Change in Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Change in Accumulated Other Comprehensive Income

NOTE 12. Change in Accumulated Other Comprehensive Income

Accumulated other comprehensive income includes unrealized gains and losses on available for sale securities, change in fair value of interest rate swaps and changes in benefit obligations and plan assets for the post retirement benefit plan. Changes to accumulated other comprehensive income are presented net of tax effect as a component of equity. Reclassifications out of accumulated other comprehensive income are recorded in the Consolidated Statements of Income either as a gain or loss.

Changes to accumulated other comprehensive income by components are shown in the following tables for the periods indicated:

	Three Months Ended
	September 30,
	2015											2014
	Unrealized Gains and Losses on Available for Sale Securities			Change in Fair Value of Interest Rate Swap			Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan		Total			Unrealized Gains and Losses on Available for Sale Securities			Change in Fair Value of Interest Rate Swap			Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan		Total
	(dollars in thousands)
July 1	$	851		$	(156	)	$	39	$	734		$	1,766		$	(248	)	$	44	$	1,562
Other comprehensive income before reclassifications	782			—			—		782			(28		)	63			—		35
Reclassifications adjustments	(20		)	237			—		217			(87		)	—			—		(87		)
Tax effect of current period changes	(259		)	(81		)	—		(340		)	39			(22		)	—		17
Current period changes net of taxes	503			156			—		659			(76		)	41			—		(35		)
September 30	$	1,354		$	—		$	39	$	1,393		$	1,690		$	(207	)	$	44	$	1,527

	Nine Months Ended
	September 30,
	2015											2014
	Unrealized Gains and Losses on Available for Sale Securities			Change in Fair Value of Interest Rate Swap			Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan		Total			Unrealized Gains and Losses on Available for Sale Securities			Change in Fair Value of Interest Rate Swap			Change in Benefit Obligations and Plan Assets for the Post Retirement Benefit Plan		Total
	(dollars in thousands)
January 1	$	1,466		$	(190	)	$	39	$	1,315		$	547		$	(286	)	$	44	$	305
Other comprehensive (loss) income before reclassifications	(54		)	52			—		(2		)	1,824			120			—		1,944
Reclassifications adjustments	(116		)	237			—		121			(93		)	—			—		(93		)
Tax effect of current period changes	58			(99		)	—		(41		)	(588		)	(41		)	—		(629		)
Current period changes net of taxes	(112		)	190			—		78			1,143			79			—		1,222
September 30	$	1,354		$	—		$	39	$	1,393		$	1,690		$	(207	)	$	44	$	1,527

For the three and nine months ended September 30, 2015, $20 thousand and $116 thousand, respectively, was reclassified out of accumulated other comprehensive income and appeared as Gain on sale of securities in the Consolidated Statements of Income. The tax related to these reclassifications was $7 thousand and $39 thousand for the three and nine months ended September 30, 2015, respectively. For the three and nine months ended September 30, 2014, $87 thousand and $93 thousand , respectively, was reclassified out of comprehensive income and appeared as Gain on sale of securities in the Consolidated Statements of Income. The tax related to these reclassifications was $30 thousand and $32 thousand, respectively, for the three and nine months ended September 30, 2014. The tax is included in Income Tax Expense in the Consolidated Statements of Income.

For the three and nine months ended September 30, 2015, $237 thousand was reclassified out of accumulated other comprehensive income related to the Company's derecognition of it's cash flow hedge. This loss was recorded in Other operating (loss) income in the Consolidated Statements of Income. Tax related to this reclassification was $81 thousand and was included in Income Tax Expense in the Consolidated Statements of Income. There were no reclassifications related to cash flow hedges during the three and nine months ended September 30, 2014.