COMPONENTS OF QUARTERLY AND YEAR TO DATE NET PERIODIC BENEFIT COSTS

6 Months Ended

Jun. 30, 2014

COMPONENTS OF QUARTERLY AND YEAR TO DATE NET PERIODIC BENEFIT COSTS [Abstract]

COMPONENTS OF QUARTERLY AND YEAR TO DATE NET PERIODIC BENEFIT COSTS

NOTE 9 COMPONENTS OF QUARTERLY AND YEAR TO DATE NET PERIODIC BENEFIT COSTS

The components of net periodic expense for the Corporation’s pension and other benefit plans for the periods indicated are as follows (dollars in thousands):

	Six Months Ended						Three Months Ended
	June 30, 2014			June 30, 2013			June 30, 2014			June 30, 2013
Qualified Pension
Service cost, benefits earned during the period	$	542		$	699		$	271		$	349
Interest cost on projected benefit obligation		870			817			435			409
Expected return on plan assets		(1,586	)		(1,454	)		(793	)		(727	)
Amortization of unrecognized prior service cost		4			7			2			3
Amortization of unrecognized net loss		320			781			160			391
Net periodic pension expense	$	150		$	850		$	75		$	425
Supplemental Pension
Service cost, benefits earned during the period	$	20		$	20		$	10		$	10
Interest cost on projected benefit obligation		26			24			13			13
Amortization of unrecognized net loss		10			17			5			9
Net periodic supplemental pension expense	$	56		$	61		$	28		$	32
Postretirement, Medical and Life
Service cost, benefits earned during the period	$	22		$	24		$	11		$	13
Interest cost on projected benefit obligation		36			32			18			17
Amortization of unrecognized prior service cost		(48	)		(49	)		(24	)		(24	)
Amortization of unrecognized net gain		-			3			-			2
Net periodic postretirement, medical and life expense	$	10		$	10		$	5		$	8