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Comprehensive Income

6 Months Ended

Jun. 30, 2020

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 non-owner sources. The Company’s other comprehensive income is comprised of unrealized holding gains and losses on securities available-for-sale, unrealized gains (losses) on cash flow hedges, obligations for defined benefit pension plan and an adjustment to reflect the curtailment of the Company’s defined benefit pension plan, each net of taxes.

The following table represents the reclassification out of accumulated other comprehensive (loss) income for the periods presented:

Details about Accumulated Other Comprehensive Loss Components		Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)								Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)								Affected Line item in the Statement Where Net Income is Presented
		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2020				2019				2020				2019
		(dollars in thousands)
Sale of investment securities		$	-			$	(9	)		$	29			$	(1	)		Net (losses) gains on sale of securities available-for-sale Income tax expense
available for sale			-				2				(6	)			-
			-				(7	)			23				(1	)
Net interest income on swaps		$	(318	)		$	176			$	(311	)		$	358			Borrowings
			71				(39	)			69				(79	)		Income tax expense
			(247	)			137				(242	)			279
Amortization of pension plan net			(76	)			(90	)			(151	)			(179	)		Other components of net periodic pension expense
actuarial losses			21				25				42				50			Income tax benefit
			(55	)			(65	)			(109	)			(129	)
Total reclassification		$	(302	)		$	65			$	(328	)		$	149

37

CONNECTONE BANCORP, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Note 8. Comprehensive Income – (continued)

Accumulated other comprehensive income (loss) at June 30, 2020 and December 31, 2019 consisted of the following:

		June 30,				December 31,
		2020				2019
		(dollars in thousands)
Investment securities available-for-sale, net of tax		$	6,231			$	2,724
Cash flow hedge, net of tax			(2,353	)			(193	)
Defined benefit pension and post-retirement plans, net of tax			(3,569	)			(3,678	)
Total		$	309			$	(1,147	)

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- References

No definition available.

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X

- 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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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