Pension Plans and Postretirement Benefit Plan

9 Months Ended

Sep. 30, 2012

Pension Plans and Postretirement Benefit Plan

Pension Plans and Postretirement Benefit Plan

Note 9. Pension Plans and Postretirement Benefit Plan

Components of net periodic benefit cost for the Company's pension plans and the postretirement benefit plan are presented in the following table for the three and nine months ended September30, 2012 and 2011.

	PensionBenefits						PostretirementBenefits
(dollars in thousands)	2012			2011			2012			2011
Three Months Ended September30,
Service Cost	$	-		$	-		$	145		$	123
Interest Cost	1,263			1,305			319			359
Expected Return on Plan Assets	(1,354		)	(1,612		)	-			-
Amortization of:
Prior Service Credit	-			-			(80		)	(53		)
Net Actuarial Losses	331			830			-			-
Net Periodic Benefit Cost	$	240		$	523		$	384		$	429
Nine Months Ended September30,
Service Cost	$	-		$	-		$	435		$	369
Interest Cost	3,789			3,914			958			1,078
Expected Return on Plan Assets	(4,371		)	(4,837		)	-			-
Amortization of:
Prior Service Credit	-			-			(242		)	(160		)
Net Actuarial Losses (Gains)	998			2,492			-			(1		)
Net Periodic Benefit Cost	$	416		$	1,569		$	1,151		$	1,286

The net periodic benefit cost for the Company's pension plans and postretirement benefit plan are recorded as a component of salaries and benefits in the consolidated statements of income. For the three and nine months ended September30, 2012, the Company contributed $0.1 million and $5.4 million, respectively, to the pension plans and $0.2 million and $0.5 million, respectively, to the postretirement benefit plan. The Company expects to contribute $5.5 million to the pension plans and $1.3 million to the postretirement benefit plan for the year ending December31, 2012.