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Comprehensive Income
 6 Months Ended
Jun. 30, 2012
Comprehensive Income [Abstract]  
Comprehensive Income

Note 6. Comprehensive Income

 

Total comprehensive income includes all changes in equity during a period arising from transactions and other events and circumstances from non-owner sources. The Corporation's other comprehensive income is comprised of unrealized holding gains and losses on investment securities available-for-sale, and actuarial losses of defined benefit plans, net of taxes.

 

        Disclosure of comprehensive income for the six months ended June 30, 2012, and 2011 is presented in the Consolidated Statements of Comprehensive Income. The table below provides a reconciliation of the components of other comprehensive income to the data provided in the Consolidated Statements of Comprehensive Income.

 

The components of other comprehensive income, net of tax, were as follows for the periods indicated:

 

 

 

Six Months Ended

June 30,

 

 

 

2012

 

 

2011

 

 

 

(in thousands)

 

Unrealized holding gains on available-for-sale securities

 

 $

9,372

 

 

 $

7,543

 

Tax effect

 

 

(3,463

)

 

 

(2,906

)

Net of tax amount

 

 

5,909

 

 

 

4,637

 

Reclassification adjustment of OTTI losses included in income

 

 

198

 

 

 

237

 

Tax effect

 

 

(67

)

 

 

(84

)

Net of tax amount

 

 

131

 

 

 

153

 

Reclassification adjustment for net gains arising during this period

 

 

(1,648

)

 

 

(1,804

)

Tax effect

 

 

556

 

 

 

642

 

Net of tax amount

 

 

(1,092

) 

 

 

(1,162

) 

Unrealized holding gains on securities transferred from available-for-sale to held-to-maturity

 

 

—

 

 

 

330

 

Tax effect

 

 

—

 

 

 

(125

)

Net of tax amount

 

 

—

 

 

 

205

 

Amortization of unrealized holding gains on securities transferred from available-for-sale to held-to-maturity

 

 

6

 

 

 

3

 

Tax effect

 

 

(2

)

 

 

(1

)

Net of tax amount

 

 

4

 

 

 

2

 

Change in minimum pension liability

 

 

—

 

 

 

(142

) 

Tax effect

 

 

—

 

 

 

57

 

Net of tax amount

 

 

—

 

 

 

(85

)

Other comprehensive income, net of tax

 

$

4,952

 

 

$

3,750

 

 

Accumulated other comprehensive loss at June 30, 2012 and December 31, 2011 consisted of the following:

 

                 

 

 

June 30,

2012

 

 

December 31,

2011

 

 

 

(in thousands)

 

Investment securities available-for-sale, net of tax

 

$

2,752

 

 

$

(2,196

)

Unamortized component of securities transferred from available-for-sale to held-to-maturity, net of tax

 

 

167

 

 

 

163

 

Defined benefit pension and post-retirement plans, net of tax

 

 

(3,413

)

 

 

(3,413

)

Total accumulated other comprehensive loss

 

$

(494

)

 

$

(5,446

)