Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2014

Other Comprehensive Income Loss

Other Comprehensive Income (Loss)

9. Other Comprehensive Income (Loss)

The following table presents reclassifications out of the accumulated other comprehensive income for the three month periods ended March 31, 2014 and 2013.

	Three months ended March 31, 2014
(in thousands)	Before-Tax Amount			Tax (Expense) Benefit			Net of Tax
Available-for-sale securities:
Change in net unrealized gain/loss during the period	$	8,815		$	(3,525	)	$	5,290
Reclassification adjustment for net realized gain on sale of available-for-sale securities included in net income		(94	)		38			(56	)
Net unrealized losses		8,721			(3,487	)		5,234
Employee benefit plans:
Amortization of net retirement plan actuarial gain		320			(128	)		192
Amortization of net retirement plan prior service cost		14			(6	)		8
Employee benefit plans		334			(134	)		200
Other comprehensive income (loss)	$	9,055		$	(3,621	)	$	5,434

	Three months ended March 31, 2013
(in thousands)	Before-Tax Amount			Tax (Expense) Benefit			Net of Tax
Available-for-sale securities:
Change in net unrealized gain/loss during the period	$	(5,463	)	$	2,185		$	(3,278	)
Reclassification adjustment for net realized gain on sale of available-for-sale securities included in net income		(367	)		147			(220	)
Reclassification adjustment for credit impairment on available-for-sale
Net unrealized gains		(5,830	)		2,332			(3,498	)
Employee benefit plans:
Amortization of net retirement plan actuarial loss		654			(261	)		393
Amortization of net retirement plan prior service cost		14			(6	)		8
Amortization of net retirement plan transition liability		13			(5	)		8
Employee benefit plans		681			(272	)		409
Other comprehensive (loss) income	$	(5,149	)	$	2,060		$	(3,089	)

The following table presents the activity in our accumulated other comprehensive income for the periods indicated:

(in thousands)	Available-for-Sale Securities			Employee Benefit Plans			Accumulated Other Comprehensive Income
Balance at January 1, 2013	$	26,356		$	(28,462	)	$	(2,106	)
Other comprehensive (loss) income before reclassifications		(3,278	)		0			(3,278	)
Amounts reclassified from accumulated other comprehensive income		(220	)		409			189
Net current-period other comprehensive loss		(3,498	)		409			(3,089	)
Balance at March 31, 2013	$	22,858		$	(28,053	)	$	(5,195	)
Balance at January 1, 2014	$	(8,357	)	$	(16,762	)	$	(25,119	)
Other comprehensive income (loss) before reclassifications		5,290			0			5,290
Amounts reclassified from accumulated other comprehensive (loss) income		(56	)		200			144
Net current-period other comprehensive income		5,234			200			5,434
Balance at March 31, 2014	$	(3,123	)	$	(16,562	)	$	(19,685	)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income for the three months ended March 31, 2014 and 2013.

Three months ended March 31, 2014
Details about Accumulated other Comprehensive Income Components (in thousands)	Amount Reclassified from Accumulated Other Comprehensive Income1			Affected Line Item in the Statement Where Net Income is Presented
Available-for-sale securities:
Unrealized gains and losses on available-for-sale securities	$	94		Net gain on securities transactions
		(38	)	Tax expense
		56		Net of tax
Employee benefit plans:
Amortization of the following 2
Net retirement plan actuarial loss		(320	)
Net retirement plan prior service cost		(14	)
		(334	)	Total before tax
		134		Tax benefit
		(200	)	Net of tax

¹ Amounts in parentheses indicated debits in income statement 

² The accumulated other comprehensive income components are included in the computation of net periodic benefit cost (See Note 10 - "Employee Benefit Plan")

Three months ended March 31, 2013
Details about Accumulated other Comprehensive Income Components (in thousands)	Amount Reclassified from Accumulated Other Comprehensive Income1			Affected Line Item in the Statement Where Net Income is Presented
Available-for-sale securities:
Unrealized gains and losses on available-for-sale securities	$	367		Net gain on securities transactions
		(147	)	Tax expense
		220		Net of tax
Employee benefit plans:
Amortization of the following 2
Net retirement plan actuarial loss		(654	)
Net retirement plan prior service cost		(14	)
Net retirement plan transition liability		(13	)
		(681	)	Total before tax
		272		Tax benefit
		(409	)	Net of tax

¹ Amounts in parentheses indicated debits in income statement 

² The accumulated other comprehensive income components are included in the computation of net periodic benefit cost (See Note 10 - "Employee Benefit Plan")