EMPLOYEE RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2011

Schedule of Defined Benefit Plans Disclosures

A summary of the plans’ net periodic pension cost, benefit obligations, funded status, and net balance sheet position is as follows (dollars in thousands):

	2011			2011			2011			2011			2010			2010			2010
	Elgin			Smithville			Wrexham			Director			Elgin			Smithville			Director
	Plan			Plan			Plan			Plans			Plan			Plan			Plans
Net Periodic Pension Cost:
Service cost	$	—		$	—		$	—		$	1,123		$	—		$	—		$	1,091
Interest cost		226			669			415			472			231			635			435
Expected return on assets		(178	)		(571	)		(480	)		—			(167	)		(523	)		—
Amortization of net loss		125			203			—			507			114			119			—
Pension settlement		—			—			—			13			—			—			172
	$	173		$	301		$	(65	)	$	2,115		$	178		$	231		$	1,698
Change in Benefit Obligation:
Benefit obligation – beginning of year	$	4,142		$	11,958		$	—		$	7,028		$	4,095		$	10,821		$	6,153
Benefit obligations – acquisitions		—			—			13,328			—			—			—			—
Service cost		—			—			—			1,123			—			—			1,091
Interest on benefit obligations		226			669			415			472			231			635			435
Actuarial losses		695			2,978			192			3,043			85			843			—
Pension settlement		—			—			—			12			—			—			172
Net benefit payments		(262	)		(401	)		(246	)		(300	)		(269	)		(341	)		(823	)
Benefit obligation – end of year	$	4,801		$	15,204		$	13,689		$	11,378		$	4,142		$	11,958		$	7,028
Change in Plan Assets:
Plan assets at fair value – beginning of year	$	3,342		$	8,253		$	—		$	—		$	3,189		$	7,526		$	—
Plan assets at fair value – acquisitions		—			—			11,798			—			—			—			—
Company contributions		156			225			465			300			118			250			823
Investment (loss) gain		(49	)		(257	)		(499	)		—			304			818			—
Benefit payments and plan expenses		(261	)		(401	)		(246	)		(300	)		(269	)		(341	)		(823	)
Plan assets at fair value – end of year	$	3,188		$	7,820		$	11,518		$	—		$	3,342		$	8,253		$	—
Funded Status:
Unfunded benefit obligation	$	(1,614	)	$	(7,384	)	$	(2,170	)	$	(11,378	)	$	(799	)	$	(3,704	)	$	(7,028	)
Amounts recognized in balance sheet at year end:
Other noncurrent liabilities	$	(1,614	)	$	(7,384	)	$	(2,170	)	$	(11,378	)	$	(799	)	$	(3,704	)	$	(7,028	)
Pre-tax components in accumulated other comprehensive income:
Net actuarial loss	$	2,102		$	6,291		$	1,409		$	2,536		$	1,304		$	2,689		$	—
Net prior service cost		—			—			—			—			—			—			—
Net transaction (asset) obligations		—			—			—			—			—			—			—
Total amount recognized	$	2,102		$	6,291		$	1,409		$	2,536		$	1,304		$	2,689		$	—
Accumulated Benefit Obligation	$	4,801		$	15,204		$	13,689		$	3,999		$	4,142		$	11,958		$	4,371
Salary growth rate		n/a			n/a			n/a			10.0	%		n/a			n/a			10.0	%
Assumed discount rate		4.3	%		4.3	%		4.7	%		4.3	%		5.5	%		5.5	%		6.0	%
Expected return on assets		5.5	%		7.0	%		6.6	%		n/a			5.5	%		7.0	%		n/a

Schedule of Allocation of Plan Assets

The assets of the plans were invested in the following classes of securities (none of which were securities of the company):

Elgin Plan

	Target Allocation			Percentage of Plan Assets
				2011			2010
Equity		48	%		49	%		48	%
Fixed income		40	%		37			32
Money market		4	%		5			12
Other (real estate & commodities)		8	%		9			8
		100	%		100	%		100	%

Smithville Plan

	Target Allocation			Percentage of Plan Assets
				2011			2010
Equity		48	%		51	%		56	%
Fixed income		40	%		37			36
Money market		4	%		4			-
Other (real estate & commodities)		8	%		8			8
		100	%		100	%		100	%

Wrexham Plan

	Target Allocation			Percentage of Plan Assets
				2011
Equity		50	%		66	%
Fixed income		50	%		27
Money market		—	%		7
		100	%		100	%

Pension Plans Fair Value Of Investments

The following tables summarize the basis used to measure the pension plans’ assets at fair value as of December 31, 2011 (in thousands):

Elgin Plan

Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Short Term Investment Fund (a)	$	169	$	—	$	169	$	—
Equity Securities:
Large Cap		768		768		—		—
Mid Cap		86		86		—		—
Small Cap		121		121		—		—
International		607		607		—		—
Fixed Income:
Government/Corporate		989		989		—		—
High Yield		183		183		—		—
Alternative:
Global Real Estate		88		88		—		—
Commodities		177		177		—		—
Total	$	3,188	$	3,019	$	169	$	—

^(a) Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Smithville Plan

Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Short Term Investment Fund (a)	$	328	$	—	$	328	$	—
Equity Securities:
Large Cap		1,895		1,895		—		—
Mid Cap		209		209		—		—
Small Cap		328		328		—		—
International		1,535		1,535		—		—
Fixed Income:						—		—
Government/Corporate		2,435		2,435
High Yield		449		449
Alternative:
Global Real Estate		225		225		—		—
Commodities		416		416		—		—
Total	$	7,820	$	7,492	$	328	$	—

^(a) Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Wrexham Plan

Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Short Term Investment Fund (a)	$	800	$	—	$	800	$	—
Equity Securities:
UK		3,599		3,599		—		—
International
Developed		2,008		2,008		—		—
Emerging		341		341		—		—
Global		1,604		1,604		—		—
Fixed Income:						—		—
Government/Corporate		1,802		1,802		—		—
Aggregate		354		354		—		—
Index Linked		1,010		1,010		—		—
Total	$	11,518	$	10,718	$	800	$	—

^(a) Represents collective short term investment fund, composed of high-grade money market instruments with short maturities.

Schedule of Expected Benefit Payments

Estimated future benefit payments under the plans are as follows (dollars in thousands):

	Elgin Plan		Smithville Plan		Wrexham Plan		Director Plans
2012		304		409		465		—
2013		309		461		480		—
2014		302		496		496		—
2015		297		516		511		—
2016 through 2021		1,788		3,945		3,392		6,865