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Other Comprehensive Income (Tables)
 3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Components of Other Comprehensive Income (Loss)
The following table presents the components of other comprehensive income both gross and net of tax, for the three months ended March 31, 2017 and 2016 (in thousands):
 
 
Three months ended March 31,
 
 
2017
 
2016
 
 
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
 
$
1,287

 
(516
)
 
771

 
11,856

 
(4,762
)
 
7,094

Reclassification adjustment for gains included in net income
 
—

 
—

 
—

 
(96
)
 
39

 
(57
)
Total
 
1,287

 
(516
)
 
771

 
11,760

 
(4,723
)
 
7,037

Unrealized gains (losses) on derivatives (cash flow hedges)
 
92

 
(37
)
 
55

 
(704
)
 
283

 
(421
)
Amortization related to post-retirement obligations
 
53

 
(21
)
 
32

 
165

 
(66
)
 
99

Total other comprehensive income
 
$
1,432

 
(574
)
 
858

 
11,221

 
(4,506
)
 
6,715
Components of Accumulated Other Comprehensive Income, Net of Tax
The following tables present the changes in the components of accumulated other comprehensive (loss) income, net of tax, for the three months ended March 31, 2017 and 2016 (in thousands):
 
 
Changes in Accumulated Other Comprehensive (Loss) Income by Component, net of tax
for the three months ended March 31,
 
 
2017
 
2016
 
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post  Retirement
Obligations
 
Unrealized gains on Derivatives (cash flow hedges)
 
Accumulated
Other
Comprehensive (Loss)
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,
 
$
(510
)
 
(3,056
)
 
169

 
(3,397
)
 
3,951

 
(6,424
)
 
(73
)
 
(2,546
)
Current period other comprehensive income
 
771

 
32

 
55

 
858

 
7,037

 
99

 
(421
)
 
6,715

Balance at March 31,
 
$
261

 
(3,024
)
 
224

 
(2,539
)
 
10,988

 
(6,325
)
 
(494
)
 
4,169


 
 
 
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, 2017 and 2016 (in thousands):
 
 
Reclassifications From 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
 
 
2017
 
2016
 
Details of AOCI:
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
Realized net losses on the sale of securities available for sale
 
$
—

 
96

 
Net gain on securities transactions
 
 
—

 
(39
)
 
Income tax expense
 
 
—

 
57

 
Net of tax
 
 
 
 
 
 
 
Post-retirement obligations:
 
 
 
 
 
 
Amortization of actuarial losses
 
61

 
236

 
Compensation and employee benefits (1)
 
 
(24
)
 
(95
)
 
Income tax expense
 
 
37

 
141

 
Net of tax
Total reclassifications
 
$
37

 
198

 
Net of tax

 
 
 
(1) 
This item is included in the computation of net periodic benefit cost. See Note 5. Components of Net Periodic Benefit Cost.