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Accumulated Other Comprehensive Income (Tables) | 6 Months Ended
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Jun. 30, 2016
Disclosure Text Block Abstract |
Schedule of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive income, net of income tax, as of June 30, 2016 and December 31, 2015 consisted of:
| June 30, |  | December 31,
| 2016 |  | 2015
| (In thousands)
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired | $ | 19,004 |  | $ | 22,044
Unrealized gain on securities available-for-sale which are other-than-temporarily impaired |  | - |  |  | (3,196)
Income tax effect of unrealized gain on securities available-for-sale |  | (919) |  |  | (1,924)
Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired, net of tax |  | 18,085 |  |  | 16,924
Unrealized loss on cash flow hedges |  | (3,655) |  |  | (4,307)
Income tax effect of unrealized loss on cash flow hedges |  | 1,375 |  |  | 1,380
Net unrealized loss on cash flow hedges |  | (2,280) |  |  | (2,927)
Accumulated other comprehensive income, net of taxes | $ | 15,805 |  | $ | 13,997
The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and six-month periods ended June 30, 2016 and 2015:
| Quarter Ended June 30,
| 2016 |  |  | 2015 |
| Net unrealized |  | Net unrealized |  | Accumulated |  |  | Net unrealized |  | Net unrealized |  | Accumulated |
| gains on |  | loss on |  | other |  |  | gains on |  | loss on |  | other |
| securities |  | cash flow |  | comprehensive |  |  | securities |  | cash flow |  | comprehensive |
| available-for-sale |  | hedges |  | income |  |  | available-for-sale |  | hedges |  | income |
| (In thousands)
Beginning balance | $ | 15,089 |  | $ | (2,805) |  | $ | 12,284 |  |  | $ | 30,214 |  | $ | (5,890) |  | $ | 24,324 |
Other comprehensive income (loss) before reclassifications |  | 3,060 |  |  | (949) |  |  | 2,111 |  |  |  | (11,523) |  |  | (180) |  |  | (11,703) |
Amounts reclassified out of accumulated other comprehensive (loss) income |  | (64) |  |  | 1,474 |  |  | 1,410 |  |  |  | 141 |  |  | 1,539 |  |  | 1,680 |
Other comprehensive income (loss) |  | 2,996 |  |  | 525 |  |  | 3,521 |  |  |  | (11,382) |  |  | 1,359 |  |  | (10,023) |
Ending balance | $ | 18,085 |  | $ | (2,280) |  | $ | 15,805 |  |  | $ | 18,832 |  | $ | (4,531) |  | $ | 14,301 |
| Six-Month Period Ended June 30,
| 2016 |  |  | 2015 |
| Net unrealized |  | Net unrealized |  | Accumulated |  |  | Net unrealized |  | Net unrealized |  | Accumulated |
| gains on |  | loss on |  | other |  |  | gains on |  | loss on |  | other |
| securities |  | cash flow |  | comprehensive |  |  | securities |  | cash flow |  | comprehensive |
| available-for-sale |  | hedges |  | income |  |  | available-for-sale |  | hedges |  | income |
| (In thousands) |
Beginning balance | $ | 16,924 |  | $ | (2,927) |  | $ | 13,997 |  |  | $ | 25,764 |  | $ | (6,053) |  | $ | 19,711 |
Other comprehensive (loss) before reclassifications |  | (1,266) |  |  | (2,406) |  |  | (3,672) |  |  |  | (7,212) |  |  | (1,549) |  |  | (8,761) |
Amounts reclassified out of accumulated other comprehensive income (loss) |  | 2,427 |  |  | 3,053 |  |  | 5,480 |  |  |  | 280 |  |  | 3,071 |  |  | 3,351 |
Other comprehensive income (loss) |  | 1,161 |  |  | 647 |  |  | 1,808 |  |  |  | (6,932) |  |  | 1,522 |  |  | (5,410) |
Ending balance | $ | 18,085 |  | $ | (2,280) |  | $ | 15,805 |  |  | $ | 18,832 |  | $ | (4,531) |  | $ | 14,301 |
Reclassification out of Accumulated Other Comprehensive Income [Table text block] | The following table presents reclassifications out of accumulated other comprehensive income for the quarters and six-month periods ended June 30, 2016 and 2015:
| Amount reclassified out of accumulated |  |
| other comprehensive income |  | Affected Line Item in
| Quarter Ended June 30, |  | Consolidated Statement
|  | 2016 |  |  | 2015 |  |  | of Operations
| (In thousands) |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |
Interest-rate contracts | $ | 1,354 |  | $ | 1,614 |  |  | Net interest expense
Tax effect from increase in capital gains tax rate |  | 120 |  |  | (75) |  |  | Income tax expense
Available-for-sale securities: |  |  |  |  |  |  |  |
Residual tax effect from OIB's change in applicable tax rate |  | 8 |  |  | 12 |  |  | Income tax expense
Tax effect from increase in capital gains tax rate |  | (72) |  |  | 129 |  |  | Income tax expense
| $ | 1,410 |  | $ | 1,680 |  |  |
| Amount reclassified out of accumulated |  |
| other comprehensive income |  | Affected Line Item in
| Six-Month Period Ended June 30, |  | Consolidated Statement
|  | 2016 |  |  | 2015 |  |  | of Operations
| (In thousands) |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |
Interest-rate contracts | $ | 2,804 |  | $ | 3,220 |  |  | Net interest expense
Tax effect from increase in capital gains tax rate |  | 249 |  |  | (149) |  |  | Income tax expense
Available-for-sale securities: |  |  |  |  |  |  |  |
Residual tax effect from OIB's change in applicable tax rate |  | 16 |  |  | 22 |  |  | Income tax expense
Other-than-temporary impairment losses on available for sale securities realized during the period |  | 2,557 |  |  | - |  |  |
Tax effect from increase in capital gains tax rate |  | (146) |  |  | 258 |  |  | Income tax expense
| $ | 5,480 |  | $ | 3,351 |  |  |

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