Shareholders' Equity and Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Shareholders' Equity and Other Comprehensive Income (Loss)

NOTE 18 – SHAREHOLDERS’ EQUITY AND OTHER COMPREHENSIVE INCOME (LOSS)

Other Comprehensive Income

The following is a summary of the tax effects of each component of other comprehensive income for the years ended December 31:

	2014
(Dollars in thousands)	Before Tax			Tax Expense			Net-of-Tax Amount
Unrealized gain on securities:
Unrealized holding gains arising during the period	$	37,719		$	(13,202	)	$	24,517
Reclassification adjustment for gains included in net income		(771	)		270			(501	)
Net unrealized gains		36,948			(12,932	)		24,016
Fair value of derivative instruments designated as cash flow hedges
Change in fair value of derivative instruments designated as cash flow hedges during the period	$	—		$	—		$	—
Reclassification adjustment for losses included in net income		—			—			—
Fair value of derivative instruments designated as cash flow hedges		—			—			—
Total other comprehensive income	$	36,948		$	(12,932	)	$	24,016
	2013
(Dollars in thousands)	Before Tax			Tax  Benefit			Net-of-Tax Amount
Unrealized loss on securities:
Unrealized holding losses arising during the period	$	(62,095	)	$	21,733		$	(40,362	)
Reclassification adjustment for gains included in net income		(2,277	)		797			(1,480	)
Net unrealized losses		(64,372	)		22,530			(41,842	)
Fair value of derivative instruments designated as cash flow hedges
Change in fair value of derivative instruments designated as cash flow hedges during the period	$	953		$	(333	)	$	620
Reclassification adjustment for losses included in net income		391			(137	)		254
Fair value of derivative instruments designated as cash flow hedges		1,344			(470	)		874
Total other comprehensive loss	$	(63,028	)	$	22,060		$	(40,968	)
	2012
(Dollars in thousands)	Before Tax			Tax Expense			Net-of-Tax Amount
Unrealized loss on securities:
Unrealized holding gains arising during the period	$	2,174		$	(761	)	$	1,413
Reclassification adjustment for gains included in net income		(3,739	)		1,308			(2,431	)
Net unrealized losses		(1,565	)		547			(1,018	)
Fair value of derivative instruments designated as cash flow hedges
Change in fair value of derivative instruments designated as cash flow hedges during the period	$	(22	)	$	8		$	(14	)
Reclassification adjustment for losses included in net income		1,618			(566	)		1,052
Fair value of derivative instruments designated as cash flow hedges		1,596			(558	)		1,038
Total other comprehensive income	$	31		$	(11	)	$	20