COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2012

Equity [Abstract]

COMPREHENSIVE INCOME

NOTE 16 - COMPREHENSIVE INCOME

Comprehensive income includes net income and any changes in equity from non-owner sources that are not recorded in the income statement (such as changes in net unrealized gains (losses) on securities). The purpose of reporting comprehensive income is to report a measure of all changes in equity of an enterprise that result from recognized transactions and other economic events of the period other than transactions with owners in their capacity as owners.

The components of comprehensive income are as follows:

Years ended December 31, (in thousands)	2012	2011	2010
Net income	$ 4,077	$ 4,112	$ 3,660
Other comprehensive income
Net unrealized gains on securities available-for-sale	2,632	5,973	1,908
Reclassification of net realized losses (gains) in net income	(297)	(11)	(16)
Unrealized gains on securities available-for-sale	2,353	5,962	1,892
Income tax expense	(800)	(2,027)	(643)
Unrealized gains on securities available-for-sale, net of tax	1,553	3,935	1,249
Pension plan (loss) income	2,407	(1,319)	91
Income tax (expense) benefit	(818)	448	(31)
Pension plan income (loss), net of tax	1,589	(871)	60
Other comprehensive income, net of tax	3,142	3,064	1,309
Comprehensive income	$ 7,219	$ 7,176	$ 4,969

The components of accumulated other comprehensive loss is as follows:

Years ended December 31, (in thousands)	2012	2011
Unrealized gains (losses) on securities available-for-sale, net of tax	$ 2,906	$ 1,353
Unrecognized pension plan expense, net of tax	(469)	(2,058)
Accumulated other comprehensive income (loss), net	$ 2,437	$ (705)