Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.4.0.3
Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the three months ended March 31, 2016 and 2015 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 March 31, 2016
 
 
 
 
 
 
 
Balance at beginning of period
$
(2,331
)
 
$
9

 
$
2,007

 
$
(315
)
Other comprehensive income (loss) before reclassification
9,723

 
—

 
(4,044
)
 
5,679

Balance at end of period
$
7,392

 
$
9

 
$
(2,037
)
 
$
5,364

 
 
 
 
 
 
 
 
For the three months ended March 31, 2015
 
 
 
 
 
 
 
Balance at beginning of period
$
(985
)
 
$
16

 
$
1,432

 
$
463

Other comprehensive income (loss) before reclassification
12,043

 
—

 
(4,123
)
 
7,920

Reclassification from accumulated other comprehensive income
(2,184
)
 
—

 
—

 
(2,184
)
Period change
9,859

 
—

 
(4,123
)
 
5,736

Balance at end of period
$
8,874

 
$
16

 
$
(2,691
)
 
$
6,199



For the three months ended March 31, 2016, there was no reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. For the three months ended March 31, 2015, there was a $2.2 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $2.2 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 $535,000 in accumulated other comprehensive income as of December 31, 2014.