Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2015

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

(13.) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the components of other comprehensive income (loss) for the years ended December 31 (in thousands):

		Pre-tax						Net-of-tax
		Amount			Tax Effect			Amount
2015
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	(1,529	)	$	(591	)	$	(938	)
Reclassification adjustment for net gains included in net income (1)		(2,251	)		(868	)		(1,383	)
Total securities available for sale and transferred securities		(3,780	)		(1,459	)		(2,321	)
Pension and post-retirement obligations:
Net actuarial gains (losses) arising during the year		(887	)		(342	)		(545	)
Amortization of net actuarial loss and prior service cost included in income		895			345			550
Total pension and post-retirement obligations		8			3			5
Other comprehensive loss	$	(3,772	)	$	(1,456	)	$	(2,316	)
2014
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	14,008		$	5,549		$	8,459
Reclassification adjustment for net gains included in net income (1)		(2,478	)		(981	)		(1,497	)
Total securities available for sale and transferred securities		11,530			4,568			6,962
Pension and post-retirement obligations:
Net actuarial gains (losses) arising during the year		(9,709	)		(3,846	)		(5,863	)
Amortization of net actuarial loss and prior service cost included in income		128			51			77
Total pension and post-retirement obligations		(9,581	)		(3,795	)		(5,786	)
Other comprehensive income	$	1,949		$	773		$	1,176
2013
Securities available for sale and transferred securities:
Change in unrealized gain/loss during the period	$	(34,135	)	$	(13,522	)	$	(20,613	)
Reclassification adjustment for net gains included in net income (1)		(1,298	)		(514	)		(784	)
Total securities available for sale and transferred securities		(35,433	)		(14,036	)		(21,397	)
Pension and post-retirement obligations:
Net actuarial gains (losses) arising during the year		11,860			4,698			7,162
Amortization of net actuarial loss and prior service cost included in income		1,316			521			795
Total pension and post-retirement obligations		13,176			5,219			7,957
Other comprehensive loss	$	(22,257	)	$	(8,817	)	$	(13,440	)

(1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company's reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.

Activity in accumulated other comprehensive income (loss), net of tax, was as follows (in thousands):

		Securities
		Available for			Pension and			Accumulated
		Sale and			Post-			Other
		Transferred			retirement			Comprehensive
		Securities			Obligations			Income (Loss)
Balance at January 1, 2015	$	1,625		$	(10,636	)	$	(9,011	)
Other comprehensive income (loss) before reclassifications		(938	)		(545	)		(1,483	)
Amounts reclassified from accumulated other comprehensive income		(1,383	)		550			(833	)
Net current period other comprehensive (loss) income		(2,321	)		5			(2,316	)
Balance at December 31, 2015	$	(696	)	$	(10,631	)	$	(11,327	)
Balance at January 1, 2014	$	(5,337	)	$	(4,850	)	$	(10,187	)
Other comprehensive income (loss) before reclassifications		8,459			(5,863	)		2,596
Amounts reclassified from accumulated other comprehensive income		(1,497	)		77			(1,420	)
Net current period other comprehensive (loss) income		6,962			(5,786	)		1,176
Balance at December 31, 2014	$	1,625		$	(10,636	)	$	(9,011	)
Balance at January 1, 2013	$	16,060		$	(12,807	)	$	3,253
Other comprehensive income (loss) before reclassifications		(20,613	)		7,162			(13,451	)
Amounts reclassified from accumulated other comprehensive income		(784	)		795			11
Net current period other comprehensive income (loss)		(21,397	)		7,957			(13,440	)
Balance at December 31, 2013	$	(5,337	)	$	(4,850	)	$	(10,187	)

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the years ended December 31 (in thousands):

		Amount Reclassified from
Details About Accumulated Other		Accumulated Other					Affected Line Item in the
Comprehensive Income Components		Comprehensive Income					Consolidated Statement of Income
		2015			2014
Realized gain on sale of investment securities	$	1,988		$	2,041		Net gain on disposal of investment securities
Amortization of unrealized holding gains (losses)
on investment securities transferred from
available for sale to held to maturity		263			437		Interest income
		2,251			2,478		Total before tax
		(868	)		(981	)	Income tax expense
		1,383			1,497		Net of tax
Amortization of pension and post-retirement items:
Prior service credit (1)		48			48		Salaries and employee benefits
Net actuarial losses (1)		(943	)		(176	)	Salaries and employee benefits
		(895	)		(128	)	Total before tax
		345			51		Income tax benefit
		(550	)		(77	)	Net of tax
Total reclassified for the period	$	833		$	1,420

(1) These items are included in the computation of net periodic pension expense. See Note 17 – Employee Benefit Plans for additional information.