Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2012

Other Comprehensive Income (Loss) [Abstract]

OTHER COMPREHENSIVE INCOME (LOSS)

14. OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) included in the Consolidated Statements of Shareholders’ Equity consists of unrealized gains and losses on available for sale securities and reflects no change in unrealized gains and losses on postretirement liability. The change includes reclassification of gains on sales of securities of $4.0 million and no impairment charges at June 30, 2012, and gains on sales of securities of $1.5 million and impairment charges of $38,000 at June 30, 2011.

Other comprehensive income (loss) components and related tax effects for the three and six month periods are as follows:

	Three months ended
	June 30,			June 30,
	2012			2011
	(Dollars in thousands)
Unrealized holding gain on securities available for sale	$	8,980		$	7,675
Reclassification adjustment for gains realized in income		(3,555	)		(201	)
Net unrealized gains		5,425			7,474
Tax effect (35%)		—			—
Net of tax amount	$	5,425		$	7,474

	Six months ended
	June 30,			June 30,
	2012			2011
	(Dollars in thousands)
Unrealized holding gain on securities available for sale	$	6,511		$	7,205
Reclassification adjustment for gains realized in income		(3,969	)		(1,504	)
Net unrealized gains		2,542			5,701
Tax effect (35%)		—			—
Net of tax amount	$	2,542		$	5,701

The following is a summary of accumulated other comprehensive income (loss) balances, net of tax:

	Balance at December 31,  2011		Current Period Change		Balance at June 30,  2012
Unrealized gains on securities available for sale	$	3,447	$	2,542	$	5,989
Unrealized gains on post-retirement benefits		1,585		—		1,585
Total	$	5,032	$	2,542	$	7,574