Defined Benefit Pension Plans

9 Months Ended

Sep. 30, 2011

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Defined Benefit Pension Plans

Defined Benefit Pension Plans

The Corporation offers a tax-qualified defined benefit pension plan for the benefit of certain eligible employees. The pension plan was amended effective October 1, 2007 to freeze plan entry to new hires and rehires.  Existing employees hired prior to October 1, 2007 continue to accrue benefits under the plan.  The Corporation also has non-qualified retirement plans to provide supplemental retirement benefits to certain employees, as defined in the plans.  The supplemental retirement plans provide eligible participants with an additional retirement benefit.

For the periods indicated, the composition of net periodic benefit cost was as follows:

(Dollars in thousands)	Qualified Pension Plan												Non-Qualified Retirement Plans
	Three Months						Nine Months						Three Months					Nine Months
Periods ended September 30,	2011			2010			2011			2010			2011			2010		2011			2010
Service cost	$	579		$	584		$	1,736		$	1,753		$	18		$	24	$	54		$	70
Interest cost	645			627			1,934			1,880			124			128		372			386
Expected return on plan assets	(699		)	(630		)	(2,096		)	(1,890		)	—			—		—			—
Amortization of prior service cost	(8		)	(8		)	(25		)	(25		)	(1		)	2		(1		)	6
Recognized net actuarial loss	98			80			294			240			5			4		11			14
Net periodic benefit cost	$	615		$	653		$	1,843		$	1,958		$	146		$	158	$	436		$	476

Employer Contributions:

The Corporation previously disclosed in its financial statements for the year ended December 31, 2010 that it expected to contribute $3.0 million to its qualified pension plan and make $723 thousand in benefit payments under its non-qualified retirement plans in 2011.  The Corporation contributed $3.0 million to the qualified pension plan on April 1, 2011.  During the nine months ended September 30, 2011, $552 thousand in benefit payments have been made under the non-qualified retirement plans and it presently anticipates making an additional $171 thousand in benefit payments throughout the remainder of 2011.