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, 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 September 30, 2014                        
Investment Securities:                        
Change in net unrealized gain/loss on securities available for sale   $ (173 )   $ 61     $ (112 )
Amortization of losses on securities transferred from available for sale to held to maturity     17       (7 )     10  
Total Other Comprehensive Loss   $ (156 )   $ 54     $ (102 )
                         
Nine Months Ended September 30, 2014                        
Investment Securities:                        
Change in net unrealized gain/ loss on securities available for sale   $ 78     $ (36 )   $ 42  
Amortization of losses on securities transferred from available for sale to held  to maturity     53       (20 )     33  
Total Other Comprehensive Income   $ 131     $ (56 )   $ 75  
                   
 (Dollars in Thousands)   Before
Tax
Amount
    Tax
(Expense)
Benefit
    Net of
Tax
Amount
 
Three Months Ended September 30, 2013                        
Investment Securities:                        
Change in net unrealized gain/loss on securities available for sale   $ 459     $ (177 )   $ 282  
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     7       (3 )     4  
Reclassification adjustment for impairment loss realized in net income     210       (158 )     52  
Total Other Comprehensive Income   $ 153     $ 136     $ 17  
                         
Nine Months Ended September 30, 2013                        
Investment Securities:                        
Change in net unrealized gain/loss on securities available for sale   $ (1,149 )   $ 445     $ (704 )
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     7       (3 )     4  
Reclassification adjustment for impairment loss realized in net income     410       (158 )     252  
Total Other Comprehensive Loss   $ (1,255 )   $ 486     $ (769 )
                         

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     75       —       75  
Balance as of September 30, 2014   $ (57 )   $ (8,408 )   $ (8,465 )
                         
Balance as of January 1, 2013   $ 573     $ (30,132 )   $ (29,559 )
Other comprehensive loss during the period     (769 )     —       (769 )
Balance as of September 30, 2013   $ (196 )   $ (30,132 )   $ (30,328 )