COMPREHENSIVE INCOME

9 Months Ended

Sep. 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 September 30,
	2016			2015
	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	$   (11,169)	$      4,275	$     (6,894)	$      6,225	$     (2,382)	$      3,843
Reclassification adjustment for
net gains realized in net income (1)	(1)	-	(1)	(33)	13	(20)
Recognized employee benefit plan
net periodic benefit cost (2)	1,511	(578)	933	1,797	(687)	1,110
Other comprehensive (loss) income	$     (9,659)	$      3,697	$     (5,962)	$      7,989	$     (3,056)	$      4,933
Net income			37,817			34,343
Comprehensive  income			$     31,855			$    39,276

(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.

	Nine months ended September 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	$      8,956	$     (3,424)	$       5,532	$      6,605	$     (2,550)	$      4,055
Reclassification adjustment for
net gains realized in net income (1)	(89)	34	(55)	(88)	34	(54)
Recognized employee benefit plan
net periodic benefit cost (2)	4,533	(1,734)	2,799	5,391	(2,061)	3,330
Other comprehensive income	$    13,400	$     (5,124)	$       8,276	$    11,908	$     (4,577)	$      7,331
Net income			95,058			106,322
Comprehensive  income			$   103,334			$  113,653

(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.