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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
12 Months Ended
Dec. 31, 2013
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)  
Schedule of components of other comprehensive income (loss)

 

Before Tax

 

Tax Effect

 

Net of Tax

 

 

 

(Dollars in thousands)

 

Year Ended December 31, 2013

 

 

 

 

 

 

 

Net unrealized losses on investment securities:

 

 

 

 

 

 

 

Net unrealized losses arising during the period

 

$

(43,687

)

$

(15,577

)

$

(28,110

)

Less: Reclassification adjustment for gains realized in net income

 

(6,266

)

(2,511

)

(3,755

)

Net unrealized losses on investment securities

 

(49,953

)

(18,088

)

(31,865

)

 

 

 

 

 

 

 

 

Net unrealized gains on derivatives:

 

 

 

 

 

 

 

Reclassification adjustment for losses realized in net income

 

394

 

(10,599

)

10,993

 

Net unrealized gains on derivatives

 

394

 

(10,599

)

10,993

 

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

Net actuarial gains arising during the period

 

6,952

 

2,591

 

4,361

 

Amortization of net actuarial losses

 

2,461

 

986

 

1,475

 

Amortization of net transition obligation

 

17

 

7

 

10

 

Amortization of prior service cost

 

18

 

7

 

11

 

Defined benefit plans, net

 

9,448

 

3,591

 

5,857

 

 

 

 

 

 

 

 

 

Other comprehensive loss

 

$

(40,111

)

$

(25,096

)

$

(15,015

)

 

 

 

 

 

 

 

 

Year Ended December 31, 2012

 

 

 

 

 

 

 

Net unrealized losses on investment securities:

 

 

 

 

 

 

 

Net unrealized losses arising during the period

 

$

(2,653

)

$

 

$

(2,653

)

Less: Reclassification adjustment for losses realized in net income

 

1,382

 

 

1,382

 

Net unrealized losses on investment securities

 

(1,271

)

 

(1,271

)

 

 

 

 

 

 

 

 

Net unrealized losses on derivatives:

 

 

 

 

 

 

 

Reclassification adjustment for gains realized in net income

 

(434

)

 

(434

)

Net unrealized losses on derivatives

 

(434

)

 

(434

)

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

Net actuarial losses arising during the period

 

(3,653

)

 

(3,653

)

Amortization of net actuarial losses

 

2,381

 

51

 

2,330

 

Amortization of net transition obligation

 

17

 

 

17

 

Amortization of prior service cost

 

17

 

 

17

 

Defined benefit plans, net

 

(1,238

)

51

 

(1,289

)

 

 

 

 

 

 

 

 

Other comprehensive loss

 

$

(2,943

)

$

51

 

$

(2,994

)

 

 

 

Before Tax

 

Tax Effect

 

Net of Tax

 

 

 

(Dollars in thousands)

 

Year Ended December 31, 2011

 

 

 

 

 

 

 

Net unrealized gains on investment securities:

 

 

 

 

 

 

 

Net unrealized gains arising during the period

 

$

22,190

 

$

 

$

22,190

 

Less: Reclassification adjustment for gains realized in net income

 

(1,164

)

 

(1,164

)

Net unrealized gains on investment securities

 

21,026

 

 

21,026

 

 

 

 

 

 

 

 

 

Net unrealized losses on derivatives:

 

 

 

 

 

 

 

Reclassification adjustment for gains realized in net income

 

(3,235

)

 

(3,235

)

Net unrealized losses on derivatives

 

(3,235

)

 

(3,235

)

 

 

 

 

 

 

 

 

Defined benefit plans:

 

 

 

 

 

 

 

Net actuarial losses arising during the period

 

(3,274

)

 

(3,274

)

Amortization of net actuarial losses

 

2,246

 

70

 

2,176

 

Amortization of net transition obligation

 

18

 

 

18

 

Amortization of prior service cost

 

18

 

 

18

 

Defined benefit plans, net

 

(992

)

70

 

(1,062

)

 

 

 

 

 

 

 

 

Other comprehensive income

 

$

16,799

 

$

70

 

$

16,729

 

Schedule of changes in each component of AOCI, net of tax

 

 

 

 

 

Defined

 

Accumulated Other

 

 

 

Investment

 

 

 

Benefit

 

Comprehensive

 

 

 

Securities

 

Derivatives

 

Plans

 

Income (Loss)

 

 

 

(Dollars in thousands)

 

Year Ended December 31, 2013

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

22,740

 

$

(10,993

)

$

(12,577

)

$

(830

)

Other comprehensive income (loss) before reclassifications

 

(28,110

)

 

4,361

 

(23,749

)

Amounts reclassified from AOCI

 

(3,755

)

10,993

 

1,496

 

8,734

 

Total other comprehensive income (loss)

 

(31,865

)

10,993

 

5,857

 

(15,015

)

Balance at end of period

 

$

(9,125

)

$

 

$

(6,720

)

$

(15,845

)

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2012

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

24,011

 

$

(10,559

)

$

(11,288

)

$

2,164

 

Other comprehensive loss before reclassifications

 

(2,653

)

 

(3,653

)

(6,306

)

Amounts reclassified from AOCI

 

1,382

 

(434

)

2,364

 

3,312

 

Total other comprehensive loss

 

(1,271

)

(434

)

(1,289

)

(2,994

)

Balance at end of period

 

$

22,740

 

$

(10,993

)

$

(12,577

)

$

(830

)

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2011

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

2,985

 

$

(7,324

)

$

(10,226

)

$

(14,565

)

Other comprehensive income (loss) before reclassifications

 

22,190

 

 

(3,274

)

18,916

 

Amounts reclassified from AOCI

 

(1,164

)

(3,235

)

2,212

 

(2,187

)

Total other comprehensive income (loss)

 

21,026

 

(3,235

)

(1,062

)

16,729

 

Balance at end of period

 

$

24,011

 

$

(10,559

)

$

(11,288

)

$

2,164

 

Schedule of amounts reclassified out of each component of AOCI

 

 

 

 

 

 

 

 

 

Affected Line Item in the

 

Details about AOCI Components

 

 

 

 

 

 

 

Statement Where Net

 

(Dollars in thousands)

 

Amount Reclassified from AOCI

 

Income is Presented

 

 

 

Year ended December 31,

 

 

 

 

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

 

 

Sale of investment securities available for sale

 

$

6,266

 

$

(1,382

)

$

1,164

 

Investment securities gain (loss)

 

 

 

(2,511

)

 

 

Tax expense

 

 

 

$

3,755

 

$

(1,382

)

$

1,164

 

Net of tax

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains (losses) on derivatives

 

$

(394

)

$

434

 

$

3,235

 

Interest income

 

 

 

(10,599

)

 

 

Tax expense

 

 

 

$

(10,993

)

$

434

 

$

3,235

 

Net of tax

 

 

 

 

 

 

 

 

 

 

 

Amortization of defined benefit plan items

 

 

 

 

 

 

 

 

 

Net actuarial losses

 

$

(2,461

)

$

(2,381

)

$

(2,246

)

(1)

 

Net transition obligation

 

(17

)

(17

)

(18

)

(1)

 

Prior service cost

 

(18

)

(17

)

(18

)

(1)

 

 

 

(2,496

)

(2,415

)

(2,282

)

Total before tax

 

 

 

1,000

 

51

 

70

 

Tax benefit

 

 

 

$

(1,496

)

$

(2,364

)

$

(2,212

)

Net of tax

 

 

 

 

 

 

 

 

 

 

 

Total reclassifications for the period

 

$

(8,734

)

$

(3,312

)

$

2,187

 

Net of tax

 

 

(1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details).