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Comprehensive Income
 6 Months Ended
Jun. 30, 2016
Comprehensive Income [Abstract]  
Comprehensive Income

Note 12 – Comprehensive Income

 

Comprehensive income is defined as the change in equity during a period for non-owner transactions and is divided into net income and other comprehensive income. Other comprehensive income includes revenues, expenses, gains, and losses that are excluded from earnings under current accounting standards. The components of accumulated other comprehensive income for the Company are as follows:

 

($ in thousands)

 

   June 30, 2016     December 31, 2015     June 30, 2015  
Unrealized gain (loss) on securities available for sale   $ 1,722       (1,163 )     (1,433 )
     Deferred tax asset (liability)     (671 )     454       560  
Net unrealized gain (loss) on securities available for sale     1,051       (709 )     (873 )
                         
Additional pension asset (liability)     (4,555 )     (4,657 )     (304 )
     Deferred tax asset (liability)     1,776       1,816       118  
Net additional pension asset (liability)     (2,779 )     (2,841 )     (186 )
                         
Total accumulated other comprehensive income (loss)   $ (1,728 )     (3,550 )     (1,059 )

  

The following table discloses the changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2016 (all amounts are net of tax).

 

($ in thousands)

 

   Unrealized Gain
(Loss) on
Securities 
Available for Sale		     Additional
Pension Asset 
(Liability)		     Total  
Beginning balance at January 1, 2016   $ (709 )     (2,841 )     (3,550 )
     Other comprehensive income (loss) before reclassifications     1,762       —       1,762  
     Amounts reclassified from accumulated other comprehensive income     (2 )     62       60  
Net current-period other comprehensive income (loss)     1,760       62       1,822  
                         
Ending balance at June 30, 2016   $ 1,051       (2,779 )     (1,728 )

 

The following table discloses the changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2015 (all amounts are net of tax).

 

($ in thousands)

 

   Unrealized Gain
(Loss) on 
Securities 
Available for Sale		     Additional
Pension Asset 
(Liability)		     Total  
Beginning balance at January 1, 2015   $ (421 )     (157 )     (578 )
     Other comprehensive income (loss) before reclassifications     (452 )     —       (452 )
     Amounts reclassified from accumulated other comprehensive income     —       (29 )     (29 )
Net current-period other comprehensive income (loss)     (452 )     (29 )     (481 )
                         
Ending balance at June 30, 2015   $ (873 )     (186 )     (1,059 )