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Stockholders' Equity and Earnings per Common Share
 12 Months Ended
Dec. 31, 2017
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 Income (loss), by category, during the periods indicated:

  
Years Ended
December 31,
 
Affected Line Item on
Consolidated Statement of Income
  
2017
 
2016
  
2015
 
  
(in thousands)
      
Available-for-sale securities
         
Realized gains (losses) on sales of securities
 
$
96
  
$
522
  
$
76
 
Gain (loss) on sale of available-for-sale securities, net
Tax effect
  
33
   
177
   
26
 
Income tax expense (benefit)
  
$
63
  
$
345
  
$
50
  
Defined-benefit pension plan
             
Amortization of actuarial loss (1)
 
$
(490
)
 
$
(504
)
 
$
(390
)
Salaries and employee benefits
Tax effect
  
(167
)
  
(171
)
  
(133
)
Income tax expense (benefit)
  
$
(323
)
 
$
(333
)
 
$
(257
)
 
               
Total reclassifications for the period
 
$
(260
)
 
$
12
  
$
(207
)
 

(1) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost (see Note 14. Pension Plan and 401(k) Plan for additional details).
 
The following table presents the changes in accumulated other comprehensive Income (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 (2)
  
Accumulated
Other
Comprehensive
Income (Loss)
 
  
(in thousands)
 
             
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
)
  
-
   
(2,586
)
  
(3,162
)
                 
Net change for the year ended December 31, 2016
  
(1,163
)
  
-
   
117
   
(1,046
)
Balance at December 31, 2016
 
$
(1,739
)
 
$
-
  
$
(2,469
)
 
$
(4,208
)
  
Net change for the year ended December 31, 2017
  
1,032
   
-
   
2,469
   
3,501
 
Balance at December 31, 2017
 
$
(707
)
 
$
-
  
$
-
  
$
(707
)

(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.
(2) Net change reflects termination and settlement of the pension plan during year ended December 31, 2017.

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

  
Year Ended December 31, 2017
 
  
Pretax
  
Tax Effect
  
Net-of-Tax
 
  
(in thousands)
 
Unrealized gains on available-for-sale securities:
         
Unrealized holding gains arising during the period
 
$
1,659
  
$
564
  
$
1,095
 
Reclassification adjustment for gains recognized in income
  
(96
)
  
(33
)
  
(63
)
Net unrealized gains on securities
  
1,563
   
531
   
1,032
 
             
Defined benefit pension plans:
            
Plan termination, settlement and net amortization
  
3,741
   
1,272
   
2,469
 
             
Total change in accumulated other comprehensive income
 
$
5,304
  
$
1,803
  
$
3,501
 

  
Year Ended December 31, 2016
 
  
Pretax
  
Tax Effect
  
Net-of-Tax
 
  
(in thousands)
 
Unrealized losses on available-for-sale securities:
         
Unrealized holding losses arising during the period
 
$
(1,240
)
 
$
(422
)
 
$
(818
)
Reclassification adjustment for gains recognized in income
  
(522
)
  
(177
)
  
(345
)
Net change
  
(1,762
)
  
(599
)
  
(1,163
)
             
Defined benefit pension plans:
            
Net actuarial loss for the period
  
(327
)
  
(111
)
  
(216
)
Amortization of actuarial loss from prior period
  
504
   
171
   
333
 
Net change
  
177
   
60
   
117
 
             
Total change in accumulated other comprehensive loss
 
$
(1,585
)
 
$
(539
)
 
$
(1,046
)
 
  
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 change
  
(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
 

EARNINGS PER COMMON SHARE
Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding during the period, including the effect of dilutive potential common shares attributable to outstanding stock options.

The following is a reconciliation of the denominators of the basic and diluted EPS computations for the years ended December 31, 2017, 2016, and 2015:

  
Net Income
Available to
Common
Shareholders
(Numerator)
  
Weighted
Average
Common
Shares
(Denominator)
  
Per
Share
Amount
 
  
(in thousands except per share data)
 
Year Ended December 31, 2017
         
Net income, basic
 
$
(29
)
  
4,991
  
$
(0.01
)
Potentially dilutive common shares - stock options
  
-
   
-
   
-
 
Potentially dilutive common shares - employee stock purchase program
  
-
   
-
   
-
 
Diluted
 
$
(29
)
  
4,991
  
$
(0.01
)
             
Year Ended December 31, 2016
            
Net income, basic
 
$
3,797
   
4,959
  
$
0.77
 
Potentially dilutive common shares - stock options
  
-
   
2
   
-
 
Potentially dilutive common shares - employee stock purchase program
  
-
   
-
   
-
 
Diluted
 
$
3,797
   
4,961
  
$
0.77
 
             
Year Ended December 31, 2015
            
Net income, basic
 
$
3,634
   
4,959
  
$
0.73
 
Potentially dilutive common shares - stock options
  
-
   
-
   
-
 
Potentially dilutive common shares - employee stock purchase program
  
-
   
-
   
-
 
Diluted
 
$
3,634
   
4,959
  
$
0.73
 
 
The Company had no antidilutive shares in 2017. The Company did not include an average of 52 thousand and 76 thousand potential common shares attributable to outstanding stock options in the diluted earnings per share calculation for 2016 and 2015, respectively, because they were antidilutive. Non-vested restricted common shares, which carry all rights and privileges of a common share with respect to the stock, including the right to vote, were included in the basic and diluted per common share calculations.