COMPREHENSIVE INCOME

9 Months Ended

Sep. 30, 2013

COMPREHENSIVE INCOME [Abstract]

COMPREHENSIVE INCOME

NOTE 7 – COMPREHENSIVE INCOME

The following tables present the components of other comprehensive (loss) income and the related tax effects allocated to each component for the periods indicated:

	Three months ended September 30,
	2013			2012
	Before		Net	Before		Net
	tax	Tax	of tax	tax	Tax	of tax
	amount	effect	amount	amount	effect	amount
Net unrealized (losses) gains on available-for-	(In thousands)
sale securities:
Unrealized (losses) gains arising during
holding period	$     (1,439)	$         554	$        (885)	$      6,820	$     (2,613)	$      4,207
Reclassification adjustment for
net losses (gains) realized in net income (1)	5	(1)	4	(39)	15	(24)
Recognized employee benefit plan
net periodic benefit cost (2)	1,337	(512)	825	704	(269)	435
Other comprehensive (loss) income	$          (97)	$           41	$          (56)	$      7,485	$     (2,867)	$      4,618
Net income			24,857			23,825
Comprehensive  income			$     24,801			$    28,443

	Nine months ended September 30,
	2013			2012
	Before		Net	Before		Net
	tax	Tax	of tax	tax	Tax	of tax
	amount	effect	amount	amount	effect	amount
Net unrealized (losses) gains on available-for-	(In thousands)
sale securities:
Unrealized (losses) gains arising
during holding period	$   (53,820)	$    20,610	$   (33,210)	$    10,519	$     (4,034)	$      6,485
Reclassification adjustment for
net gains realized in net income (1)	(17)	7	(10)	(290)	111	(179)
Recognized employee benefit plan
net periodic benefit cost (2)	4,011	(1,534)	2,477	3,088	(1,181)	1,907
Other comprehensive (loss) income	$   (49,826)	$    19,083	$   (30,743)	$    13,317	$     (5,104)	$      8,213
Net income			66,417			67,315
Comprehensive  income			$     35,674			$    75,528

(1)  Reclassification adjustments for net gains (losses) on available-for-sale securities are reported as net security gains (losses) on the consolidated statements of income.

(2)  Recognized employee benefit plan net periodic benefit cost include amortization of unrecognized transition amount,recognized prior service cost and recognized net loss.  For more information, see Note 9 - Pension Benefits.