Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (LOSS)

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OTHER COMPREHENSIVE INCOME (LOSS)
9 Months Ended
Sep. 30, 2013
Other Income and Expenses [Abstract]  
OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 9 – OTHER COMPREHENSIVE INCOME (LOSS)

 

The following is a summary of the activity within other comprehensive income and the amounts allocated to accumulated other comprehensive income at the end of each reporting period. The reclassification adjustment related to other than temporary impairment on securities available for sale was included in other expense in the accompanying consolidated statements of operations.

 

 

 

    Three Months Ended
September 30, 2013
  Nine Months Ended
September 30, 2013
(Dollars in Thousands)   Before Tax Amount   Tax Expense (Benefit)   Net of
Tax Amount
  Before Tax Amount   Tax Expense (Benefit)   Net of
Tax Amount
Investment Securities:                                                
Change in net unrealized gain (loss)   $ 459     $ 169     $ 290     $ (1,149 )   $ (449 )   $ (700 )
Unrealized losses on securities transferred from available for sale to held to maturity     (516 )     (200 )     (316 )     (516 )     (200 )     (316 )
Amortization of unrealized losses on securities transferred from available for sale to held to maturity     (7 )     (2 )     (5 )     (7 )     (2 )     (5 )
Reclassification adjustment for impairment loss realized in net income     210       162       48       410       158       252  
Total other comprehensive income (loss)   $ 146     $ (129 )   $ 17     $ (1,262 )   $ (493 )   $ (769 )

 

 

    Three Months Ended
September 30, 2012
  Nine Months Ended
September 30, 2012
(Dollars in Thousands)   Before Tax Amount   Tax Expense (Benefit)   Net of
Tax Amount
  Before Tax Amount   Tax Expense (Benefit)   Net of
Tax Amount
Investment Securities:                                                
Change in net unrealized gain   $ (24 )   $ (10 )   $ (14 )   $ (754 )   $ (286 )   $ (468 )
Total other comprehensive loss   $ (24 )   $ (10 )   $ (14 )   $ (754 )   $ (286 )   $ (468 )

 

 

 

Amounts allocated to accumulated other comprehensive loss, net of tax, were as follows:

 

 

 

(Dollars in Thousands)

  Securities Available for Sale   Retirement
Plans
  Accumulated Other Comprehensive Loss, Net of Taxes
Balance, January 1, 2013   $ 573     $ (30,132 )   $ (29,559 )
Other comprehensive loss before reclassifications     (1,021 )     —         (1,021 )
Amount reclassified from accumulated other comprehensive loss     252       —         252  
Net other comprehensive loss during the period     (769 )     —         (769 )
Balance, September 30, 2013   $ (196 )   $ (30,132 )   $ (30,328 )
                         
Balance, January 1, 2012   $ 1,064     $ (24,593 )   $ (23,529 )
Other comprehensive loss     (468 )     —         (468 )
Net other comprehensive loss during the period     (468 )     —         (468 )
Balance, September 30, 2012   $ 596     $ (24,593 )   $ (23,997 )