Other Comprehensive Income

3 Months Ended

Mar. 31, 2015

Other Comprehensive Income [Abstract]

NOTE 6 – OTHER COMPREHENSIVE INCOME

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income.

The components of other comprehensive income, both before tax and net of tax, are as follows:


	Three Months Ended March 31, 2015						Three Months Ended March 31, 2014
	Before Tax		Tax Effect		Net of Tax		Before Tax		Tax Effect		Net of Tax
(Dollars in thousands)
Other comprehensive income:
Unrealized gains on available for sale securities	$	316	$	127	$	189	$	1,717	$	687	$	1,030
Reclassification adjustment for net gains on securities transactions included in net income		(168)		(67)		(101)		-		-		-
Total other comprehensive income	$	148	$	60	$	88	$	1,717	$	687	$	1,030

Reclassification adjustments for gains on securities transactions of $168 thousand for the three months ended March 31, 2015 are presented in the income statement on the line item for net gain on securities transactions. There were no reclassification adjustments for gains on securities transactions for the three months ended March 31, 2014.