Pension and Other Benefits

6 Months Ended

Jun. 30, 2011

Pension and Other Benefits [Abstract]

Pension and Other Benefits

NOTE 8 – PENSION AND OTHER BENEFITS

The components of net periodic cost for Salisbury's insured noncontributory defined benefit retirement plan were as follows:

	Three months						Six months
Periods ended June 30, (in thousands)	2011			2010			2011			2010
Service cost	$	95		$	74		$	191		$	174
Interest cost on benefit obligation		93			89			187			180
Expected return on plan assets		(106	)		(98	)		(212	)		(198	)
Amortization of prior service cost		-			-			-			-
Amortization of net loss		17			16			33			34
Net periodic benefit cost	$	99		$	81		$	199		$	190

Salisbury's 401(k) Plan contribution expense was $96,000 and $41,000, respectively, for the three month periods ended June 30, 2011 and 2010. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $12,000 and $12,000, respectively, for the three month periods ended June 30, 2011 and 2010.