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Defined Benefit Pension Plans
 3 Months Ended
Mar. 31, 2015
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. Defined benefit pension plans were previously amended to freeze benefit accruals after a 10-year transition period ending in December 2023.

The composition of net periodic benefit cost was as follows:
(Dollars in thousands)
Qualified Pension Plan
 
Non-Qualified Retirement Plans
Three months ended March 31,
2015
 
2014
 
2015
 
2014
Net Periodic Benefit Cost:
 
 
 
 
 
 
 
Service cost

$615

 

$538

 

$20

 

$12

Interest cost
732

 
723

 
122

 
120

Expected return on plan assets
(1,129
)
 
(1,016
)
 
—

 
—

Amortization of prior service (credit) cost
(6
)
 
(6
)
 
—

 
—

Recognized net actuarial loss
312

 
115

 
61

 
16

Net periodic benefit cost

$524

 

$354

 

$203

 

$148



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