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Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure Text Block Abstract

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income, net of income tax, as of September 30, 2016 and December 31, 2015 consisted of:

	September 30,			December 31,
	2016			2015
	(In thousands)
Unrealized gain on securities available-for-sale which are not other-than-temporarily impaired	$	18,689		$	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		(1,136)			(1,924)
Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired, net of tax		17,553			16,924
Unrealized loss on cash flow hedges		(2,803)			(4,307)
Income tax effect of unrealized loss on cash flow hedges		1,094			1,380
Net unrealized loss on cash flow hedges		(1,709)			(2,927)
Accumulated other comprehensive income, net of taxes	$	15,844		$	13,997

The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters and nine-month periods ended September 30, 2016 and 2015:

	Quarter Ended September 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	$	18,085		$	(2,280)		$	15,805			$	18,832		$	(4,531)		$	14,301
Other comprehensive income (loss) before reclassifications		(469)			(144)			(613)				3,175			(1,346)			1,829
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income		-			-			-				584			-			584
Amounts reclassified out of accumulated other comprehensive (loss) income		(63)			715			652				(105)			1,547			1,442
Other comprehensive income (loss)		(532)			571			39				3,654			201			3,855
Ending balance	$	17,553		$	(1,709)		$	15,844			$	22,486		$	(4,330)		$	18,156
	Nine-Month Period Ended September 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			$	25,765		$	(6,054)		$	19,711
Other comprehensive (loss) before reclassifications		(1,732)			(2,550)			(4,282)				(4,037)			(2,894)			(6,931)
Other-than-temporary impairment amount reclassified from accumulated other comprehensive income		2,557			-			2,557				584			-			584
Amounts reclassified out of accumulated other comprehensive income (loss)		(196)			3,768			3,572				174			4,618			4,792
Other comprehensive income (loss)		629			1,218			1,847				(3,279)			1,724			(1,555)
Ending balance	$	17,553		$	(1,709)		$	15,844			$	22,486		$	(4,330)		$	18,156

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 nine-month periods ended September 30, 2016 and 2015:

	Amount reclassified out of accumulated
	other comprehensive income							Affected Line Item in
	Quarter Ended September 30,							Consolidated Statement
		2016			2015			of Operations
	(In thousands)
Cash flow hedges:
Interest-rate contracts	$	664		$	1,622			Net interest expense
Tax effect from increase in capital gains tax rate		51			(75)			Income tax expense
Available-for-sale securities:
Residual tax effect from OIB's change in applicable tax rate		9			11			Income tax expense
Other-than-temporary impairment losses on available for sale securities realized during the period		-			(246)			Net impairment losses recognized in earnings
Tax effect from increase in capital gains tax rate		(72)			130			Income tax expense
	$	652		$	1,442
	Amount reclassified out of accumulated
	other comprehensive income							Affected Line Item in
	Nine-Month Period Ended September 30,							Consolidated Statement
		2016			2015			of Operations
	(In thousands)
Cash flow hedges:
Interest-rate contracts	$	3,468		$	4,842			Net interest expense
Tax effect from increase in capital gains tax rate		300			(224)			Income tax expense
Available-for-sale securities:
Residual tax effect from OIB's change in applicable tax rate		24			33			Income tax expense
Other-than-temporary impairment losses on available for sale securities		-			(246)			Net impairment losses recognized in earnings
Tax effect from increase in capital gains tax rate		(220)			387			Income tax expense
	$	3,572		$	4,792

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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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