Pension and postretirement benefits

3 Months Ended

Mar. 31, 2012

Notes to Financial Statements [Abstract]

Pension And Other Postretirement Benefits Disclosure Text Block

Note 26 – Pension and postretirement benefits

The Corporation has a non-contributory defined benefit pension plan and supplementary pension benefit restoration plans for regular employees of certain of its subsidiaries. The accrual of benefits under the plans is frozen to all participants.

The components of net periodic pension cost for the periods presented were as follows:

		Pension Plan				Benefit Restoration Plans
		Quarters ended March 31,				Quarters ended March 31,
(In thousands)		2012		2011		2012		2011
Interest cost	$	7,495	$	7,785	$	393	$	395
Expected return on plan assets		(9,810)		(10,840)		(526)		(451)
Amortization of net loss		5,426		2,828		323		148
Total net periodic pension cost (benefit)	$	3,111	$	(227)	$	190	$	92

The Corporation did not make anycontributions to the pension and benefit restoration plansduring the quarter ended March 31,2012. The total contributions expected to be paid during the year 2012 for the pension and benefit restoration plans amount to approximately$50thousand.

The Corporation also provides certain postretirement health care benefits for retired employees of certain subsidiaries. The table that follows presents the components of net periodic postretirement benefit cost.

		Quarters ended March 31,
(In thousands)		2012		2011
Service cost	$	548	$	504
Interest cost		1,950		2,136
Amortization of prior service cost		(50)		(240)
Amortization of net loss		540		267
Total postretirement cost	$	2,988	$	2,667

Contributions made to the postretirement benefit plan for the quarter ended March 31, 2012amounted to approximately $1.6 million. The total contributions expected to be paid during the year 2012 for the postretirement benefit plan amount to approximately $7.4million.