SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (Tables)

3 Months Ended

Mar. 31, 2012

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

Schedule of weighted average assumptions used to determine benefit obligation and net benefit cost

The following assumptions were used in the calculation of the net benefit cost and obligation at March 31, 2012:

Discount rate	3.90	%
Average rate of increase in compensation	3.00	%

Summary of change in benefit obligation

	(in thousands)
Net benefit cost accrued at December 31, 2011	$	20,230
Service cost	230
Interest cost	190
Payments	(525		)
Net benefit cost accrued at March 31, 2012 (unaudited)	$	20,125

	(in thousands)
Net benefit cost accrued at December 31, 2010	$	17,510
Service cost	247
Interest cost	202
Net benefit cost accrued at March 31, 2011 (unaudited)	$	17,959