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Other Comprehensive Income (Tables)
 3 Months Ended
Mar. 31, 2016
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 months ended March 31, 2016 and 2015 (in thousands):
 
 
Three months ended March 31,
 
 
2016
 
2015
 
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
Components of Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains and losses on securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
Net gains arising during the period
 
$
11,856

 
(4,762
)
 
7,094

 
6,202

 
(2,491
)
 
3,711

Reclassification adjustment for gains included in net income
 
(96
)
 
39

 
(57
)
 
(2
)
 
1

 
(1
)
Total
 
11,760

 
(4,723
)
 
7,037

 
6,200

 
(2,490
)
 
3,710

Unrealized losses on derivatives (cash flow hedges)
 
(704
)
 
283

 
(421
)
 
—

 
—

 
—

Amortization related to post-retirement obligations
 
165

 
(66
)
 
99

 
(7
)
 
3

 
(4
)
Total other comprehensive income
 
$
11,221

 
(4,506
)
 
6,715

 
6,193

 
(2,487
)
 
3,706
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 months ended March 31, 2016 and 2015 (in thousands):
 
 
Changes in Accumulated Other Comprehensive Income by Component, net of tax
For the three months ended March 31,
 
 
2016
 
2015
 
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post  Retirement
Obligations
 
Unrealized (losses) on Derivatives (cash flow hedges)
 
Accumulated
Other
Comprehensive
Income
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post  Retirement
Obligations
 
Accumulated
Other
Comprehensive
Income
Balance at December 31,
 
$
3,951

 
(6,424
)
 
(73
)
 
(2,546
)
 
7,743

 
(7,714
)
 
29

Current - period other comprehensive income
 
7,037

 
99

 
(421
)
 
6,715

 
3,710

 
(4
)
 
3,706

Balance at March 31,
 
$
10,988

 
(6,325
)
 
(494
)
 
4,169

 
11,453

 
(7,718
)
 
3,735
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 months ended March 31, 2016 and 2015 (in thousands):
 
 
Reclassifications Out of Accumulated Other Comprehensive
Income ("AOCI")
 
 
Amount reclassified from AOCI for the three months ended March 31,
 
Affected line item in the Consolidated
Statement of Income
 
 
2016
 
2015
 
Details of AOCI:
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
Realized net gains on the sale of securities available for sale
 
$
96

 
2

 
Net gain on securities transactions
 
 
(39
)
 
(1
)
 
Income tax expense
 
 
57

 
1

 
Net of tax
 
 
 
 
 
 
 
Post-retirement obligations:
 
 
 
 
 
 
Amortization of actuarial losses
 
236

 
194

 
Compensation and employee benefits (1)
 
 
(95
)
 
(79
)
 
Income tax expense
 
 
141

 
115

 
Net of tax
Total reclassifications
 
$
198

 
116

 
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.