Comprehensive Income

6 Months Ended

Jun. 30, 2011

Shareholders' Equity & Comprehensive Income [Abstract]

Comprehensive Income

Note 24 — Comprehensive Income

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income. The components of other comprehensive income and related tax effects are as follows:

	Three months ended						Six months ended
	June 30,						June, 30
	2011			2010			2011			2010
(in thousands)
Unrealized holding gains (losses) on available-for-sale securities	$	2,689		$	3,588		$	2,302		$	3,200
Tax effect		(1,131	)		(1,183	)		(968	)		(1,346	)
Unrealized holding gains (losses) on available-for-sale securities, net of tax	$	1,558		$	2,405		$	1,334		$	1,854

The components of accumulated other comprehensive loss, included in shareholders’ equity, are as follows:

	June 30,			December 31,
	2011			2010
	(in thousands)
Net unrealized gains (losses) on available-for-sale securities	$	10,238		$	7,936
Tax effect		(4,305	)		(3,337	)
Unrealized holding gains (losses) on available-for-sale securities, net of tax		5,933			4,599
Minimum pension liability		(5,770	)		(5,770	)
Tax effect		2,426			2,426
Minimum pension liability, net of tax		(3,344	)		(3,344	)
Joint beneficiary agreement liability		96			96
Tax effect		(41	)		(41	)
Joint beneficiary agreement liability, net of tax		55			55
Accumulated other comprehensive income (loss)	$	2,644		$	1,310