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Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)
The following table presents the components of other comprehensive income (loss), both gross and net of tax, for the three and nine months ended September 30, 2017 and 2016 (in thousands):
 
 
Three months ended September 30,
 
 
2017
 
2016
 
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
Components of Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains and losses on securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
Net gains (losses) arising during the period
 
$
799

 
(320
)
 
479

 
(2,575
)
 
1,034

 
(1,541
)
Reclassification adjustment for gains included in net income
 
—

 
—

 
—

 
43

 
(17
)
 
26

Total
 
799

 
(320
)
 
479

 
(2,532
)
 
1,017

 
(1,515
)
Unrealized gains on derivatives (cash flow hedges)
 
90

 
(36
)
 
54

 
384

 
(154
)
 
230

Amortization related to post-retirement obligations
 
61

 
(25
)
 
36

 
236

 
(95
)
 
141

Total other comprehensive income (loss)
 
$
950

 
(381
)
 
569

 
(1,912
)
 
768

 
(1,144
)
 
 
Nine months ended September 30,
 
 
2017
 
2016
 
 
Before
Tax
 
Tax
Effect
 
After
Tax
 
Before
Tax
 
Tax
Effect
 
After
Tax
Components of Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains and losses on securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
Net gains arising during the period
 
$
4,136

 
(1,658
)
 
2,478

 
14,260

 
(5,727
)
 
8,533

Reclassification adjustment for gains included in net income
 
—

 
—

 
—

 
(54
)
 
22

 
(32
)
Total
 
4,136

 
(1,658
)
 
2,478

 
14,206

 
(5,705
)
 
8,501

Unrealized gains (losses) on derivatives (cash flow hedges)
 
177

 
(71
)
 
106

 
(603
)
 
242

 
(361
)
Amortization related to post-retirement obligations
 
183

 
(78
)
 
105

 
635

 
(255
)
 
380

Total other comprehensive income
 
$
4,496

 
(1,807
)
 
2,689

 
14,238

 
(5,718
)
 
8,520

The following tables present the changes in the components of accumulated other comprehensive income (loss), net of tax, for the three and nine months ended September 30, 2017 and 2016 (in thousands):
 
 
Changes in Accumulated Other Comprehensive Income (Loss) by Component, net of tax
for the three months ended September 30,
 
 
2017
 
2016
 
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post- Retirement
Obligations
 
Unrealized gains on Derivatives (cash flow hedges)
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Unrealized
Gains on Securities
Available
 for 
Sale
 
Post-  Retirement
Obligations
 
Unrealized (losses) on Derivatives (cash flow hedges)
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance at
June 30,
 
$
1,489

 
(2,987
)
 
221

 
(1,277
)
 
13,967

 
(6,185
)
 
(664
)
 
7,118

Current period other comprehensive income (loss)
 
479

 
36

 
54

 
569

 
(1,515
)
 
141

 
230

 
(1,144
)
Balance at September 30,
 
$
1,968

 
(2,951
)
 
275

 
(708
)
 
12,452

 
(6,044
)
 
(434
)
 
5,974


 
 
Changes in Accumulated Other Comprehensive Income (Loss) by Component, net of tax
for the nine months ended September 30,
 
 
2017
 
2016
 
 
Unrealized
Gains on Securities
Available for 
Sale
 
Post-  Retirement
Obligations
 
Unrealized gains on Derivatives (cash flow hedges)
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Unrealized
Gains on Securities
Available
 for 
Sale
 
Post- Retirement
Obligations
 
Unrealized (losses) on Derivatives (cash flow hedges)
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance at December 31,
 
$
(510
)
 
(3,056
)
 
169

 
(3,397
)
 
3,951

 
(6,424
)
 
(73
)
 
(2,546
)
Current period other comprehensive income (loss)
 
2,478

 
105

 
106

 
2,689

 
8,501

 
380

 
(361
)
 
8,520

Balance at September 30,
 
$
1,968

 
(2,951
)
 
275

 
(708
)
 
12,452

 
(6,044
)
 
(434
)
 
5,974


The following tables summarize the reclassifications out of accumulated other comprehensive income to the consolidated statements of income for the three and nine months ended September 30, 2017 and 2016 (in thousands):
 
 
Reclassifications From Accumulated Other Comprehensive
Income ("AOCI")
 
 
Amount reclassified from AOCI for the three months ended September 30,
 
Affected line item in the Consolidated
Statement of Income
 
 
2017
 
2016
 
Details of AOCI:
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
Realized net losses on the sale of securities available for sale
 
$
—

 
(43
)
 
Net gain on securities transactions
 
 
—

 
17

 
Income tax expense
 
 
—

 
(26
)
 
Net of tax
 
 
 
 
 
 
 
Post-retirement obligations:
 
 
 
 
 
 
Amortization of actuarial losses
 
61

 
236

 
Compensation and employee benefits (1)
 
 
(25
)
 
(95
)
 
Income tax expense
 
 
36

 
141

 
Net of tax
Total reclassifications
 
$
36

 
115

 
Net of tax

 
 
Reclassifications From Accumulated Other Comprehensive
Income ("AOCI")
 
 
Amount reclassified from AOCI for the nine months ended September 30,
 
Affected line item in the Consolidated
Statement of Income
 
 
2017
 
2016
 
Details of AOCI:
 
 
 
 
 
 
Securities available for sale:
 
 
 
 
 
 
Realized net gains on the sale of securities available for sale
 
$
—

 
54

 
Net gain on securities transactions
 
 
—

 
(22
)
 
Income tax expense
 
 
—

 
32

 
Net of tax
 
 
 
 
 
 
 
Post-retirement obligations:
 
 
 
 
 
 
Amortization of actuarial losses
 
183

 
708

 
Compensation and employee benefits (1)
 
 
(78
)
 
(284
)
 
Income tax expense
 
 
105

 
424

 
Net of tax
Total reclassifications
 
$
105

 
456

 
Net of tax
(1) 
This item is included in the computation of net periodic benefit cost. See Note 5. Components of Net Periodic Benefit Cost.