Comprehensive Income

12 Months Ended

Dec. 31, 2011

Shareholders' Equity and 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:

	Years Ended December 31,
	2011			2010			2009
	(in thousands)
Unrealized holding gains (losses) on available-for-sale securities	$	2,594		$	(41	)	$	1,846
Tax effect		(1,090	)		17			(776	)
Unrealized holding gains (losses) on available-for-sale securities, net of tax		1,504			(24	)		1,070
Change in minimum pension liability		1,968			(1,627	)		(1,466	)
Tax effect		(828	)		684			616
Change in minimum pension liability, net of tax		1,140			(943	)		(850	)
Change in joint beneficiary agreement liability		(248	)		(1	)		3
Tax effect		105			—			(1	)
Change in joint beneficiary agreement liability, net of tax		(143	)		(1	)		2
	$	2,501		$	(968	)	$	222

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

	December 31,
	2011			2010
	(in thousands)
Net unrealized gains (losses) on available-for-sale securities	$	10,530		$	7,936
Tax effect		(4,427	)		(3,337	)
Unrealized holding gains (losses) on available-for-sale securities, net of tax		6,103			4,599
Minimum pension liability		(3,802	)		(5,770	)
Tax effect		1,598			2,426
Minimum pension liability, net of tax		(2,204	)		(3,344	)
Joint beneficiary agreement liability		(152	)		96
Tax effect		64			(41	)
Joint beneficiary agreement liability, net of tax		(88	)		55
Accumulated other comprehensive income (loss)	$	3,811		$	1,310