Employee Benefit Plans (Tables)
|
12 Months Ended |
Dec. 31, 2011
|
Employee Benefit Plans [Abstract] |
|
Net Periodic Pension Cost |
|
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|
|
|
|
|
|
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|
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|
(Dollars in thousands) |
|
Year Ended December 31, |
|
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2011 |
|
|
2010 |
|
|
2009 |
|
Service cost |
|
|
$ 2,272 |
|
|
|
$ 2,127 |
|
|
|
$ 2,337 |
|
Interest cost |
|
|
4,555 |
|
|
|
4,291 |
|
|
|
4,129 |
|
Expected return on plan assets |
|
|
(8,343) |
|
|
|
(7,138) |
|
|
|
(5,328) |
|
Amortization of transition asset |
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|
0 |
|
|
|
(131) |
|
|
|
(175) |
|
Recognized net actuarial loss |
|
|
2,427 |
|
|
|
2,317 |
|
|
|
3,506 |
|
Amortization of prior service cost |
|
|
1 |
|
|
|
1 |
|
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|
1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net periodic pension cost |
|
|
$ 912 |
|
|
|
$ 1,467 |
|
|
|
$ 4,470 |
|
|
|
|
|
|
|
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Weighted-Average Assumptions: |
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|
Discount rate |
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|
5.75% |
|
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|
6.25% |
|
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|
6.25% |
|
Expected return on assets |
|
|
8.00% |
|
|
|
8.00% |
|
|
|
8.00% |
|
Rate of Compensation Increase (prior to age 45) |
|
|
3.75% |
|
|
|
3.75% |
|
|
|
4.75% |
|
Rate of Compensation Increase (otherwise) |
|
|
2.75% |
|
|
|
2.75% |
|
|
|
3.25% |
| |
Reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets and the accumulated benefit obligation |
|
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|
|
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|
(Dollars in thousands) |
|
December 31, |
|
Change in Projected Benefit Obligation |
|
2011 |
|
|
2010 |
|
Projected Benefit Obligation at the Beginning of the Year |
|
|
$ 79,556 |
|
|
|
$ 70,136 |
|
Service Cost |
|
|
2,272 |
|
|
|
2,127 |
|
Interest Cost |
|
|
4,555 |
|
|
|
4,291 |
|
Actuarial (Gain) Loss |
|
|
11,288 |
|
|
|
5,142 |
|
Benefits Paid |
|
|
(2,509) |
|
|
|
(2,140) |
|
|
|
|
|
|
|
|
|
|
Projected Benefit at the End of the Year |
|
|
$ 95,162 |
|
|
|
$ 79,556 |
|
Accumulated Benefit Obligation at the End of the Year |
|
|
$ 86,661 |
|
|
|
$ 72,577 |
|
|
|
|
Change in Plan Assets |
|
|
|
|
|
|
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|
Fair Value of Plan Assets at the Beginning of the Year |
|
|
$ 105,504 |
|
|
|
$ 87,507 |
|
Actual Return on Plan Assets |
|
|
(1,612) |
|
|
|
11,037 |
|
Benefits Paid |
|
|
(2,509) |
|
|
|
(2,140) |
|
Employer Contributions |
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|
0 |
|
|
|
9,100 |
|
|
|
|
|
|
|
|
|
|
Fair value of plan assets at end of year |
|
|
$ 101,383 |
|
|
|
$ 105,504 |
|
|
|
|
Net Amount Recognized |
|
|
|
|
|
|
|
|
Funded Status |
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|
$ 6,221 |
|
|
|
$ 25,949 |
|
Unrecognized Transition Asset |
|
|
0 |
|
|
|
0 |
|
Unrecognized Prior Service Cost |
|
|
4 |
|
|
|
5 |
|
Unrecognized Net Loss |
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|
50,590 |
|
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|
31,773 |
|
|
|
|
|
|
|
|
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|
Net Amount Recognized |
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|
$ 56,815 |
|
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|
$ 57,727 |
|
|
|
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|
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|
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|
Weighted-Average Assumptions at the End of the Year |
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|
|
|
|
|
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|
Discount Rate |
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|
5.15% |
|
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|
5.75% |
|
Rate of Compensation Increase (prior to age 45) |
|
|
3.75% |
|
|
|
3.75% |
|
Rate of Compensation Increase (otherwise) |
|
|
2.75% |
|
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|
2.75% |
| |
Asset allocation for the defined benefit pension plan as of the measurement date, by asset category |
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Plan Assets |
|
Target Allocation
2011 |
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|
Allowable
Allocation Range |
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|
Percentage of
Plan Assets at |
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|
|
|
|
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|
December 31, 2011 |
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|
December 31, 2010 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
Equity Securities |
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70% |
|
|
|
50-80% |
|
|
|
61% |
|
|
|
59% |
|
Debt Securities |
|
|
25% |
|
|
|
20-40% |
|
|
|
32% |
|
|
|
34% |
|
Other |
|
|
5% |
|
|
|
3-10% |
|
|
|
7% |
|
|
|
7% |
|
|
|
|
|
|
|
|
|
|
|
|
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Total |
|
|
|
|
|
|
|
|
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|
100% |
|
|
|
100% | |
Expected benefit payments |
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|
|
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|
Year |
|
Amount |
|
(In thousands) |
|
|
|
|
2012 |
|
|
$ 2,757 |
|
2013 |
|
|
3,068 |
|
2014 |
|
|
3,419 |
|
2015 |
|
|
3,762 |
|
2016 |
|
|
4,194 |
|
2017 through 2021 |
|
|
26,209 |
| |
Balances of the plan assets, by fair value hierarchy level |
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|
Fair Value Measurements at December 31, 2011 Using |
|
(In thousands)
Description |
|
Balance as of December 31, 2011 |
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
Significant Other Observable Inputs (Level 2) |
|
|
Significant Unobservable Inputs (Level 3) |
|
Cash and Cash equivalents |
|
|
$ 6,526 |
|
|
|
$ 6,526 |
|
|
|
$ 0 |
|
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|
$ 0 |
|
|
|
|
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|
Fixed Income Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities |
|
|
289 |
|
|
|
0 |
|
|
|
289 |
|
|
|
0 |
|
Collateralized mortgage obligations |
|
|
232 |
|
|
|
0 |
|
|
|
232 |
|
|
|
0 |
|
Municipal obligations |
|
|
879 |
|
|
|
0 |
|
|
|
879 |
|
|
|
0 |
|
Corporate bonds |
|
|
3,391 |
|
|
|
3,103 |
|
|
|
288 |
|
|
|
0 |
|
|
|
|
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|
Fixed Income Mutual Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed income-general |
|
|
12,065 |
|
|
|
12,065 |
|
|
|
0 |
|
|
|
0 |
|
Domestic |
|
|
10,442 |
|
|
|
10,442 |
|
|
|
0 |
|
|
|
0 |
|
Alternative |
|
|
4,787 |
|
|
|
4,787 |
|
|
|
0 |
|
|
|
0 |
|
|
|
|
|
|
Equity Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock |
|
|
198 |
|
|
|
198 |
|
|
|
0 |
|
|
|
0 |
|
Common stock |
|
|
23,686 |
|
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|
23,686 |
|
|
|
0 |
|
|
|
0 |
|
|
|
|
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|
Equity Mutual Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Global equity |
|
|
3,816 |
|
|
|
3,816 |
|
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|
0 |
|
|
|
0 |
|
Domestic equity large cap |
|
|
4,592 |
|
|
|
4,592 |
|
|
|
0 |
|
|
|
0 |
|
Domestic equity small cap |
|
|
12,117 |
|
|
|
12,117 |
|
|
|
0 |
|
|
|
0 |
|
International emerging equity |
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|
6,312 |
|
|
|
6,312 |
|
|
|
0 |
|
|
|
0 |
|
International equity developed |
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|
6,685 |
|
|
|
6,685 |
|
|
|
0 |
|
|
|
0 |
|
Alternative equity |
|
|
4,604 |
|
|
|
4,604 |
|
|
|
0 |
|
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|
0 |
|
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|
Other Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Partnerships |
|
|
762 |
|
|
|
0 |
|
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|
762 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Total |
|
|
$ 101,383 |
|
|
|
$ 98,933 |
|
|
|
$ 2,450 |
|
|
|
$ 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements at December 31, 2010 Using |
|
(In thousands)
Description |
|
Balance as of December 31, 2010 |
|
|
Quoted Prices in Active Markets for Identical Assets (Level 1) |
|
|
Significant Other Observable Inputs (Level 2) |
|
|
Significant Unobservable Inputs (Level 3) |
|
Cash and Cash equivalents |
|
|
$ 6,497 |
|
|
|
$ 6,497 |
|
|
|
$ 0 |
|
|
|
$ 0 |
|
|
|
|
|
|
Fixed Income Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgage backed securities |
|
|
458 |
|
|
|
0 |
|
|
|
458 |
|
|
|
0 |
|
Collateralized mortgage obligations |
|
|
413 |
|
|
|
0 |
|
|
|
413 |
|
|
|
0 |
|
Municipal obligations |
|
|
815 |
|
|
|
0 |
|
|
|
815 |
|
|
|
0 |
|
Corporate bonds |
|
|
4,257 |
|
|
|
3,913 |
|
|
|
344 |
|
|
|
0 |
|
|
|
|
|
|
Fixed Income Mutual Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed income - general |
|
|
7,412 |
|
|
|
7,412 |
|
|
|
0 |
|
|
|
0 |
|
Domestic |
|
|
16,174 |
|
|
|
16,174 |
|
|
|
0 |
|
|
|
0 |
|
Alternative |
|
|
6,598 |
|
|
|
6,598 |
|
|
|
0 |
|
|
|
0 |
|
|
|
|
|
|
Equity Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock |
|
|
185 |
|
|
|
185 |
|
|
|
0 |
|
|
|
0 |
|
Common stock |
|
|
22,763 |
|
|
|
22,763 |
|
|
|
0 |
|
|
|
0 |
|
|
|
|
|
|
Equity Mutual Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global equity |
|
|
3,879 |
|
|
|
3,879 |
|
|
|
0 |
|
|
|
0 |
|
Domestic equity large cap |
|
|
4,641 |
|
|
|
4,641 |
|
|
|
0 |
|
|
|
0 |
|
Domestic equity small cap |
|
|
11,018 |
|
|
|
11,018 |
|
|
|
0 |
|
|
|
0 |
|
International emerging equity |
|
|
7,578 |
|
|
|
7,578 |
|
|
|
0 |
|
|
|
0 |
|
International equity developed |
|
|
7,700 |
|
|
|
7,700 |
|
|
|
0 |
|
|
|
0 |
|
Alternative equity |
|
|
4,223 |
|
|
|
4,223 |
|
|
|
0 |
|
|
|
0 |
|
|
|
|
|
|
Other Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Partnerships |
|
|
893 |
|
|
|
0 |
|
|
|
893 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ 105,504 |
|
|
|
$ 102,581 |
|
|
|
$ 2,923 |
|
|
|
$ 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| |