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Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
Components of Other Comprehensive Income (Loss)
The following table presents the components of other comprehensive income (loss) both gross and net of tax, for the three and six months ended June 30, 2014 and 2013 (in thousands):
 
 
Three months ended June 30,
 
 
2014
 
2013
 
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
Components of Other Comprehensive Income (Loss):
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains and losses on securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
Net gains (losses) arising during the period
 
$
10,188

 
(3,849
)
 
6,339

 
$
(21,239
)
 
8,677

 
(12,562
)
Reclassification adjustment for gains included in net income
 
(110
)
 
45

 
(65
)
 
(423
)
 
173

 
(250
)
Total
 
10,078

 
(3,804
)
 
6,274

 
(21,662
)
 
8,850

 
(12,812
)
Amortization related to post-retirement obligations
 
(1,041
)
 
426

 
(615
)
 
342

 
(140
)
 
202

Total other comprehensive income (loss)
 
$
9,037

 
(3,378
)
 
5,659

 
$
(21,320
)
 
8,710

 
(12,610
)
 
 
Six months ended June 30,
 
 
2014
 
2013
 
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
Components of Other Comprehensive Income (Loss):
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains and losses on securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
Net gains (losses) arising during the period
 
$
16,475

 
(6,417
)
 
10,058

 
$
(23,977
)
 
9,795

 
(14,182
)
Reclassification adjustment for losses (gains) included in net income
 
240

 
(98
)
 
142

 
(934
)
 
382

 
(552
)
Total
 
16,715

 
(6,515
)
 
10,200

 
(24,911
)
 
10,177

 
(14,734
)
Amortization related to post-retirement obligations
 
(1,121
)
 
458

 
(663
)
 
781

 
(320
)
 
461

Total other comprehensive income (loss) income
 
$
15,594

 
(6,057
)
 
9,537

 
$
(24,130
)
 
9,857

 
(14,273
)
Components of Accumulated Other Comprehensive Income, Net of Tax
The following tables present the changes in the components of accumulated other comprehensive income, net of tax, for the three and six months ended June 30, 2014 and 2013 (in thousands):
 
 
Changes in Accumulated Other Comprehensive Income by Component, net of tax
For the three months ended June 30,
 
 
2014
 
2013
 
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post  Retirement
Obligations
 
Accumulated
Other
Comprehensive
Income
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post  Retirement
Obligations
 
Accumulated
Other
Comprehensive
Income
Balance at March 31,
 
$
1,127

 
(2,100
)
 
(973
)
 
$
15,039

 
(8,986
)
 
6,053

Current period change in other comprehensive income (loss)
 
6,274

 
(615
)
 
5,659

 
(12,812
)
 
202

 
(12,610
)
Balance at June 30,
 
$
7,401

 
(2,715
)
 
4,686

 
$
2,227

 
(8,784
)
 
(6,557
)
  
 
Changes in Accumulated Other Comprehensive Income by Component, net of tax
For the six months ended June 30,
 
 
2014
 
2013
 
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post Retirement
Obligations
 
Accumulated
Other
Comprehensive
Income
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post Retirement
Obligations
 
Accumulated
Other
Comprehensive
Income
Balance at December 31,
 
$
(2,799
)
 
(2,052
)
 
(4,851
)
 
$
16,961

 
(9,245
)
 
7,716

Current period change in other comprehensive income (loss)
 
10,200

 
(663
)
 
9,537

 
(14,734
)
 
461

 
(14,273
)
Balance at June 30,
 
$
7,401

 
(2,715
)
 
4,686

 
$
2,227

 
(8,784
)
 
(6,557
)
Summary of Reclassifications Out of Accumulated Other Comprehensive Income
The following tables summarize the reclassifications out of accumulated other comprehensive income to the consolidated statements of income for the three and six months ended June 30, 2014 and 2013 (in thousands):
 
 
Reclassifications Out of Accumulated Other Comprehensive
Income ("AOCI")
 
 
Amount reclassified from AOCI for the three months ended June 30,
 
Affected line item in the Consolidated
Statement of Income
 
 
2014
 
2013
 
Details of AOCI:
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
Realized net gains on the sale of securities available for sale
 
$
110

 
$
423

 
Net gain on securities transactions
 
 
(45
)
 
(173
)
 
Income tax expense
 
 
65

 
250

 
Net of tax
 
 
 
 
 
 
 
Post retirement obligations:
 
 
 
 
 
 
Amortization of actuarial losses (gains)
 
42

 
342

 
Compensation and employee benefits (1)
 
 
(17
)
 
(140
)
 
Income tax expense
 
 
25

 
202

 
Net of tax
 
 
 
 
 
 
 
Realized loss related to lump sum pension settlement
 
(1,336
)
 
—

 
Compensation and employee benefits 
 
 
546

 
—

 
Income tax expense
 
 
(790
)
 
—

 
Net of tax
Total reclassifications
 
$
(700
)
 
$
452

 
Net of tax
 
 
Reclassifications Out of Accumulated Other Comprehensive
Income
 
 
Amount reclassified from AOCI for the six months ended June 30,
 
Affected line item in the Consolidated
Statement of Income
 
 
2014
 
2013
 
Details of AOCI:
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
Realized net losses on the sale of securities available for sale
 
$
(240
)
 
$
934

 
Net (loss) gain on securities transactions
 
 
98

 
(382
)
 
Income tax expense
 
 
(142
)
 
552

 
Net of tax
 
 
 
 
 
 
 
Post retirement obligations:
 
 
 
 
 
 
Amortization of actuarial losses (gains)
 
84

 
684

 
Compensation and employee benefits (1)
 
 
(34
)
 
(279
)
 
Income tax expense
 
 
50

 
405

 
Net of tax
 
 
 
 
 
 
 
Realized loss related to lump sum pension settlement
 
(1,336
)
 
—

 
Compensation and employee benefits 
 
 
546

 
—

 
Income tax expense
 
 
(790
)
 
—

 
Net of tax
Total reclassifications
 
$
(1,394
)
 
$
957

 
Net of tax
(1)
This item is included in the computation of net periodic benefit cost. See Note 6. Components of Net Periodic Benefit Cost.