Note 10 - Pension and Other Postretirement Benefit Plans

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

10. 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 June 30,						Six months ended June 30,
(In thousands)	2016			2015			2016			2015
Employee Pension Plan:
Interest cost	$	226		$	221		$	452		$	442
Amortization of unrecognized loss		201			290			402			581
Expected return on plan assets		(348	)		(350	)		(696	)		(700	)
Net employee pension expense	$	79		$	161		$	158		$	323
Outside Director Pension Plan:
Service cost	$	11		$	11		$	22		$	22
Interest cost		24			24			48			48
Amortization of unrecognized gain		(21	)		(14	)		(42	)		(28	)
Amortization of past service liability		10			10			20			20
Net outside director pension expense	$	24		$	31		$	48		$	62
Other Postretirement Benefit Plans:
Service cost	$	90		$	95		$	180		$	190
Interest cost		80			75			160			150
Amortization of unrecognized loss		12			30			24			60
Amortization of past service credit		(22	)		(22	)		(43	)		(43	)
Net other postretirement expense	$	160		$	178		$	321		$	357

The Company previously disclosed in its Consolidated Financial Statements for the year ended December 31, 2015 that it expects to contribute $0.3 million and $0.2 million to the Outside Director Pension Plan (the “Outside Director Pension Plan”) and the other postretirement benefit plans (the “Other Postretirement Benefit Plans”), respectively, during the year ending December 31, 2016. The Company does not expect to make a contribution to the Employee Pension Plan (the “Employee Pension Plan”). As of June 30, 2016, the Company has contributed $72,000 to the Outside Director Pension Plan and $33,000 to the Other Postretirement Benefit Plans. As of June 30, 2016, the Company has not revised its expected contributions for the year ending December 31, 2016.