PENSION AND OTHER BENEFITS

3 Months Ended

Mar. 31, 2013

Compensation and Retirement Disclosure [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
Periods ended March 31, (in thousands)	2013			2012
Service cost	$	—		$	115
Interest cost on benefit obligation		66			93
Expected return on plan assets		(67	)		(115	)
Amortization of prior service cost		—			—
Amortization of net loss		—			36
Net periodic benefit cost	$	(1	)	$	129

Salisbury’s 401(k) Plan expense was $83,000 and $70,000, respectively, for the three month periods ended March 31, 2013 and 2012. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $11,000 for the three month periods ended March 31, 2013 and 2012.