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Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Abstract]  
Accumulated Other Comprehensive Income (Loss)

(13.) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table presents the components of other comprehensive income (loss) for the years ended December 31 (in thousands):

  Pre-tax           Net-of-tax  
    Amount     Tax Effect     Amount  
2016                  
Securities available for sale and transferred securities:                  
Change in unrealized gain/loss during the period $ (2,146 ) $ (828 ) $ (1,318 )
Reclassification adjustment for net gains included in net income (1)   (2,793 )   (1,078 )   (1,715 )
Total securities available for sale and transferred securities   (4,939 )   (1,906 )   (3,033 )
Pension and post-retirement obligations:                  
Net actuarial gains (losses) arising during the year   (241 )   (93 )   (148 )
Amortization of net actuarial loss and prior service cost included in income   907     350     557  
Total pension and post-retirement obligations   666     257     409  
Other comprehensive loss $ (4,273 ) $ (1,649 ) $ (2,624 )
 
2015                  
Securities available for sale and transferred securities:                  
Change in unrealized gain/loss during the period $ (1,529 ) $ (591 ) $ (938 )
Reclassification adjustment for net gains included in net income (1)   (2,251 )   (868 )   (1,383 )
Total securities available for sale and transferred securities   (3,780 )   (1,459 )   (2,321 )
Pension and post-retirement obligations:                  
Net actuarial gains (losses) arising during the year   (887 )   (342 )   (545 )
Amortization of net actuarial loss and prior service cost included in income   895     345     550  
Total pension and post-retirement obligations   8     3     5  
Other comprehensive loss $ (3,772 ) $ (1,456 ) $ (2,316 )
 
2014                  
Securities available for sale and transferred securities:                  
Change in unrealized gain/loss during the period $ 14,008   $ 5,549   $ 8,459  
Reclassification adjustment for net gains included in net income (1)   (2,478 )   (981 )   (1,497 )
Total securities available for sale and transferred securities   11,530     4,568     6,962  
Pension and post-retirement obligations:                  
Net actuarial gains (losses) arising during the year   (9,709 )   (3,846 )   (5,863 )
Amortization of net actuarial loss and prior service cost included in income   128     51     77  
Total pension and post-retirement obligations   (9,581 )   (3,795 )   (5,786 )
Other comprehensive income $ 1,949   $ 773   $ 1,176  

 

(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.

Activity in accumulated other comprehensive income (loss), net of tax, was as follows (in thousands):

 
    Securities              
    Available for     Pension and     Accumulated  
    Sale and     Post-     Other  
    Transferred     retirement     Comprehensive  
    Securities     Obligations     Income (Loss)  
Balance at January 1, 2016 $ (696 ) $ (10,631 ) $ (11,327 )
Other comprehensive income (loss) before reclassifications   (1,318 )   (148 )   (1,466 )
Amounts reclassified from accumulated other comprehensive income   (1,715 )   557     (1,158 )
Net current period other comprehensive (loss) income   (3,033 )   409     (2,624 )
Balance at December 31, 2016 $ (3,729 ) $ (10,222 ) $ (13,951 )
 
Balance at January 1, 2015 $ 1,625   $ (10,636 ) $ (9,011 )
Other comprehensive income (loss) before reclassifications   (938 )   (545 )   (1,483 )
Amounts reclassified from accumulated other comprehensive income   (1,383 )   550     (833 )
Net current period other comprehensive (loss) income   (2,321 )   5     (2,316 )
Balance at December 31, 2015 $ (696 ) $ (10,631 ) $ (11,327 )
 
Balance at January 1, 2014 $ (5,337 ) $ (4,850 ) $ (10,187 )
Other comprehensive income (loss) before reclassifications   8,459     (5,863 )   2,596  
Amounts reclassified from accumulated other comprehensive income   (1,497 )   77     (1,420 )
Net current period other comprehensive (loss) income   6,962     (5,786 )   1,176  
Balance at December 31, 2014 $ 1,625   $ (10,636 ) $ (9,011 )

 

The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the years ended December 31 (in thousands):

    Amount Reclassified from    
Details About Accumulated Other   Accumulated Other   Affected Line Item in the
Comprehensive Income Components   Comprehensive Income   Consolidated Statement of Income
    2016     2015    
Realized gain on sale of investment securities $ 2,695   $ 1,988   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   98     263   Interest income
    2,793     2,251   Total before tax
    (1,078 )   (868 ) Income tax expense
    1,715     1,383   Net of tax
Amortization of pension and post-retirement items:              
Prior service credit (1)   48     48   Salaries and employee benefits
Net actuarial losses (1)   (955 )   (943 ) Salaries and employee benefits
    (907 )   (895 ) Total before tax
    350     345   Income tax benefit
    (557 )   (550 ) Net of tax
Total reclassified for the period $ 1,158   $ 833    

 

(1) These items are included in the computation of net periodic pension expense. See Note 17 – Employee Benefit Plans for additional information.