| OTHER COMPREHENSIVE INCOME |
NOTE 9 – OTHER COMPREHENSIVE INCOME
The amounts allocated to other comprehensive income are presented in the table below. Reclassification adjustments related to securities held for sale are included in net gain/loss on securities transactions in the accompanying consolidated statements of comprehensive income. For the periods presented, reclassifications adjustments related to securities held for sale was not material.
|
|
|
Before |
|
Tax |
|
Net of |
|
|
|
Tax |
|
(Expense) |
|
Tax |
|
(Dollars in Thousands)
|
Amount |
|
Benefit |
|
Amount |
| Three Months Ended June 30, 2019 |
|
|
|
|
|
|
|
|
| Investment Securities: |
|
|
|
|
|
|
|
|
| Change in net unrealized gain/loss on securities available for sale |
$ |
1,736 |
|
$ |
(439) |
|
$ |
1,297 |
| Amortization of losses on securities transferred from available for sale to held to |
|
|
|
|
|
|
|
|
|
maturity |
|
11 |
|
|
(4) |
|
|
7 |
|
|
Total Other Comprehensive Loss |
$ |
1,747 |
|
$ |
(443) |
|
$ |
1,304 |
|
|
|
|
|
|
|
|
|
|
|
| Six Months Ended June 30, 2019 |
|
|
|
|
|
|
|
|
| Investment Securities: |
|
|
|
|
|
|
|
|
| Change in net unrealized gain/loss on securities available for sale |
$ |
2,985 |
|
$ |
(756) |
|
$ |
2,229 |
| Amortization of losses on securities transferred from available for sale to held to |
|
|
|
|
|
|
|
|
|
maturity |
|
22 |
|
|
(6) |
|
|
16 |
|
|
Total Other Comprehensive Loss |
$ |
3,007 |
|
$ |
(762) |
|
$ |
2,245 |
|
|
|
Before |
|
Tax |
|
Net of |
|
|
|
Tax |
|
(Expense) |
|
Tax |
|
(Dollars in Thousands)
|
Amount |
|
Benefit |
|
Amount |
| Three Months Ended June 30, 2018 |
|
|
|
|
|
|
|
|
| Investment Securities: |
|
|
|
|
|
|
|
|
| Change in net unrealized gain/loss on securities available for sale |
$ |
(265) |
|
$ |
67 |
|
$ |
(198) |
| Amortization of losses on securities transferred from available for sale to held to |
|
|
|
|
|
|
|
|
|
maturity |
|
14 |
|
|
(4) |
|
|
10 |
|
|
Total Other Comprehensive Loss |
$ |
(251) |
|
$ |
63 |
|
$ |
(188) |
|
|
|
|
|
|
|
|
|
|
|
| Six Months Ended June 30, 2018 |
|
|
|
|
|
|
|
|
| Investment Securities: |
|
|
|
|
|
|
|
|
| Change in net unrealized gain/loss on securities available for sale |
$ |
(1,752) |
|
$ |
443 |
|
$ |
(1,309) |
| Amortization of losses on securities transferred from available for sale to held to |
|
|
|
|
|
|
|
|
|
maturity |
|
28 |
|
|
(7) |
|
|
21 |
|
|
Total Other Comprehensive Income |
$ |
(1,724) |
|
$ |
436 |
|
$ |
(1,288) |
| Accumulated other comprehensive loss was comprised of the following components: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
Securities |
|
|
|
|
Other |
|
Available |
|
Retirement |
|
Comprehensive |
|
(Dollars in Thousands)
|
for Sale |
|
Plans |
|
Loss |
| Balance as of January 1, 2019 |
$ |
(2,008) |
|
$ |
(26,807) |
|
$ |
(28,815) |
| Other comprehensive income during the period |
|
2,245 |
|
|
- |
|
|
2,245 |
| Balance as of June 30, 2019 |
$ |
237 |
|
$ |
(26,807) |
|
$ |
(26,570) |
|
|
|
|
|
|
|
|
|
| Balance as of January 1, 2018 |
$ |
(1,743) |
|
$ |
(30,301) |
|
$ |
(32,044) |
| Other comprehensive loss during the period |
|
(1,288) |
|
|
- |
|
|
(1,288) |
| Balance as of June 30, 2018 |
$ |
(3,031) |
|
$ |
(30,301) |
|
$ |
(33,332) |
|