Retirement Pension Plan (Tables)

12 Months Ended

Dec. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Schedule of Pension Plan Disclosures

	Year ended December 31,
	2013			2012			2011
	(Dollars in thousands)
Change in projected benefit obligation
Projected benefit obligation at the beginning of the year	$	(5,944	)	$	(5,641	)	$	(5,610	)
Interest Cost	(232		)	(254		)	(322		)
Actuarial gain (loss)	279			(359		)	(312		)
Benefits paid	846			310			603
Projected benefit obligation at the end of the year	$	(5,051	)	$	(5,944	)	$	(5,641	)
Change in plan assets
Fair value of plan assets at beginning of year	$	5,678		$	5,251		$	5,756
Actual gain on plan assets	904			237			98
Employer contributions	—			500			—
Benefits paid	(846		)	(310		)	(603		)
Fair value of plan assets at end of year	$	5,736		$	5,678		$	5,251
Funded status (included in accrued liabilities or prepaid assets)	$	685		$	(265	)	$	(390	)
Unrecognized actuarial loss in accumulated other comprehensive income	$	1,964		$	3,114		$	2,754

Schedule of Net Periodic Pension Costs

Amounts recognized in the consolidated statements of income consist of:

	Year ended December 31,
	2013			2012			2011
	(Dollars in thousands)
Net Periodic Pension Cost
Interest cost on projected benefit obligation	$	232		$	254		$	322
Expected return on plan benefits	(414		)	(383		)	(442		)
Amortization of loss	227			145			131
Net Periodic Pension Cost	$	45		$	16		$	11
Settlements	153			—			—
Total Benefit Cost	$	198		$	16		$	11

Schedule of Pension Liability Adjustments Recognized in Other Comprehensive Income

Pension liability adjustments recognized in other comprehensive income include:

	Year ended December 31,
	2013			2012			2011
	(Dollars in thousands)
Amortization of unrecognized actuarial loss	$	227		$	145		$	131
Current deferral of gains	(1,377		)	214			393
Pension liability adjustments recognized in comprehensive income	(1,150		)	359			524
Tax effect	391			(122		)	(178		)
Net pension liability adjustments	$	(759	)	$	237		$	346

Schedule of Weighted Average Assumptions

Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31, 2013, 2012 and 2011:

	2013		2012		2011
Weighted average discount rate	4.00	%	4.50	%	5.75	%
Expected long-term rate of return on plan assets	7.50	%	7.50	%	7.50	%
Assumed rate of future compensation increases	—	%	—	%	—	%

Schedule of Weighted Average Assets Allocations

The Bank’s Retirement Pension Plan’s weighted-average assets allocations at December 31, 2013, 2012 and 2011 by asset category are as follows:

	Plan Assets at December 31,
	2013		2012		2011
Asset Category:
Equity securities	73.5	%	70.1	%	63.5	%
Debt securities	25.0	%	27.6	%	34.9	%
Cash and cash equivalents	1.5	%	2.3	%	1.6	%
Total	100.0	%	100.0	%	100.0	%
LNB Bancorp, Inc. common stock to total plan assets	—	%	—	%	—	%

Schedule of Estimated Future Benefit Payments

The following estimated future benefit payments, which reflect no expected future service as the plan is frozen, are expected to be paid as follows:

	Amount
	(Dollars in thousands)
2014	$	318
2015	306
2016	296
2017	281
2018	271
2019 and thereafter	1,228

SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS

In 2013, the Corporation established a supplemental retirement plan (“SERP”) for the Chief Executive Officer. The Corporation has established and funded a Rabbi Trust to accumulate funds in order to satisfy the contractual liability of these supplemental retirement plan benefits. These agreements provide for the Corporation to pay all benefits from its general assets, and the establishment of these trust funds does not reduce nor otherwise affect the Corporation's continuing liability to pay benefits from such assets except that the Corporation's liability shall be offset by actual benefit payments made from the trusts. The SERP is an unfunded benefit plan. The Corporation does not expect to make benefit payments or contributions in the next fiscal years. SERP expense was $712 in 2013.

The Corporation has not determined if any contributions will be made to the SERP in 2014; however, actual contributions are made at the discretion of the Corporation's Board of Directors.