Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v2.4.1.9
Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Accumulated Other Comprehensive Income

Note 10 – Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the three months ended March 31, 2015 and 2014 was as follows:

 

    

Unrealized Gains

and Losses on

Available-for-Sale

    

Unrealized Gains

and Losses on

Interest-Only

               
                   
          Tax Benefit        
     Securities     Strip      (Expense)     Total  
           (In thousands)        

For the three months ended March 31, 2015

          

Balance at beginning of period

    $ (985 )    $ 16       $ 1,432      $ 463   

Other comprehensive income (loss) before reclassification

      12,043        —           (4,123 )      7,920   

Reclassification from accumulated other comprehensive income

      (2,184 )      —           —          (2,184 ) 
  

 

 

    

 

 

     

 

 

    

 

 

  

Period change

   9,859      —        (4,123 )    5,736   
  

 

 

    

 

 

     

 

 

    

 

 

  

Balance at end of period

 $ 8,874    $ 16    $ (2,691 )  $ 6,199   
  

 

 

    

 

 

     

 

 

    

 

 

  

For the three months ended March 31, 2014

Balance at beginning of period

 $ (18,187 )  $ 16    $ 8,791    $ (9,380 ) 

Other comprehensive income (loss) before reclassification

   8,098      1      (2,807 )    5,292   

Reclassification from accumulated other comprehensive income

   (1,421 )    —        —        (1,421 ) 
  

 

 

    

 

 

     

 

 

    

 

 

  

Period change

   6,677      1      (2,807 )    3,871   
  

 

 

    

 

 

     

 

 

    

 

 

  

Balance at end of period

 $ (11,510 )  $ 17    $ 5,984    $ (5,509 ) 
  

 

 

    

 

 

     

 

 

    

 

 

  

For the three months ended March 31, 2015, there was a $2.2 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $2.2 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under noninterest income. The securities sold had a recorded unrealized gain of $535,000 in accumulated other comprehensive income as of December 31, 2014.

For the three months ended March 31, 2014, there was a $1.4 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $1.4 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under noninterest income. The securities sold had a recorded unrealized gain of $59,000 in accumulated other comprehensive income as of December 31, 2013.