprehensive income (loss), net of tax			(3,505	)			1,870				84				9				(1,542	)

Ending balance, net of tax		$	(20,006	)		$	9,897			$	(4,241	)		$	801			$	(13,549	)

		For the nine months ended September 30, 2019
		Unrealized Gains				Unrealized Gains
		(Losses) on				(Losses) on								Fair Value
		Available for Sale				Cash flow				Defined Benefit				Option Elected
		Securities				Hedges				Pension Items				on Liabilities				Total
		(In thousands)

Beginning balance, net of tax		$	(15,649	)		$	3,704			$	(1,673	)		$	866			$	(12,752	)

Other comprehensive income before reclassifications, net of tax			11,349				(10,914	)			-				184				619

Amounts reclassified from accumulated other comprehensive income, net of tax			10				(868	)			22				-				(836	)

Net current period other comprehensive income (loss), net of tax			11,359				(11,782	)			22				184				(217	)

Ending balance, net of tax		$	(4,290	)		$	(8,078	)		$	(1,651	)		$	1,050			$	(12,969	)

		For the nine months ended September 30, 2018
		Unrealized Gains				Unrealized Gains
		(Losses) on				(Losses) on								Fair Value
		Available for Sale				Cash flow				Defined Benefit				Option Elected
		Securities				Hedges				Pension Items				on Liabilities				Total
		(In thousands)

Beginning balance, net of tax		$	(5,522	)		$	231			$	(3,695	)		$	-			$	(8,986	)
Reclassification of the Income Tax Effects of the Tax Cuts and Jobs Act from AOCL to Retained Earnings			(1,325	)			50				(798	)			-				(2,073	)
Impact of adoption of Accounting Standard Update 2016-01			-				-				-				779				779

Other comprehensive income before reclassifications, net of tax			(13,159	)			9,455				-				22				(3,682	)

Amounts reclassified from accumulated other comprehensive income (loss), net of tax			-				161				252				-				413

Net current period other comprehensive income, net of tax			(13,159	)			9,616				252				22				(3,269	)

Ending balance, net of tax		$	(20,006	)		$	9,897			$	(4,241	)		$	801			$	(13,549	)

The following tables set forth significant amounts reclassified from accumulated other comprehensive income (loss) by component for the periods indicated:

For the three months ended September 30, 2019

		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 (losses) on available for sale securities		$	-			Net loss on sale of securities
			-			Provision for income taxes
		$	-			Net of tax
Cash flow hedges:
Interest rate swaps		$	409			Other interest expense
			(127	)		Provision for income taxes
		$	282			Net of tax
Amortization of defined benefit pension items:
Actuarial gain (losses)		$	(33	)⁽¹⁾		Other operating expense
Prior service credits			22	⁽¹⁾		Other operating expense
			(11	)		Total before tax
			4			Provision for income taxes
		$	(7	)		Net of tax

For the three months ended September 30, 2018

		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)

Cash flow hedges:
Interest rate swaps		$	116			Other interest expense
			(36	)		Tax expense
		$	80			Net of tax
Amortization of defined benefit pension items:
Actuarial losses		$	(132	)⁽¹⁾		Other operating expense
Prior service credits			10	⁽¹⁾		Other operating expense
			(122	)		Total before tax
			38			Tax benefit
		$	(84	)		Net of tax

For the nine months ended September 30, 2019

		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 (losses) on available for sale securities		$	(15	)		Net loss on sale of securities
			5			Provision for income taxes
		$	(10	)		Net of tax
Cash flow hedges:
Interest rate swaps		$	1,257			Other interest income
			(389	)		Provision for income taxes
		$	868			Net of tax
Amortization of defined benefit pension items:
Actuarial gain (losses)		$	(96	)⁽¹⁾		Other operating expense
Prior service credits			64	⁽¹⁾		Other operating expense
			(32	)		Total before tax
			10			Provision for income taxes
		$	(22	)		Net of tax

For the nine months ended September 30, 2018

		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)

Cash flow hedges:
Interest rate swaps		$	(235	)		Interest expense
			74			Tax benefit
		$	(161	)		Net of tax

Amortization of defined benefit pension items:
Actuarial losses		$	(396	)⁽¹⁾		Other operating expense
Prior service credits			28	⁽¹⁾		Other operating expense
			(368	)		Total before tax
			116			Tax benefit
		$	(252	)		Net of tax

1.	These accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 10 (“Pension and Other Postretirement Benefit Plans”) for additional information.