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Accumulated Other Comprehensive Income | 12 Months Ended
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Dec. 31, 2019
Accumulated Other Comprehensive Income [Abstract] |
Accumulated Other Comprehensive Income | NOTE 24 - ACCUMULATED OTHER COMPREHENSIVE INCOME Accumulated other comprehensive income, net of income taxes, as of December 31, 2019 and 2018 consisted of:
| December 31,
| 2019 |  | 2018
| (In thousands)
Unrealized loss on securities available-for-sale which are not other-than-temporarily impaired | $ | (306) |  | $ | (12,654)
Income tax effect of unrealized loss on securities available-for-sale |  | (135) |  |  | 1,682
Net unrealized gain on securities available-for-sale which are not other-than-temporarily impaired |  | (441) |  |  | (10,972)
Unrealized (loss) gain on cash flow hedges |  | (907) |  |  | 14
Income tax effect of unrealized (loss) gain on cash flow hedges |  | 340 |  |  | (5)
Net unrealized (loss) gain on cash flow hedges |  | (567) |  |  | 9
Accumulated other comprehensive (loss), net of income taxes | $ | (1,008) |  | $ | (10,963)
Unrealized losses on available-for-sale securities includes $1 2.0 million, net of tax effect of the adoption of ASU No. 2017-12 from reclassification of all of its mortgage backed securities with carrying value of $424.7 million, from the held-to-maturity portfolio into the available-for-sale portfolio. The following table presents changes in accumulated other comprehensive income by component, net of taxes, for the years ended December 31, 2019, 2018 and 2017:
| Year Ended December 31,
| 2019
| Net unrealized |  | Net unrealized |  | Accumulated
| gains on |  | loss on |  | other
| securities |  | cash flow |  | comprehensive
| available-for-sale |  | hedges |  | (loss) income
| (In thousands)
Beginning balance | $ | (10,972) |  | $ | 9 |  | $ | (10,963)
Transfer of securities held to maturity to available-for-sale |  | (12,041) |  |  | - |  |  | (12,041)
Other comprehensive income (loss) before reclassifications |  | 14,335 |  |  | (2,442) |  |  | 11,893
Amounts reclassified out of accumulated other comprehensive income (loss) |  | 8,237 |  |  | 1,866 |  |  | 10,103
Other comprehensive income (loss) |  | 10,531 |  |  | (576) |  |  | 9,955
Ending balance | $ | (441) |  | $ | (567) |  | $ | (1,008)
| Year Ended December 31,
| 2018
| Net unrealized |  | Net unrealized |  | Accumulated
| gains on |  | loss on |  | other
| securities |  | cash flow |  | comprehensive
| available-for-sale |  | hedges |  | (loss) income
| (In thousands)
Beginning balance | $ | (2,638) |  | $ | (311) |  | $ | (2,949)
Other comprehensive loss before reclassifications |  | (8,104) |  |  | (1,555) |  |  | (9,659)
Amounts reclassified out of accumulated other comprehensive income (loss) |  | (230) |  |  | 1,875 |  |  | 1,645
Other comprehensive income (loss) |  | (8,334) |  |  | 320 |  |  | (8,014)
Ending balance | $ | (10,972) |  | $ | 9 |  | $ | (10,963)
| Year Ended December 31,
| 2017
| Net unrealized |  | Net unrealized |  | Accumulated
| gains on |  | loss on |  | other
| securities |  | cash flow |  | comprehensive
| available-for-sale |  | hedges |  | (loss) income
| (In thousands)
Beginning balance | $ | 2,209 |  |  | (613) |  |  | 1,596
Other comprehensive loss before reclassifications |  | (11,563) |  |  | (186) |  |  | (11,749)
Amounts reclassified out of accumulated other comprehensive income (loss) |  | 6,716 |  |  | 488 |  |  | 7,204
Other comprehensive (loss) income |  | (4,847) |  |  | 302 |  |  | (4,545)
Ending balance | $ | (2,638) |  | $ | (311) |  | $ | (2,949)
The following table presents reclassifications out of accumulated other comprehensive income for the years ended December 31, 2019, 2018 and 2017:
| Amount reclassified out of accumulated other comprehensive income | Affected Line Item in Consolidated Statement of Operations
| Year Ended December 31,
|  | 2019 |  |  | 2018 |  |  | 2017
| (In thousands) |
Cash flow hedges: |  |  |  |  |  |  |  |  |
Interest-rate contracts | $ | 1,866 |  | $ | 1,875 |  | $ | 488 | Net interest expense
Available-for-sale securities: |  |  |  |  |  |  |  |  |
Gain on sale of investments |  | 8,274 |  |  | - |  |  | 6,896 | Net gain on sale of securities
Residual tax effect from OIB's change in applicable tax rate |  | - |  |  | 5 |  |  | 104 | Income tax expense
Tax effect from changes in tax rates |  | (37) |  |  | (235) |  |  | (284) | Income tax expense
| $ | 10,103 |  | $ | 1,645 |  | $ | 7,204 |

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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- References No definition available. + Details
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