Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.7.0.1
Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the three months ended March 31, 2017 and 2016 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)
March 31, 2017
 
 
 
 
 
 
 
Balance at beginning of period
$
(4,089
)
 
$
—

 
$
1,695

 
$
(2,394
)
Other comprehensive income before reclassification
1,620

 
—

 
(560
)
 
1,060

Reclassification from accumulated other comprehensive income
(269
)
 
—

 
—

 
(269
)
Period change
1,351

 
—

 
(560
)
 
791

Balance at end of period
$
(2,738
)
 
$
—

 
$
1,135

 
$
(1,603
)
 
 
 
 
 
 
 
 
March 31, 2016
 
 
 
 
 
 
 
Balance at beginning of period
$
(2,331
)
 
$
9

 
$
2,007

 
$
(315
)
Other comprehensive income 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, 2017, there was $269,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $269,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities under noninterest income. Net unrealized gains of $319,000 related to these sold securities had previously been recorded in accumulated other comprehensive income as of the beginning of the period. There was no sale of securities during the three months ended March 31, 2016.