Annual report pursuant to Section 13 and 15(d)

COMPREHENSIVE INCOME

v2.4.0.6
COMPREHENSIVE INCOME
 12 Months Ended
Dec. 31, 2012
Equity [Abstract]  
COMPREHENSIVE INCOME

Note 20

COMPREHENSIVE INCOME

 

FASB Topic ASC 220, “Comprehensive Income” (Formerly SFAS No. 130) requires that certain transactions and other economic events that bypass the income statement be displayed as other comprehensive income.  Total comprehensive income is reported in the consolidated statements of comprehensive income and changes in shareowners’ equity.  Information related to net comprehensive income (loss) is as follows:

 

 (Dollars in Thousands)   2012   2011   2010
Other Comprehensive Loss:                        
Securities Available for Sale:                        
Change in net unrealized gain, net of tax benefit of $295, and a net of tax expense $203 and $41   $ (491 )   $ 397     $ 79  
Retirement Plans:                        
Change in funded status of defined benefit pension plan and SERP plan, net of
tax benefit $3,479, $5,135, and $628		     (5,539 )     (8,175 )     (1,000 )
Net Other Comprehensive Loss   $ (6,030 )   $ (7,778 )   $ (921 )
                         
The components of accumulated other comprehensive loss, net of tax, as of year-end were as follows:                        
                         
Net unrealized loss on securities available for sale   $ 573     $ 1,064     $ 667  
Net unfunded liability for defined benefit pension plan and SERP plan     (30,132 )     (24,593 )     (16,418 )
Accumulated Other Comprehensive Loss   $ (29,559 )   $ (23,529 )   $ (15,751 )