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Benefit Plans
6 Months Ended
Jun. 30, 2013
Compensation And Retirement Disclosure [Abstract]  
Benefit Plans

NOTE 12 — Benefit Plans

The Company provides an Employee Stock Ownership Plan (ESOP), a Retirement Profit Sharing 401(k) Plan, an Employees’ Pension Plan (currently frozen), an unfunded supplemental executive defined benefit plan (currently frozen), a supplemental executive defined contribution plan, non-qualified supplemental executive retirement plans (SERP), a Postretirement Life Insurance Plan, a Stock Appreciation Rights Plan (SAR), and a Long-Term Incentive Plan.

The components of the net periodic benefit cost are as follows:

 

     Pension Benefits     Other Benefits  

Six months ended June 30,

   2013     2012     2013      2012  

Service cost

   $ —        $ —        $ 21       $ 24   

Interest cost

     323        336        67         70   

Expected return on plan assets

     (413 )      (404 )      —           —     

Amortization of prior service cost

     —          —          —           —     

Amortization of net loss (gain)

     90        68        58         55   
  

 

 

   

 

 

   

 

 

    

 

 

 

Net periodic benefit cost

   $ —        $ —        $ 146       $ 149   
  

 

 

   

 

 

   

 

 

    

 

 

 

The Company previously disclosed in the financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2012 that it expected to contribute $167 to its Employee’s Pension Plan and $295 to its Postretirement Life Insurance Plan in 2013. As of June 30, 2013, the Company expects to contribute $167 to its Employee’s Pension Plan and $291 to its Postretirement Life Insurance Plan during 2013. Readers should refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for further details on the Company’s defined benefit pension plan.

 

The Company sponsors a Retirement Profit Sharing 401(k) Plan for all eligible employees. The Company’s profit sharing expense for the six months ended June 30, 2013 and 2012 was $280 and $300, respectively.