Employee Benefit Plans

12 Months Ended

Dec. 31, 2011

Employee Benefit Plans [Abstract]

Employee Benefit Plans

Note 26 — Employee Benefit Plans

The Company maintains a 401(k) plan for its employees. Under the plan, eligible employees may contribute up to 60 percent of their annual compensation, subject to a maximum amount proscribed by law. The maximum annual contribution was $16,500 for 2011, 2010 and 2009. Participants who were age 50 or older prior to the end of the year could make additional “catch-up” contributions of up to and $5,500 for 2011, 2010 and 2009. The Company provided a matching contribution of up to 3 percent of an employee’s eligible compensation deferred up to a maximum of $7,350, which was suspended October 1, 2009, and reinstated January 1, 2011 at 50 percent of the first 3 percent in eligible compensation deferred. The Company’s contributions vest at a rate such that an employee is fully vested after five years of service. The Company’s contributions to the plan for the years ended December 31, 2011, 2010, and 2009 were approximately $1.2 million, zero and $2.9 million, respectively. The Company may also make discretionary contributions to the plan; however, none have been made.