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Defined Benefit Pension Plans
 6 Months Ended
Jun. 30, 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
 
Six months
 
Three months
 
Six months
Periods ended June 30,
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Net Periodic Benefit Cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost

$614

 

$538

 

$1,229

 

$1,076

 

$19

 

$11

 

$39

 

$23

Interest cost
732

 
722

 
1,464

 
1,445

 
123

 
119

 
245

 
239

Expected return on plan assets
(1,128
)
 
(1,015
)
 
(2,257
)
 
(2,031
)
 
—

 
—

 
—

 
—

Amortization of prior service (credit) cost
(5
)
 
(5
)
 
(11
)
 
(11
)
 
—

 
—

 
—

 
—

Recognized net actuarial loss
312

 
115

 
624

 
230

 
61

 
19

 
122

 
35

Net periodic benefit cost

$525

 

$355

 

$1,049

 

$709

 

$203

 

$149

 

$406

 

$297



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