Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income

v2.4.1.9
Accumulated Other Comprehensive Income
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Accumulated Other Comprehensive Income

Note 14 — Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the year ended December 31, 2014 and 2013 was as follows:

 

     Unrealized Gains
and Losses on
Available-for-Sale
Securities 		    Unrealized Gains
and Losses on
Interest Rate
Swap 		    Unrealized Gains
and Losses on
Interest-Only
Strip 		    Tax Benefit
(Expense) 		    Total  
                 (In thousands)        

For the year ended December 31, 2014

           

Balance at beginning of period

    $ (18,187 )    $ —        $ 16      $ 8,791      $ (9,380 ) 

Other comprehensive income (loss) before reclassification

      19,213        —          —          (7,359 )      11,854   

Reclassification from accumulated other comprehensive income

      (2,011 )      —          —          —          (2,011 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Period change

   17,202      —        —        (7,359 )    9,843   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at end of period

 $ (985 )  $ —      $ 16    $ 1,432    $ 463   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

For the year ended December 31, 2013

Balance at beginning of period

 $ 7,348    $ —      $ 16    $ (1,946 )  $ 5,418   

Other comprehensive (loss) income before reclassification

   (24,496 )    —        —        10,737      (13,759 ) 

Reclassification from accumulated other comprehensive income

   (1,039 )    —        —        —        (1,039 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Period change

   (25,535 )    —        —        10,737      (14,798 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at end of period

 $ (18,187 )  $ —      $ 16    $ 8,791    $ (9,380 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

For the year ended December 31, 2012

Balance at beginning of period

 $ 4,115    $ (9 )  $ 20    $ (602 )  $ 3,524   

Other comprehensive (loss) income before reclassification

   4,337      9      (4 )    (1,344 )    2,998   

Reclassification from accumulated other comprehensive income

   (1,104 )    —        —        —        (1,104 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Period change

   3,233      9      (4 )    (1,344 )    1,894   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Balance at end of period

 $ 7,348    $ —      $ 16    $ (1,946 )  $ 5,418   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

For the year ended December 31, 2014, there was a $2.0 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and 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 investment securities in noninterest income. The securities were previously recorded as unrealized losses of $498,000 in accumulated other comprehensive income.

For the year ended December 31, 2013, there was a $1.0 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $1.0 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities in noninterest income. The securities were previously recorded as net unrealized gain of $3.3 million in accumulated other comprehensive income.

 

For the years ended December 31, 2012, there was a $1.1 million reclassification from accumulated other comprehensive income to gains in earnings, which resulted from the redemption and sale of available-for-sale securities, and a $292,000 reclassification from other comprehensive loss to OTTI charge in earnings, which resulted from write-down of the value of investment securities to its fair value. The reclassification adjustments of a $1.4 million gain and a $292,000 loss out of accumulated other comprehensive income were included in net gain on sales of investment securities and impairment loss on investment securities, respectively, in noninterest income. The securities were previously recorded as an unrealized gain of $1.7 million in accumulated other comprehensive income.