| Change in Accumulated Other Comprehensive Income |
The change in accumulated other comprehensive income (loss) for the year ended December 31, 2018 is summarized as follows, net of tax (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized
Gains (Losses)
on AFS
Securities |
|
Unrealized
Gains (Losses) for AFS
Securities
Transferred
to HTM |
|
Change in Fair
Value of Cash
Flow Hedges |
|
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 standards (2) (3)
|
465 |
|
|
583 |
|
|
(1,094 |
) |
|
— |
|
|
(46 |
) |
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Other comprehensive income (loss) before reclassification |
(10,711 |
) |
|
— |
|
|
1,087 |
|
|
— |
|
|
(9,624 |
) |
Amounts reclassified from AOCI into earnings |
(362 |
) |
|
(408 |
) |
|
975 |
|
|
76 |
|
|
281 |
|
Net current period other comprehensive income (loss) |
(11,073 |
) |
|
(408 |
) |
|
2,062 |
|
|
76 |
|
|
(9,343 |
) |
Balance - December 31, 2018 |
$ |
(5,949 |
) |
|
$ |
95 |
|
|
$ |
(3,393 |
) |
|
$ |
(1,026 |
) |
|
$ |
(10,273 |
) |
(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 of these amounts from AOCI to retained earnings.
(3) During the first quarter of 2018, the Company adopted ASU No. 2016-01 "Financial Instruments - Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities." As part of this adoption, the Company reclassified approximately $61,000 of these amounts from AOCI to retained earnings.
The change in accumulated other comprehensive income (loss) for the year ended December 31, 2017 is summarized as follows, net of tax (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized Gains (Losses) on AFS Securities |
|
Unrealized
Gains (Losses) for AFS
Securities
Transferred
to HTM |
|
Change in Fair Value of Cash Flow Hedges |
|
Unrealized Gains (Losses) on BOLI |
|
Total |
Balance - December 31, 2016 |
$ |
(542 |
) |
|
$ |
3,377 |
|
|
$ |
(5,179 |
) |
|
$ |
(1,465 |
) |
|
$ |
(3,809 |
) |
Other comprehensive income (loss) |
2,936 |
|
|
— |
|
|
(44 |
) |
|
— |
|
|
2,892 |
|
Amounts reclassified from accumulated other comprehensive income |
(520 |
) |
|
(672 |
) |
|
862 |
|
|
363 |
|
|
33 |
|
Net current period other comprehensive income (loss) |
2,416 |
|
|
(672 |
) |
|
818 |
|
|
363 |
|
|
2,925 |
|
Balance - December 31, 2017 |
$ |
1,874 |
|
|
$ |
2,705 |
|
|
$ |
(4,361 |
) |
|
$ |
(1,102 |
) |
|
$ |
(884 |
) |
The change in accumulated other comprehensive income (loss) for the year ended December 31, 2016 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 Hedges |
|
Unrealized Gains (Losses) on BOLI |
|
Total |
Balance - December 31, 2015 |
$ |
7,777 |
|
|
$ |
4,432 |
|
|
$ |
(5,957 |
) |
|
$ |
— |
|
|
$ |
6,252 |
|
Other comprehensive income (loss) |
(8,186 |
) |
|
— |
|
|
270 |
|
|
(1,728 |
) |
|
(9,644 |
) |
Amounts reclassified from accumulated other comprehensive income |
(133 |
) |
|
(1,055 |
) |
|
508 |
|
|
263 |
|
|
(417 |
) |
Net current period other comprehensive income (loss)
|
$ |
(8,319 |
) |
|
$ |
(1,055 |
) |
|
$ |
778 |
|
|
$ |
(1,465 |
) |
|
$ |
(10,061 |
) |
Balance - December 31, 2016 |
$ |
(542 |
) |
|
$ |
3,377 |
|
|
$ |
(5,179 |
) |
|
$ |
(1,465 |
) |
|
$ |
(3,809 |
) |
|