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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Shareholders’ equity is affected by transactions and valuations of asset and liability positions that require adjustments to accumulated other comprehensive income (loss).  The related tax effects allocated to other comprehensive income and reclassifications out of accumulated other comprehensive income (loss) are as follows:

 
Three months ended March 31, 2015
 
Total other comprehensive income
 
Total accumulated
other comprehensive income
(Dollars in thousands)
Prior to
Reclassification
 
Reclassification
from
 
Pre-tax
 
Tax-effect
 
Net of tax
 
Beginning Balance
 
Net Activity
 
Ending Balance
Unrealized gain (loss) on investment securities
$
7,808

 
$
0

 
$
7,808

 
$
(2,800
)
 
$
5,008

 
$
(2,506
)
 
$
5,008

 
$
2,502

Unrealized gain (loss) on derivatives
(1,293
)
 
0

 
(1,293
)
 
477

 
(816
)
 
(949
)
 
(816
)
 
(1,765
)
Retirement obligation
0

 
(350
)
 
350

 
(167
)
 
183

 
(17,904
)
 
183

 
(17,721
)
Foreign currency translation
(20
)
 
0

 
(20
)
 
0

 
(20
)
 
(50
)
 
(20
)
 
(70
)
Total
$
6,495

 
$
(350
)
 
$
6,845

 
$
(2,490
)
 
$
4,355

 
$
(21,409
)
 
$
4,355

 
$
(17,054
)

 
Three months ended March 31, 2014
 
Total other comprehensive income
 
Total accumulated
other comprehensive income
(Dollars in thousands)
Prior to
Reclassification
 
Reclassification
from
 
Pre-tax
 
Tax-effect
 
Net of tax
 
Beginning Balance
 
Net Activity
 
Ending Balance
Unrealized gain (loss) on investment securities
$
6,098

 
$
50

 
$
6,048

 
$
(2,186
)
 
$
3,862

 
$
(16,289
)
 
$
3,862

 
$
(12,427
)
Unrealized gain (loss) on derivatives
(844
)
 
(115
)
 
(729
)
 
272

 
(457
)
 
602

 
(457
)
 
145

Retirement obligation
0

 
(378
)
 
378

 
(141
)
 
237

 
(15,565
)
 
237

 
(15,328
)
Foreign currency translation
(9
)
 
0

 
(9
)
 
0

 
(9
)
 
(29
)
 
(9
)
 
(38
)
Total
$
5,245

 
$
(443
)
 
$
5,688

 
$
(2,055
)
 
$
3,633

 
$
(31,281
)
 
$
3,633

 
$
(27,648
)

The following table presents the activity reclassified from accumulated other comprehensive income into income during the three month period:
 
Amount reclassified from
accumulated other comprehensive income (1)
 
 
 
Three months ended
 
 
 
March 31,
 
 
(Dollars in thousands)
2015
 
2014
 
Affected Line Item in the Consolidated Statements of Income
Gains and losses on cash flow hedges
 
 
 
 
 
Interest rate contracts
$
0

 
$
(115
)
 
Interest expense - deposits
Realized gains and losses on securities available-for-sale
0

 
50

 
Gains on sales of investments securities
Defined benefit pension plan
 
 
 
 
 
Amortization of prior service cost (2)
100

 
103

 
Salaries and employee benefits
Recognized net actuarial loss (2)
(450
)
 
(481
)
 
Salaries and employee benefits
Amortization and settlement charges of defined benefit pension items
(350
)
 
(378
)
 
Salaries and employee benefits
Total reclassifications for the period, before tax
$
(350
)
 
$
(443
)
 
 
(1) Negative amount are reductions to net income.
(2) Included in the computation of net periodic pension cost (see Note 12 - Employee Benefit Plans for additional details).