Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v2.4.0.8
Accumulated Other Comprehensive Income
6 Months Ended
Jun. 30, 2013
Text Block [Abstract]  
Accumulated Other Comprehensive Income

Note 13 — Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the three months periods ended June 30, 2013 and 2012 was as follows:

 

     Unrealized Gains
and Losses on
Available-for-
Sale Securities
    Unrealized Gains
and Losses on
Interest Rate
Swap
    Unrealized Gains
and Losses on
Interest-Only
Strip
    Tax (Expense)
Benefit
    Total  
                 (In thousands)              

For the three months ended June 30, 2013

          

Balance at beginning of period

   $ 6,771      $ —        $ 19      $ (1,695   $ 5,095   

Other comprehensive (loss) income before reclassification

     (5,553     —          (2     2,397        (3,158

Reclassification from accumulated other comprehensive income

     (303     —          —          —          (303
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Period change

     (5,856     —          (2     2,397        (3,461
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at end of period

   $ 915      $ —        $ 17      $ 702      $ 1,634   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

For the three months ended June 30, 2012

          

Balance at beginning of period

   $ 4,789      $ (9   $ 23      $ (602   $ 4,201   

Other comprehensive (loss) income before reclassification

     (82     9        (9     300        218   

Reclassification from accumulated other comprehensive income

     (1,265     —          —          —          (1,265
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Period change

     (1,347     9        (9     300        (1,047
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at end of period

   $ 3,442      $ —        $ 14      $ (302   $ 3,154   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

For the three months ended June 30, 2013, there was a $303,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $303,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under non-interest income. The securities were previously recorded as unrealized gains of $812,000 in accumulated other comprehensive income.

For the three months ended June 30, 2012, there was a $1.3 million reclassification from accumulated other comprehensive income to gains in earnings, which resulted from the redemption and sale of available-for-sale securities. The $1.3 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under non-interest income. The securities were previously recorded as unrealized gains of $1.9 million in accumulated other comprehensive income.

Activity in accumulated other comprehensive income for the six months periods ended June 30, 2013 and 2012 was as follows:

 

    Unrealized Gains
and Losses on
Available-for-
Sale Securities
    Unrealized Gains
and Losses on
Interest Rate
Swap
    Unrealized Gains
and Losses on
Interest-Only
Strip
    Tax (Expense)
Benefit
    Total  
                (In thousands)              

For the six months ended June 30, 2013

         

Balance at beginning of period

  $ 7,348      $ —        $ 16      $ (1,946   $ 5,418   

Other comprehensive (loss) income before reclassification

    (6,121     —          1        2,648        (3,472

Reclassification from accumulated other comprehensive income

    (312     —          —          —          (312
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Period change

    (6,433     —          1        2,648        (3,784
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at end of period

  $ 915      $ —        $ 17      $ 702      $ 1,634   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

For the six months ended June 30, 2012

         

Balance at beginning of period

  $ 4,115      $ (9   $ 20      $ (602   $ 3,524   

Other comprehensive (loss) income before reclassification

    593        9        (6     300        896   

Reclassification from accumulated other comprehensive income

    (1,266     —          —          —          (1,266
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Period change

    (673     9        (6     300        (370
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at end of period

  $ 3,442      $ —        $ 14      $ (302   $ 3,154   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

For the six months ended June 30, 2013, there was a $312,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $312,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under non-interest income. The securities were previously recorded as unrealized gains of $856,000 in accumulated other comprehensive income.

 

For the six months ended June 30, 2012, there was a $1.3 million reclassification from accumulated other comprehensive income to gains in earnings, which resulted from the redemption and sale of available-for-sale securities. The $1.3 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under non-interest income. The securities were previously recorded as an unrealized gain of $1.7 million in accumulated other comprehensive income.