Comprehensive Income

3 Months Ended

Mar. 31, 2012

NOTE 11. Comprehensive Income

The components of comprehensive income, both gross and net of tax, for First Quarter 2012 and 2011 are as follows:

First Quarter 2012
($ in thousands)		Gross	Tax	Net
Net income	$	23,191	5,098	18,093
Components of OCI:
Unrealized gains on securities:
Unrealized holding gains during the period		19,804	6,931	12,873
Portion of OTTI recognized in OCI		367	129	238
Amortization of net unrealized gains on HTM securities		(794)	(278)	(516)
Reclassification adjustment for gains included in net
income		(4,359)	(1,526)	(2,833)
Net unrealized gains		15,018	5,256	9,762
Defined benefit pension and post-retirement plans:
Reversal of amortization items:
Net actuarial loss		1,390	487	903
Prior service cost		38	13	25
Defined benefit pension and post-retirement plans		1,428	500	928
Comprehensive income	$	39,637	10,854	28,783

First Quarter 2011
($ in thousands)		Gross	Tax	Net
Net income	$	26,158	5,658	20,500
Components of OCI:
Unrealized losses on securities:
Unrealized holding losses during the period		(933)	(327)	(606)
Portion of OTTI recognized in OCI		180	63	117
Amortization of net unrealized gains on HTM securities		(1,175)	(411)	(764)
Reclassification adjustment for gains included in net
income		(5,749)	(2,012)	(3,737)
Net unrealized losses		(7,677)	(2,687)	(4,990)
Defined benefit pension and post-retirement plans:
Reversal of amortization items:
Net actuarial loss		1,105	387	718
Prior service cost		37	13	24
Defined benefit pension and post-retirement plans		1,142	400	742
Comprehensive income	$	19,623	3,371	16,252

The balances of, and changes in, each component of AOCI (net of taxes) as of March 31, 2012 are as follows:


March 31, 2012					Defined
		Net Unrealized Gain (Loss)			Benefit
		OTTI	HTM	All	Pension and Post-Retirement	Total Accumulated
($ in thousands)		Related	Related	Other	Plans	OCI
Balance, December 31, 2011	$	(3,500)	4,622	96,125	(54,953)	42,294
Changes in component during period		238	(585)	10,109	928	10,690
Balance, March 31, 2012	$	(3,262)	4,037	106,234	(54,025)	52,984

- Definition

The entire disclosure for comprehensive income. Includes, but is not limited to, the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details