Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2018

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, 2017 and the three-month periods ended March 31, 2018 and June 30, 2018:



(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, 2017	$	(2,368)	$	(3,218)	$	(1,354)	$	422	$	(14,232)	$	(715)	$	(21,465)
Other comprehensive income/(loss) before reclassifications		31		638		0		59		(445)		(82)		201
Amounts reclassified from accumulated other comprehensive loss		(121)		36		253		0		781		105		1,054
Reclassification of certain tax effects		(481)		(435)		(246)		101		(3,170)		(152)		(4,383)
Balance – December 31, 2017	$	(2,939)	$	(2,979)	$	(1,347)	$	582	$	(17,066)	$	(844)	$	(24,593)
Other comprehensive income/(loss) before reclassifications		685		(1,085)		0		443		516		0		559
Amounts reclassified from accumulated other comprehensive loss		(40)		7		45		0		220		29		261
Balance – March 31, 2018	$	(2,294)	$	(4,057)	$	(1,302)	$	1,025	$	(16,330)	$	(815)	$	(23,773)
Other comprehensive income/(loss) before reclassifications		1,089		(237)		0		108		(1,750)		0		(790)
Amounts reclassified from accumulated other comprehensive loss		(144)		7		38		0		220		29		150
Balance - June 30, 2018	$	(1,349)	$	(4,287)	$	(1,264)	$	1,133	$	(17,860)	$	(786)	$	(24,413)

Components of Comprehensive Income

The following tables present the components of other comprehensive income/(loss) for the six- and three-month periods ended June 30, 2018 and 2017:


Components of Other Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the six months ended June 30, 2018
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	2,432	$	(658)	$	1,774
Less: gains recognized in income		145		(39)		106
Less: accretable yield recognized in income		107		(29)		78
Net unrealized gains on investments with OTTI		2,180		(590)		1,590

Available for sale securities – all other:
Unrealized holding losses		(1,812)		490		(1,322)
Less: losses recognized in income		(19)		5		(14)
Net unrealized losses on all other AFS securities		(1,793)		485		(1,308)

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(114)		31		(83)
Net unrealized gains on HTM securities		114		(31)		83

Cash flow hedges:
Unrealized holding gains		755		(204)		551

Pension Plan:
Unrealized net actuarial loss		(1,692)		457		(1,235)
Less: amortization of unrecognized loss		(600)		162		(438)
Less: amortization of prior service costs		(4)		1		(3)
Net pension plan liability adjustment		(1,088)		294		(794)

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(81)		22		(59)
Less: amortization of prior service costs		1		0		1
Net SERP liability adjustment		80		(22)		58
Other comprehensive income	$	248	$	(68)	$	180


Components of Other Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the six months ended June 30, 2017
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	110	$	(44)	$	66
Less: accretable yield recognized in income		57		(23)		34
Net unrealized gains on investments with OTTI		53		(21)		32

Available for sale securities – all other:
Unrealized holding gains		2,954		(1,178)		1,776
Less: losses recognized in income		(17)		7		(10)
Net unrealized gains on all other AFS securities		2,971		(1,185)		1,786

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(172)		68		(104)
Net unrealized gains on HTM securities		172		(68)		104

Cash flow hedges:
Unrealized holding losses		(163)		65		(98)

Pension Plan:
Unrealized net actuarial loss		(208)		82		(126)
Less: amortization of unrecognized loss		(528)		210		(318)
Less: amortization of prior service costs		(6)		2		(4)
Net pension plan liability adjustment		314		(130)		196

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(73)		29		(44)
Less: amortization of prior service costs		1		0		1
Net SERP liability adjustment		72		(29)		43
Other comprehensive income	$	3,419	$	(1,368)	$	2,063

Reclassification Out of Accumulated Other Comprehensive Income

The following table presents the details of amount reclassified from accumulated other comprehensive loss for the six- and three-month periods ended June 30, 2018 and 2017:



Amounts Reclassified from Accumulated Other Comprehensive Loss (in thousands)	For the Six months ended June 30, 2018		For the Six months ended June 30, 2017		Affected Line Item in the Statement Where Net Income is Presented
Net unrealized gains on investment securities with OTTI:
Gain on calls	$	145	$	0	Net gains
Accretable yield		107		57	Interest income on taxable investment securities
Taxes		(68)		(23)	Provision for Income Tax Expense
	$	184	$	34	Net of tax
Net unrealized losses on available for sale investment securities - all others:
Losses on sales	$	(19)	$	(17)	Net gains
Taxes		5		7	Provision for Income Tax Expense
	$	(14)	$	(10)	Net of tax
Net unrealized losses on held to maturity securities:
Amortization	$	(114)	$	(172)	Interest income on taxable investment securities
Taxes		31		68	Provision for Income Tax Expense
	$	(83)	$	(104)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(600)	$	(528)	Other Expense
Amortization of prior service costs		(4)		(6)	Salaries and employee benefits
Taxes		163		212	Provision for Income Tax Expense
	$	(441)	$	(322)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(81)	$	(73)	Other Expense
Amortization of prior service costs		1		1	Salaries and employee benefits
Taxes		22		29	Provision for Income Tax Expense
	$	(58)	$	(43)	Net of tax

Total reclassifications for the period	$	(412)	$	(445)	Net of tax


Amounts Reclassified from Accumulated Other Comprehensive Loss (in thousands)	For the Three months ended June 30, 2018		For the Three months ended June 30, 2017		Affected Line Item in the Statement Where Net Income is Presented
Unrealized gains on investment securities with OTTI:
Gain on calls	$	145	$	0	Net gains
Accretable Yield		52		55	Interest income on taxable investment securities
Taxes		(53)		(22)	Provision for Income Tax Expense
	$	144	$	33	Net of tax
Unrealized losses on available for sale investment securities - all others:
Losses on sales	$	(10)	$	(8)	Net gains
Taxes		3		3	Provision for Income Tax Expense
	$	(7)	$	(5)	Net of tax
Unrealized losses on held to maturity securities:
Amortization	$	(52)	$	(71)	Interest income on taxable investment securities
Taxes		14		28	Provision for Income Tax Expense
	$	(38)	$	(43)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(300)	$	(264)	Salaries and employee benefits
Amortization of prior service costs		(2)		(3)	Salaries and employee benefits
Taxes		81		107	Provision for Income Tax Expense
	$	(221)	$	(160)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(41)	$	(36)	Salaries and employee benefits
Amortization of prior service costs		0		0	Salaries and employee benefits
Taxes		11		15	Provision for Income Tax Expense
	$	(30)	$	(21)	Net of tax

Total reclassifications for the period	$	(152)	$	(196)	Net of tax