Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2011

Other Comprehensive Income (Loss) [Abstract]

Other Comprehensive Income (Loss)

22. Other Comprehensive Income (Loss)

The following table presents other comprehensive income (loss) for the years ended December 31, 2011, 2010, and 2009:

	Before Tax Amount			Tax Effect			Net of Tax
	(in thousands)
Year ended December 31, 2009:
Unrealized gains from securities:
Change in unrealized gains and losses on available for sale securities	$	11,666		$	(6,157	)	$	5,509
Less: reclassification adjustment for gains included in net income (loss)		(17,595	)		6,971			(10,624	)
Change in unrealized gains and losses on available for sale securities		(5,929	)		814			(5,115	)
Change in deferred gains and losses from termination of cash flow hedging instruments		(6,404	)		2,539			(3,865	)
Other comprehensive loss	$	(12,333	)	$	3,353		$	(8,980	)
Year ended December 31, 2010:
Unrealized gains from securities:
Change in unrealized gains and losses on available for sale securities	$	7,558		$	(9,521	)	$	(1,963	)
Less: reclassification adjustment for gains included in net income (loss)		(41,376	)		16,393			(24,983	)
Change in unrealized gains and losses on available for sale securities, net of reclassification adjustment		(33,818	)		6,872			(26,946	)
Changes in deferred loss on investments transferred to held to maturity from available for sale		(456	)		181			(275	)
Change in net unrealized loss from cash flow hedging instruments		(2,888	)		819			(2,069	)
Changes in deferred gains and losses from termination of cash flow hedging instruments		(3,159	)		1,255			(1,904	)
Other comprehensive loss	$	(40,321	)	$	9,127		$	(31,194	)
Year ended December 31, 2011:
Unrealized gains from securities:
Change in unrealized gains and losses on available for sale securities	$	69,090		$	(13,003	)	$	56,087
Less: reclassification adjustment for gains included in net income (loss)		(4,944	)		2,026			(2,918	)
Change in unrealized gains and losses on available for sale securities, net of reclassification adjustment		64,146			(10,977	)		53,169
Changes in deferred loss on investments transferred to held to maturity from available for sale		169			(66	)		103
Unrealized loss from cash flow hedging instruments:
Change in unrealized loss from cash flow hedging instruments		1,189			(219	)		970
Less: reclassification adjustment for loss included in net income (loss)		896			(367	)		529
Change in net unrealized loss from cash flow hedging instruments, net of reclassification adjustment		2,085			(586	)		1,499
Changes in deferred gains and losses from termination of cash flow hedging instruments		(1,260	)		499			(761	)
Other comprehensive income	$	65,140		$	(11,130	)	$	54,010

The tax effects of changes in the beginning of the year deferred tax asset valuation allowance solely attributable to identifiable events recorded in OCI, primarily changes in unrealized gains on the available for sale investment portfolio, were allocated to OCI in accordance with U.S. generally accepted accounting principles.

In 2011, certain interest rate corridors were terminated with net termination fees of $896,000 reclassified out of OCI and recognized in noninterest income.