| OTHER COMPREHENSIVE INCOME (LOSS) |
Note
15
OTHER
COMPREHENSIVE INCOME (LOSS)
FASB
Topic ASC 220, Comprehensive Income requires that certain transactions and other economic events that bypass the income
statement be displayed as other comprehensive income. Total comprehensive income is reported in the consolidated statements
of comprehensive income and changes in shareowners equity.
The
following table summarizes the tax effects for each component of other comprehensive income (loss):
| |
|
Before |
|
|
Tax |
|
|
Net
of |
|
| |
|
Tax |
|
|
(Expense) |
|
|
Tax |
|
| (Dollars
in Thousands) |
|
Amount |
|
|
Benefit |
|
|
Amount |
|
| 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change
in net unrealized gain/loss on securities available for sale |
|
$ |
(378 |
) |
|
$ |
145 |
|
|
$ |
(233 |
) |
Amortization
of losses on securities transferred from available for sale to
held to maturity |
|
|
76 |
|
|
|
(31 |
) |
|
|
45 |
|
| Reclassification
adjustment for net gain included in net income |
|
|
5 |
|
|
|
(2 |
) |
|
|
3 |
|
| Total
Investment Securities |
|
|
(297 |
) |
|
|
112 |
|
|
|
(185 |
) |
| Benefit
Plans: |
|
|
|
|
|
|
|
|
|
|
|
|
| Reclassification
adjustment for amortization of prior service cost |
|
|
316 |
|
|
|
(122 |
) |
|
|
194 |
|
| Reclassification
adjustment for amortization of net loss |
|
|
3,743 |
|
|
|
(1,444 |
) |
|
|
2,299 |
|
| Current
year actuarial (loss) gain |
|
|
(4,975 |
) |
|
|
1,919 |
|
|
|
(3,056 |
) |
| Total
Benefit Plans |
|
|
(916 |
) |
|
|
353 |
|
|
|
(563 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Other Comprehensive Loss |
|
$ |
(1,213 |
) |
|
$ |
465 |
|
|
$ |
(748 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change
in net unrealized gain/loss on securities available for sale |
|
$ |
250 |
|
|
$ |
(103 |
) |
|
$ |
147 |
|
Amortization
of losses on securities transferred from available for sale to
held to maturity |
|
|
70 |
|
|
|
(27 |
) |
|
|
43 |
|
| Reclassification
adjustment for net gain included in net income |
|
|
1 |
|
|
|
|
|
|
|
1 |
|
| Total
Investment Securities |
|
|
321 |
|
|
|
(130 |
) |
|
|
191 |
|
| Benefit
Plans: |
|
|
|
|
|
|
|
|
|
|
|
|
| Reclassification
adjustment for amortization of prior service cost |
|
|
473 |
|
|
|
(182 |
) |
|
|
291 |
|
| Reclassification
adjustment for amortization of net loss |
|
|
705 |
|
|
|
(272 |
) |
|
|
433 |
|
| Current
year actuarial (loss) gain |
|
|
(22,603 |
) |
|
|
8,719 |
|
|
|
(13,884 |
) |
| Total
Benefit Plans |
|
|
(21,425 |
) |
|
|
8,265 |
|
|
|
(13,160 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Other Comprehensive Loss |
|
$ |
(21,104 |
) |
|
$ |
8,135 |
|
|
$ |
(12,969 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change
in net unrealized gain/loss on securities available for sale |
|
$ |
(1,252 |
) |
|
$ |
483 |
|
|
$ |
(769 |
) |
Unrealized
losses on securities transferred from available for sale to
held to maturity |
|
|
(523 |
) |
|
|
202 |
|
|
|
(321 |
) |
Amortization
of losses on securities transferred from available for sale to
held to maturity |
|
|
25 |
|
|
|
(10 |
) |
|
|
15 |
|
| Reclassification
adjustment for net gain included in net income |
|
|
3 |
|
|
|
(1 |
) |
|
|
2 |
|
| Reclassification
adjustment for impairment loss realized in net income |
|
|
600 |
|
|
|
(232 |
) |
|
|
368 |
|
| Total
Investment Securities |
|
|
(1,147 |
) |
|
|
442 |
|
|
|
(705 |
) |
| Benefit
Plans: |
|
|
|
|
|
|
|
|
|
|
|
|
| Reclassification
adjustment for amortization of prior service cost |
|
|
504 |
|
|
|
(194 |
) |
|
|
310 |
|
| Reclassification
adjustment for amortization of net loss |
|
|
4,079 |
|
|
|
(1,574 |
) |
|
|
2,505 |
|
| Current
year actuarial gain (loss) |
|
|
30,784 |
|
|
|
(11,875 |
) |
|
|
18,909 |
|
| Total
Benefit Plans |
|
|
35,367 |
|
|
|
(13,643 |
) |
|
|
21,724 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Other Comprehensive Income |
|
$ |
34,220 |
|
|
$ |
(13,201 |
) |
|
$ |
21,019 |
|
Accumulated
other comprehensive loss was comprised of the following components:
| |
|
|
|
|
|
|
|
|
|
| (Dollars
in Thousands) |
|
Securities
Available
for Sale |
|
|
Retirement
Plans |
|
|
Accumulated
Other
Comprehensive
Loss |
|
| Balance
as of January 1, 2015 |
|
$ |
59 |
|
|
$ |
(21,568 |
) |
|
$ |
(21,509 |
) |
| Other
comprehensive (loss) during the period |
|
|
(186 |
) |
|
|
(562 |
) |
|
|
(748 |
) |
| Balance
as of December 31, 2015 |
|
$ |
(127 |
) |
|
$ |
(22,130 |
) |
|
$ |
(22,257 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance as of January
1, 2014 |
|
$ |
(132 |
) |
|
$ |
(8,408 |
) |
|
$ |
(8,540 |
) |
| Other
comprehensive income (loss) during the period |
|
|
191 |
|
|
|
(13,160 |
) |
|
|
(12,969 |
) |
| Balance
as of December 31, 2014 |
|
$ |
59 |
|
|
$ |
(21,568 |
) |
|
$ |
(21,509 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance as of January
1, 2013 |
|
$ |
573 |
|
|
$ |
(30,132 |
) |
|
$ |
(29,559 |
) |
| Other
comprehensive (loss) income during the period |
|
|
(705 |
) |
|
|
21,724 |
|
|
|
21,019 |
|
| Balance
as of December 31, 2013 |
|
$ |
(132 |
) |
|
$ |
(8,408 |
) |
|
$ |
(8,540 |
) |
|