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Defined Benefit Pension Plans
3 Months Ended
Mar. 31, 2013
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 who were hired prior to October 1, 2007 and continue to accrue benefits under the plan.  Benefits are based on an employee’s years of service and compensation earned during the years of service.  The plan is funded on a current basis, in compliance with the requirements of ERISA. 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.

The composition of net periodic benefit cost was as follows for the periods indicated:
(Dollars in thousands)
Qualified Pension Plan
 
Non-Qualified Retirement Plans
Three months ended March 31,
 
2013
 
2012
 
2013
 
2012
Service cost
 

$730

 

$644

 

$50

 

$38

Interest cost
 
719

 
706

 
115

 
126

Expected return on plan assets
 
(925
)
 
(746
)
 

 

Amortization of prior service cost
 
(8
)
 
(8
)
 

 

Recognized net actuarial loss
 
414

 
244

 
49

 
29

Net periodic benefit cost
 

$930

 

$840

 

$214

 

$193