Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2017

Accumulated Other Comprehensive Loss [Abstract]

Schedule of 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, 2016 and the three-month periods ended March 31, 2017, June 30, 2017 and September 30, 2017:



(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, 2016	$	(1,942)	$	(2,024)	$	(1,971)	$	(39)	$	(12,663)	$	(305)	$	(18,944)
Other comprehensive income/(loss) before reclassifications		(421)		(929)		0		461		(2,086)		(466)		(3,441)
Amounts reclassified from accumulated other comprehensive loss		(5)		(265)		617		0		517		56		920
Balance - December 31, 2016	$	(2,368)	$	(3,218)	$	(1,354)	$	422	$	(14,232)	$	(715)	$	(21,465)
Other comprehensive income before reclassifications		100		73		0		52		32		0		257
Amounts reclassified from accumulated other comprehensive loss		(2)		5		61		0		162		22		248
Balance – March 31, 2017	$	(2,270)	$	(3,140)	$	(1,293)	$	474	$	(14,038)	$	(693)	$	(20,960)
Other comprehensive income/(loss) before reclassifications		(32)		1,698		0		(150)		(158)		0		1,358
Amounts reclassified from accumulated other comprehensive loss		(34)		10		43		0		160		21		200
Balance – June 30, 2017	$	(2,336)	$	(1,432)	$	(1,250)	$	324	$	(14,036)	$	(672)	$	(19,402)
Other comprehensive income/(loss) before reclassifications		245		(51)		0		4		24		0		222
Amounts reclassified from accumulated other comprehensive loss		(33)		12		54		0		160		22		215
Balance - September 30, 2017	$	(2,124)	$	(1,471)	$	(1,196)	$	328	$	(13,852)	$	(650)	$	(18,965)

Components of Comprehensive Income

The following tables present the components of comprehensive income for the nine- and three-month periods ended September 30, 2017 and 2016:


Components of Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the nine months ended September 30, 2017
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	517	$	(204)	$	313
Less: accretable yield recognized in income		112		(43)		69
Net unrealized gains on investments with OTTI		405		(161)		244

Available for sale securities – all other:
Unrealized holding gains		2,859		(1,139)		1,720
Less: losses recognized in income		(44)		17		(27)
Net unrealized gains on all other AFS securities		2,903		(1,156)		1,747

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(262)		104		(158)
Net unrealized gains on HTM securities		262		(104)		158

Cash flow hedges:
Unrealized holding losses		(156)		62		(94)

Pension Plan:
Unrealized net actuarial loss		(170)		68		(102)
Less: amortization of unrecognized loss		(792)		315		(477)
Less: amortization of transition asset		0		0		0
Less: amortization of prior service costs		(9)		4		(5)
Net pension plan liability adjustment		631		(251)		380

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(110)		44		(66)
Less: amortization of prior service costs		2		(1)		1
Net SERP liability adjustment		108		(43)		65
Other comprehensive income	$	4,153	$	(1,653)	$	2,500


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 three months ended September 30, 2017
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	407	$	(162)	$	245
Less: accretable yield recognized in income		55		(22)		33
Net unrealized gains on investments with OTTI		352		(140)		212

Available for sale securities – all other:
Unrealized holding losses		(95)		44		(51)
Less: Losses recognized in income		(27)		15		(12)
Net unrealized losses on all other AFS securities		(68)		29		(39)

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(90)		36		(54)
Net unrealized gains on HTM securities		90		(36)		54

Cash flow hedges:
Unrealized holding gains		7		(3)		4

Pension Plan:
Unrealized net actuarial gain		38		(14)		24
Less: amortization of unrecognized loss		(264)		105		(159)
Less: amortization of transition asset		0		0		0
Less: amortization of prior service costs		(3)		2		(1)
Net pension plan liability adjustment		305		(121)		184

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(37)		14		(23)
Less: amortization of prior service costs		1		0		1
Net SERP liability adjustment		36		(14)		22
Other comprehensive income	$	722	$	(285)	$	437


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)

Reclassification Out of Accumulated Other Comprehensive Income

The following table presents the details of amount reclassified from accumulated other comprehensive loss for the nine- and three-month periods ended September 30, 2017 and 2016:



Amounts Reclassified from Accumulated Other Comprehensive Loss (in thousands)	For the Nine months ended September 30, 2017		For the Nine months ended September 30, 2016		Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains on investment securities with OTTI:
Accretable yield	$	112	$	7	Interest income on taxable investment securities
Taxes		(43)		(3)	Tax expense
	$	69	$	4	Net of tax
Unrealized gains and (losses) on available for sale investment securities - all others:
(Losses)/gains on sales	$	(44)	$	459	Net (losses)/ gains
Taxes		17		(183)	Tax benefit/(expense)
	$	(27)	$	276	Net of tax
Unrealized losses on held to maturity securities:
Amortization	$	(262)	$	(911)	Interest income on taxable investment securities
Taxes		104		364	Tax benefit
	$	(158)	$	(547)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(792)		(636)	Salaries and employee benefits
Amortization of transition asset		0		0	Salaries and employee benefits
Amortization of prior service costs		(9)		(9)	Salaries and employee benefits
Taxes		319		258	Tax benefit
	$	(482)	$	(387)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(110)		(59)	Salaries and employee benefits
Amortization of prior service costs		2		(15)	Salaries and employee benefits
Taxes		43		29	Tax benefit
	$	(65)	$	(45)	Net of tax

Total reclassifications for the period	$	(663)	$	(699)	Net of tax


Amounts Reclassified from Accumulated Other Comprehensive Loss (in thousands)	For the Three months ended September 30, 2017		For the Three months ended September 30, 2016		Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains on investment securities with OTTI:
Accretable Yield	$	55	$	2	Interest income on taxable investment securities
Taxes		(22)		(1)	Tax (expense)/benefit
	$	33	$	1	Net of tax
Unrealized (losses) and gains on available for sale investment securities - all others:
(Losses)/gains on sales	$	(27)	$	232	Net gains
Taxes		15		(93)	Tax benefit/(expense)
	$	(12)	$	139	Net of tax
Unrealized losses on held to maturity securities:
Amortization	$	(90)	$	(303)	Interest income on taxable investment securities
Taxes		36		121	Tax benefit
	$	(54)	$	(182)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(264)		(212)	Salaries and employee benefits
Amortization of transition asset		0		0	Salaries and employee benefits
Amortization of prior service costs		(3)		(3)	Salaries and employee benefits
Taxes		107		86	Tax benefit
	$	(160)	$	(129)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(37)		(20)	Salaries and employee benefits
Amortization of prior service costs		1		(5)	Salaries and employee benefits
Taxes		14		10	Tax benefit
	$	(22)	$	(15)	Net of tax

Total reclassifications for the period	$	(215)	$	(186)	Net of tax