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Accumulated Other Comprehensive Loss (AOCL) (Tables)
 12 Months Ended
Dec. 31, 2014
Accumulated Other Comprehensive Loss ("AOCL") [Abstract]  
Schedule of Accumulated Other Comprehensive Loss

The following table presents the changes in each component of accumulated other comprehensive loss for the years ended December 31, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment

Investment

 

Investment

 

 

 

 

 

 

 

 

 

securities-

securities-

 

securities-

Cash Flow

Pension

 

 

 

 

(in thousands)

with OTTI AFS

all other AFS

 

HTM

Hedge

Plan

SERP

Total

Accumulated OCL, net:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance - January 1, 2013

$
(10,036)

$
(2,966)

$
0 

$
(507)

$
(8,262)

$
(52)

$
(21,823)

Other comprehensive income/(loss) before reclassifications

 
2,735 

 
(8,279)

 
0 

 
233 

 
2,871 

 
102 

 
(2,338)

Amounts reclassified from accumulated other comprehensive loss

 
(322)

 
(47)

 
0 

 
0 

 
303 

 
14 

 
(52)

Balance - December 31, 2013

$
(7,623)

$
(11,292)

$
0 

$
(274)

$
(5,088)

$
64 

$
(24,213)

Other comprehensive income/(loss) before reclassifications

 
4,349 

 
8,712 

 
(2,395)

 
155 

 
(6,513)

 
(319)

 
3,989 

Amounts reclassified from accumulated other comprehensive loss

 
(405)

 
25 

 
140 

 
0 

 
209 

 
22 

 
(9)

Balance - December 31, 2014

$
(3,679)

$
(2,555)

$
(2,255)

$
(119)

$
(11,392)

$
(233)

$
(20,233)

 

Components of Comprehensive Income

The following tables present the components of other comprehensive income/(loss) for the years ended December 31, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

Components of Other Comprehensive Income (in thousands)

Before Tax Amount

Tax (Expense) Benefit

Net

For the year ended December 31, 2014

 

 

 

 

 

 

Available for sale (AFS) securities with OTTI:

 

 

 

 

 

 

   Unrealized holding gains

$
7,234 

$
(2,885)

$
4,349 

   Less:  accretable yield recognized in income

 
674 

 
(269)

 
405 

Net unrealized gains on investments with OTTI

 
6,560 

 
(2,616)

 
3,944 

 

 

 

 

 

 

 

Available for sale securities – all other:

 

 

 

 

 

 

   Unrealized holding gains

 
14,501 

 
(5,789)

 
8,712 

   Less:  losses recognized in income

 
(41)

 
16 

 
(25)

Net unrealized gains on all other AFS securities

 
14,542 

 
(5,805)

 
8,737 

 

 

 

 

 

 

 

Held to maturity securities:

 

 

 

 

 

 

   Unrealized holding losses

 
(3,984)

 
1,589 

 
(2,395)

   Less:  amortization recognized in income

 
(233)

 
93 

 
(140)

Net unrealized losses on HTM securities

 
(3,751)

 
1,496 

 
(2,255)

 

 

 

 

 

 

 

Cash flow hedges:

 

 

 

 

 

 

Unrealized holding gains

 
258 

 
(103)

 
155 

 

 

 

 

 

 

 

Pension Plan:

 

 

 

 

 

 

Unrealized net actuarial loss

 
(10,833)

 
4,320 

 
(6,513)

Less: amortization of unrecognized loss

 
(374)

 
149 

 
(225)

Less: amortization of transition asset

 
39 

 
(16)

 
23 

Less: amortization of prior service costs

 
(12)

 
5 

 
(7)

Net pension plan liability adjustment

 
(10,486)

 
4,182 

 
(6,304)

 

 

 

 

 

 

 

SERP:

 

 

 

 

 

 

Unrealized net actuarial loss

 
(531)

 
212 

 
(319)

Less: amortization of unrecognized loss

 
(17)

 
7 

 
(10)

Less: amortization of prior service costs

 
(20)

 
8 

 
(12)

Net SERP liability adjustment

 
(494)

 
197 

 
(297)

Other comprehensive income

$
6,629 

$
(2,649)

$
3,980 

 

 

 

 

 

 

 

 

 

Components of Other Comprehensive Loss (in thousands)

Before Tax Amount

Tax (Expense) Benefit

Net

For the year ended December 31, 2013

 

 

 

 

 

 

Available for sale (AFS) securities with OTTI:

 

 

 

 

 

 

   Unrealized holding gains

$
4,626 

$
(1,891)

$
2,735 

   Less:  accretable yield recognized in income

 
537 

 
(215)

 
322 

Net unrealized gains on investments with OTTI

 
4,089 

 
(1,676)

 
2,413 

 

 

 

 

 

 

 

Available for sale securities – all other:

 

 

 

 

 

 

   Unrealized holding losses

 
(13,879)

 
5,600 

 
(8,279)

   Less:  gains recognized in income

 
78 

 
(31)

 
47 

Net unrealized losses on all other AFS securities

 
(13,957)

 
5,631 

 
(8,326)

 

 

 

 

 

 

 

Cash flow hedges:

 

 

 

 

 

 

Unrealized holding gains

 
392 

 
(159)

 
233 

 

 

 

 

 

 

 

Pension Plan:

 

 

 

 

 

 

Unrealized net actuarial gain

 
4,790 

 
(1,919)

 
2,871 

Less: amortization of unrecognized loss

 
(532)

 
213 

 
(319)

Less: amortization of transition asset

 
39 

 
(16)

 
23 

Less: amortization of prior service costs

 
(12)

 
5 

 
(7)

Net pension plan liability adjustment

 
5,295 

 
(2,121)

 
3,174 

 

 

 

 

 

 

 

SERP:

 

 

 

 

 

 

Unrealized net actuarial gain

 
170 

 
(68)

 
102 

Less: amortization of unrecognized loss

 
(3)

 
1 

 
(2)

Less: amortization of prior service costs

 
(20)

 
8 

 
(12)

Net SERP liability adjustment

 
193 

 
(77)

 
116 

Other comprehensive loss

$
(3,988)

$
1,598 

$
(2,390)

 

Reclassification out of Accumulated Other Comprehensive Income

The following tables present the details of accumulated other comprehensive income components for the years ended December 31, 2014 and 2013:

 

 

 

 

 

 

 

 

Amount Reclassified from Accumulated Other Comprehensive Income

 

 

Details of Accumulated Other Comprehensive Income Components (in thousands)

2014

 

Affected Line Item in the Statement Where Net Income is Presented

Net unrealized gains on investment securities with OTTI:

 

 

 

 

    Accretable Yield

$
674 

 

Interest income on taxable investment securities

    Taxes

 
(269)

 

Tax expense

 

$
405 

 

Net of tax

Net unrealized gains on available for sale investment securities - all other:

 

 

 

 

    Losses on sales

$
(41)

 

Net gains - other

    Taxes

 
16 

 

Tax benefit

 

$
(25)

 

Net of tax

Net unrealized losses on held to maturity investment securities:

 

 

 

 

    Amortization

$
(233)

 

Interest income on taxable investment securities

    Taxes

 
93 

 

Tax benefit

 

$
(140)

 

Net of tax

 

 

 

 

 

Net pension plan liability adjustment:

 

 

 

 

    Amortization of unrecognized loss

 
(374)

 

Salaries and employee benefits

    Amortization of transition asset

 
39 

 

Salaries and employee benefits

    Amortization of prior service costs

 
(12)

 

Salaries and employee benefits

    Taxes

 
138 

 

Tax benefit

 

$
(209)

 

Net of tax

Net SERP liability adjustment:

 

 

 

 

    Amortization of unrecognized loss

 
(17)

 

Salaries and employee benefits

    Amortization of prior service costs

 
(20)

 

Salaries and employee benefits

    Taxes

 
15 

 

Tax benefit

 

$
(22)

 

Net of tax

 

 

 

 

 

Total reclassifications for the period

$
9 

 

Net of tax

 

 

 

 

 

 

 

 

Amount Reclassified from Accumulated Other Comprehensive Income

 

 

Details of Accumulated Other Comprehensive Income Components (in thousands)

2013

 

Affected Line Item in the Statement Where Net Income is Presented

Net unrealized gains on investment securities with OTTI:

 

 

 

 

    Accretable Yield

$
537 

 

Interest income on taxable investment securities

    Taxes

 
(215)

 

Tax expense

 

$
322 

 

Net of tax

Net unrealized gains on available for sale investment securities - all other:

 

 

 

 

    Gains on sales

$
78 

 

Net gains - other

    Taxes

 
(31)

 

Tax expense

 

$
47 

 

Net of tax

 

 

 

 

 

Net pension plan liability adjustment:

 

 

 

 

    Amortization of unrecognized loss

 
(532)

 

Salaries and employee benefits

    Amortization of transition asset

 
39 

 

Salaries and employee benefits

    Amortization of prior service costs

 
(12)

 

Salaries and employee benefits

    Taxes

 
202 

 

Tax benefit

 

$
(303)

 

Net of tax

Net SERP liability adjustment:

 

 

 

 

    Amortization of unrecognized loss

 
(3)

 

Salaries and employee benefits

    Amortization of prior service costs

 
(20)

 

Salaries and employee benefits

    Taxes

 
9 

 

Tax benefit

 

$
(14)

 

Net of tax

 

 

 

 

 

Total reclassifications for the period

$
52 

 

Net of tax