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Accumulated Other Comprehensive Income (Tables)

6 Months Ended

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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- Definition

Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

+ References

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- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669686-108580

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