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Accumulated Other Comprehensive Loss
 3 Months Ended
Mar. 31, 2015
Accumulated Other Comprehensive Loss [Abstract]  
Accumulated Other Comprehensive Loss

(8.) ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table presents the components of other comprehensive income for the three month periods ended March 31, 2015 and 2014 (in thousands):

  Pre-tax           Net-of-tax  
    Amount     Tax Effect     Amount  
March 31, 2015                  
Securities available for sale and transferred securities:                  
Change in unrealized gain/loss during the period $ 6,396   $ 2,436   $ 3,960  
Reclassification adjustment for net gains included in net income (1)   (1,139 )   (440 )   (699 )
Total securities available for sale and transferred securities   5,257     1,996     3,261  
Amortization of pension and post-retirement items:                  
Prior service credit   (12 )   (5 )   (7 )
Net actuarial losses   236     94     142  
Total pension and post-retirement obligations   224     89     135  
Other comprehensive income $ 5,481   $ 2,085   $ 3,396  
 
March 31, 2014                  
Securities available for sale and transferred securities:                  
Change in unrealized gain/loss during the period $ 6,650   $ 2,634   $ 4,016  
Reclassification adjustment for net gains included in net income (1)   (450 )   (178 )   (272 )
Total securities available for sale and transferred securities   6,200     2,456     3,744  
Amortization of pension and post-retirement items:                  
Prior service credit   (12 )   (5 )   (7 )
Net actuarial losses   44     18     26  
Total pension and post-retirement obligations   32     13     19  
 
Other comprehensive income $ 6,232   $ 2,469   $ 3,763  

 

(1)     
Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company's reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield.

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(8.) ACCUMULATED OTHER COMPREHENSIVE LOSS (Continued)

Activity in accumulated other comprehensive loss, net of tax, for the three month periods ended March 31, 2015 and 2014 was as follows (in thousands):

    Securities              
    Available for     Pension and     Accumulated  
    Sale and   Post-     Other  
    Transferred     retirement     Comprehensive  
    Securities     Obligations     Loss  
March 31, 2015                  
Balance at beginning of year $ 1,625   $ (10,636 ) $ (9,011 )
Other comprehensive income before reclassifications   3,960     -     3,960  
Amounts reclassified from accumulated other comprehensive loss   (699 )   135     (564 )
Net current period other comprehensive income   3,261     135     3,396  
Balance at end of period $ 4,886   $ (10,501 ) $ (5,615 )
 
March 31, 2014                  
Balance at beginning of year $ (5,337 ) $ (4,850 ) $ (10,187 )
Other comprehensive income before reclassifications   4,016     -     4,016  
Amounts reclassified from accumulated other comprehensive loss   (272 )   19     (253 )
Net current period other comprehensive income   3,744     19     3,763  
Balance at end of period $ (1,593 ) $ (4,831 ) $ (6,424 )

 

The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss for the three month periods ended March 31, 2015 and 2014 (in thousands):

    Amount Reclassified from    
Details About Accumulated Other   Accumulated Other   Affected Line Item in the
Comprehensive Loss Components   Comprehensive Loss   Consolidated Statement of Income
    Three months ended    
    March 31,    
    2015     2014    
Realized gain on sale of investment securities $ 1,062   $ 313   Net gain on disposal of investment securities
Amortization of unrealized holding gains (losses)              
on investment securities transferred from              
available for sale to held to maturity   77     137   Interest income
    1,139     450   Total before tax
    (440 )   (178 ) Income tax expense
    699     272   Net of tax
Amortization of pension and post-retirement items:              
Prior service credit (1)   12     12   Salaries and employee benefits
Net actuarial losses (1)   (236 )   (44 ) Salaries and employee benefits
    (224 )   (32 ) Total before tax
    89     13   Income tax benefit
    (135 )   (19 ) Net of tax
 
Total reclassified for the period $ 564   $ 253    

 

(1)      These items are included in the computation of net periodic pension expense. See Note 10 – Employee Benefit Plans for additional information.