NOTE 11 - OTHER COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2012

Comprehensive Income (Loss) Note [Text Block]

NOTE 11 – OTHER COMPREHENSIVE INCOME

At June 30, 2012 and 2011, the Company’s other comprehensive income components were as follows (in thousands):

	Three months ended June 30, 2012								Three months ended June 30, 2011
	Before Tax			Tax Effect			After Tax	Before Tax			Tax Effect			After Tax
Other comprehensive income:
Unrealized holding gains	$	2,114	$	(866	)	$	1,248	$	4,815	$	(1,975	)	$	2,840
Less: reclassification adjustment for
realized losses included in net income		968		(397	)		571		—		—			—
Other comprehensive income on investment securities		1,146		(469	)		677		4,815		(1,975	)		2,840
Adjustment on pension plan		70		(29	)		41		—		—			—
Total other comprehensive income	$	1,216	$	(498	)	$	718	$	4,815	$	(1,975	)	$	2,840

	Six months ended June 30, 2012							Six months ended June 30, 2011
	Before Tax		Tax Effect			After Tax		Before Tax			Tax Effect			After Tax
Other comprehensive income:
Unrealized holding gains	$	3,809	$	(1,562	)	$	2,247	$	5,398		$	(2,213	)	$	3,185
Less: reclassification adjustment for
realized losses included in net income		959		(393	)		566		(10	)		4			(6	)
Other comprehensive income on investment
securities		2,850		(1,169	)		1,681		5,408			(2,217	)		3,191
Adjustment on pension plan		70		(29	)		41		—			—			—
Total other comprehensive income	$	2,920	$	(1,198	)	$	1,722	$	5,408		$	(2,217	)	$	3,191