Note 8 – 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, 2018 and the three-month period ended March 31, 2019:



(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, 2018	$	(2,939)	$	(2,979)	$	(1,347)	$	582	$	(17,066)	$	(844)	$	(24,593)
Other comprehensive income/(loss) before reclassifications		1,194		(540)		0		191		(1,833)		202		(786)
Amounts reclassified from accumulated other comprehensive loss		(154)		(82)		216		0		882		114		976
Balance – December 31, 2018	$	(1,899)	$	(3,601)	$	(1,131)	$	773	$	(18,017)	$	(528)	$	(24,403)
Other comprehensive income/(loss) before reclassifications		(44)		901		0		(315)		1,933		0		2,475
Amounts reclassified from accumulated other comprehensive loss		(36)		4		55		0		196		21		240
Balance - March 31, 2019	$	(1,979)	$	(2,696)	$	(1,076)	$	458	$	(15,888)	$	(507)	$	(21,688)

The following tables present the components of other comprehensive income/(loss) for the three-month periods ended March 31, 2019 and 2018:


Components of Other Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended March 31, 2019
Available for sale (AFS) securities with OTTI:
Unrealized holding losses	$	(60)	$	16	$	(44)
Less: accretable yield recognized in income		49		(13)		36
Net unrealized losses on investments with OTTI		(109)		29		(80)

Available for sale securities – all other:
Unrealized holding gains		1,236		(335)		901
Less: losses recognized in income		(6)		2		(4)
Net unrealized gains on all other AFS securities		1,242		(337)		905

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(75)		20		(55)
Net unrealized gains on HTM securities		75		(20)		55

Cash flow hedges:
Unrealized holding losses		(432)		117		(315)

Pension Plan:
Unrealized net actuarial gain		2,652		(719)		1,933
Less: amortization of unrecognized loss		(269)		73		(196)
Net pension plan liability adjustment		2,921		(792)		2,129

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(29)		7		(22)
Less: amortization of prior service costs		1		0		1
Net SERP liability adjustment		28		(7)		21
Other comprehensive income	$	3,725	$	(1,010)	$	2,715


Components of Other Comprehensive Income (in thousands)	Before Tax Amount		Tax (Expense) Benefit		Net
For the three months ended March 31, 2018
Available for sale (AFS) securities with OTTI:
Unrealized holding gains	$	939	$	(254)	$	685
Less: accretable yield recognized in income		55		(15)		40
Net unrealized gains on investments with OTTI		884		(239)		645

Available for sale securities – all other:
Unrealized holding losses		(1,487)		402		(1,085)
Less: losses recognized in income		(9)		2		(7)
Net unrealized losses on all other AFS securities		(1,478)		400		(1,078)

Held to maturity securities:
Unrealized holding gains		0		0		0
Less: amortization recognized in income		(76)		31		(45)
Net unrealized gains on HTM securities		76		(31)		45

Cash flow hedges:
Unrealized holding gains		607		(164)		443

Pension Plan:
Unrealized net actuarial gain		707		(191)		516
Less: amortization of unrecognized loss		(300)		81		(219)
Less: amortization of prior service costs		(2)		1		(1)
Net pension plan liability adjustment		1,009		(273)		736

SERP:
Unrealized net actuarial loss		0		0		0
Less: amortization of unrecognized loss		(41)		11		(30)
Less: amortization of prior service costs		1		0		1
Net SERP liability adjustment		40		(11)		29
Other comprehensive income	$	1,138	$	(318)	$	820

The following table presents the details of amount reclassified from accumulated other comprehensive loss for the three-month periods ended March 31, 2019 and 2018:



Amounts Reclassified from Accumulated Other Comprehensive Loss (in thousands)	For the three months ended March 31, 2019		For the three months ended March 31, 2018		Affected Line Item in the Statement Where Net Income is Presented
Net unrealized gains on investment securities with OTTI:
Accretable yield		49		55	Interest income on taxable investment securities
Taxes		(13)		(15)	Provision for income tax expense
	$	36	$	40	Net of tax
Net unrealized losses on available for sale investment securities - all others:
Losses on calls	$	(6)	$	(9)	Net gains
Taxes		2		2	Provision for income tax expense
	$	(4)	$	(7)	Net of tax
Net unrealized losses on held to maturity securities:
Amortization	$	(75)	$	(76)	Interest income on taxable investment securities
Taxes		20		31	Provision for income tax expense
	$	(55)	$	(45)	Net of tax
Net pension plan liability adjustment:
Amortization of unrecognized loss	$	(269)	$	(300)	Other Expense
Amortization of prior service costs		0		(2)	Salaries and employee benefits
Taxes		73		82	Provision for income tax expense
	$	(196)	$	(220)	Net of tax
Net SERP liability adjustment:
Amortization of unrecognized loss	$	(29)	$	(41)	Other Expense
Amortization of prior service costs		1		1	Salaries and employee benefits
Taxes		7		11	Provision for income tax expense
	$	(21)	$	(29)	Net of tax

Total reclassifications for the period	$	(240)	$	(261)	Net of tax