Comprehensive Income/(Loss)

9 Months Ended

Sep. 30, 2011

Comprehensive Income/(Loss)

Comprehensive Income/(Loss)

Note 9 – Comprehensive Income/(Loss)

Other comprehensive income/(loss) ("OCI") consists of the changes in unrealized gains/(losses) on investment securities available-for-sale, pension obligations and cash flow hedges. Total comprehensive income/(loss), which consists of net income/(loss) plus the changes in other comprehensive income/(loss), was $3.8 million and $2.4 million for the nine months ended September 30, 2011 and 2010, respectively, and $.6 million and $2.1 million for the three months ended September 30, 2011 and 2010, respectively.

The following table presents the activity in accumulated other comprehensive loss for the 12 months ended December 31, 2010 and the three months ended March 31, 2011, June 30, 2011 and September 30, 2011:

(in thousands)	Investment securities– with OTTI			Investment securities- all other			Cash Flow Hedge			Pension Plan			SERP			Total
Accumulated OCI, net:
Balance-December 31, 2009	$	(9,364	)	$	(11,404	)	$	(36	)	$	(5,051	)	$	(804	)	$	(26,659	)
Net gain/(loss) during period		(1,461	)		7,448			(460	)		848			463			6,838
Balance-December 31, 2010		(10,825	)		(3,956	)		(496	)		(4,203	)		(341	)		(19,821	)
Net gain during period		422			191			101			0			0			714
Balance- March 31, 2011		(10,403	)		(3,765	)		(395	)		(4,203	)		(341	)		(19,107	)
Net gain/(loss) during period		61			454			(151	)		0			0			364
Balance- June 30, 2011	$	(10,342	)	$	(3,311	)	$	(546	)	$	(4,203	)	$	(341	)	$	(18,743	)
Net gain/(loss) during period		(350	)		406			(135	)		0			0			(79	)
Balance- September 30, 2011	$	(10,692	)	$	(2,905	)	$	(681	)	$	(4,203	)	$	(341	)	$	(18,822	)

The following table presents the components of OCI for the nine and three months ended September 30, 2011 and 2010:

	Nine Months Ended September 30						Three Months Ended September 30
Components of OCI (in thousands)	2011			2010			2011			2010
Available for sale (AFS) securities with OTTI:
Securities with OTTI charges during the period	$	204		$	(10,401	)	$	(589	)	$	397
Less:  OTTI charges recognized in income		(19	)		(8,275	)		0			(210	)
Unrealized gains/ (losses) on investments with OTTI		223			(2,126	)		(589	)		607
Taxes		(90	)		858			239			(245	)
Net unrealized gains/(losses) on investments with OTTI		133			(1,268	)		(350	)		362
Available for sale securities – all other:
Unrealized holding gains during the period		1,966			4,447			93			3,108
Less:  reclassification adjustment for losses recognized in income		0			(1,992	)		0			0
Less:  securities with OTTI charges during the period		204			(10,401	)		(589	)		397
Unrealized gains on all other AFS securities		1,762			16,840			682			2,711
Taxes		(711	)		(6,797	)		(276	)		(1,095	)
Net unrealized gains on all other AFS securities		1,051			10,043			406			1,616
Net unrealized gains on AFS securities		1,184			8,775			56			1,978
Unrealized losses on cash flow hedges		(310	)		(1,157	)		(226	)		(367	)
Taxes		125			467			91			149
Net unrealized losses on cash flow hedges		(185	)		(690	)		(135	)		(218	)
Total	$	999		$	8,085		$	(79	)	$	1,760