Note 10 – Accumulated Other Comprehensive Loss

The following table presents the changes in each component of accumulated other comprehensive loss for the 12 months ended December 31, 2015 and the three-month periods ended March 31, 2016, June 30, 2016 and September 30, 2016:



(in thousands)	Investment securities- with OTTI AFS		Investment securities- all other AFS			Investment securities- HTM	Cash Flow Hedge		Pension Plan		SERP		Total
Accumulated OCL, net:
Balance - January 1, 2015	$	(3,679)	$	(2,555)	$	(2,255)	$	(119)	$	(11,392)	$	(233)	$	(20,233)
Other comprehensive income/(loss) before reclassifications		1,154		1,344		0		80		(1,736)		(113)		729
Amounts reclassified from accumulated other comprehensive loss		2,059		(174)		284		0		465		41		2,675
Balance - December 31, 2015	$	(466)	$	(1,385)	$	(1,971)	$	(39)	$	(12,663)	$	(305)	$	(16,829)
Other comprehensive income/(loss) before reclassifications		(899)		558		0		(331)		(343)		0		(1,015)
Amounts reclassified from accumulated other comprehensive loss		(22)		(124)		143		0		130		15		142
Balance – March 31, 2016	$	(1,387)	$	(951)	$	(1,828)	$	(370)	$	(12,876)	$	(290)	$	(17,702)
Other comprehensive income/(loss) before reclassifications		1,099		(169)		0		(306)		(210)		0		414
Amounts reclassified from accumulated other comprehensive loss		19		(12)		222		0		128		15		372
Balance – June 30, 2016	$	(269)	$	(1,132)	$	(1,606)	$	(676)	$	(12,958)	$	(275)	$	(16,916)
Other comprehensive income/(loss) before reclassifications		28		(321)		0		157		(395)		0		(531)
Amounts reclassified from accumulated other comprehensive loss		(1)		(139)		182		0		129		15		186
Balance - September 30,2016	$	(242)	$	(1,592)	$	(1,424)	$	(519)	$	(13,224)	$	(260)	$	(17,261)

The following tables present the components of comprehensive income for the nine- and three-month periods ended September 30, 2016 and 2015:


Components of Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the nine months ended September 30, 2016
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	380	$	(152)	$	228
Less: accretable yield recognized in income		7		(3)		4
Net unrealized gains on investments with OTTI		373		(149)		224

Available for sale securities – all other:
Unrealized holding gains		115		(46)		69
Less: gains recognized in income		460		(184)		276
Net unrealized losses on all other AFS securities		(345)		138		(207)

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(911)		364		(547)
Net unrealized gains on HTM securities		911		(364)		547

Cash flow hedges:
Unrealized holding losses		(799)		319		(480)

Pension Plan:
Unrealized net actuarial loss		(1,578)		630		(948)
Less: amortization of unrecognized loss		(636)		254		(382)
Less: amortization of transition asset		0		0		0
Less: amortization of prior service costs		(9)		4		(5)
Net pension plan liability adjustment		(933)		372		(561)

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(59)		24		(35)
Less: amortization of prior service costs		(15)		5		(10)
Net SERP liability adjustment		74		(29)		45
Other comprehensive loss	$	(719)	$	287	$	(432)


Components of Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the nine months ended September 30, 2015
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	6,682	$	(2,665)	$	4,017
Less: accretable yield recognized in income		479		(191)		288
Net unrealized gains on investments with OTTI		6,203		(2,474)		3,729

Available for sale securities – all other:
Unrealized holding gains		2,380		(949)		1,431
Less: gains recognized in income		62		(25)		37
Net unrealized gains on all other AFS securities		2,318		(924)		1,394

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(374)		149		(225)
Net unrealized gains on HTM securities		374		(149)		225

Cash flow hedges:
Unrealized holding gains		92		(37)		55

Pension Plan:
Unrealized net actuarial loss		(4,651)		1,856		(2,795)
Less: amortization of unrecognized loss		(576)		229		(347)
Less: amortization of transition asset		15		(6)		9
Less: amortization of prior service costs		(9)		4		(5)
Net pension plan liability adjustment		(4,081)		1,629		(2,452)

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(37)		15		(22)
Less: amortization of prior service costs		(15)		6		(9)
Net SERP liability adjustment		52		(21)		31
Other comprehensive income	$	4,958	$	(1,976)	$	2,982


Components of Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended September 30, 2016
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	47	$	(19)	$	28
Less: accretable yield recognized in income		2		(1)		1
Net unrealized gains on investments with OTTI		45		(18)		27

Available for sale securities – all other:
Unrealized holding losses		(534)		213		(321)
Less: gains recognized in income		232		(93)		139
Net unrealized losses on all other AFS securities		(766)		306		(460)

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(303)		121		(182)
Net unrealized gains on HTM securities		303		(121)		182

Cash flow hedges:
Unrealized holding gains		261		(104)		157

Pension Plan:
Unrealized net actuarial loss		(657)		262		(395)
Less: amortization of unrecognized loss		(212)		85		(127)
Less: amortization of transition asset		0		0		0
Less: amortization of prior service costs		(3)		1		(2)
Net pension plan liability adjustment		(442)		176		(266)

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(20)		7		(13)
Less: amortization of prior service costs		(5)		3		(2)
Net SERP liability adjustment		25		(10)		15
Other comprehensive loss	$	(574)	$	229	$	(345)


Components of Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended September 30, 2015
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	1,658	$	(661)	$	997
Less: accretable yield recognized in income		139		(55)		84
Net unrealized gains on investments with OTTI		1,519		(606)		913

Available for sale securities – all other:
Unrealized holding gains		1,288		(515)		773
Less: gains recognized in income		79		(33)		46
Net unrealized gains on all other AFS securities		1,209		(482)		727

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(106)		42		(64)
Net unrealized gains on HTM securities		106		(42)		64

Cash flow hedges:
Unrealized holding gains		33		(13)		20

Pension Plan:
Unrealized net actuarial loss		(2,892)		1,153		(1,739)
Less: amortization of unrecognized loss		(204)		80		(124)
Less: amortization of transition asset		5		(2)		3
Less: amortization of prior service costs		(3)		1		(2)
Net pension plan liability adjustment		(2,690)		1,074		(1,616)

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized gain		(13)		5		(8)
Less: amortization of prior service costs		(5)		3		(2)
Net SERP liability adjustment		18		(8)		10
Other comprehensive income	$	195	$	(77)	$	118

The following table presents the details of amount reclassified from accumulated other comprehensive loss for the nine- and three-month periods ended September 30, 2016 and 2015:



Amounts Reclassified from Accumulated Other Comprehensive (Loss (in thousands)	For the Nine months ended September 30, 2016		For the Nine months ended September 30, 2015		Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains and losses on investment securities with OTTI:
Accretable yield	$	7	$	479	Interest income on taxable investment securities
Taxes		(3)		(191)	Tax expense
	$	4	$	288	Net of tax
Unrealized gains on available for sale investment securities - all others:
Gains on sales	$	459	$	62	Net gains
Taxes		(183)		(25)	Tax expense
	$	276	$	37	Net of tax
Unrealized losses on held to maturity securities:
Amortization	$	(911)	$	(374)	Interest income on taxable investment securities
Taxes		364		149	Tax benefit
	$	(547)	$	(225)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss		(636)		(576)	Salaries and employee benefits
Amortization of transition asset		0		15	Salaries and employee benefits
Amortization of prior service costs		(9)		(9)	Salaries and employee benefits
Taxes		258		227	Tax benefit
	$	(387)	$	(343)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss		(59)		(37)	Salaries and employee benefits
Amortization of prior service costs		(15)		(15)	Salaries and employee benefits
Taxes		29		21	Tax benefit
	$	(45)	$	(31)	Net of tax

Total reclassifications for the period	$	(699)	$	(274)	Net of tax


Amounts Reclassified from Accumulated Other Comprehensive Loss (in thousands)	For the Three months ended September 30, 2016		For the Three months ended September 30, 2015		Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains and losses on investment securities with OTTI:
Accretable Yield	$	2	$	139	Interest income on taxable investment securities
Taxes		(1)		(55)	Tax expense
	$	1	$	84	Net of tax
Unrealized gains on available for sale investment securities - all others:
Gains on sales	$	232	$	79	Net gains
Taxes		(93)		(33)	Tax expense
	$	139	$	46	Net of tax
Unrealized losses on held to maturity securities:
Amortization	$	(303)	$	(106)	Interest income on taxable investment securities
Taxes		121		42	Tax benefit
	$	(182)	$	(64)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss		(212)		(204)	Salaries and employee benefits
Amortization of transition asset		0		5	Salaries and employee benefits
Amortization of prior service costs		(3)		(3)	Salaries and employee benefits
Taxes		86		79	Tax benefit
	$	(129)	$	(123)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss		(20)		(13)	Salaries and employee benefits
Amortization of prior service costs		(5)		(5)	Salaries and employee benefits
Taxes		10		8	Tax benefit
	$	(15)	$	(10)	Net of tax

Total reclassifications for the period	$	(186)	$	(67)	Net of tax