| OTHER COMPREHENSIVE INCOME (LOSS) |
Note 14
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):
| (Dollars in Thousands) |
|
Before
Tax Amount |
|
Tax
(Expense) Benefit |
|
Net of
Tax Amount |
| 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change in net unrealized (gain) loss |
|
$ |
(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 |
|
|
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 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change in net unrealized (gain) loss |
|
$ |
(786 |
) |
|
$ |
295 |
|
|
$ |
(491 |
) |
| Total Investment Securities |
|
|
(786 |
) |
|
|
295 |
|
|
|
(491 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Benefit Plans: |
|
|
|
|
|
|
|
|
|
|
|
|
| Reclassification adjustment for amortization of prior service cost |
|
|
548 |
|
|
|
(211 |
) |
|
|
337 |
|
| Reclassification adjustment for amortization of net loss |
|
|
3,021 |
|
|
|
(1,165 |
) |
|
|
1,856 |
|
| Current year actuarial loss |
|
|
(12,587 |
) |
|
|
4,855 |
|
|
|
(7,732 |
) |
| Total Benefit Plans |
|
|
(9,018 |
) |
|
|
3,479 |
|
|
|
(5,539 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Other Comprehensive Loss |
|
$ |
(9,804 |
) |
|
$ |
3,774 |
|
|
$ |
(6,030 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 2011 |
|
|
|
|
|
|
|
|
|
|
|
|
| Investment Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change in net unrealized (gain) loss |
|
$ |
600 |
|
|
$ |
(203 |
) |
|
$ |
397 |
|
| Total Investment Securities |
|
|
600 |
|
|
|
(203 |
) |
|
|
397 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Benefit Plans: |
|
|
|
|
|
|
|
|
|
|
|
|
| Reclassification adjustment for amortization of prior service cost |
|
|
643 |
|
|
|
(248 |
) |
|
|
395 |
|
| Reclassification adjustment for amortization of net loss |
|
|
1,810 |
|
|
|
(698 |
) |
|
|
1,112 |
|
| Current year actuarial loss |
|
|
(15,763 |
) |
|
|
6,081 |
|
|
|
(9,682 |
) |
| Total Benefit Plans |
|
|
(13,310 |
) |
|
|
5,135 |
|
|
|
(8,175 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Other Comprehensive Loss |
|
$ |
(12,710 |
) |
|
$ |
4,932 |
|
|
$ |
(7,778 |
) |
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, 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 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance as of January 1, 2012 |
|
$ |
1,064 |
|
|
$ |
(24,593 |
) |
|
$ |
(23,529 |
) |
| Other comprehensive loss during the period |
|
|
(491 |
) |
|
|
(5,539 |
) |
|
|
(6,030 |
) |
| Balance as of December 31, 2012 |
|
$ |
573 |
|
|
$ |
(30,132 |
) |
|
$ |
(29,559 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Balance as of January 1, 2011 |
|
$ |
667 |
|
|
$ |
(16,418 |
) |
|
$ |
(15,751 |
) |
| Other comprehensive income (loss) during the period |
|
|
397 |
|
|
|
(8,175 |
) |
|
|
(7,778 |
) |
| Balance as of December 31, 2011 |
|
$ |
1,064 |
|
|
$ |
(24,593 |
) |
|
$ |
(23,529 |
) |
|