COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2011

COMPREHENSIVE INCOME [Abstract]

COMPREHENSIVE INCOME

NOTE 7 - COMPREHENSIVE INCOME

The following tables present the components of other comprehensive income and the related tax effects allocated to each component for the periods indicated:

	Three months ended June 30,
	2011									2010
	Before			Tax			Net			Before		Tax			Net
	tax			(expense)			of tax			tax		(expense)			of tax
	amount			benefit			amount			amount		benefit			amount
Net unrealized gains on available-for-	(In thousands)
sale securities:
Unrealized gains (losses) arising during
holding period	$	46,461		$	(17,781	)	$	28,680		$	7,889	$	(3,015	)	$	4,874
Less:  Reclassification adjustment for
net (gains) losses realized in net income		(10,045	)		3,842			(6,203	)		585		(224	)		361
Recognized employee benefit plan
net periodic benefit cost		633			(242	)		391			652		(250	)		402
Other comprehensive income (loss)	$	37,049		$	(14,181	)	$	22,868		$	9,126	$	(3,489	)	$	5,637
Net income (loss)								12,826								(12,560	)
Comprehensive income (loss)							$	35,694							$	(6,923	)

	Six months ended June 30,
	2011									2010
	Before			Tax			Net			Before			Tax			Net
	tax			(expense)			of tax			tax			(expense)			of tax
	amount			benefit			amount			amount			benefit			amount
Net unrealized gains on available-for-	(In thousands)
sale securities:
Unrealized gains (losses) arising
during holding period	$	42,417		$	(16,244	)	$	26,173		$	4,931		$	(1,884	)	$	3,047
Less:  Reclassification adjustment for
net (gains) losses realized in net income		(10,062	)		3,849			(6,213	)		(712	)		272			(440	)
Recognized employee benefit plan
net periodic benefit cost		1,266			(484	)		782			1,286			(492	)		794
Other comprehensive income	$	33,621		$	(12,879	)	$	20,742		$	5,505		$	(2,104	)	$	3,401
Net income								12,332									(4,164	)
Comprehensive income							$	33,074								$	(763	)

Included with unrealized gains (losses) arising during holding period is an increase in other comprehensive income related to the transfer of held-to-maturity securities to the available-for-sale category.