Note 8 - Pension and Other Postretirement Benefit Plans

9 Months Ended

Sep. 30, 2011

Pension and Other Postretirement Benefits Disclosure [Text Block]

8.           Pension and Other Postretirement Benefit Plans

The following table sets forth information regarding the components of net expense for the pension and other postretirement benefit plans.

	Three months ended						Nine months ended
	September 30,						September 30,
(In thousands)	2011			2010			2011			2010
Employee Pension Plan:
Interest cost	$	246		$	239		$	738		$	717
Amortization of unrecognized loss		153			91			459			273
Expected return on plan assets		(308	)		(312	)		(924	)		(936	)
Net employee pension expense	$	91		$	18		$	273		$	54
Outside Director Pension Plan:
Service cost	$	17		$	16		$	51		$	48
Interest cost		31			33			93			99
Amortization of unrecognized gain		(13	)		(14	)		(39	)		(42	)
Amortization of past service liability		10			10			30			30
Net outside director pension expense	$	45		$	45		$	135		$	135
Other Postretirement Benefit Plans:
Service cost	$	78		$	68		$	234		$	204
Interest cost		52			52			156			156
Amortization of unrecognized loss		-			2			-			6
Amortization of past service credit		(21	)		(21	)		(63	)		(63	)
Net other postretirement expense	$	109		$	101		$	327		$	303

The Company previously disclosed in its Consolidated Financial Statements for the year ended December 31, 2010 that it expects to contribute $0.2 million to each of the Company’s Employee Pension Plan (the “Employee Pension Plan”) and the Outside Director Pension Plan (the “Outside Director Pension Plan”) and $0.1 million to the other post retirement benefit plans (the “Other Postretirement Benefit Plans”) during the year ending December 31, 2011. As of September 30, 2011, the Company has contributed $176,000 to the Employee Pension Plan, $66,000 to the Outside Director Pension Plan and $41,000 to the Other Postretirement Benefit Plans. As of September 30, 2011, the Company has not revised its expected contributions for the year ending December 31, 2011.