Components of Net Periodic Pension Cost

9 Months Ended

Sep. 30, 2013

Components of Net Periodic Pension Cost [Abstract]

Components of Net Periodic Pension Cost

Note 10.  Components of Net Periodic Pension Cost

The Corporation maintained a non-contributory defined benefit pension plan for substantially all of its employees until September 30, 2007, at which time the Corporation froze the plan. The following table sets forth the net periodic pension cost of the Corporation’s pension plan for the periods indicated.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
					(in thousands)
Interest cost	$	133	$	139	$	397	$	417
Net amortization and deferral		(29)		(21)		(85)		(63)
Net periodic pension cost	$	104	$	118	$	312	$	354

Contributions

The Corporation has completed funding for the 2013 plan year, having contributed $3,500,000 to its Pension Trust. The trust is established to provide retirement and other benefits for eligible employees and their beneficiaries. No part of the trust assets may be applied to any purpose other than providing benefits under the plan and for defraying expenses of administering the plan and the trust.