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Defined Benefit Pension Plans
 6 Months Ended
Jun. 30, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Defined Benefit Pension Plans
Defined Benefit Pension Plans
The Corporation maintains a tax-qualified defined benefit pension plan for the benefit of certain eligible employees who were hired prior to October 1, 2007. 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. In September 2013, the Corporation amended its defined benefit pension plans primarily to freeze benefit accruals after a ten-year transition period ending in December 2023.

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
 
Six months
 
Three months
 
Six months
Periods ended June 30,
2014
 
2013
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Service cost

$538

 

$731

 

$1,076

 

$1,461

 

$11

 

$49

 

$23

 

$99

Interest cost
722

 
719

 
1,445

 
1,438

 
119

 
115

 
239

 
230

Expected return on plan assets
(1,015
)
 
(924
)
 
(2,031
)
 
(1,849
)
 
—

 
—

 
—

 
—

Amortization of prior service cost
(5
)
 
(9
)
 
(11
)
 
(17
)
 
—

 
—

 
—

 
—

Recognized net actuarial loss
115

 
414

 
230

 
828

 
19

 
49

 
35

 
98

Net periodic benefit cost

$355

 

$931

 

$709

 

$1,861

 

$149

 

$213

 

$297

 

$427



The pension plan is funded on a current basis, in compliance with the requirements of ERISA.