Annual report pursuant to Section 13 and 15(d)

Other Comprehensive Income/(Loss)

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Other Comprehensive Income/(Loss)
 12 Months Ended
Dec. 31, 2011
Equity [Abstract]  
Comprehensive Income (Loss) Note [Text Block]

NOTE 17 – Other Comprehensive Income/(Loss)

 

Other comprehensive income/(loss) components and related taxes were as follows:

 

    (Dollars in thousands)  
    2011     2010  
Net change in net unrealized gains and losses on securities available for sale:                
Unrealized gains arising during the year   $ 5,607     $ 314  
Reclassification adjustment for gains included in net income     965       785  
Net securities gain/(loss) during the year     4,642       (471 )
Tax effect     (1,605 )     157  
Net of tax amount     3,037       (314 )
                 
Net change in unrecongnized gain on postretirement benefit:                
Net loss on post retirement benefit     (2 )     (1 )
Amortization of net actuarial gain     (7 )     (7 )
Net loss during the year     (9 )     (8 )
Tax effect     -       -  
Net of tax amount     (9 )     (8 )
Other comprehensive income/(loss), net of tax   $ 3,028     $ (322 )

 

Accumulated other comprehensive income/(loss) balances, net of tax, were as follows:

 

    (Dollars in thousands)  
    Balance     Current     Balance  
    at     Period     at  
    December 31, 2010     Change     December 31, 2011  
Unrealized gains (losses) on securities available-for-sale   $ (561 )   $ 3,037     $ 2,476  
Unrealized gain (loss) on post-retirement benefits     69       (9 )     60  
Total   $ (492 )   $ 3,028     $ 2,536