COMPREHENSIVE INCOME

9 Months Ended

Sep. 30, 2011

COMPREHENSIVE INCOME [Abstract]

COMPREHENSIVE INCOME

NOTE 7 – COMPREHENSIVE INCOME

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

	Three months ended September 30,
	2011									2010
	Before			Tax			Net			Before			Tax			Net
	tax			(expense)			of tax			tax			(expense)			of tax
	amount			benefit			amount			amount			benefit			amount
Net unrealized gains on available-for-	(In thousands)
sale securities:
Unrealized gains arising during
holding period	$	14,563		$	(5,578	)	$	8,985		$	5,421		$	(2,078	)	$	3,343
Less:  Reclassification adjustment for
net gains realized in net income		(2,047	)		783			(1,264	)		(2,327	)		890			(1,437	)
Recognized employee benefit plan
net periodic benefit cost		947			(362	)		585			645			(247	)		398
Other comprehensive income	$	13,463		$	(5,157	)	$	8,306		$	3,739		$	(1,435	)	$	2,304
Net income								11,934									11,260
Comprehensive income							$	20,240								$	13,564

	Nine months ended September 30,
	2011									2010
	Before			Tax			Net			Before			Tax			Net
	tax			(expense)			of tax			tax			(expense)			of tax
	amount			benefit			amount			amount			benefit			amount
Net unrealized gains on available-for-	(In thousands)
sale securities:
Unrealized gains arising
during holding period	$	56,981		$	(21,823	)	$	35,158		$	10,351		$	(3,962	)	$	6,389
Less:  Reclassification adjustment for
net gains realized in net income		(12,109	)		4,632			(7,477	)		(3,039	)		1,162			(1,877	)
Recognized employee benefit plan
net periodic benefit cost		2,213			(846	)		1,367			1,931			(739	)		1,192
Other comprehensive income	$	47,085		$	(18,037	)	$	29,048		$	9,243		$	(3,539	)	$	5,704
Net income								24,266									7,096
Comprehensive income							$	53,314								$	12,800

Included with unrealized gains arising during holding period is an increase in other comprehensive income related to the transfer of held-to-maturity securities to the available-for-sale category.