Comprehensive Income

3 Months Ended

Mar. 31, 2012

Comprehensive Income [Abstract]

Comprehensive Income

Note 3. Comprehensive Income

The following table presents the components of other comprehensive income on a gross and net basis for the three months ended March 31, 2012 and 2011. Components of other comprehensive income include changes in net unrealized gains (losses) on securities available for sale (including the non-credit portion of other-than-temporary impairment charges relating to certain securities during the period); unrealized gains (losses) on derivatives used in cash flow hedging relationships; and the unfunded portion of various employee, officer and director pension plans.

	Three Months Ended March 31,
	2012									2011
	Before Tax			Tax Effect			After Tax			Before Tax			Tax Effect			After Tax
	(in thousands)
Unrealized gains and losses on available for sale securities
Net gains arising during the period	$	6,233		$	(2,007	)	$	4,226		$	2,983		$	(1,170	)	$	1,813
Less reclassification adjustment for losses (gains) included in net income		157			(62	)		95			(2,679	)		1,000			(1,679	)
Net change		6,390			(2,069	)		4,321			304			(170	)		134
Non-credit impairment losses on securities available for sale and held to maturity
Net change in non-credit impairment losses on securities	$	11,286		$	(4,216	)	$	7,070			175			(73	)		102
Less reclassification adjustment for credit impairment losses included in net income		(303	)		113			(190	)		669			(251	)		418
Net change		10,983			(4,103	)		6,880			844			(324	)		520
Unrealized gains and losses on derivatives (cash flow hedges)
Net gains arising during the period		1,549			(650	)		899			1,434			(602	)		832
Less reclassification adjustment for losses included in net income		1,392			(584	)		808			577			(242	)		335
Net change		2,941			(1,234	)		1,707			2,011			(844	)		1,167
Pension benefit adjustment		759			(318	)		441			503			(211	)		292
Total other comprehensive income	$	21,073		$	(7,724	)	$	13,349		$	3,662		$	(1,549	)	$	2,113

The following table presents the after-tax changes in the balances of each component of accumulated other comprehensive loss for the three months ended March 31, 2012.

	Components of Accumulated Other Comprehensive Loss												Total
	Unrealized Gains			Non-credit Impairment			Unrealized Gains			Pension			Accumulated Other
	and Losses on			Losses on			and Losses on			Benefit			Comprehensive
	AFS Securities			Securities			Derivatives			Adjustment			Loss
	(in thousands)
Balance - December 31, 2011	$	(3,231	)	$	(16,566	)	$	(13,085	)	$	(29,559	)	$	(62,441	)
Net change		4,321			6,880			1,707			441			13,349
Balance - March 31, 2012	$	1,090		$	(9,686	)	$	(11,378	)	$	(29,118	)	$	(49,092	)