Note 5 - Other Comprehensive Income (Loss)

3 Months Ended

Jun. 30, 2011

Comprehensive Income (Loss) Note [Text Block]

NOTE 5 -- OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) components and related taxes for the six months ended June 30, 2011 and 2010 were as follows:

(in thousands)	2011			2010
Net unrealized gains on securities available-for-sale	$	1,541		$	5,289
Reclassification adjustment for realized gains included in income		(2,682	)		(722	)
Other comprehensive income (loss), before tax effect		(1,141	)		4,567
Tax expense (benefit)		(442	)		1,769
Other comprehensive income (loss)	$	(699	)	$	2,798

The components of accumulated other comprehensive income, included in stockholders’ equity at June 30, 2011 and 2010, are as follows:

(in thousands)	2011			2010
Net unrealized gains on securities available-for-sale	$	4,391		$	9,694
Net unrealized benefit obligations		(530	)		(530	)
		3,861			9,164
Tax effect		(1,496	)		(3,550	)
Net-of-tax amount	$	2,365		$	5,614