Retirement Plans

9 Months Ended

Sep. 30, 2011

Retirement Plans [Abstract]

Retirement Plans

Note 25 – Retirement Plans

The Company has supplemental retirement plans for current and former directors and key executives. These plans are non-qualified defined benefit plans and are unsecured and unfunded. The Company has purchased insurance on the lives of the participants and intends (but is not required) to use the cash values of these policies to pay the retirement obligations. The following table sets forth the net periodic benefit cost recognized for the plans:

	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2011		2010		2011		2010
Net pension cost included the following components:
Service cost-benefits earned during the period	$	164	$	131	$	493	$	393
Interest cost on projected benefit obligation		210		191		630		573
Amortization of net obligation at transition		—		1		1		1
Amortization of prior service cost		38		38		115		115
Recognized net actuarial loss		97		54		289		163
Net periodic pension cost	$	509	$	415	$	1,528	$	1,245
Company contributions to pension plans	$	177	$	177	$	580	$	556
Pension plan payouts to participants	$	177	$	177	$	580	$	556

For the year ending December 31, 2011, the Company currently expects to contribute and pay out as benefits $758,000 to participants under the plans.