Accumulated Other Comprehensive Loss ("AOCL")

9 Months Ended

Sep. 30, 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 Securities Available for Sale			Dispropor- tionate Tax Effects from Securities Available for Sale			Total
For the three months ended September 30,
2016
Balances at beginning of period	$	2,515		$	(5,798	)	$	(3,283	)
Other comprehensive income before reclassifications		278			-			278
Amounts reclassified from AOCL		(10	)		-			(10	)
Net current period other comprehensive income		268			-			268
Balances at end of period	$	2,783		$	(5,798	)	$	(3,015	)
2015
Balances at beginning of period	$	408		$	(5,798	)	$	(5,390	)
Other comprehensive income before reclassifications		894			-			894
Amounts reclassified from AOCL		-			-			-
Net current period other comprehensive income		894			-			894
Balances at end of period	$	1,302		$	(5,798	)	$	(4,496	)
For the nine months ended September 30,
2016
Balances at beginning of period	$	(238	)	$	(5,798	)	$	(6,036	)
Other comprehensive income before reclassifications		3,215			-			3,215
Amounts reclassified from AOCL		(194	)		-			(194	)
Net current period other comprehensive income		3,021			-			3,021
Balances at end of period	$	2,783		$	(5,798	)	$	(3,015	)
2015
Balances at beginning of period	$	162		$	(5,798	)	$	(5,636	)
Other comprehensive income before reclassifications		1,189			-			1,189
Amounts reclassified from AOCL		(49	)		-			(49	)
Net current period other comprehensive income		1,140			-			1,140
Balances at end of period	$	1,302		$	(5,798	)	$	(4,496	)

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 September 30 follows:

AOCL Component	Amount Reclassified From AOCL		Affected Line Item in Condensed Consolidated Statements of Operations
	(In thousands)
2016
Unrealized gains on securities available for sale
	$	15	Net gains on securities
		-	Net impairment loss recognized in earnings
		15	Total reclassifications before tax
		5	Income tax expense
	$	10	Reclassifications, net of tax
2015
Unrealized gains on securities available for sale
	$	-	Net gains on securities
		-	Net impairment loss recognized in earnings
		-	Total reclassifications before tax
		-	Income tax expense
	$	-	Reclassifications, net of tax

A summary of reclassifications out of each component of AOCL for the nine months ended September 30 follows:

AOCL Component	Amount Reclassified From AOCL		Affected Line Item in Condensed Consolidated Statements of Operations
	(In thousands)
2016
Unrealized gains on securities available for sale
	$	298	Net gains on securities
		-	Net impairment loss recognized in earnings
		298	Total reclassifications before tax
		104	Income tax expense
	$	194	Reclassifications, net of tax
2015
Unrealized gains 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