Note 2 - Adoption of New Accounting Standards

3 Months Ended

Mar. 31, 2013

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

2. Adoption of New Accounting Standards

Effective January 1, 2013, the Company adopted Accounting Standards Update (“ASU”) 2013-02, Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.  This ASU requires additional disclosure about the changes in the components of accumulated other comprehensive income, including amounts reclassified and amounts due to current period other comprehensive income. The following table presents changes in accumulated other comprehensive income by component, net of tax, for the period indicated.

(In thousands) Three months ended March 31, 2013	Unrealized Gains and Losses on Available for Sale Investment Securities			Postretirement Benefit Obligation			Total
Beginning balance	$	9,411		$	(2,542	)	$	6,869
Other comprehensive loss before reclassifications		(931	)		-			(931	)
Amounts reclassified from accumulated other comprehensive income		-			44			44
Net current-period other comprehensive (loss) income		(931	)		44			(887	)
Ending balance	$	8,480		$	(2,498	)	$	5,982

The following table presents amounts reclassified out of accumulated other comprehensive income by component for the period indicated. Line items in the statement of income affected by the reclassification are also presented.

(In thousands) Three months ended March 31, 2013	Amount Reclassified from Accumulated Other Comprehensive Income			Affected Line Item in the Statement Where Net Income is Presented
Amortization related to postretirement benefits
Prior service costs	$	(64	)	Salaries and employee benefits
Actuarial losses		(3	)	Salaries and employee benefits
	$	(67	)	Total before tax
		23		Income tax benefit
	$	(44	)	Net of tax
Total reclassifications for the period	$	(44	)	Net of tax