COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2013

COMPREHENSIVE INCOME [Abstract]

COMPREHENSIVE INCOME

NOTE 7 – COMPREHENSIVE INCOME (LOSS)

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

	Three months ended June 30,
	2013			2012
	Before		Net	Before		Net
	tax	Tax	of tax	tax	Tax	of tax
	amount	effect	amount	amount	effect	amount
Net unrealized (losses) gains on available-for-	(In thousands)
sale securities:
Unrealized (losses) gains arising during
holding period	$   (43,810)	$    16,773	$   (27,037)	$      8,404	$     (3,219)	$      5,185
Reclassification adjustment for
net gains realized in net income (1)	(3)	1	(2)	(177)	68	(109)
Recognized employee benefit plan
net periodic benefit cost (2)	1,337	(511)	826	1,192	(798)	394
Other comprehensive (loss) income	$   (42,476)	$    16,263	$   (26,213)	$      9,419	$     (3,949)	$      5,470
Net income			20,755			20,624
Comprehensive (loss) income			$     (5,458)			$    26,094

	Six months ended June 30,
	2013			2012
	Before		Net	Before		Net
	tax	Tax	of tax	tax	Tax	of tax
	amount	effect	amount	amount	effect	amount
Net unrealized (losses) gains on available-for-	(In thousands)
sale securities:
Unrealized (losses) gains arising
during holding period	$   (52,381)	$    20,056	$   (32,325)	$      3,698	$     (1,420)	$      2,278
Reclassification adjustment for
net gains realized in net income (1)	(22)	8	(14)	(251)	96	(155)
Recognized employee benefit plan
net periodic benefit cost (2)	2,674	(1,022)	1,652	2,384	(912)	1,472
Other comprehensive (loss) income	$   (49,729)	$    19,042	$   (30,687)	$      5,831	$     (2,236)	$      3,595
Net income			41,560			43,490
Comprehensive  income			$     10,873			$    47,085

(1)  Reclassification adjustments for net gains on available-for-sale securities are reported as net security gains on the consolidated statements of income.

(2)  Recognized employee benefit plan net periodic benefit cost include amortization of unrecognized transition amount,recognized prior service cost and recognized net loss.  For more information, see Note 9 - Pension Benefits.