| Activity in Accumulated Other Comprehensive Income |
Activity in accumulated other comprehensive income for the three months ended June 30, 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) |
June 30, 2017 |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
(2,737 |
) |
|
$ |
— |
|
|
$ |
1,134 |
|
|
$ |
(1,603 |
) |
Other comprehensive income before reclassification |
3,910 |
|
|
— |
|
|
(1,232 |
) |
|
2,678 |
|
Reclassification from accumulated other comprehensive income |
(938 |
) |
|
— |
|
|
— |
|
|
(938 |
) |
Period change |
2,972 |
|
|
— |
|
|
(1,232 |
) |
|
1,740 |
|
Balance at end of period |
$ |
235 |
|
|
$ |
— |
|
|
$ |
(98 |
) |
|
$ |
137 |
|
|
|
|
|
|
|
|
|
June 30, 2016 |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
7,392 |
|
|
$ |
9 |
|
|
$ |
(2,037 |
) |
|
$ |
5,364 |
|
Other comprehensive income (loss) |
6,424 |
|
|
(9 |
) |
|
(2,658 |
) |
|
3,757 |
|
Balance at end of period |
$ |
13,816 |
|
|
$ |
— |
|
|
$ |
(4,695 |
) |
|
$ |
9,121 |
|
For the three months ended June 30, 2017, there was a $938,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $938,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities under noninterest income. Net unrealized gains of $430,000 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 June 30, 2016.
Activity in accumulated other comprehensive income for the six months ended June 30, 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) |
June 30, 2017 |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
(4,089 |
) |
|
$ |
— |
|
|
$ |
1,695 |
|
|
$ |
(2,394 |
) |
Other comprehensive income before reclassification |
5,530 |
|
|
— |
|
|
(1,793 |
) |
|
3,737 |
|
Reclassification from accumulated other comprehensive income |
(1,206 |
) |
|
— |
|
|
— |
|
|
(1,206 |
) |
Period change |
4,324 |
|
|
— |
|
|
(1,793 |
) |
|
2,531 |
|
Balance at end of period |
$ |
235 |
|
|
$ |
— |
|
|
$ |
(98 |
) |
|
$ |
137 |
|
|
|
|
|
|
|
|
|
June 30, 2016 |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
(2,331 |
) |
|
$ |
9 |
|
|
$ |
2,007 |
|
|
$ |
(315 |
) |
Other comprehensive income (loss) |
16,147 |
|
|
(9 |
) |
|
(6,702 |
) |
|
9,436 |
|
Balance at end of period |
$ |
13,816 |
|
|
$ |
— |
|
|
$ |
(4,695 |
) |
|
$ |
9,121 |
|
|