Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2011

Other Comprehensive Income (Loss)

OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 6: OTHER COMPREHENSIVE INCOME (LOSS)

Comprehensive income (loss) includes all changes in stockholders' equity during the period, except those resulting from investments by owners and distributions to owners.  Comprehensive income (loss) for all periods consisted of net income (loss) and other comprehensive income relating to the change in unrealized losses on investment securities available for sale.  Comprehensive income (loss), net of tax, is disclosed in the following table. The effect of pension adjustments will be made during the last quarter of each fiscal year.

(Dollars in thousands)	Before-Tax Amount			Tax Expense			Net-of-Tax Amount
Three Months Ended June 30, 2011:
Net Income							$	1,288
Other Comprehensive Income:
Unrealized holding gains arising during the period	$	1,942		$	(660	)		1,282
Discount on AFS to HTM reclassification		(116	)		39			(77	)
Accretion of discount on AFS to HTM reclassification		1			—			1
Less reclassification for gains included in net income		(1	)		—			(1	)
Total comprehensive income							$	2,493
Three Months Ended June 30, 2010:
Net Income							$	947
Other Comprehensive Income:
Unrealized holding gains arising during the period	$	1,894		$	(644	)		1,250
Accretion of discount on AFS to HTM reclassification		576			(196	)		380
Less reclassification for gains included in net income		(305	)		104			(201	)
Total comprehensive income							$	2,376

(Dollars in thousands)	Before-Tax Amount			Tax Expense			Net-of-Tax Amount
Six Months Ended June 30, 2011:
Net Income							$	2,303
Other Comprehensive Income:
Unrealized holding gains arising during the period	$	2,367		$	(805	)		1,562
Discount on AFS to HTM reclassification		(116	)		39			(77	)
Accretion of discount on AFS to HTM reclassification		1			—			1
Less reclassification for gains included in net income		(2	)		1			(1	)
Total comprehensive income							$	3,788
Six Months Ended June 30, 2010:
Net Income							$	1,622
Other Comprehensive Income:
Unrealized holding gains arising during the period	$	2,845		$	(967	)		1,878
Accretion of discount on AFS to HTM reclassification		594			(202	)		392
Less reclassification for gains included in net income		(1,000	)		340			(660	)
Total comprehensive income							$	3,232

The components of accumulated other comprehensive loss included in stockholders' equity, are as follows:

(Dollars in thousands)	Before-Tax Amount			Tax Effect			Net-of-Tax Amount
June 30, 2011
Net unrealized gain on AFS securities	$	321		$	(109	)	$	212
Discount on AFS to HTM reclassification		(115	)		39			(76	)
Unrealized actuarial losses-pension		(1,314	)		447			(867	)
Total of all items above	$	(1,108	)	$	377		$	(731	)
December 31, 2010
Net unrealized loss on AFS securities	$	(2,044	)	$	695		$	(1,349	)
Unrealized actuarial losses-pension		(1,314	)		447			(867	)
Total of all items above	$	(3,358	)	$	1,142		$	(2,216	)