Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Note 18 – Accumulated Other Comprehensive Income (Loss)
AOCI includes net income as well as unrealized gains and losses, net of tax, on AFS investment securities owned and changes in the funded status of our defined benefit pension plan, which are excluded from net income. Unrealized AFS securities gains and losses and changes in the funded status of the pension plan, net of tax, are excluded from net income, and are reflected as a direct charge or credit to shareholders’ equity. Comprehensive income (loss) and the related components are disclosed in the consolidated statements of comprehensive income.
The following table summarizes the changes in AOCI by component for the years ended December 31 (net of tax):
  
Unrealized
Holding Gains
(Losses) on
AFS
Securities
 
Change in Unrecognized Pension Cost on Defined
Benefit
Pension Plan
 
Total
Balance, January 1, 2011
$
444

 
$
(2,153
)
 
$
(1,709
)
OCI before reclassifications
9,220

 
(2,109
)
 
7,111

Amounts reclassified from AOCI
(3
)
 
138

 
135

Subtotal
9,217

 
(1,971
)
 
7,246

Tax effect
(3,719
)
 
671

 
(3,048
)
OCI, net of tax
5,498

 
(1,300
)
 
4,198

Balance, December 31, 2011
5,942

 
(3,453
)
 
2,489

OCI before reclassifications
3,921

 
(580
)
 
3,341

Amounts reclassified from AOCI
(837
)
 
251

 
(586
)
Subtotal
3,084

 
(329
)
 
2,755

Tax effect
(348
)
 
111

 
(237
)
OCI, net of tax
2,736

 
(218
)
 
2,518

Balance, December 31, 2012
8,678

 
(3,671
)
 
5,007

OCI before reclassifications
(18,971
)
 
2,120

 
(16,851
)
Amounts reclassified from AOCI
(171
)
 
208

 
37

Subtotal
(19,142
)
 
2,328

 
(16,814
)
Tax effect
6,257

 
(791
)
 
5,466

OCI, net of tax
(12,885
)
 
1,537

 
(11,348
)
Balance, December 31, 2013
$
(4,207
)
 
$
(2,134
)
 
$
(6,341
)

Included in OCI for the years ended December 31, 2013 and 2012 are changes in unrealized holding gains and losses related to auction rate money market preferred and preferred stocks. For federal income tax purposes, these securities are considered equity investments. As such, no deferred federal income taxes related to unrealized holding gains or losses are expected or recorded.
A summary of the components of unrealized holding gains on AFS securities included in OCI follows for the years ended December 31:
 
2013
 
2012
 
2011

Auction Rate Money Market Preferred and Preferred Stocks
 
All Other AFS securities
 
Total
 
Auction Rate Money Market Preferred and Preferred Stocks
 
All Other AFS securities
 
Total
 
Auction Rate Money Market Preferred and Preferred Stocks
 
All Other AFS securities
 
Total
Unrealized gains (losses) arising during the period
$
(737
)
 
$
(18,234
)
 
$
(18,971
)
 
$
2,059

 
$
1,862

 
$
3,921

 
$
(1,719
)
 
$
10,939

 
$
9,220

Reclassification adjustment for net realized (gains) losses included in net income
—

 
(171
)
 
(171
)
 
—

 
(1,119
)
 
(1,119
)
 
—

 
(3
)
 
(3
)
Reclassification adjustment for impairment loss included in net income
—

 
—

 
—

 
—

 
282

 
282

 
—

 
—

 
—

Net unrealized gains (losses)
(737
)
 
(18,405
)
 
(19,142
)
 
2,059

 
1,025

 
3,084

 
(1,719
)
 
10,936

 
9,217

Tax effect
—

 
6,257

 
6,257

 
—

 
(348
)
 
(348
)
 
—

 
(3,719
)
 
(3,719
)
Unrealized gains (losses), net of tax
$
(737
)
 
$
(12,148
)
 
$
(12,885
)
 
$
2,059

 
$
677

 
$
2,736

 
$
(1,719
)
 
$
7,217

 
$
5,498


The following table details reclassification adjustments and the related affected line items on our consolidated statements of income for the years ended December 31:
Details about AOCI components
Amount
Reclassified from
AOCI
 
Affected Line Item in the
Consolidated
Statements of Income
 
2013
 
2012
 
2011
 
 
Unrealized holding gains (losses) on AFS securities
 
 
 
 
 
 
 
 
$
171

 
$
1,119

 
$
3

 
Net gain (loss) on sale of AFS securities
 
—

 
(282
)
 
—

 
Net AFS impairment loss
 
171

 
837

 
3

 
Income before federal income tax expense
 
58

 
285

 
1

 
Federal income tax expense
 
$
113

 
$
552

 
$
2

 
Net income
 
 
 
 
 
 
 
 
Change in unrecognized pension cost on defined benefit pension plan
 
 
 
 
 
 
 
 
$
208

 
$
251

 
$
138

 
Compensation and benefits
 
71

 
85

 
47

 
Federal income tax expense
 
$
137

 
$
166

 
$
91

 
Net income