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Retirement Benefit Plans
9 Months Ended
Sep. 30, 2014
Retirement Benefit Plans [Abstract]  
Retirement Benefit Plans

Note 9: Retirement Benefit Plans

The Company has non-qualified supplemental executive retirement agreements with certain retired officers. The agreements provide supplemental retirement benefits payable in installments over a period of years upon retirement or death. The Company recognized the net present value of payments associated with the agreements over the service periods of the participating officers. Interest costs continue to be recognized on the benefit obligations.


The Company also has a supplemental executive retirement agreement with a certain current executive officer. This agreement provides a stream of future payments in accordance with a defined vesting schedule upon retirement, termination, or upon a change of control.

The following tables summarize the net periodic benefit costs for the three and nine months ended September 30, 2014, and 2013:

Supplemental
Executive
Retirement Plans
Three Months Ended September 30, 2014 2013
Service cost $ 16 $ 14
Interest cost 37 30
Actuarial loss on supplemental executive retirement plan, net of tax 7 13
Net periodic benefit cost $ 60 $ 57

Supplemental
Executive
Retirement Plans
Nine Months Ended September 30, 2014 2013
Service cost $ 48 $ 196
Interest cost 112 90
Net amortization of prior service cost and actuarial (gain)/loss - -- (165 )
Actuarial loss on supplemental executive retirement plan, net of tax 21 43
Net periodic benefit cost $ 181 $ 164

The Company is expected to recognize $241 of expense for the foregoing plans for the year ended December 31, 2014. The Company is expected to contribute $331 to the foregoing plans in 2014. As of September 30, 2014, the Company had contributed $244.