Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2013

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income

(8.) ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents the components of other comprehensive loss for the three month periods indicated (in thousands):

								Net-of-tax
		Pre-tax Amount			Tax Effect			Amount
March 31, 2013
Net unrealized losses on investment securities:
Net unrealized losses arising during the period	$	(2,942	)	$	(1,166	)	$	(1,776	)
Reclassification adjustment for gains included in income		(892	)		(353	)		(539	)
Net unrealized losses on investment securities		(3,834	)		(1,519	)		(2,315	)
Pension and post-retirement obligations:
Amortization of prior service benefit		(12	)		(5	)		(7	)
Amortization of actuarial losses		341			135			206
Pension and post-retirement obligations, net		329			130			199
Other comprehensive loss	$	(3,505	)	$	(1,389	)	$	(2,116	)
March 31, 2012
Net unrealized losses on investment securities:
Net unrealized losses arising during the period	$	(1,837	)	$	(728	)	$	(1,109	)
Reclassification adjustment for gains included in income		(331	)		(131	)		(200	)
Reclassification adjustment for impairment charges included in income		91			36			55
Net unrealized losses on investment securities		(2,077	)		(823	)		(1,254	)
Pension and post-retirement obligations:
Amortization of prior service benefit		(12	)		(5	)		(7	)
Amortization of actuarial losses		347			138			209
Pension and post-retirement obligations, net		335			133			202
Other comprehensive loss	$	(1,742	)	$	(690	)	$	(1,052	)

The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2013 (in thousands):

		Net Unrealized
		Gains and
		Losses on			Pension and
		Investment			Post-retirement
		Securities			Obligations			Total
Balance at beginning of year	$	16,060		$	(12,807	)	$	3,253
Other comprehensive loss before reclassifications		(1,776	)		199			(1,577	)
Amounts reclassified from accumulated other comprehensive income		(539	)		-			(539	)
Net current period other comprehensive loss		(2,315	)		199			(2,116	)
Balance at end of period	$	13,745		$	(12,608	)	$	1,137

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2013 (in thousands):

		Amount
		Reclassified from
		Accumulated
		Other
Details About Accumulated Other		Comprehensive		Affected Line Item in the
Comprehensive Income Components		Income		Consolidated Statement of Income
Realized gain on sale of investment securities	$	892		Net gain on disposal of investment securities
		(353	)	Income tax expense
	$	539		Net of tax
Pension and post-retirement obligations
Amortization of prior service benefit (1)	$	(12	)	Salaries and employee benefits
Amortization of actuarial losses (1)		341		Salaries and employee benefits
		329		Total before tax
		(130	)	Income tax expense
	$	199		Net of tax

(1) These items are included in the computation of net periodic pension cost. See Note 10 – Employee Benefit Plans for additional information.