Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.3.0.814
Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2015
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the three months ended September 30, 2015 and 2014 was as follows:
 
Unrealized Gains
and Losses on
Available for Sale
Securities
 
Unrealized Gains
and Losses on
Interest-Only
Strip
 
Tax Benefit (Expense)
 
Total
 
(in thousands)
For the three months ended September 30, 2015
 
 
 
 
 
 
 
Balance at beginning of period
$
(1,079
)
 
$
16

 
$
1,486

 
$
423

Other comprehensive income (loss) before reclassification
5,064

 
(7
)
 
(1,274
)
 
3,783

Reclassification from accumulated other comprehensive income
(2,048
)
 
—

 
—

 
(2,048
)
Period change
3,016

 
(7
)
 
(1,274
)
 
1,735

Balance at end of period
$
1,937

 
$
9

 
$
212

 
$
2,158

For the three months ended September 30, 2014
 
 
 
 
 
 
 
Balance at beginning of period
$
(5,534
)
 
$
17

 
$
3,367

 
$
(2,150
)
Other comprehensive (loss) income before reclassification
(4,947
)
 
(3
)
 
2,102

 
(2,848
)
Reclassification from accumulated other comprehensive income
(67
)
 
—

 
—

 
(67
)
Period change
(5,014
)
 
(3
)
 
2,102

 
(2,915
)
Balance at end of period
$
(10,548
)
 
$
14

 
$
5,469

 
$
(5,065
)


For the three months ended September 30, 2015, there was a $2.0 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $2.0 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities under noninterest income. The securities sold had a recorded unrealized gain of $1.2 million in accumulated other comprehensive income as of June 30, 2015.

For the three months ended September 30, 2014, there was a $67,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $67,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities under noninterest income. The securities sold had a recorded unrealized gain of $23,000 in accumulated other comprehensive income as of June 30, 2014.

Activity in accumulated other comprehensive income for the nine months ended September 30, 2015 and 2014 was as follows:
 
Unrealized Gains
and Losses  on
Available for Sale
Securities
 
Unrealized Gains
and Losses on
Interest-Only
Strip
 
Tax Benefit
(Expense)
 
Total
 
(in thousands)
For the nine months ended September 30, 2015
 
 
 
 
 
 
 
Balance at beginning of period
$
(985
)
 
$
16

 
$
1,432

 
$
463

Other comprehensive income (loss) before reclassification
9,066

 
(7
)
 
(1,220
)
 
7,839

Reclassification from accumulated other comprehensive income
(6,144
)
 
—

 
—

 
(6,144
)
Period change
2,922

 
(7
)
 
(1,220
)
 
1,695

Balance at end of period
$
1,937

 
$
9

 
$
212

 
$
2,158

For the nine months ended September 30, 2014
 
 
 
 
 
 
 
Balance at beginning of period
$
(18,187
)
 
$
16

 
$
8,791

 
$
(9,380
)
Other comprehensive income (loss) before reclassification
9,491

 
(2
)
 
(3,322
)
 
6,167

Reclassification from accumulated other comprehensive income
(1,852
)
 
—

 
—

 
(1,852
)
Period change
7,639

 
(2
)
 
(3,322
)
 
4,315

Balance at end of period
$
(10,548
)
 
$
14

 
$
5,469

 
$
(5,065
)


For the nine months ended September 30, 2015, there was a $6.1 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $6.1 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities under noninterest income. The securities sold had a recorded unrealized gain of $2.0 million in accumulated other comprehensive income as of December 31, 2014.

For the nine months ended September 30, 2014, there was a $1.9 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $1.9 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities under noninterest income. The securities sold had a recorded unrealized loss of $498,000 in accumulated other comprehensive income as of December 31, 2013.