CHFC 2017 Annual Report

At December 31, 2017 and 2016, equity securities included zero and 210,663 shares, respectively, of the Corporation's common stock. During both 2017 and 2016, cash dividends of $0.2 million were paid on the Corporation's common stock held by the Pension Plan. The fair value of the Corporation's common stock held in the Pension Plan was zero at December 31, 2017 and $11.4 million at December 31, 2016, which represented zero and 8.6% of Pension Plan assets at December 31, 2017 and 2016, respectively. Accumulated Other Comprehensive Loss The following sets forth the changes in accumulated other comprehensive income (loss), net of tax, related to the Corporation's Pension Plan, Postretirement Plan and SERP during 2017: (Dollars in thousands) Pension Plan Postretirement Plan SERP Total Accumulated other comprehensive income (loss) at beginning of year $ (26,123) $ 724 $ (495) $ (25,894) Comprehensive income (loss) adjustment: Prior service costs (credits) — — — — Net actuarial (income) loss 1,528 (112) 229 1,645 Curtailment 7,742 — — 7,742 Settlement (1) — — 209 209 Comprehensive income (loss) adjustment 9,270 (112) 438 9,596 Reclassification of certain income tax effects (2) (3,630) 132 (12) (3,510) Accumulated other comprehensive income (loss) at end of year $ (20,483) $ 744 $ (69) $ (19,808) (1) The settlement charge relates to the settlement of liabilities under the SERP for the retirement of the plan participant during the third quarter of 2017. (2) The reclassification from accumulated other comprehensive income (loss) to retained earnings was due to the early adoption of ASU 2018-02, see Note 1 for further information. The estimated income (loss) that will be amortized from accumulated other comprehensive income (loss) into net periodic cost, net of tax, in 2018 is as follows: in thousands) Pension Plan Postretirement Plan SERP Total Prior service (costs) credits $ — $ — $ — $ — Net gain (loss) (561) 113 — (448) Total $ (561) $ 113 $ — $ (448) Chemical Financial Corporation Notes to Consolidated Financial Statements December 31, 2017 152