Note 10 – Accumulated Other Comprehensive Loss

The following table presents the changes in each component of accumulated other comprehensive loss for the 12 months ended December 31, 2014 and the three-month period ended March 31, 2015:



(in thousands)	Investment securities- with OTTI AFS		Investment securities- all other AFS			Investment securities- HTM	Cash Flow Hedge		Pension Plan		SERP		Total
Accumulated OCL, net:
Balance - January 1, 2014	$	(7,623)	$	(11,292)	$	0	$	(274)	$	(5,088)	$	64	$	(24,213)
Other comprehensive income/(loss) before reclassifications		4,349		8,712		(2,395)		155		(6,513)		(319)		3,989
Amounts reclassified from accumulated other comprehensive income		(405)		25		140		0		209		22		(9)
Balance - December 31, 2014	$	(3,679)	$	(2,555)	$	(2,255)	$	(119)	$	(11,392)	$	(233)	$	(20,233)
Other comprehensive income/(loss) before reclassifications		1,670		621		0		21		(202)		0		2,110
Amounts reclassified from accumulated other comprehensive income		(100)		58		70		0		112		10		150
Balance – March 31, 2015	$	(2,109)	$	(1,876)	$	(2,185)	$	(98)	$	(11,482)	$	(223)	$	(17,973)

The following tables present the components of comprehensive income for the three-month periods ended March 31, 2015 and 2014:


Components of Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended March 31, 2015
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	2,778	$	(1,108)	$	1,670
Less: accretable yield recognized in income		167		(67)		100
Net unrealized gains on investments with OTTI		2,611		(1,041)		1,570

Available for sale securities – all other:
Unrealized holding gains		1,032		(411)		621
Less: losses recognized in income		(97)		39		(58)
Net unrealized gains on all other AFS securities		1,129		(450)		679

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(116)		46		(70)
Net unrealized gains on HTM securities		116		(46)		70

Cash flow hedges:
Unrealized holding gains		35		(14)		21

Pension Plan:
Unrealized net actuarial loss		(334)		132		(202)
Less: amortization of unrecognized loss		(186)		74		(112)
Less: amortization of transition asset		5		(2)		3
Less: amortization of prior service costs		(3)		0		(3)
Net pension plan liability adjustment		(150)		60		(90)

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(12)		5		(7)
Less: amortization of prior service costs		(5)		2		(3)
Net SERP liability adjustment		17		(7)		10
Other comprehensive income	$	3,758	$	(1,498)	$	2,260


Components of Comprehensive Income/(Loss) (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended March 31, 2014
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	4,549	$	(1,819)	$	2,730
Less: accretable yield recognized in income		160		(64)		96
Net unrealized gains on investments with OTTI		4,389		(1,755)		2,634

Available for sale securities – all other:
Unrealized holding gains		4,990		(1,995)		2,995
Less: losses recognized in income		(68)		27		(41)
Net unrealized gains on all other AFS securities		5,058		(2,022)		3,036

Cash flow hedges:
Unrealized holding gains		92		(37)		55

Pension Plan:
Unrealized net actuarial loss		(298)		119		(179)
Less: amortization of unrecognized loss		(93)		37		(56)
Less: amortization of transition asset		10		(4)		6
Less: amortization of prior service costs		(3)		1		(2)
Net pension plan liability adjustment		(212)		85		(127)

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized gain		4		(1)		3
Less: amortization of prior service costs		(5)		1		(4)
Net SERP liability adjustment		1		0		1
Other comprehensive income	$	9,328	$	(3,729)	$	5,599

The following table presents the details of accumulated other comprehensive income components for the three-month period ended March 31, 2015:


Details of Accumulated Other Comprehensive Income Components (in thousands)	Amount Reclassified from Accumulated Other Comprehensive Income For the Three months ended March 31, 2015		Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains and losses on investment securities with OTTI:
Accretable Yield	$	167	Interest income on taxable investment securities
Taxes		(67)	Tax expense
	$	100	Net of tax
Unrealized gains and losses on available for sale investment securities - all others:
Losses on sales	$	(97)	Net losses - other
Taxes		39	Tax benefit
	$	(58)	Net of tax
Unrealized gains and losses on held to maturity securities:
Amortization	$	(116)	Interest income on taxable investment securities
Taxes		46	Tax benefit
	$	(70)	Net of tax

Net pension plan liability adjustment:
Amortization of unrecognized loss		(186)	Salaries and employee benefits
Amortization of transition asset		5	Salaries and employee benefits
Amortization of prior service costs		(3)	Salaries and employee benefits
Taxes		72	Tax benefit
	$	(112)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss		(12)	Salaries and employee benefits
Amortization of prior service costs		(5)	Salaries and employee benefits
Taxes		7	Tax benefit
	$	(10)	Net of tax

Total reclassifications for the period	$	(150)	Net of tax


Details of Accumulated Other Comprehensive Income Components (in thousands)	Amount Reclassified from Accumulated Other Comprehensive Income For the Three months ended March 31, 2014		Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains and losses on investment securities with OTTI:
Accretable Yield	$	160	Interest income on taxable investment securities
Taxes		(64)	Tax expense
	$	96	Net of tax
Unrealized gains and losses on available for sale investment securities - all others:
Losses on sales	$	(68)	Net losses - other
Taxes		27	Tax benefit
	$	(41)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss		(93)	Salaries and employee benefits
Amortization of transition asset		10	Salaries and employee benefits
Amortization of prior service costs		(3)	Salaries and employee benefits
Taxes		34	Tax benefit
	$	(52)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized gain		4	Salaries and employee benefits
Amortization of prior service costs		(5)	Salaries and employee benefits
Taxes		0	Tax benefit
	$	(1)	Net of tax

Total reclassifications for the period	$	2	Net of tax