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Comprehensive Income | 9 Months Ended
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Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
Comprehensive Income | Note 8. Comprehensive Income Total comprehensive income includes all changes in equity during a period from transactions and other events and circumstances from nonowner sources. The Company’s other comprehensive income (loss) is comprised of unrealized holding gains and losses on securities available-for-sale, obligations for defined benefit pension plan and an adjustment to reflect the curtailment of the Company’s defined benefit pension plan, net of taxes. The following table represents the reclassification out of accumulated other comprehensive (loss) income for the periods presented:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Affected Line item in the
Details about Accumulated Other |  | Amounts Reclassified from Accumulated |  | Statement Where Net Income is
Comprehensive Income Components |  | Other Comprehensive Income |  | Presented
|  | Three Months Ended |  | Nine Months Ended |  |
|  | September 30 |  | September 30 |  |
|  | 2018 |  | 2017 |  | 2018 |  |  | 2017 |  |
Sale of investment securities available-for-sale |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 1,596 |  |  | Net gains on sales of securities available-for-sale Income tax expense
|  | - |  |  |  | - |  |  |  | - |  |  |  | (579 | ) |
| $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 1,017 |  |
Amortization of pension plan net actuarial losses |  | $ | 91 |  |  | $ | (103 | ) |  | $ | 274 |  |  | $ | (309 | ) |  | Other components of net periodic pension expense Income tax expense
|  | (26 | ) |  |  | 42 |  |  |  | (77 | ) |  |  | 126 |  |
| $ | 65 |  |  | $ | (61 | ) |  | $ | 197 |  |  | $ | (183 | ) |
Total reclassification |  | $ | 65 |  |  | $ | (61 | ) |  | $ | 197 |  |  | $ | 834 |  |  |
Accumulated other comprehensive loss at September 30, 2018 and December 31, 2017 consisted of the following:
|  | September 30, |  | December 31,
|  | 2018 |  | 2017
|  | (dollars in thousands)
Investment securities available-for-sale, net of tax |  | $ | (8,208 | ) |  | $ | (902 | )
Cash flow hedge, net of tax |  |  | 1,370 |  |  |  | 472 |
Defined benefit pension and post-retirement plans, net of tax |  |  | (3,846 | ) |  |  | (3,589 | )
Total |  | $ | (10,684 | ) |  | $ | (4,019 | )
Effective January 1, 2018, the Company implemented ASU 2018-02, “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” Under ASU 2018-02, the FASB amended existing guidance to allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (“Tax Act”). In order to comply with this new ASU, the Company recorded an adjustment to the balance sheet on January 1, 2018 of approximately $709 thousand that increased retained earnings and increased accumulated other comprehensive loss. Effective January 1, 2018, the Company implemented ASU 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” Under ASU 2016-01, equity securities, with certain exceptions, are to be measured at fair value with changes in fair value recognized in net income. In order to comply with this new ASU, the Company recorded a cumulative-effect adjustment to the balance sheet of approximately $55 thousand. As of September 30, 2018, the Company’s equity securities had readily determinable fair values.

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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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