ACCUMULATED OTHER COMPREHENSIVE INCOME (AOCI)

6 Months Ended

Jun. 30, 2014

ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI") [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME ("AOCI")

2. ACCUMULATED OTHER COMPREHENSIVE INCOME (“AOCI”)

The changes in the Company’s AOCI by component, net of tax, for the three and six months ended June 30, 2014 and 2013 follow (in thousands). The increase in net unrealized gains on available for sale securities for the three and six months ended June 30, 2014 resulted almost solely from the positive impact of a reduction in interest rates in 2014.

	Three Months Ended June 30, 2014									Three Months Ended June 30, 2013
	Unrealized Gains and Losses on Available for Sale Securities			Pension and Post-Retirement Plan Items			Total			Unrealized Gains and Losses on Available for Sale Securities			Pension and Post-Retirement Plan Items			Total
Beginning balance	$	(1,007	)	$	(3,194	)	$	(4,201	)	$	9,333		$	(7,667	)	$	1,666
Other comprehensive income (loss) before reclassifications		2,079			-			2,079			(9,201	)		(277	)		(9,478	)
Amounts reclassified from AOCI		14			-			14			(21	)		-			(21	)
Net other comprehensive income (loss)		2,093			-			2,093			(9,222	)		(277	)		(9,499	)
Ending balance	$	1,086		$	(3,194	)	$	(2,108	)	$	111		$	(7,944	)	$	(7,833	)

	Six Months Ended June 30, 2014									Six Months Ended June 30, 2013
	Unrealized Gains and Losses on Available for Sale Securities			Pension and Post-Retirement Plan Items			Total			Unrealized Gains and Losses on Available for Sale Securities			Pension and Post-Retirement Plan Items			Total
Beginning balance	$	(4,095	)	$	(3,194	)	$	(7,289	)	$	10,553		$	(7,667	)	$	2,886
Other comprehensive income (loss) before reclassifications		5,167			-			5,167			(10,192	)		(277	)		(10,469	)
Amounts reclassified from AOCI		14			-			14			(250	)		-			(250	)
Net other comprehensive income (loss)		5,181			-			5,181			(10,442	)		(277	)		(10,719	)
Ending balance	$	1,086		$	(3,194	)	$	(2,108	)	$	111		$	(7,944	)	$	(7,833	)

The table below presents reclassifications out of AOCI for the three and six months ended June 30, 2014 and 2013 (in thousands).

	Amount Reclassified from AOCI
	Three Months Ended June 30,						Affected Line Item in the Statement
Details about AOCI Components	2014			2013			Where Net Income is Presented
Unrealized gains and losses on available for sale securities	$	(23	)	$	33		Net (loss) gain on sale of securities available for sale
		9			(12	)	Income tax expense
Total reclassifications, net of tax	$	(14	)	$	21

	Amount Reclassified from AOCI
	Six Months Ended June 30,						Affected Line Item in the Statement
Details about AOCI Components	2014			2013			Where Net Income is Presented
Unrealized gains and losses on available for sale securities	$	(23	)	$	392		Net (loss) gain on sale of securities available for sale
		9			(142	)	Income tax expense
Total reclassifications, net of tax	$	(14	)	$	250