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Stockholders' Equity and Earnings per Common Share
 12 Months Ended
Dec. 31, 2015
Stockholders' Equity and Earnings Per Common Share [Abstract]  
Stockholders' Equity and Earnings Per Common Share
NOTE 11, Stockholders' Equity and Earnings per Common Share

STOCKHOLDERS' EQUITY -- OTHER COMPREHENSIVE INCOME (LOSS)
The following table presents information on amounts reclassified out of accumulated other comprehensive loss, by category, during the periods indicated:

  
Years Ended
  
  
December 31,
 
Affected Line Item on
 Consolidated Statement of Income
  
2015
  
2014
 
  
(in thousands)
  
Available-for-sale securities
         
Realized gains (losses) on sales of securities
 
$
76
  
$
2
 
  Gain (loss) on sale of available-for-sale securities, net
Tax effect
  
26
   
1
 
  Income tax (benefit) expense
  
$
50
  
$
1
  
Defined-benefit pension plan
             
Amortization of actuarial loss (1)
 
$
(390
)
 
$
(251
)
  Salaries and employee benefits
Tax effect
  
(133
)
  
(85
)
  Income tax benefit
  
$
(257
)
 
$
(166
)
 
               
Total reclassifications for the period
 
$
(207
)
 
$
(165
)
 
(1) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost (see Note 14. Pension Plan for additional details).

The following table presents the changes in accumulated other comprehensive loss, by category, net of tax, for the periods indicated:

 
 
Unrealized Gains (Losses) on Available-for-Sale Securities
  
Unrealized Losses on Securities Transferred from Available-for-Sale to Held-to-Maturity (1)
  
Defined Benefit Pension Plans
  
Accumulated Other Comprehensive Loss
 
  
(in thousands)
 
         
Balance at December 31, 2013
 
$
(5,317
)
 
$
(3,937
)
 
$
(1,548
)
 
$
(10,802
)
Net change for the year ended December 31, 2014
  
5,239
   
551
   
(881
)
  
4,909
 
Balance at December 31, 2014
  
(78
)
  
(3,386
)
  
(2,429
)
  
(5,893
)
                 
Net change for the year ended December 31, 2015
  
(498
)
  
3,386
   
(157
)
  
2,731
 
Balance at December 31, 2015
 
$
(576
)
 
$
0
  
$
(2,586
)
 
$
(3,162
)
 
(1) Net change for the year ended December 31, 2015 represents reclassification due to the transfer of securities held-to-maturity to available-for-sale. See Note 3. Securities.
 

The following table presents the change in each component of other comprehensive income on a pre-tax and after-tax basis for the periods indicated.

  
Year Ended December 31, 2015
 
 
 
Pretax
  
Tax Effect
  
Net-of-Tax
 
  
(in thousands)
 
Unrealized losses on available-for-sale securities:
      
Unrealized holding losses arising during the period
 
$
(679
)
 
$
(231
)
 
$
(448
)
Reclassification adjustment for gains recognized in income
  
(76
)
  
(26
)
  
(50
)
Net unrealized losses on securities
  
(755
)
  
(257
)
  
(498
)
             
Unrealized losses on securities transferred from available-for-sale to held-to-maturity:
            
Elimination upon transfer back to available-for-sale
  
4,197
   
1,427
   
2,770
 
Amortization
  
934
   
318
   
616
 
Net change
  
5,131
   
1,745
   
3,386
 
             
Defined benefit pension plans:
            
Net actuarial loss for the period
  
(627
)
  
(213
)
  
(414
)
Amortization of actuarial loss from prior period
  
390
   
133
   
257
 
Net change
  
(237
)
  
(80
)
  
(157
)
             
Total change in accumulated other comprehensive loss
 
$
4,139
  
$
1,408
  
$
2,731
 

  
Year Ended December 31, 2014
 
 
 
Pretax
  
Tax Effect
  
Net-of-Tax
 
  
(in thousands)
 
Unrealized gains on available-for-sale securities:
      
Unrealized holding gains arising during the period
 
$
7,940
  
$
2,700
  
$
5,240
 
Reclassification adjustment for gains recognized in income
  
(2
)
  
(1
)
  
(1
)
Net change
  
7,938
   
2,699
   
5,239
 
             
Unrealized losses on securities transferred from available-for-sale to held-to-maturity:
            
Amortization
  
835
   
284
   
551
 
Net change
  
835
   
284
   
551
 
             
Defined benefit pension plans:
            
Net actuarial loss for the period
  
(1,587
)
  
(540
)
  
(1,047
)
Amortization of actuarial loss from prior period
  
251
   
85
   
166
 
Net change
  
(1,336
)
  
(455
)
  
(881
)
             
Total change in accumulated other comprehensive loss
 
$
7,437
  
$
2,528
  
$
4,909
 

EARNINGS PER COMMON SHARE
Earnings per common share has been computed based on the following:

 
Years Ended December 31,
 
 
2015
  
2014
 
 
(dollars in thousands)
 
Net income (in thousands)
 
$
3,634
  
$
4,116
 
 
        
Average number of common shares outstanding
  
4,959,009
   
4,959,009
 
Effect of dilutive options
  
0
   
0
 
Average number of common shares outstanding used to calculate diluted earnings per common share
  
4,959,009
   
4,959,009
 

The Company did not include an average of 76 thousand and 117 thousand potential common shares attributable to outstanding stock options in the diluted earnings per share calculation for 2015 and 2014, respectively, because they were antidilutive.