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Pension Plan
6 Months Ended
Jun. 30, 2012
Pension Plan [Abstract]  
PENSION PLAN

NOTE 6. PENSION PLAN

The following table presents the net periodic pension cost for WesBanco’s Defined Benefit Pension Plan (the “Plan”) and the related components:

 

                                 
    For the Three Months Ended
June 30,
    For the Six Months  Ended
June 30,
 

(unaudited, in thousands)

  2012     2011     2012     2011  

Service cost – benefits earned during year

  $ 680     $ 643     $ 1,361     $ 1,279  

Interest cost on projected benefit obligation

    966       907       1,931       1,803  

Expected return on plan assets

    (1,378     (1,412     (2,756     (2,808

Amortization of prior service cost

    12       15       23       29  

Amortization of net loss

    568       318       1,137       633  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net periodic pension cost

  $ 848     $ 471     $ 1,696     $ 936  
   

 

 

   

 

 

   

 

 

   

 

 

 

The Plan covers all employees of WesBanco and its subsidiaries who were hired on or before August 1, 2007 who satisfy minimum age and length of service requirements, and is not available to employees hired after such date.

A minimum required contribution of $5.3 million is due for 2012 which will be partially funded by the Plan’s $2.1 million available credit balance. No decision has been made as of June 30, 2012 relative to the level of contribution in excess of the required minimum that will be made to the Plan, if any.