COMPREHENSIVE INCOME

6 Months Ended

Jun. 30, 2016

COMPREHENSIVE INCOME [Abstract]

COMPREHENSIVE INCOME

NOTE 7 – COMPREHENSIVE INCOME

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

	Three months ended June 30,
	2016			2015
	Before		Net	Before		Net
	tax	Tax	of tax	tax	Tax	of tax
	amount	effect	amount	amount	effect	amount
Net unrealized gains (losses) on available-for-	(In thousands)
sale securities:
Unrealized gains (losses) arising during
holding period	$      5,956	$     (2,279)	$       3,677	$     (8,653)	$      3,313	$     (5,340)
Reclassification adjustment for
net gains realized in net income (1)	(86)	33	(53)	(41)	16	(25)
Recognized employee benefit plan
net periodic benefit cost (2)	1,511	(578)	933	1,797	(687)	1,110
Other comprehensive income (loss)	$      7,381	$     (2,824)	$       4,557	$     (6,897)	$      2,642	$     (4,255)
Net income			34,692			39,713
Comprehensive  income			$     39,249			$    35,458

(1)  Reclassification adjustments for net gains (losses) 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 recognized prior service cost and recognized net loss.  For more information, see Note 9 - Pension Benefits.

	Six months ended June 30,
	2016			2015
	Before		Net	Before		Net
	tax	Tax	of tax	tax	Tax	of tax
	amount	effect	amount	amount	effect	amount
Net unrealized gains  on available-for-	(In thousands)
sale securities:
Unrealized gains  arising
during holding period	$     20,125	$      (7,699)	$     12,426	$          380	$         (168)	$          212
Reclassification adjustment for
net gains realized in net income (1)	(88)	34	(54)	(55)	21	(34)
Recognized employee benefit plan
net periodic benefit cost (2)	3,022	(1,156)	1,866	3,594	(1,374)	2,220
Other comprehensive income	$     23,059	$      (8,821)	$     14,238	$       3,919	$      (1,521)	$       2,398
Net income			57,241			71,979
Comprehensive  income			$     71,479			$     74,377

(1)  Reclassification adjustments for net gains (losses) 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 recognized prior service cost and recognized net loss.  For more information, see Note 9 - Pension Benefits.