Accumulated Other Comprehensive Loss ("AOCL")

3 Months Ended

Mar. 31, 2016

Accumulated Other Comprehensive Loss ("AOCL") [Abstract]

Accumulated Other Comprehensive Loss ("AOCL")

15.   Accumulated Other Comprehensive Loss (“AOCL”)

A summary of changes in AOCL follows:

	Unrealized Gains (Losses) on Available for Sale Securities			Dispropor- tionate Tax Effects from Securities Available for Sale			Total
For the three months ended March 31,
2016
Balances at beginning of period	$	(238	)	$	(5,798	)	$	(6,036	)
Other comprehensive income before reclassifications		1,349			-			1,349
Amounts reclassified from AOCL		(112	)		-			(112	)
Net current period other comprehensive income		1,237			-			1,237
Balances at end of period	$	999		$	(5,798	)	$	(4,799	)
2015
Balances at beginning of period	$	162		$	(5,798	)	$	(5,636	)
Other comprehensive income before reclassifications		1,483			-			1,483
Amounts reclassified from AOCL		(49	)		-			(49	)
Net current period other comprehensive income		1,434			-			1,434
Balances at end of period	$	1,596		$	(5,798	)	$	(4,202	)

The disproportionate tax effects from securities available for sale arose due to tax effects of other comprehensive income (“OCI”) in the presence of a valuation allowance against our deferred tax assets and a pretax loss from operations.  Generally, the amount of income tax expense or benefit allocated to operations is determined without regard to the tax effects of other categories of income or loss, such as OCI. However, an exception to the general rule is provided when, in the presence of a valuation allowance against deferred tax assets, there is a pretax loss from operations and pretax income from other categories in the current period.  In such instances, income from other categories must offset the current loss from operations, the tax benefit of such offset being reflected in operations.

A summary of reclassifications out of each component of AOCL for the three months ended March 31 follows:

AOCL Component	Amount Reclassified From AOCL		Affected Line Item in Condensed  Consolidated Statements of Operations
	(In thousands)
2016
Unrealized losses on securities available for sale
	$	174	Net gains on securities
		-	Net impairment loss recognized in earnings
		174	Total reclassifications before tax
		62	Income tax expense
	$	112	Reclassifications, net of tax
2015
Unrealized losses on securities available for sale
	$	75	Net gains on securities
		-	Net impairment loss recognized in earnings
		75	Total reclassifications before tax
		26	Income tax expense
	$	49	Reclassifications, net of tax