Retirement Plans

6 Months Ended

Jun. 30, 2012

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:

(in thousands)	Three months ended June 30,				Six months ended June 30,
Net pension cost included the following components:		2012		2011		2012		2011
Service cost-benefits earned during the period	$	170	$	165	$	340	$	329
Interest cost on projected benefit obligation		171		210		343		420
Amortization of net obligation at transition		1		—		1		1
Amortization of prior service cost		39		38		77		76
Recognized net actuarial loss		72		97		144		193
Net periodic pension cost	$	453	$	510	$	905	$	1,019
Company contributions to pension plans	$	155	$	226	$	260	$	403
Pension plan payouts to participants	$	155	$	226	$	260	$	403

For the year ending December 31, 2012, the Company currently expects to contribute and pay out as benefits $472,000 to participants under the plans.