OTHER COMPREHENSIVE INCOME (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| OTHER COMPREHENSIVE INCOME |
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| Summary of OCI components and related tax effects |
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Years Ended December 31, (in thousands)
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2016
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2015
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2014
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Available for Sale Securities:
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Change in unrealized gain (loss) on securities available for sale
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$
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(2,294)
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$
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(3,160)
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$
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2,021
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Reclassification adjustment for gain on security available for sale recognized in earnings
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—
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(88)
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—
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Change in unrealized gain on security available for sale for which a portion of an other-than-temporary impairment has been recognized in earnings
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(9)
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(125)
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475
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Net unrealized gains (losses)
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(2,303)
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(3,373)
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2,496
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Tax effect
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807
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1,181
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(875)
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Net of tax
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(1,496)
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(2,192)
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1,621
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Cash Flow Hedges:
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Change in fair value of derivatives used for cash flow hedges
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(125)
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(514)
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(1,082)
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Reclassification amount for derivative losses realized in income
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332
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402
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424
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Net unrealized gains (losses)
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207
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(112)
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(658)
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Tax effect
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(73)
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38
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231
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Net of tax
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134
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(74)
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(427)
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Total other comprehensive income (loss) components, net of tax
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$
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(1,362)
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$
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(2,266)
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$
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1,194
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| Summary of amounts reclassified out of each component of AOCI |
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Amounts Reclassified From
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Accumulated Other
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Affected Line Items in the Consolidated
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Comprehensive Income
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Years Ended December 31, (in thousands)
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Statements of Income
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2016
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2015
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2014
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Available for Sale Securities:
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Gain on call of security available for sale
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Noninterest income
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$
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—
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$
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88
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$
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—
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Tax effect
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Income tax expense
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—
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(31)
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—
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Net of tax
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Net income
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—
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57
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—
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Cash Flow Hedges:
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Interest rate swap on money market deposits
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Interest expense on deposits
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(168)
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(198)
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(201)
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Interest rate swap on FHLB advance
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Interest expense on FHLB advances
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(164)
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(204)
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(223)
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Total derivative losses on cash flow hedges
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Total interest expense
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(332)
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(402)
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(424)
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Tax effect
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Income tax expense
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116
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141
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70
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Net of tax
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Net income
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(216)
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(261)
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(354)
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Net of tax, total all reclassification amounts
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Net income
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$
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(216)
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$
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(204)
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$
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(354)
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| Summary of the AOCI balances, net of tax |
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2016
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(in thousands)
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December 31, 2015
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Change
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December 31, 2016
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Unrealized gain on securities available for sale
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$
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1,727
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$
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(1,490)
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$
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237
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Unrealized gain on security available for sale for which a portion of an other-than-temporary impairment has been recognized in earnings
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712
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(6)
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706
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Unrealized loss on cash flow hedge
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(390)
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134
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(256)
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Total unrealized gain
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$
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2,049
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$
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(1,362)
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$
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687
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2015
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(in thousands)
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December 31, 2014
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Change
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December 31, 2015
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Unrealized gain on securities available for sale
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$
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3,839
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$
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(2,112)
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$
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1,727
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Unrealized gain on security available for sale for which a portion of an other-than-temporary impairment has been recognized in earnings
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792
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(80)
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712
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Unrealized loss on cash flow hedge
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(316)
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(74)
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(390)
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Total unrealized gain
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$
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4,315
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$
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(2,266)
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$
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2,049
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