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Comprehensive Income (Tables)
12 Months Ended
Dec. 31, 2012
Components Of Total Comprehensive Income

The changes in accumulated other comprehensive income are as follows:

 

     For the Years Ended December 31  
(In thousands)    2012      2011      2010  

Net Income

     $     82,607         $     75,610         $     71,947   

Available for sale (“AFS”) securities:

        

AFS securities with OTTI charges during the period

     (10,840)         (33,580)         (40,805)   

Related income tax effect

     3,794         11,753         14,282   

Less : OTTI charges recognized in net income

     7,376         20,414         8,523   

Related income tax effect

     (2,582)         (7,145)         (2,983)   

Reclassification of previous noncredit OTTI to credit OTTI

     5,887         12,622         2,611   

Related income tax effect

     (2,061)         (4,418)         (914)   
  

 

 

    

 

 

    

 

 

 

Net unrealized gains (losses) on AFS securities with OTTI

     1,574         (354)         (19,286)   

Net change in unrealized gains on AFS securities arising during the period

     5,471         10,917         33,266   

Related income tax effect

     (1,915)         (3,821)         (11,643)   

Net reclassification adjustment for gains included in net income

     (16)         (1,418)         (351)   

Related income tax effect

     6         496         123   
  

 

 

    

 

 

    

 

 

 
     3,546         6,174         21,395   
  

 

 

    

 

 

    

 

 

 

Net effect of AFS securities on other comprehensive income

     5,120         5,820         2,109   

Held to maturity (“HTM”) securities:

        

Unrealized loss related to the call of HTM securities transferred from AFS to the HTM portfolio

     0         0         130   

Related income tax effect

     0         0         (45)   

Accretion on the unrealized loss for securities transferred from AFS to the HTM investment portfolio prior to call or maturity

     7         8         8   

Related income tax effect

     (3)         (3)         (3)   
  

 

 

    

 

 

    

 

 

 

Net effect of HTM securities on other comprehensive income

     4         5         90   

Cash flow hedge derivatives:

        

Unrealized gain on cash flow hedge

     0         0         5,640   

Related income tax effect

     0         0         (1,974)   

Termination of cash flow hedge

     0         0         2,051   

Related income tax effect

     0         0         (718)   
  

 

 

    

 

 

    

 

 

 

Net effect of cash flow hedge derivatives on other comprehensive income

     0         0         4,999   
  

 

 

    

 

 

    

 

 

 

Defined benefit pension plan:

        

Net actuarial loss during the period

     (10,206)         (20,591)         (1,204)   

Related income tax effect

     3,572         7,206         421   

Amortization of transition asset recognized in net income

     0         0         (131)   

Related income tax effect

     0         0         52   

Amortization of prior service cost recognized in net income

     1         1         1   

Related income tax effect

     0         0         0   

Amortization of net actuarial loss recognized in net income

     4,198         2,428         2,317   

Related income tax effect

     (1,679)         (971)         (927)   
  

 

 

    

 

 

    

 

 

 

Net effect of change in defined benefit pension plan on other comprehensive income

     (4,114)         (11,927)         529   
  

 

 

    

 

 

    

 

 

 

Total change in other comprehensive income, net of tax

     1,010         (6,102)         7,727   
  

 

 

    

 

 

    

 

 

 

Total Comprehensive Income

     $     83,617         $     69,508         $     79,674