Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income

v3.3.1.900
Accumulated Other Comprehensive Income
 12 Months Ended
Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
Activity in accumulated other comprehensive income for the year ended December 31, 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 year ended December 31, 2015
 
 
 
 
 
 
 
Balance at beginning of period
$
(985
)
 
$
16

 
$
1,432

 
$
463

Other comprehensive income (loss) before reclassification
5,265

 
(7
)
 
575

 
$
5,833

Reclassification from accumulated other comprehensive income
(6,611
)
 


 
—

 
$
(6,611
)
Period change
(1,346
)
 
(7
)
 
575

 
$
(778
)
Balance at end of period
$
(2,331
)

$
9


$
2,007


$
(315
)
For the year ended December 31, 2014
 
 
 
 
 
 
 
Balance at beginning of period
$
(18,187
)
 
$
16

 
$
8,791

 
$
(9,380
)
Other comprehensive (loss) income before reclassification
19,213

 
—

 
(7,359
)
 
$
11,854

Reclassification from accumulated other comprehensive income
(2,011
)
 
—

 
—

 
$
(2,011
)
Period change
17,202

 
—

 
(7,359
)
 
9,843

Balance at end of period
$
(985
)

$
16


$
1,432


$
463

For the year ended December 31, 2013
 
 
 
 
 
 
 
Balance at beginning of period
$
7,348

 
$
16

 
$
(1,946
)
 
$
5,418

Other comprehensive (loss) income before reclassification
(24,496
)
 
—

 
10,737

 
$
(13,759
)
Reclassification from accumulated other comprehensive income
(1,039
)
 
—

 
—

 
$
(1,039
)
Period change
(25,535
)
 
—

 
10,737

 
(14,798
)
Balance at end of period
$
(18,187
)

$
16


$
8,791


$
(9,380
)

For the year ended December 31, 2015, there was a $6.6 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $6.6 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities in noninterest income. The securities were previously recorded as unrealized gains of $1.9 million in accumulated other comprehensive income.
For the year ended December 31, 2014, there was a $2.0 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and 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 in noninterest income. The securities were previously recorded as unrealized losses of $498,000 in accumulated other comprehensive income.
For the year ended December 31, 2013, there was a $1.0 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $1.0 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of securities in noninterest income. The securities were previously recorded as net unrealized gains of $3.3 million in accumulated other comprehensive income.