PENSION AND POSTRETIREMENT WELFARE PLANS (Tables)

12 Months Ended

Dec. 31, 2012

Pension Plan

Pension and postretirement welfare plans

Schedule of reconciliation of the change in benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheet

The following tables provide a reconciliation of the change in benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheet at December 31, 2012 and December 31, 2011 (in thousands):

	December 31, 2012			December 31, 2011
Change in projected benefit obligation:
Projected benefit obligation at beginning of period	$	5,556		$	4,629
Service cost		122			104
Employee contributions		9			11
Interest cost		259			264
Actuarial loss		580			789
Benefits paid		(249	)		(241	)
Projected benefit obligation at end of period	$	6,277		$	5,556
Change in plan assets:
Fair value of plan assets at beginning of period	$	3,418		$	3,425
Actual (loss) return on plan assets		469			(48	)
Employee contributions		9			11
Employer contributions		439			271
Benefits and expenses paid		(249	)		(241	)
Fair value of plan assets at end of period	$	4,086		$	3,418

Schedule of reconciliation of accumulated other comprehensive income from the prior measurement date to the current measurement date

	December 31, 2012			December 31, 2011
Excess of projected benefit obligation over fair value of plan assets	$	2,191		$	2,138
Unrecognized loss		(2,088	)		(1,881	)
Accrued pension cost prior to pension adjustments	$	103		$	257
Accumulated Other Comprehensive Income at Current Measurement Date		2,088			1,881
Accrued pension cost at end of period	$	2,191		$	2,138

Schedule of benefits expected to be paid

Year of payment	Amount of Benefit Payment
2013	$	286,000
2014		290,000
2015		320,000
2016		323,000
2017		338,000
2018 - 2022		1,826,000

Schedule of components of net periodic expense

 Components of net periodic pension expense included in the consolidated statements of operations for years 2012 and 2011 are as follows (in thousands):

	For the year ended December 31, 2012			For the year ended December 31, 2011
Service cost	$	122		$	104
Interest cost on projected benefit obligation		259			264
Amortization of net loss		150			51
Expected return on assets		(245	)		(257	)
Net periodic pension expense	$	286		$	162

Schedule of weighted average assumptions used to determine the projected defined benefit obligation

	December 31, 2012			December 31, 2011
Discount rate		4.00	%		4.75	%
Rate of compensation increases		5.00	%		5.00	%

Schedule of weighted average assumptions used to determine net periodic pension expense

	For the year ended December 31, 2012			For the year ended December 31, 2011
Discount rate		4.75	%		5.75	%
Expected long-term rate of return on plan assets		7.00	%		7.50	%
Rate of compensation increases		5.00	%		5.00	%

Schedule of pension plan assets allocation

	December 31, 2012			December 31, 2011
Cash equivalents		4	%		4	%
Equity securities		65	%		64	%
Fixed income securities		31	%		32	%
Total		100	%		100	%

Schedule of ranges for asset allocation percentages based on the Plan's Investment Policy Guidelines

Equity Securities	55 - 75	%
Fixed Income Securities	25 - 45	%
Cash	0 - 20	%
Total	100	%

Postretirement Welfare Plan

Pension and postretirement welfare plans

Schedule of reconciliation of the change in benefit obligation, the change in plan assets and the net amount recognized in the Consolidated Balance Sheet

The following tables provide a reconciliation of the change in the accumulated postretirement benefit obligation and the net amount recognized in the Consolidated Balance Sheet at December 31, 2012 and December 31, 2011 (in thousands):

	December 31, 2012			December 31, 2011
Change in postretirement benefit obligation:
Accumulated postretirement benefit obligation at beginning of period	$	1,378		$	1,249
Service cost		22			22
Interest cost		67			70
Actuarial loss		227			104
Benefits paid, net of participant contributions		(73	)		(67	)
Accumulated postretirement benefit obligation at end of period	$	1,621		$	1,378
Accrued postretirement benefit cost at the beginning of period	$	1,378		$	2,195
Net periodic postretirement cost		28			11
Employer contributions		(73	)		(67	)
Accrued postretirement benefit cost, prior to pension adjustments	$	1,333		$	2,139
Required incremental (liability) asset		288			(761	)
Accrued postretirement benefit cost at end of period	$	1,621		$	1,378

Schedule of benefits expected to be paid

Year of payment	Amount of Benefit Payment
2013	$	57,000
2014		60,000
2015		67,000
2016		65,000
2017		72,000
2018 - 2022		404,000

Schedule of components of net periodic expense

Net periodic postretirement benefit costs included in the consolidated statements of operations for years 2012 and 2011 are as follows (in thousands):

	For the year ended December 31,
	2012			2011
Service cost	$	22		$	22
Interest cost		67			70
Amortization of prior service credit		(12	)		(12	)
Amortization of gain		(49	)		(69	)
Total benefit costs	$	28		$	11