Pensions

3 Months Ended

Mar. 31, 2012

Pensions [Abstract]

Pensions

Note 8 – Pensions

The components of pension expense for the periods presented are as follows:

	Three Months Ended
	March 31
(Dollars in thousands)	2012			2011
Components of net periodic cost:
Service cost	$	115		$	103
Interest cost		179			182
Expected return on plan assets		(197	)		(188	)
Recognized net actuarial loss		171			89
Net periodic cost	$	268		$	186

The Bank expects its pension expense to increase to approximately $1.1 million in 2012 compared to $705 thousand in 2011. The Bank expects to contribute $1.2 million to its pension plan in 2012. This contribution will meet the minimum funding requirements.