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Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2018
Disclosure Text Block Abstract  
Comprehensive Income Note Text Block

NOTE 17 - ACCUMULATED OTHER COMPREHENSIVE INCOME

Accumulated other comprehensive income, net of income taxes, as of March 31, 2018 and December 31, 2017 consisted of:

March 31,December 31,
20182017
(In thousands)
Unrealized loss on securities available-for-sale which are not other-than-temporarily impaired$(14,329) $ (3,003)
Income tax effect of unrealized loss on securities available-for-sale2,055365
Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired(12,274)(2,638)
Unrealized gain (loss) on cash flow hedges146(510)
Income tax effect of unrealized (gain) loss on cash flow hedges(57)199
Net unrealized gain (loss) on cash flow hedges89(311)
Accumulated other comprehensive (loss), net of income taxes$(12,185) $ (2,949)

The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the quarters ended March 31, 2018 and 2017:

Quarter Ended March 31, 2018
Net unrealizedNet unrealizedAccumulated
gains onloss onother
securitiescash flowcomprehensive
available-for-salehedges(loss) income
(In thousands)
Beginning balance$(2,638)$(311)$(2,949)
Other comprehensive loss before reclassifications(9,576)26(9,550)
Amounts reclassified out of accumulated other comprehensive income (loss)(60)374314
Other comprehensive income (loss)(9,636)400(9,236)
Ending balance$(12,274)$89$(12,185)
Quarter Ended March 31, 2017
Net unrealizedNet unrealizedAccumulated
gains onloss onother
securitiescash flowcomprehensive
available-for-salehedges(loss) income
(In thousands)
Beginning balance$2,209(613)1,596
Other comprehensive loss before reclassifications1,707(38)1,669
Amounts reclassified out of accumulated other comprehensive income (loss)(66)14983
Other comprehensive income (loss)1,6411111,752
Ending balance$3,850$(502)$3,348

The following table presents reclassifications out of accumulated other comprehensive income for the quarters ended March 31, 2018 and 2017:

Amount reclassified out of accumulated other comprehensive incomeAffected Line Item in Consolidated Statement of Operations
Quarter Ended March 31,
20182017
(In thousands)
Cash flow hedges:
Interest-rate contracts$374$149Net interest expense
Available-for-sale securities:
Residual tax effect from OIB's change in applicable tax rate58Income tax expense
Tax effect from changes in tax rates(65)(74) Income tax expense
$314$83