Changes in Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income

Note 3 – Changes in Accumulated Other Comprehensive Income

Comprehensive income is divided into net income and other comprehensive income. The components of the Company’s accumulated other comprehensive income are unrealized gains and (losses) on securities available for sale and unrecognized gains and (losses) associated with the defined benefit postretirement plan. Changes to other comprehensive income are presented net of tax in the Statements of Comprehensive Income. Reclassifications out of accumulated other comprehensive income are recorded in the Consolidated Statements of Income.

The following tables illustrate the disclosure of changes in the balances of each component of accumulated other comprehensive income for the periods presented:

	Three Months Ended June 30,
	2016									2015
(In thousands)	Unrealized Gains and Losses on Available- for-Sale			Defined Benefit Pension Items			Total			Unrealized Gains and Losses on Available- for-Sale			Defined Benefit Pension Items			Total
Beginning balance	$	797		($	569	)	$	228		$	563		($	342	)	$	221
Other comprehensive income (loss) before reclassifications		581			—			581			(506	)		—			(506	)
Amounts reclassified from accumulated other comprehensive income(1)		(334	)		—			(334	)		41			—			41
Tax effect of current period changes(2)		(84	)		—			(84	)		158			—			158
Net current-period other comprehensive income (loss)		163			—			163			(307	)		—			(307	)
Ending balance	$	960		($	569	)	$	391		$	256		($	342	)	($	86	)

⁽¹⁾  Included in gain (loss) on sale of available for sale securities on the Consolidated Statements of Income.

⁽²⁾  Included in tax expense on the Consolidated Statements of Income.

	Six Months Ended June 30,
	2016									2015
(In thousands)	Unrealized Gains and Losses on Available- for-Sale			Defined Benefit Pension Items			Total			Unrealized Gains and Losses on Available- for-Sale			Defined Benefit Pension Items			Total
Beginning balance	$	461		($	569	)	($	108	)	$	477		($	342	)	$	135
Other comprehensive income (loss) before reclassifications		1,088			—			1,088			(376	)		—			(376	)
Amounts reclassified from accumulated other comprehensive income(1)		(332	)		—			(332	)		41			—			41
Tax effect of current period changes(2)		(257	)		—			(257	)		114			—			114
Net current-period other comprehensive income (loss)		499			—			499			(221	)		—			(221	)
Ending balance	$	960		($	569	)	$	391		$	256		($	342	)	($	86	)

⁽¹⁾  Included in gain (loss) on sale of available for sale securities on the Consolidated Statements of Income.

⁽²⁾  Included in tax expense on the Consolidated Statements of Income.