Note 17 - Comprehensive Income
Total comprehensive income
includes all changes in equity during a period from transactions and other events and circumstances from nonowner sources. The
Company’s other comprehensive income (loss) is comprised of unrealized holding gains and losses on securities available-for-sale,
obligations for defined benefit pension plan and an adjustment to reflect the curtailment of the Company’s defined benefit
pension plan, net of taxes.
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Affected Line Item in the |
| Details about Accumulated Other |
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Amounts Reclassified from Accumulated |
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Consolidated Statements |
| Comprehensive Income Components |
|
Other Comprehensive Income |
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of Income |
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|
Twelve Months Ended |
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|
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December 31, |
|
|
| (dollars in thousands) |
|
2016 |
|
2015 |
|
2014 |
|
|
| Sale of investment securities available-for-sale |
|
|
4,234 |
|
|
3,931 |
|
|
2,818 |
|
Net gains on sale investment securities |
| |
|
|
(1,682) |
|
|
(1,564) |
|
|
(986) |
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Income tax expense |
| |
|
|
2,552 |
|
|
2,367 |
|
|
1,832 |
|
|
| Amortization of unrealized holding (losses) gains on securities transferred from available-for-sale to held-to-maturity |
|
|
(1,986) |
|
|
(220) |
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|
(215) |
|
Interest income |
| |
|
|
813 |
|
|
90 |
|
|
91 |
|
Income tax benefit |
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|
|
(1,173) |
|
|
(130) |
|
|
(124) |
|
|
| Amortization of pension plan net actuarial losses |
|
|
(407) |
|
|
(433) |
|
|
(204) |
|
Salaries and employee benefits |
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|
|
165 |
|
|
177 |
|
|
83 |
|
Income tax benefit |
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|
|
(242) |
|
|
(256) |
|
|
(121) |
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| Total reclassification |
|
$ |
1,137 |
|
$ |
1,981 |
|
$ |
1,587 |
|
|
Accumulated other comprehensive loss at December
31, 2016 and 2015 consisted of the following:
| |
|
2016 |
|
2015 |
|
| |
|
(dollars in thousands) |
|
| Investment securities available-for-sale, net of tax |
|
$ |
933 |
|
$ |
713 |
|
| Cash flow hedge, net of tax |
|
|
52 |
|
|
(77) |
|
Unamortized component of securities transferred from
available-for-sale to held-to-maturity, net of tax |
|
|
- |
|
|
(1,173) |
|
| Defined benefit pension and post-retirement plans, net of tax |
|
|
(3,831) |
|
|
(4,072) |
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| Total |
|
$ |
(2,846) |
|
$ |
(4,609) |
|
|