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COMPREHENSIVE (LOSS) INCOME
 12 Months Ended
Dec. 31, 2012
COMPREHENSIVE (LOSS) INCOME [Abstract]  
COMPREHENSIVE (LOSS) INCOME
NOTE 19 – COMPREHENSIVE (LOSS) INCOME
 
ASC Topic 220 requires the reporting of all changes in equity during the reporting period except investments from and distributions to shareholders.  Net income (loss) is a component of comprehensive income (loss) with all other components referred to in the aggregate as other comprehensive income.
 
The components of other comprehensive (loss) income and the related tax effects for December 31, 2012, 2011, and 2010 are as follows:
 
 
For the year ended December 31, 2012
 
(In thousands)
 
Before tax amount
 
 
Tax expense (benefit)
 
 
Net of tax amount
 
Unrealized losses on investment securities:
 
 
 
 
 
 
 
 
 
Unrealized holding losses arising during period
 
$
(1,573
)
 
$
(535
)
 
$
(1,038
)
Less adjustment for impaired investments
 
 
(2,359
)
 
 
(802
)
 
 
(1,557
)
Less reclassification adjustment for gains realized in net loss
 
 
1,030
 
 
 
350
 
 
 
680
 
Unrealized losses on investment securities
 
 
(244
)
 
 
(83
)
 
 
(161
)
Unrecognized benefit obligation expense:
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial loss
 
 
(1,655
)
 
 
(563
)
 
 
(1,092
)
Less reclassification adjustment for amortization
 
 
(471
)
 
 
(160
)
 
 
(311
)
 
 
(1,184
)
 
 
(403
)
 
 
(781
)
Other comprehensive loss, net
 
$
(1,428
)
 
$
(486
)
 
$
(942
)
 
 
For the year ended December 31, 2011
 
(In thousands)
 
Before tax amount
 
 
Tax expense (benefit)
 
 
Net of tax amount
 
Unrealized gains on investment securities:
 
 
 
 
 
 
 
 
 
Unrealized holding gains arising during period
 
$
531
 
 
$
227
 
 
$
304
 
Adjustment in deferred tax valuation allowance related to preferred and common stock
 
 
-
 
 
 
288
 
 
 
(288
)
Less adjustment for impaired investments
 
 
(1,796
)
 
 
(629
)
 
 
(1,167
)
Less reclassification adjustment for gains
 
 
 
 
 
 
 
 
 
 
 
 
realized in net loss
 
 
1,782
 
 
 
624
 
 
 
1,158
 
Unrealized gains on investment securities
 
 
545
 
 
 
520
 
 
 
25
 
Unrecognized benefit obligation expense:
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial loss
 
 
(2,026
)
 
 
(709
)
 
 
(1,317
)
Less reclassification adjustment for amortization
 
 
(231
)
 
 
(81
)
 
 
(150
)
 
 
(1,795
)
 
 
(628
)
 
 
(1,167
)
Other comprehensive loss, net
 
$
(1,250
)
 
$
(108
)
 
$
(1,142
)
 
 
For the year ended December 31, 2010
 
(In thousands)
 
Before tax amount
 
 
Tax expense (benefit)
 
 
Net of tax amount
 
Unrealized gains on investment securities:
 
 
 
 
 
 
 
 
 
Unrealized holding gains arising during period
 
$
6,102
 
 
$
1,764
 
 
$
4,338
 
Reduction in deferred tax valuation allowance
 
 
 
 
 
 
 
 
 
 
 
 
  related to preferred and common stock
 
 
-
 
 
 
(97
)
 
 
97
 
Non-credit loss portion of other-than-temporary
 
 
 
 
 
 
 
 
 
 
 
 
impairments
 
 
(87
)
 
 
(30
)
 
 
(57
)
Less adjustment for impaired investments
 
 
(479
)
 
 
(168
)
 
 
(311
)
Less reclassification adjustment for gains
 
 
 
 
 
 
 
 
 
 
 
 
realized in net loss
 
 
1,290
 
 
 
452
 
 
 
838
 
Unrealized gains on investment securities
 
 
5,204
 
 
 
1,547
 
 
 
3,851
 
Unrecognized benefit obligation expense:
 
 
 
 
 
 
 
 
 
 
 
 
Actuarial loss
 
 
(538
)
 
 
(188
)
 
 
(350
)
Less reclassification adjustment for amortization
 
 
(143
)
 
 
(50
)
 
 
(93
)
 
 
(395
)
 
 
(138
)
 
 
(257
)
Other comprehensive income, net
 
$
4,809
 
 
$
1,409
 
 
$
3,594
 
 
The other components of accumulated other comprehensive loss included in shareholders' equity at December 31, 2012, 2011, and 2010 are as follows:
 
 
As of December 31,
 
(In thousands)
 
2012
 
 
2011
 
 
2010
 
Unrecognized benefit obligation
 
$
(3,556
)
 
$
(2,734
)
 
$
(1,567
)
Unrealized gains on AFS investments
 
 
3,414
 
 
 
3,534
 
 
 
3,509
 
Accumulated other comprehensive (loss) income
 
$
(142
)
 
$
800
 
 
$
1,942
 
 
Refer to "Note 16 – Pension Plans" to the Consolidated Financial Statements for more information.