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OTHER COMPREHENSIVE INCOME (LOSS)
 9 Months Ended
Sep. 30, 2015
OTHER COMPREHENSIVE INCOME (LOSS)  
OTHER COMPREHENSIVE INCOME (LOSS)

13. OTHER COMPREHENSIVE INCOME (LOSS)

 

Other comprehensive income (loss) components and related income tax effects were as follows:

 

    Three Months Ended     Nine Months Ended  
(In thousands)   September 30, 
2015		     September 30, 
2014		     September 30, 
2015		     September 30, 
2014		  
Unrealized holding (losses) gains on available for sale securities   $ 3,950     $ (1,338 )   $ 5,212     $ 10,118  
Reclassification adjustment for (gains) losses realized in income     —       (9 )     10       1,119  
Income tax effect     (1,599 )     534       (2,070 )     (4,460 )
Net change in unrealized (losses) gains on available for sale securities     2,351       (813 )     3,152       6,777  
                                 
Reclassification adjustment for amortization realized in income     90       (5 )     269       (17 )
Income tax effect     (36 )     2       (53 )     7  
Net change in post-retirement obligation     54       (3 )     216       (10 )
                                 
Change in fair value of derivatives used for cash flow hedges     (661 )     402       (1,050 )     (174 )
Reclassification adjustment for gains realized in income     —       —       —       —  
Income tax effect     267       (160 )     432       69  
Net change in unrealized losses on cash flow hedge     (394 )     242       (618 )     (105 )
                                 
Total   $ 2,011     $ (574 )   $ 2,750     $ 6,662  

 

The following is a summary of the accumulated other comprehensive income balances, net of income tax:

 

    Balance as of           Balance as of  
    December 31,     Current Period     September 30,  
(In thousands)   2014     Change     2015  
Unrealized (losses) gains on available for sale securities   $ (3,307 )   $ 3,152     $ (155 )
Unrealized (losses) gains on pension benefits     (4,491 )     216       (4,275 )
Unrealized losses on cash flow hedges     (569 )     (618 )     (1,187 )
Total   $ (8,367 )   $ 2,750     $ (5,617 )

 

The following represents the reclassifications out of accumulated other comprehensive income for the three and nine months ended September 30, 2015 and 2014:

 

                           
    Three Months Ended     Nine Months Ended     Affected Line Item
(In thousands)   September 30,
2015		     September 30,
2014		     September 30,
2015		     September 30,
2015		     in the Consolidated
Statements of Income
Unrealized gains (losses) on available for sale securities:                                    
Realized losses on sale of available for sale securities   $ —     $ 9     $ (10 )   $ (1,119 )   Net securities losses
Income tax effect     —       (4 )     4       444     Income tax expense
Net of income tax   $ —     $ 5     $ (6 )   $ (675 )    
                                     
Amortization of defined benefit pension plan and the defined benefit plan component of the SERP:                    
Prior service credit (cost)   $ 19     $ 19     $ 57     $ 58     Salaries and employee benefits
Transition obligation     (7 )     (7 )     (21 )     (21 )   Salaries and employee benefits
Actuarial losses     (102 )     (7 )     (305 )     (20 )   Salaries and employee benefits
    $ (90 )   $ 5     $ (269 )   $ 17      
Income tax effect     36       (2 )     53       (7 )   Income tax expense
Net of income tax   $ (54 )   $ 3     $ (216 )   $ 10      
                                     
Total reclassifications, net of tax   $ (54 )   $ 8     $ (222 )   $ (665 )