Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.2.0.727
Accumulated Other Comprehensive Income
 6 Months Ended
Jun. 30, 2015
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the three months ended June 30, 2015 and 2014 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 June 30, 2015
 
 
 
 
 
 
 
Balance at beginning of period
$
8,874

 
$
16

 
$
(2,691
)
 
$
6,199

Other comprehensive income before reclassification
(8,041
)
 
—

 
4,177

 
(3,864
)
Reclassification from accumulated other comprehensive income
(1,912
)
 
—

 
—

 
(1,912
)
Period change
(9,953
)
 
—

 
4,177

 
(5,776
)
Balance at end of period
$
(1,079
)
 
$
16

 
$
1,486

 
$
423

For the three months ended June 30, 2014
 
 
 
 
 
 
 
Balance at beginning of period
$
(11,510
)
 
$
17

 
$
5,984

 
$
(5,509
)
Other comprehensive income before reclassification
6,340

 
—

 
(2,617
)
 
3,723

Reclassification from accumulated other comprehensive income
(364
)
 
—

 
—

 
(364
)
Period change
5,976

 
—

 
(2,617
)
 
3,359

Balance at end of period
$
(5,534
)
 
$
17

 
$
3,367

 
$
(2,150
)


For the three months ended June 30, 2015, there was a $1.9 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $1.9 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 $4.1 million in accumulated other comprehensive income as of March 31, 2015.

For the three months ended June 30, 2014, there was a $364,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $364,000 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 $100,000 in accumulated other comprehensive income as of March 31, 2014.

Activity in accumulated other comprehensive income for the six months ended June 30, 2015 and 2014 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 six months ended June 30, 2015
 
 
 
 
 
 
 
Balance at beginning of period
$
(985
)
 
$
16

 
$
1,432

 
$
463

Other comprehensive income before reclassification
4,002

 
—

 
54

 
4,056

Reclassification from accumulated other comprehensive income
(4,096
)
 
—

 
—

 
(4,096
)
Period change
(94
)
 
—

 
54

 
(40
)
Balance at end of period
$
(1,079
)
 
$
16

 
$
1,486

 
$
423

For the six months ended June 30, 2014
 
 
 
 
 
 
 
Balance at beginning of period
$
(18,187
)
 
$
16

 
$
8,791

 
$
(9,380
)
Other comprehensive income before reclassification
14,438

 
1

 
(5,424
)
 
9,015

Reclassification from accumulated other comprehensive income
(1,785
)
 
—

 
—

 
(1,785
)
Period change
12,653

 
1

 
(5,424
)
 
7,230

Balance at end of period
$
(5,534
)
 
$
17

 
$
3,367

 
$
(2,150
)


For the six months ended June 30, 2015, there was a $4.1 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $4.1 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 $1.2 million in accumulated other comprehensive income as of December 31, 2014.

For the six months ended June 30, 2014, there was a $1.8 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $1.8 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 loss of $177,000 in accumulated other comprehensive income as of December 31, 2013.