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Other Comprehensive Income (loss)
 12 Months Ended
Dec. 31, 2012
Other Comprehensive Income (Loss) [Abstract]  
OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 20 – OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) components, other than net income (loss), and related taxes were as follows:

 

                         
    2012     2011     2010  

Unrealized holding gains (losses) on available for sale securities

   $ (2,184,000 )    $ 3,851,000     $ (345,000 ) 

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

     0       0       421,000  

Fair value of interest rate swap

     (1,113,000 )      0       0  

Reclassification adjustments for gains on interest rate swaps later recognized in income

     0       0       (99,000 ) 
   

 

 

    

 

 

    

 

 

  
      (3,297,000 )      3,851,000       (23,000 ) 
       

Tax effect of unrealized holding gains (losses) on available for sale securities

     1,229,000       (1,348,000 )      101,000  

Tax effect of unrealized holding gain on securities transferred from held to maturity to available for sale

     0       0       (147,000 ) 

Tax effect of fair value of interest rate swap

     390,000       0       0  

Tax effect of reclassification adjustments for gains on interest rate swaps later recognized in income

     0       0       35,000  
   

 

 

    

 

 

    

 

 

  
       

Other comprehensive income (loss)

   $ (1,678,000 )    $ 2,503,000     $ (34,000 ) 
   

 

 

    

 

 

    

 

 

  

At December 31, 2012, accumulated other comprehensive income, net of tax effects (as applicable), consists of a net unrealized gain on available for sale securities of $2.4 million and the fair value of the interest rate swap of negative $0.7 million. At December 31, 2011, accumulated other comprehensive income, net of tax effects (as applicable), consists of a net unrealized gain on available for sale securities of $3.3 million. At December 31, 2010, accumulated other comprehensive income, net of tax effects (as applicable), consists of a net unrealized gain on available for sale securities of $0.8 million.