Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value of Pension Plan Assets by Asset Category

The fair values of the Company’s pension plan assets at December 31, 2012, and 2011, by asset category are as follows (in thousands):

	As of December 31, 2012
	Total Fair Value		Quoted prices in active markets Level 1		Significant observable inputs Level 2		Significant unobservable inputs Level 3
Asset Category
Collective investment funds
Fixed income (a)	$	12,582	$	—	$	12,582	$	—
U.S. equity growth		8,014		—		8,014		—
U.S. equity value		8,005		—		8,005		—
Foreign equity		3,145		—		3,145		—
Money market fund		1,030		1,030		—		—
Pension assets at December 31, 2012	$	32,776	$	1,030	$	31,746	$	—

(a) As of December 31, 2012, the fixed income fund consisted of a 32% investment in asset and mortgage-backed securities, a 41% investment in U.S. treasury securities, and a 27% investment in corporate bonds.

	As of December 31, 2011
	Total Fair Value		Quoted prices in active markets Level 1		Significant observable inputs Level 2		Significant unobservable inputs Level 3
Asset Category
Collective investment funds
Fixed income (b)	$	11,062	$	—	$	11,062	$	—
U.S. equity growth		6,945		—		6,945		—
U.S. equity value		6,952		—		6,952		—
Foreign equity		2,810		—		2,810		—
Money market fund		702		702		—		—
Pension assets at December 31, 2011	$	28,471	$	702	$	27,769	$	—

(b) As of December 31, 2011, the fixed income fund consisted of a 34% investment in asset and mortgage-backed securities, a 41% investment in U.S. treasury securities, and a 25% investment in corporate bonds.

Pension Benefits

Components of Net Periodic Cost and Other Comprehensive Loss (Income)

The components of net periodic cost and other comprehensive loss (income) for the years ended December 31, 2012, 2011, and 2010, are as follows (in thousands):

Net periodic cost	2012			2011			2010
Service cost of benefits	$	863		$	774		$	731
Interest cost		1,906			1,819			1,883
Expected return on plan assets		(2,036	)		(2,051	)		(2,118	)
Amortization of net actuarial loss		1,885			1,370			1,052
Total	$	2,618		$	1,912		$	1,548
Other changes in plan assets and projected benefit obligation recognized in other comprehensive loss (income)
Net actuarial loss arising this year		3,035			7,449			281
Net actuarial loss amortized this year		(1,885	)		(1,370	)		(1,052	)
Recognized in other comprehensive loss (income)		1,150			6,079			(771	)
Recognized in net periodic pension cost and other comprehensive loss (income)	$	3,768		$	7,991		$	777

Schedule of Expected Benefit Payments

The Company’s estimate for contributions to be paid in 2013 is $2.0 million. The expected benefit payments are as follows (in thousands):

2013	$	2,589
2014	$	2,464
2015	$	2,296
2016	$	3,088
2017	$	2,551
2018 - 2021	$	15,552

Schedule of Funded Status Plan and Change in Funded Status Plan

The funded status of the plan as of the measurement dates of December 31, 2012, and 2011, and the change in funded status for the measurement periods ended December 31, 2012, and 2011, are shown in the accompanying table for the Company’s pension plan, along with the assumptions used in the calculations (dollars in thousands):

	Pension Plan
	2012			2011
Change in projected benefit obligation
At beginning of year	$	44,246		$	36,690
Service cost		863			774
Interest cost		1,906			1,819
Plan participants’ contributions		245			238
Actuarial loss		4,275			6,122
Benefits paid		(1,647	)		(1,397	)
At end of year	$	49,888		$	44,246
Change in fair value of plan assets
At beginning of year	$	28,471		$	26,858
Actual return on plan assets		3,276			724
Employer contribution		2,431			2,048
Plan participants’ contributions		245			238
Benefits paid		(1,647	)		(1,397	)
At end of year	$	32,776		$	28,471
Funded status — net pension liability at year end	$	(17,112	)	$	(15,775	)
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	20,894		$	19,744
Estimated amounts of accumulated other comprehensive loss to be recognized as net periodic cost during the subsequent year
Net actuarial loss	$	2,256		$	1,885
Weighted-average assumptions
Discount rate — components of cost		4.41	%		5.09	%
Discount rate — benefit obligations		3.87	%		4.41	%
Expected return on plan assets		7.00	%		8.00	%
Rate of compensation increase		N/A			N/A

Benefit Equalization Plan

Components of Net Periodic Cost and Other Comprehensive Loss (Income)

The BEP is a nonqualified, unfunded supplemental retirement plan. The components of the BEP net periodic cost and other comprehensive (income) loss for the years ended December 31, 2012, 2011, and 2010 are as follows (in thousands):

Net periodic cost	2012			2011			2010
Service cost of benefits	$	29		$	20		$	16
Interest cost		160			159			192
Amortization of net actuarial loss		192			153			148
Amortization of prior service credit		—			—			—
Total	$	381		$	332		$	356
Other changes in plan assets and projected benefit obligation recognized in other comprehensive loss (income)
Net actuarial loss arising this year	$	385		$	464		$	493
Net actuarial loss amortized this year		(192	)		(153	)		(148	)
Actuarial loss due to settlement		—			—			(1,222	)
	$	193		$	311		$	(877	)
Recognized in net periodic cost and other comprehensive loss (income)	$	574		$	643		$	(521	)

Schedule of Expected Benefit Payments

The Company’s estimate for contributions to be paid for the BEP in 2013 is $0.2 million. The expected benefit payments for the BEP are as follows (in thousands):

2013	$	164
2014	$	165
2015	$	196
2016	$	197
2017	$	222
2018 – 2021	$	1,147

Schedule of Funded Status Plan and Change in Funded Status Plan

The funded status and the change in funded status for the measurement periods ended December 31, 2012, and 2011 are shown in the accompanying table for the Company’s BEP, along with the assumptions used in the calculations (dollars in thousands):

				BEP
	2012				2011
Change in projected benefit obligation
At beginning of year	$	3,700			$	3,204
Service cost		29				20
Interest cost		160				159
Plan participants’ contributions		20				11
Actuarial loss		385				464
Benefits paid		(158	)			(158	)
At end of year	$	4,136			$	3,700
Change in fair value of plan assets
At beginning of year		—				—
Actual return on plan assets		—				—
Employer contribution		138				147
Plan participants’ contributions		20				11
Benefits paid		(158	)			(158	)
At end of year	$	—			$	—
Funded status — net liability at year end	$	4,136			$	3,700
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	2,056			$	1,863
Estimated amounts of accumulated other comprehensive loss to be recognized as net periodic cost during the subsequent year
Net actuarial loss	$	227			$	192
Weighted-average assumptions
Discount rate
Components of cost		4.41	%			5.09	%
Benefit obligations		3.87	%			4.41	%
Expected return on plan assets		N/A				N/A
Rate of compensation increase		N/A				N/A

Postretirement Plan

Components of Net Periodic Cost and Other Comprehensive Loss (Income)

The components of net periodic postretirement plan cost and other comprehensive loss (income) for the years ended December 31, 2012, 2011, and 2010, are as follows (in thousands):

	2012			2011			2010
Net periodic cost
Service cost of benefits	$	37		$	38		$	38
Interest cost		72			81			89
Amortization of net actuarial loss		21			28			36
Total	$	130		$	147		$	163
Other changes in plan assets and projected benefit obligation recognized in other comprehensive loss (income)
Net actuarial gain arising this year	$	(98	)	$	(35	)	$	(79	)
Net actuarial loss amortized this year		(21	)		(28	)		(36	)
Recognized in other comprehensive loss (income)	$	(119	)	$	(63	)	$	(115	)
Recognized in net periodic cost and other comprehensive loss	$	11		$	84		$	48

Schedule of Expected Benefit Payments

The Company expects to pay $0.1 million in contributions in 2013. The expected benefit payments are as follows (in thousands):

2013	$	107
2014	$	128
2015	$	140
2016	$	127
2017	$	127
2018-2021	$	780

Schedule of Funded Status Plan and Change in Funded Status Plan

The accompanying table presents the balances of and changes in the postretirement benefit obligation as of the measurement dates of December 31, 2012, and 2011 (dollars in thousands):

	Postretirement Plan
	2012			2011
Change in projected benefit obligation
At beginning of year	$	1,907		$	1,837
Service cost		37			38
Interest cost		72			81
Plan participants’ contributions		52			55
Actuarial gain		(98	)		(35	)
Benefits paid		(128	)		(69	)
At end of year	$	1,842		$	1,907
Change in fair value of plan assets
At beginning of year	$	—		$	—
Employer contribution		76			14
Plan participants’ contributions		52			55
Benefits paid		(128	)		(69	)
At end of year	$	—		$	—
Funded status — net liability at year end	$	1,842		$	1,907
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss	$	230		$	348
Estimated amounts of accumulated other comprehensive loss to be recognized as net periodic cost during the subsequent year
Net actuarial loss	$	7		$	21
Weighted-average assumptions
Discount rate
Components of cost		4.56	%		4.56	%
Benefit obligations		3.26	%		3.91	%
Expected return on plan assets		N/A			N/A
Rate of compensation increase		N/A			N/A