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Comprehensive Income
9 Months Ended
Sep. 30, 2011
Comprehensive Income 
Comprehensive Income

Note 13 - Comprehensive Income

 

Comprehensive income for the three and nine months ended September 30, 2011 and 2010 is as follows (dollars in thousands):

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Net income

 

$

2,765

 

$

2,846

 

$

10,639

 

$

7,665

 

Other comprehensive income (loss)-

 

 

 

 

 

 

 

 

 

Net unrealized (loss) gain on available-for-sale securities

 

(21

)

25

 

(108

)

(107

)

Net unrealized (loss) on derivative instruments

 

(701

)

(193

)

(901

)

(599

)

Comprehensive income

 

$

2,043

 

$

2,678

 

$

9,630

 

$

6,959

 

 

Accumulated other comprehensive loss reported on the balance sheet includes an accumulated net unrealized loss on available-for-sale securities of $56,000, an unrealized loss on available-for-sale securities in a joint venture of $33,000, a net unrealized loss on derivative instruments of $899,000, and our 50% share of a net unrealized loss on a joint venture derivative instrument of $177,000, resulting in a total cumulative net loss of $1,165,000 at September 30, 2011.  At December 31, 2010, accumulated other comprehensive loss of $156,000 was comprised of a net accumulated unrealized gain on available-for-sale securities of $47,000, an unrealized loss on available-for-sale securities in a joint venture of $27,000 and a net unrealized loss on derivative instruments of $176,000.