Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income

v3.5.0.2
Accumulated Other Comprehensive Income
 6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income

Activity in accumulated other comprehensive income for the three months ended June 30, 2016 and 2015 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, 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

 
 
 
 
 
 
 
 
June 30, 2015
 
 
 
 
 
 
 
Balance at beginning of period
$
8,874

 
$
16

 
$
(2,691
)
 
$
6,199

Other comprehensive loss 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, 2016, there was no reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. 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. Net unrealized gains of $4.1 million related to these sold securities had previously been recorded in accumulated other comprehensive income.

Activity in accumulated other comprehensive income for the six months ended June 30, 2016 and 2015 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, 2016
 
 
 
 
 
 
 
Balance at beginning of period
$
(2,331
)
 
$
9

 
$
2,007

 
$
(315
)
Other comprehensive income
16,147

 
(9
)
 
(6,702
)
 
9,436

Balance at end of period
$
13,816

 
$
—

 
$
(4,695
)
 
$
9,121

 
 
 
 
 
 
 
 
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, 2016, there was no reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. 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. Net unrealized gains of $1.2 million related to these sold securities had previously been recorded in accumulated other comprehensive income.