Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (LOSS)

v2.4.0.8
OTHER COMPREHENSIVE INCOME (LOSS)
6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 10 – OTHER COMPREHENSIVE INCOME (LOSS)

 

The amounts allocated to other comprehensive income (loss) 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.

 

 (Dollars in Thousands)   Before
Tax Amount
  Tax
(Expense)
Benefit
  Net of
Tax Amount
Three Months Ended June 30, 2014                        
Investment Securities:                        
Change in net unrealized (gain) loss   $ 257     $ (99 )   $ 158  
Amortization of losses on securities transferred from available for sale to held to maturity     16       (6 )     10  
Total Other Comprehensive Income   $ 273     $ (105 )   $ 168  
                         
Six Months Ended June 30, 2014                        
Investment Securities:                        
Change in net unrealized (gain) loss   $ 252     $ (98 )   $ 154  
Amortization of losses on securities transferred from available for sale to held to maturity     36       (14 )     22  
Total Other Comprehensive Loss   $ 288     $ (112 )   $ 176  

 

 (Dollars in Thousands)   Before
Tax Amount
  Tax
(Expense)
Benefit
  Net of
Tax Amount
Three Months Ended June 30, 2013                        
Investment Securities:                        
Change in net unrealized (gain) loss   $ (1,615 )   $ 623     $ (992 )
Reclassification adjustment for impairment loss realized in net income     200       —         200  
Total Other Comprehensive Income   $ (1,415 )   $ 623     $ (792 )
                         
Six Months Ended June 30, 2013                        
Investment Securities:                        
Change in net unrealized (gain) loss   $ (1,608 )   $ 622     $ (986 )
Reclassification adjustment for impairment loss realized in net income     200       —         200  
Total Other Comprehensive Loss   $ (1,408 )   $ 622     $ (786 )

 

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, 2014   $ (132 )   $ (8,408 )   $ (8,540 )
Other comprehensive income during the period     176       —         176  
Balance as of June 30, 2014   $ 44     $ (8,408 )   $ (8,364 )
                         
Balance as of January 1, 2013   $ 573     $ (30,132 )   $ (29,559 )
Other comprehensive loss during the period     (786 )     —         (786 )
Balance as of June 30, 2013   $ (213 )   $ (30,132 )   $ (30,345 )