Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.5.0.2
Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the three months ended September 30, 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)
September 30, 2016
 
 
 
 
 
 
 
Balance at beginning of period
$
13,816

 
$
—

 
$
(4,695
)
 
$
9,121

Other comprehensive (loss) income before reclassification
(2,629
)
 
—

 
1,109

 
(1,520
)
Reclassification from accumulated other comprehensive income
(46
)
 
—

 
—

 
(46
)
Period change
(2,675
)
 
—

 
1,109

 
(1,566
)
Balance at end of period
$
11,141

 
$
—

 
$
(3,586
)
 
$
7,555

 
 
 
 
 
 
 
 
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, 2016, there was $46,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $46,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities under noninterest income. Net unrealized gains of $321,000 related to these sold securities had previously been recorded in accumulated other comprehensive income.

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. Net unrealized gains of $1.2 million related to these sold securities had previously been recorded in accumulated other comprehensive income.

Activity in accumulated other comprehensive income for the nine months ended September 30, 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)
September 30, 2016
 
 
 
 
 
 
 
Balance at beginning of period
$
(2,331
)
 
$
9

 
$
2,007

 
$
(315
)
Other comprehensive income (loss) before reclassification
13,518

 
(9
)
 
(5,593
)
 
7,916

Reclassification from accumulated other comprehensive income
(46
)
 
—

 
—

 
(46
)
Period change
13,472

 
(9
)
 
(5,593
)
 
7,870

Balance at end of period
$
11,141

 
$
—

 
$
(3,586
)
 
$
7,555

 
 
 
 
 
 
 
 
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, 2016, there was a $46,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $46,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities under noninterest income. Net unrealized losses of $314,000 related to these sold securities had previously been recorded in accumulated other comprehensive income.

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. Net unrealized gains of $2.0 million related to these sold securities had previously been recorded in accumulated other comprehensive income.