Other Comprehensive (Loss) Income

12 Months Ended

Dec. 31, 2011

Other Comprehensive (Loss) Income [Abstract]

Other Comprehensive (Loss) Income

OTHER COMPREHENSIVE (LOSS) INCOME (Note 18)

The following table presents the tax effects allocated to each component of other comprehensive (loss) income for the years ended December 31, 2011, 2010, and 2009. Components of other comprehensive (loss) income include changes in net unrealized gains (losses) on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to certain securities during the period); unrealized gains (losses) on derivatives used in cash flow hedging relationships; and the unfunded portion of various employee, officer and director pension plans.

	2011									2010									2009
	Before Tax			Tax Effect			After Tax			Before Tax			Tax Effect			After Tax			Before Tax			Tax Effect			After Tax
	(in thousands)
Unrealized gains and losses on AFS securities
Net gains arising during the period	$	2,438		$	(925	)	$	1,513		$	20,376		$	(7,739	)	$	12,637		$	70,869		$	(23,518	)	$	47,351
Less reclassification adjustment for gains included in net income		(32,068	)		12,394			(19,674	)		(11,598	)		4,268			(7,330	)		(8,005	)		3,002			(5,003	)
Net change		(29,630	)		11,469			(18,161	)		8,778			(3,471	)		5,307			62,864			(20,516	)		42,348
Non-credit impairment losses on securities available for sale and held to maturity
Net change in non-credit impairment losses on securities		(42,531	)		15,875			(26,656	)		5,301			(1,973	)		3,328			(4,111	)		1,337			(2,774	)
Less reclassification adjustment for credit impairment losses included in net income		18,570			(6,937	)		11,633			4,381			(1,640	)		2,741			1,530			2,237			3,767
Net change		(23,961	)		8,938			(15,023	)		9,682			(3,613	)		6,069			(2,581	)		3,574			993
Unrealized gains and losses on derivatives (cash flow hedges)
Net (losses) gains arising during the period		(24,393	)		10,236			(14,157	)		1,493			(627	)		866			3,475			(1,458	)		2,017
Less reclassification adjustment for losses included in net income		3,067			(1,287	)		1,780			1,967			(825	)		1,142			460			(193	)		267
Net change		(21,326	)		8,949			(12,377	)		3,460			(1,452	)		2,008			3,935			(1,651	)		2,284
Pension benefit adjustment		(19,219	)		8,058			(11,161	)		1,225			(512	)		713			7,052			(2,957	)		4,095
Total other comprehensive (loss) income	$	(94,136	)	$	37,414		$	(56,722	)	$	23,145		$	(9,048	)	$	14,097		$	71,270		$	(21,550	)	$	49,720

The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the years ended December 31, 2011, 2010, and 2009:

	Components of Accumulated Other Comprehensive Loss Total
	Unrealized Gains and Losses on AFS Securities			Non-credit Impairment Losses on Securities			Unrealized Gains and Losses on Derivatives			Pension Benefit Adjustment			Accumulated Other Comprehensive Loss
	(in thousands)
Balance—December 31, 2008	$	(32,725	)	$	—		$	(5,000	)	$	(23,206	)	$	(60,931	)
Cumulative effect of adoption of a new accounting principle (ASC Topic 320)		—			(8,605	)		—			—			(8,605	)
Balance—January 1, 2009		(32,725	)		(8,605	)		(5,000	)		(23,206	)		(69,536	)
Net change		42,348			993			2,284			4,095			49,720
Balance—December 31, 2009		9,623			(7,612	)		(2,716	)		(19,111	)		(19,816	)
Net change		5,307			6,069			2,008			713			14,097
Balance—December 31, 2010		14,930			(1,543	)		(708	)		(18,398	)		(5,719	)
Net change		(18,161	)		(15,023	)		(12,377	)		(11,161	)		(56,722	)
Balance—December 31, 2011	$	(3,231	)	$	(16,566	)	$	(13,085	)	$	(29,559	)	$	(62,441	)