| Change in Accumulated Other Comprehensive Income |
The change in AOCI for the three and nine months ended September 30, 2018 is summarized as follows, net of tax (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized
Gains (Losses)
on AFS
Securities |
|
Unrealized Gain
for AFS
Securities
Transferred to
HTM |
|
Change in Fair
Value of Cash
Flow Hedge |
|
Unrealized Gains (Losses) on BOLI |
|
Total |
Balance - June 30, 2018 |
$ |
(10,813 |
) |
|
$ |
105 |
|
|
$ |
(2,273 |
) |
|
$ |
(1,064 |
) |
|
$ |
(14,045 |
) |
Transfer of HTM securities to AFS securities |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Cumulative effects from adoption of new accounting standard |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss) before reclassification |
(11,310 |
) |
|
— |
|
|
575 |
|
|
— |
|
|
(10,735 |
) |
Amounts reclassified from AOCI into earnings |
(77 |
) |
|
(5 |
) |
|
227 |
|
|
19 |
|
|
164 |
|
Net current period other comprehensive income (loss) |
(11,387 |
) |
|
(5 |
) |
|
802 |
|
|
19 |
|
|
(10,571 |
) |
Balance - September 30, 2018 |
$ |
(22,200 |
) |
|
$ |
100 |
|
|
$ |
(1,471 |
) |
|
$ |
(1,045 |
) |
|
$ |
(24,616 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized
Gains (Losses)
on AFS
Securities
|
|
Unrealized Gain
for AFS
Securities
Transferred to
HTM
|
|
Change in Fair
Value of Cash
Flow Hedge
|
|
Unrealized Gains (Losses) on BOLI |
|
Total |
Balance - December 31, 2017 |
$ |
1,874 |
|
|
$ |
2,705 |
|
|
$ |
(4,361 |
) |
|
$ |
(1,102 |
) |
|
$ |
(884 |
) |
Transfer of HTM securities to AFS securities (1)
|
2,785 |
|
|
(2,785 |
) |
|
— |
|
|
— |
|
|
— |
|
Cumulative effects from adoption of new accounting standard (2)
|
404 |
|
|
583 |
|
|
(1,094 |
) |
|
— |
|
|
(107 |
) |
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss) before reclassification (1)
|
(27,087 |
) |
|
— |
|
|
3,214 |
|
|
— |
|
|
(23,873 |
) |
Amounts reclassified from AOCI into earnings |
(176 |
) |
|
(403 |
) |
|
770 |
|
|
57 |
|
|
248 |
|
Net current period other comprehensive income (loss) |
(27,263 |
) |
|
(403 |
) |
|
3,984 |
|
|
57 |
|
|
(23,625 |
) |
Balance - September 30, 2018 |
$ |
(22,200 |
) |
|
$ |
100 |
|
|
$ |
(1,471 |
) |
|
$ |
(1,045 |
) |
|
$ |
(24,616 |
) |
(1) During the second quarter of 2018, the Company adopted ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities". As part of this adoption, the Company made a one-time election to transfer eligible HTM securities to the AFS category. The transfer of these securities resulted in an increase of approximately $400,000 to AOCI and is included as unrealized gains (losses) on AFS securities above.
(2) During the second quarter of 2018, the Company adopted ASU No. 2018-02 "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." As part of this adoption, the Company reclassified approximately $107,000, which resulted in a reclassification of these amounts from AOCI to retained earnings.
The change in AOCI for the three and nine months ended September 30, 2017 is summarized as follows, net of tax (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized
Gains (Losses)
on AFS
Securities |
|
Unrealized Gain
for AFS
Securities
Transferred to
HTM |
|
Change in Fair
Value of Cash
Flow Hedge |
|
Unrealized Gains (Losses) on BOLI |
|
Total |
Balance - June 30, 2017 |
$ |
7,733 |
|
|
$ |
3,033 |
|
|
$ |
(5,487 |
) |
|
$ |
(1,271 |
) |
|
$ |
4,008 |
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss) before reclassification |
(2,729 |
) |
|
— |
|
|
41 |
|
|
— |
|
|
(2,688 |
) |
Amounts reclassified from AOCI into earnings |
(119 |
) |
|
(163 |
) |
|
189 |
|
|
84 |
|
|
(9 |
) |
Net current period other comprehensive income (loss) |
(2,848 |
) |
|
(163 |
) |
|
230 |
|
|
84 |
|
|
(2,697 |
) |
Balance - September 30, 2017 |
$ |
4,885 |
|
|
$ |
2,870 |
|
|
$ |
(5,257 |
) |
|
$ |
(1,187 |
) |
|
$ |
1,311 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized Gains
(Losses) on AFS
Securities
|
|
Unrealized Gain
for AFS
Securities
Transferred to
HTM
|
|
Change in Fair
Value of Cash
Flow Hedge
|
|
Unrealized Gains (Losses) on BOLI |
|
Total |
Balance - December 31, 2016 |
$ |
(542 |
) |
|
$ |
3,377 |
|
|
$ |
(5,179 |
) |
|
$ |
(1,465 |
) |
|
$ |
(3,809 |
) |
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss) before reclassification |
5,935 |
|
|
— |
|
|
(766 |
) |
|
— |
|
|
5,169 |
|
Amounts reclassified from AOCI into earnings |
(508 |
) |
|
(507 |
) |
|
688 |
|
|
278 |
|
|
(49 |
) |
Net current period other comprehensive income (loss) |
5,427 |
|
|
(507 |
) |
|
(78 |
) |
|
278 |
|
|
5,120 |
|
Balance - September 30, 2017 |
$ |
4,885 |
|
|
$ |
2,870 |
|
|
$ |
(5,257 |
) |
|
$ |
(1,187 |
) |
|
$ |
1,311 |
|
|