Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v2.4.0.6
Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2013
Accumulated Other Comprehensive Income [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME
8. ACCUMULATED OTHER COMPREHENSIVE INCOME

The change in accumulated other comprehensive income for the three months ended March 31, 2013 and 2012 are summarized as follows net of tax (dollars in thousands):

 

                         
    Unrealized Gains
(losses) on
Securities		     Change in FV of
Cash Flow Hedge		     Total  

Balance - December 31, 2012

   $ 14,573     $ (4,489 )    $ 10,084  
   

 

 

    

 

 

    

 

 

  
       

Other comprehensive income (loss) before reclass

     (2,107 )      286       (1,821 ) 
       

Reclassification adjustment for losses included in net income

     7       —         7  
   

 

 

    

 

 

    

 

 

  
       

Net current period other comprehensive income (loss)

     (2,100 )      286       (1,814 ) 
   

 

 

    

 

 

    

 

 

  

    

                        
   

 

 

    

 

 

    

 

 

  

Balance - March 31, 2013

   $ 12,473     $ (4,203 )    $ 8,270  
   

 

 

    

 

 

    

 

 

  

 

                         
    Unrealized Gains
on Securities		     Change in FV of
Cash Flow Hedge		     Total  

Balance - December 31, 2011

   $ 13,943     $ (4,293 )    $ 9,650  
   

 

 

    

 

 

    

 

 

  
       

Other comprehensive income before reclass

     662       197       859  
       

Reclassification adjustment for losses included in net income

     3       —         3  
   

 

 

    

 

 

    

 

 

  
       

Net current period other comprehensive income

     665       197       862  
   

 

 

    

 

 

    

 

 

  

    

                        
   

 

 

    

 

 

    

 

 

  

Balance - March 31, 2012

   $ 14,608     $ (4,096 )    $ 10,512  
   

 

 

    

 

 

    

 

 

  

Reclassifications of unrealized gains (losses) on available-for-sale (“AFS”) securities are reported in the income statement as “Gains on securities transactions” with the corresponding income tax effect being reflected as a component of income tax expense. During the three months ended for March 31, 2013 and 2012, the Company reported losses of $11,000 and $5,000, respectively, related to gains/losses on the sale of securities; the tax effect of these transactions was $4,000 and $2,000, respectively, which was included as a component of income tax expense.