Note 9:

Employee Benefit Plans

The Company has a non-contributory, defined benefit pension plan for full-time employees who were over 21 years of age and vested in the plan as of December 31, 2012, when the plan was frozen. Each participant’s account balance grows based on monthly interest credits. The Company funds pension costs in accordance with the funding provisions of the Employee Retirement Income Security Act.

The Company sponsors a postretirement benefit plan covering current and future retirees who acquire age 55 and 10 years of service or age 65 and 5 years of service. The post-retirement benefit plan provides coverage toward a retiree’s eligible medical and life insurance benefits expenses. The plan is unfunded and funded as benefits are due.

Components of Net Periodic (Benefit) Cost


(Dollars in thousands)	Pension Benefits						Post-Retirement Benefits
Six months ended June 30,	2014			2013			2014		2013
Service cost	$	—		$	—		$	8	$	11
Interest cost		71			71			15		15
Expected return on plan assets		(101	)		(107	)		—		—
Amortization of unrecognized net loss		19			45			—		2
Amortization of transition obligation		—			—			—		2

Net periodic (benefit) cost	$	(11	)	$	9		$	23	$	30

The Company expects to make no contribution to its pension plan and $5 thousand to its post-retirement benefit plan in the last half of 2014. The Company has contributed $6 thousand toward the post-retirement plan during the first six months of 2014.