Note 5 - Other Comprehensive Income

3 Months Ended

Sep. 30, 2011

Comprehensive Income (Loss) Note [Text Block]

NOTE 5 -- OTHER COMPREHENSIVE INCOME

Other comprehensive income components and related taxes for the nine months ended September 30, 2011 and 2010 were as follows:

(in thousands)	2011			2010
Net unrealized gains on securities available-for-sale	$	6,373		$	7,040
Reclassification adjustment for realized gains included in income		(2,693	)		(722	)
Other comprehensive income, before tax effect		3,680			6,318
Tax expense		1,425			2,448
Other comprehensive income	$	2,255		$	3,870

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

(in thousands)	2011			2010
Net unrealized gains on securities available-for-sale	$	9,213		$	11,445
Net unrealized benefit obligations		(530	)		(531	)
		8,683			10,914
Tax effect		(3,364	)		(4,228	)
Net-of-tax amount	$	5,319		$	6,686