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Other Comprehensive Income (Tables)
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Components of Other Comprehensive Income (Loss)
The following table presents the components of other comprehensive (loss) income both gross and net of tax, for the three and nine months ended September 30, 2016 and 2015 (in thousands):
 
 
Three months ended September 30,
 
 
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 (losses) gains arising during the period
 
$
(2,575
)
 
1,034

 
(1,541
)
 
6,146

 
(2,468
)
 
3,678

Reclassification adjustment for losses included in net income
 
43

 
(17
)
 
26

 
—

 
—

 
—

Total
 
(2,532
)
 
1,017

 
(1,515
)
 
6,146

 
(2,468
)
 
3,678

Unrealized gains (losses) on derivatives (cash flow hedges)
 
384

 
(154
)
 
230

 
(388
)
 
156

 
(232
)
Amortization related to post-retirement obligations
 
236

 
(95
)
 
141

 
193

 
(78
)
 
115

Total other comprehensive (loss) income
 
$
(1,912
)
 
768

 
(1,144
)
 
5,951

 
(2,390
)
 
3,561

 
 
Nine months ended September 30,
 
 
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
 
$
14,260

 
(5,727
)
 
8,533

 
4,111

 
(1,651
)
 
2,460

Reclassification adjustment for gains included in net income
 
(54
)
 
22

 
(32
)
 
(645
)
 
259

 
(386
)
Total
 
14,206

 
(5,705
)
 
8,501

 
3,466

 
(1,392
)
 
2,074

Unrealized losses on derivatives (cash flow hedges)
 
(603
)
 
242

 
(361
)
 
(388
)
 
156

 
(232
)
Amortization related to post-retirement obligations
 
635

 
(255
)
 
380

 
379

 
(152
)
 
227

Total other comprehensive income
 
$
14,238

 
(5,718
)
 
8,520

 
3,457

 
(1,388
)
 
2,069
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 nine months ended September 30, 2016 and 2015 (in thousands):
 
 
Changes in Accumulated Other Comprehensive Income by Component, net of tax
for the three months ended September 30,
 
 
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
 
Unrealized (losses) on Derivatives (cash flow hedges)
 
Accumulated
Other
Comprehensive
Income
Balance at
June 30,
 
$
13,967

 
(6,185
)
 
(664
)
 
7,118

 
6,139

 
(7,602
)
 
—

 
(1,463
)
Current period other comprehensive (loss) income
 
(1,515
)
 
141

 
230

 
(1,144
)
 
3,678

 
115

 
(232
)
 
3,561

Balance at September 30,
 
$
12,452

 
(6,044
)
 
(434
)
 
5,974

 
9,817

 
(7,487
)
 
(232
)
 
2,098


 
 
Changes in Accumulated Other Comprehensive Income by Component, net of tax
for the nine months ended September 30,
 
 
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
 
Unrealized (losses) on Derivatives (cash flow hedges)
 
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 (loss)
 
8,501

 
380

 
(361
)
 
8,520

 
2,074

 
227

 
(232
)
 
2,069

Balance at September 30,
 
$
12,452

 
(6,044
)
 
(434
)
 
5,974

 
9,817

 
(7,487
)
 
(232
)
 
2,098
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 nine months ended September 30, 2016 and 2015 (in thousands):
 
 
Reclassifications From Accumulated Other Comprehensive
Income ("AOCI")
 
 
Amount reclassified from AOCI for the three months ended September 30,
 
Affected line item in the Consolidated
Statement of Income
 
 
2016
 
2015
 
Details of AOCI:
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
Realized net losses on the sale of securities available for sale
 
$
(43
)
 
—

 
Net gain on securities transactions
 
 
17

 
—

 
Income tax expense
 
 
(26
)
 
—

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

 
193

 
Compensation and employee benefits (1)
 
 
(95
)
 
(78
)
 
Income tax expense
 
 
141

 
115

 
Net of tax
Total reclassifications
 
$
115

 
115

 
Net of tax

 
 
Reclassifications From Accumulated Other Comprehensive
Income ("AOCI")
 
 
Amount reclassified from AOCI for the nine months ended September 30,
 
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
 
$
54

 
645

 
Net gain on securities transactions
 
 
(22
)
 
(259
)
 
Income tax expense
 
 
32

 
386

 
Net of tax
 
 
 
 
 
 
 
Post-retirement obligations:
 
 
 
 
 
 
Amortization of actuarial losses
 
708

 
581

 
Compensation and employee benefits (1)
 
 
(284
)
 
(233
)
 
Income tax expense
 
 
424

 
348

 
Net of tax
Total reclassifications
 
$
456

 
734

 
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.