OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2017

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME

15. OTHER COMPREHENSIVE INCOME

OCI components and related tax effects were as follows:

	Three Months Ended
	March 31,
(in thousands)	2017		2016
Available for Sale Securities:
Change in unrealized gain (loss) on securities available for sale	$	706	$	2,292
Change in unrealized gain on security available for sale for which a portion of an other-than-temporary impairment has been recognized in earnings		53		(149)
Net unrealized gains		759		2,143
Tax effect		(266)		(750)
Net of tax		493		1,393
Cash Flow Hedges:
Change in fair value of derivatives used for cash flow hedges		28		(571)
Reclassification amount for derivative losses realized in income		66		87
Net unrealized gains (losses)		94		(484)
Tax effect		(33)		170
Net of tax		61		(314)
Total other comprehensive income (loss) components, net of tax	$	554	$	1,079

Significant amounts reclassified out of each component of AOCI for the three months ended March 31, 2017 and 2016:

			Amounts Reclassified From Accumulated
			Other Comprehensive Income
		Three Months Ended
	Affected Line Items in the Consolidated	March 31,
(in thousands)	Statements of Income	2017		2016
Cash Flow Hedges:
Interest rate swap on money market deposits	Interest expense on deposits	$	(34)	$	(43)
Interest rate swap on FHLB advance	Interest expense on FHLB advances		(32)		(44)
Total derivative losses on cash flow hedges	Total interest expense		(66)		(87)
Tax effect	Income tax expense		23		30
Net of tax	Net income	$	(43)	$	(57)

The following is a summary of the AOCI balances, net of tax:

			2017
(in thousands)	December 31, 2016		Change		March 31, 2017
Unrealized gain on securities available for sale	$	237	$	459	$	696
Unrealized gain on security available for sale for which a portion of an other-than-temporary impairment has been recognized in earnings		706		34		740
Unrealized loss on cash flow hedge		(256)		61		(195)
Total unrealized gain	$	687	$	554	$	1,241

			2016
(in thousands)	December 31, 2015		Change		March 31, 2016
Unrealized gain on securities available for sale	$	1,727	$	1,490	$	3,217
Unrealized gain on security available for sale for which a portion of an other-than-temporary impairment has been recognized in earnings		712		(97)		615
Unrealized loss on cash flow hedge		(390)		(314)		(704)
Total unrealized gain	$	2,049	$	1,079	$	3,128